budget deficit

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Newt: Selling Out Is Worse Than Shutting Down

1995 government shutdown was no catastrophe, writes Gingrich

(Newser) - The Republican leadership should stick to its guns regarding the budget, even if that means shutting down the government—which wouldn't be the worst thing, argues Newt Gingrich. Writing for the Washington Post , he points to the government shutdown of 1995 as an event worth imitating. While many regard that...

Lesson From Wisconsin: Bleed Everyone
 Lesson From Wisconsin: 
 Bleed Everyone 
David Brooks
Feb 22, 2011 11:45 AM CST

Lesson From Wisconsin: Bleed Everyone

We need to agree to 'make everybody hurt': David Brooks

(Newser) - America is engaged in a massive fiscal battle, and nowhere is it more intense than in Wisconsin, where leaders “have done everything possible to maximize conflict,” writes David Brooks of the New York Times . On the one hand, Scott Walker was right: There’s a very good argument...

Old People Rule America
 Old People Rule America 
Robert Samuelson
Feb 21, 2011 8:50 AM CST

Old People Rule America

Budget shows that AARP has all the power

(Newser) - The unspoken question looming over Washington’s budget battle isn’t how much discretionary spending tol cut; it’s “whether our elected politicians will take back government from AARP,” writes Robert Samuelson of the Washington Post . Both parties obviously quake in fear of the senior citizens’ lobby, unwilling...

Worried About the National Debt? Donate to Cover It!

Thanks to a government program, you don't even have to leave your house

(Newser) - Losing sleep over news that the national deficit will hit $1.6 trillion this year? Well, why not make a donation to help cover some of it? Every little bit helps, after all—and, as Consumerist points out, the Treasury Department has a program that enables you to donate via...

Hooray for the Budget Brawl!
 Hooray for the Budget Brawl! 
OPINION
Feb 18, 2011 12:44 PM CST

Hooray for the Budget Brawl!

This messy stuff is what democracy is supposed to look like

(Newser) - The Washington press corps hasn’t been kind to John Boehner's budget free-for-all , calling it “chaos,” a “headache,” “turmoil,” and worse. “There’s a far better word for what happened: democracy,” writes Kimberly Strassel in the Wall Street Journal . Boehner’s allowed...

Boehner: Cut Spending, or Expect March 5 Government Shutdown
Boehner: Cut Spending, or Expect March 5 Shutdown
UPDATED
Feb 18, 2011 11:31 AM CST

Boehner: Cut Spending, or Expect March 5 Shutdown

House Speaker says he won't extend current funding levels

(Newser) - Zero hour is rapidly approaching for the federal budget, and John Boehner made it clear yesterday that he’s ready for a showdown. The temporary spending measure that’s keeping the government running expires on March 4, and Boehner said he wouldn’t extend it to give lawmakers more time...

Your Future Bill for the National Debt: $2,500 a Year

... actually, that'll just cover the interest

(Newser) - The next decade will see interest payments on the national debt quadruple, forcing every American to essentially pay more than $2,500 yearly, the Washington Post finds in a look at President Obama’s budget plan. That means that starting in 2014, net interest payments will exceed spending on all...

House Wades Through 600 Spending Cut Proposals

Democrats call moves 'Extreme and indiscriminate'

(Newser) - There was a flurry of actual policy debate on Capitol Hill yesterday, as Republicans, determined to slash $60 billion to $100 billion in spending, waded through some 600 amendments, debating everything from health care reform to wild horses roundups, the Los Angeles Times reports. John Boehner has scrapped rules past...

Obama to Budget Critics: Wow, You're Impatient

President also blasts Iran leaders as hypocrites in news conference

(Newser) - Two main themes are emerging from President Obama's news conference this afternoon—he called out Iran over its violent crackdown on protesters and said critics of his budget plan were way too "impatient":
  • On Iran: "I find it ironic that you've got the Iranian regime pretending to celebrate
...

Hey, Kids: Obama Just Screwed You Over

 Hey, Kids: 
 Obama Just 
 Screwed 
 You Over 
andrew sullivan
Feb 15, 2011 11:33 AM CST

Hey, Kids: Obama Just Screwed You Over

President isn't serious about debt crisis, writes Andrew Sullivan

(Newser) - President Obama’s new budget proposal is a cop-out, proposing no cuts whatsoever in entitlement or defense spending—and that makes him a hypocritical coward, writes Andrew Sullivan of the Atlantic . “He has betrayed those of us who took him to be a serious president,” Sullivan fumes. “...

Obama Budget Throws Ambition to the Wind

President dials it down with eye on 2012

(Newser) - If President Obama’s new budget proposal is any indication, he’s vastly dialed back his first-term ambitions in the hopes of winning a second one, observe Peter Wallsten and Perry Bacon Jr of the Washington Post . Whereas two years ago Obama laid out a sweeping New Deal-esque plan with...

Obama: Deficit to Hit $1.6T
 Obama: Deficit to Hit $1.6T 
Feb 14, 2011 7:53 AM CST

Obama: Deficit to Hit $1.6T

White House unveils $3.7T budget, plans to cut spending

(Newser) - The White House expects the national budget deficit to peak at $1.65 trillion this year, or roughly 10.9% of GDP—its highest level since World War II, the Wall Street Journal reports. That figure—which is significantly more pessimistic than the Congressional Budget Office’s $1.48 trillion...

Obama to Propose Middle-Ground Budget Cuts

Proposed cuts will reduce deficits by $1.1T over 10 years

(Newser) - The budget cuts President Obama will propose tomorrow likely won’t be as deep as Republicans want , but they will nonetheless promise $1.1 trillion in deficit reductions over the next decade, according to a senior administration official. Among the proposed areas to be affected in the fiscal 2012 budget:...

Don't Like My Plan to Cut $500B? Then Do This...

Sen. Rand Paul offers challenge to those who don't like his proposal

(Newser) - Rand Paul is trumpeting his plan to cut $500 billion in spending once again , this time in the pages of the Wall Street Journal , where he calls his "a modest proposal when measured against the size of our mounting debt." He runs through its elements—he doesn't touch...

Alan Simpson: Give Deficit Fairytales the 'Green Weenie'

Deficit panel chair full of colorful language in latest interview

(Newser) - Alan Simpson, the deficit commission co-chair famous for ever-so-subtly calling Social Security "a milk cow with 310 million tits," was back on the teevee today calling for serious cuts to Medicare, Medicaid, the aforementioned milk cow, and defense, reports the Huffington Post. Some highlights from his comments:
  • "
...

Rand Paul: GOP Not 'Brave Enough' to Make Big Cuts

Says deficit measures come before party loyalty

(Newser) - When it comes to the budget deficit, Sen. Rand Paul says fellow Republicans "aren't maybe yet brave enough to talk about the cuts to come.”" The new House GOP budget plan is "really not going to touch the problem," he told ABC News . While the...

Palin: Obama's Theme Is Winning the Future&mdash;or WTF
Palin: Obama's Theme Is Winning the Future—or WTF
state of the union
Jan 27, 2011 7:19 AM CST

Palin: Obama's Theme Is Winning the Future—or WTF

Get it? Get it? Also, we need to cut 'fluffery' spending on NPR

(Newser) - Sarah Palin, not surprisingly, wasn’t a fan of President Obama’s State of the Union address . She joked with Greta Van Susteren last night that his theme “was the WTF, you know, winning the future ,” which was appropriate because “there were a lot of WTF moments...

Social Security to Be Drained by 2037

System will be permanently in the red unless Congress acts

(Newser) - Sick and getting sicker, Social Security will run at a deficit this year and keep on running in the red until its trust funds are drained by about 2037, according to bleaker-than-previous estimates from congressional budget experts. The massive retirement program has been suffering from the effects of the struggling...

Reid: Earmarks Will Be Back
 Reid: Earmarks Will Be Back 
Jan 27, 2011 3:58 AM CST

Reid: Earmarks Will Be Back

Obama 'applause lines' not really solving anything

(Newser) - "They'll be back." No, not Terminator robots from the future, but something that some may consider nearly as deadly—earmarks. Harry Reid says President Obama is wrong to try to end the practice that allows members of Congress to insert benefits for their home states into bills. "...

CBO: Deficit to Hit Record $1.5T

Thanks to tax cut, unemployment extensions

(Newser) - New budget estimates released today predict the government's deficit will hit almost $1.5 trillion this year, a new record. The daunting numbers mean that the government will have to borrow 40 cents for every dollar it spends. The latest figures are up from previous estimates because of bipartisan legislation...

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