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Good News/Bad News On Budget

The Congressional Budget Office (CBO) issued its long term budget outlook this week.  William Gale summarized it so you don’t have to read all the details: The size of the budget deficit today isn’t a problem, and it’s not much of a problem for the next few years either. “If current laws governing taxes and […]

In his last news conference of the year President Obama asserted there’d be no negotiating on the need to raise the debt ceiling that threatens to create turmoil when Republicans get in the way of doing what they’ve done for every other president. During a White House press conference CNN’s Brianna Keilar asked the president […]

Congressman Paul Ryan says Republicans are going to want something in return from Democrats for raising the debt ceiling. That means the possibility of another ugly standoff. Said Ryan: “We, as a caucus, along with our Senate counterparts, are going to meet and discuss what it is we want to get out of the debt […]

Speaking at an Iowa Faith and Freedom Coalition event, Sarah Palin compared the federal debt to slavery. “Our free stuff today is being paid for by taking money from our children and borrowing from China,” she said at the Iowa Faith & Freedom Coalition’s fall fundraiser at the State Fairgrounds Saturday night. “When that money […]

Holy trolls, Batman! When billionaire Pete Peterson’s Fix The Debt decided to hold a Q&A  session on Twitter to sell corporate America’s austerity agenda, they must not have expected to be trolled. First rule of Twitter: always  expect the trolls. By the time the whole real-time conversation was called off, the stream for #FixTheDebtQA was 100% […]

It looks like Ted Cruz was not the only pol making headlines this morning on CNN’s “State of the Union”. Treasury Secretary Jack Lew gave the nation another reason to be angry with stubborn House “Tea Party” Republicans as he laid out a stark warning to the nation over the debt limit: [Lew] warned that […]

Way to go, Tea Party!  Their clear thinking, erudition, planning, and devotion to smaller government by engineering a shutdown will save American taxpayers billions of dollars… er… uh… um… oops! A partial shutdown of the federal government will cost the U.S. at least $300 million a day in lost economic output at the start, according […]

‘I Will Not Negotiate’

During the past week, President Obama drastically shifted the rhetoric concerning the stand-off between the White House and Congress – more specifically, the House Tea Party caucus – on legislation that would raise the debt ceiling. The White House and the President himself were comparing the behavior of the Tea Party to that of hostage-takers […]

Talk about throwing a drowning man an anchor! The President has told the hapless House Speaker, whose out-of-control Tea Party caucus has decided to take the debt ceiling hostage, that the matter is non-negotiable: Later on Friday, Obama called House Speaker John Boehner, to reiterate he would not negotiate on another bill that will soon be […]