Is the Deficit Really Shrinking?
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Francis Cianfrocca to discuss a DHS reaction to Bitcoin, a CBO report on a shrinking deficit and why liberals think deficits are a good thing.
Read More »
The Democrat budget’s “spending cut” hocus pocus
It’s awful that the Democrats want to squeeze a trillion dollars in new taxes out of Americans with Senate Budget Committee chair Patty Murray’s (D-WA) budget proposal, but hey, at least they offer a “balanced approach” by cutting a trillion in spending too, right? Wrong. The “spending cuts” are almost entirely fraudulent. They’re just paperwork shuffles and accounting tricks. It begins with one of the most | Read More »
All of a sudden, the President says we don’t have a debt crisis
Presto, change-o! At the beginning of the year, we were sternly lectured that huge tax increases were absolutely necessary to confront our looming debt crisis. America was driven to the edge of the “fiscal cliff,” ostensibly producing business panic that explained a fair measure of Barack Obama’s permanent economic malaise, by the President’s refusal to budge an inch from his demands for those deficit-fighting tax | Read More »
The Associated Press reports that “federal revenue collections hit an all-time high in April, contributing to a further improvement in the budget deficit for the year.” Releasing its monthly budget report, the Treasury Department said Thursday that through the first seven months of this budget year, the deficit totals $80.8 billion, significantly below the $184.1 billion imbalance run up during the first seven months of | Read More »
Spending at Gun Point
In the days leading up to President Obama announcing his gun control plans, and now that he has, the focus of Republicans and Conservatives has been squarely on his ever-encroaching attack on the Second Amendment. As Republican National Committee Chairman Reince Priebus stated on the President’s move, “He paid lip service to our fundamental constitutional rights, but took actions that disregard the Second Amendment and | Read More »
The House Must Act Now
Well, we really stuck it to the rich at 1:39 in the morning. Whew, now we can breathe a sigh of relief. The 40 Republicans who voted for Obama’s stimulus bill had to swallow hard voting for over $100 billion in new spending just in 2013, but at least those of us who are not super rich won’t see our taxes increase this year. Oh | Read More »
Happy ‘Deficit Day’
You are familiar with the Tax Foundation’s “Tax Freedom Day” — the date by which the average American has earned enough to pay his taxes for the year. This year Tax Freedom Day finally arrived on April 17th. To borrow a phrase from President Obama, let me be clear, on average Americans, must use every penny they earned from January 1st until April 17th to pay their taxes for the year.
One of my favorite economists, Professor Antony Davies, and his colleague, James R. Harrigan, suggest we also celebrate what they call “Deficit Day” to focus Americans’ attention on the on fact that we are headed to bankruptcy. They explain it all in an excellent article they published at Real Clear Markets.
Read More »
What Spending Cuts?
We constantly hear about the age of austerity and painful spending cuts that are being enacted in Washington. The only problem is that they don’t exist. Earlier this week, the CBO published a report on the budget deficit for the first 9 months of Fiscal Year 2012 (October 2011-June 2012). The headline figure of the report shows that the 9-month deficit stands at $905 billion, | Read More »
Romney extends lead among Independents to 14 percent
In the new ABC News/Washington Post poll, former Massachusetts Governor Mitt Romney extends his lead among Independents to 14 points, 53-39 percent. Two months ago, a POLITICO/George Washington University Battleground poll found Romney had a ten-point lead among the critical Independent voters. The mainstream media is touting the poll as showing the race is “dead even” — a 47-47 percent Obama-Romney contest among registered voters. | Read More »
Failed Earmark Culture Should Not Return
Promoted from the diaries. The 2010 election spurred hundreds of Americans to call for a change in the direction our nation was taking. They were sick of the reckless spending of the Democrat-controlled Congress and they wanted their representative to be above the culture of corruption in Washington, D.C. As a result, November saw 87 new Republicans elected to the House of Representatives with a | Read More »
Republicans Already Showing Weakness on Keystone Pipeline
Well, that didn’t take long. Just one week into the conference committee on the highway bill, Republicans are showing signs of caving on their insistence that the Keystone pipeline be approved as part of the deal. Throughout the past few months, we have been chronicling how Republicans have been apathetic to the underlying vices of the highway bill (S. 1813). They basically told the Democrats | Read More »
Romney: Obama’s reckless spending fans a ‘prairie fire of debt’
Speaking in Des Moines, Iowa this afternoon, Romney took President Obama to task for his incessant spending and borrowing: “Today America faces a financial crisis of debt and spending that threatens what it means to be an American. Here in the heartland you know in your hearts that it’s wrong. We can’t spend another four years talking about solving a problem that we only make | Read More »
Tech at Night: One great idea and two bad ideas in the House
Happy Friday. We’ll start off this edition with Marsha Blackburn’s own post at RedState. There’s a reason I would like to see her rise higher on Energy and Commerce: she knows her stuff and is a fierce proponent of conservative values. I agree with her: government is not the solution to the privacy problem. I don’t agree with Joe Barton, whose plans for heavy-handed regulation | Read More »
, Energy and Commerce
, Free Press
, joe barton
, Lamar Smith
, Marsha Blackburn
, Monty Python
, Mr. Creosote
, Patrick Leahy
, PROTECT IP
Ezra Klein & The Megamind: Lower Your Economic Expectations
Left wing journolister, Ezra Klein, posted an article yesterday wherein he argues that the economy will continue to suck, we should all prepare for tax hikes, and Pawlenty is lying. He comes to his authoritative conclusion by consulting an economic megamind consisting of people made famous for being wrong, and/or being tied to Think Progress, but I repeat myself. Ezra begins his article by having | Read More »
Eric Cantor on deficit: progress, and no tax hikes.
Allow me to summarize for my readers this Hill article (“Cantor to Democrats: See, cutting spending’s not that hard”) on some hopeful (repeat: hopeful) signs of deficit reduction on the horizon: Eric Cantor: …See, cutting spending’s not that hard*. And there’s not going to be any tax hikes. Debbie Wasserman Schultz: …OK, now that you’ve getting spending cuts, we want our Holy Grail, too. Raise | Read More »