Open thread July 23, 2011 Dan Crawford | July 23, 2011 11:54 pm Tags: open thread Comments (48) | Digg Facebook Twitter |
Reducing the Fiscal Year Federal Budget Deficits: Spending and Revenue Options
Here is a brief collection of reports and proposals that address the Federal Budget deficits and long-term fiscal outlook. The list is rounded out with a 1994 GAO report on the experiences of others nations with deficit reduction.
Reducing the Deficit: Spending and Revenue Options
March 10, 2011
CBO’s 2011 Long-Term Budget Outlook
The Federal Government’s Long-Term Fiscal Outlook: 2011
March 18, 2011
Opportunities to Reduce Potential Duplication in Government
Programs, Save Tax Dollars, and Enhance Revenue
GAO-11-318SP, Mar 1, 2011
List of Selected Federal Programs That Have Similar or
Overlapping Objectives, Provide Similar Services, or
Are Fragmented Across Government Missions
GAO-11-474R, Mar 18, 2011
Back in Black: A Deficit Reduction Plan
proposed by U.S. Senator Tom Coburn (R-OK)
July 18, 2011
Experiences of Other Nations
provided by Charles A. Bowsher,
ComptrolIer General of the United States
These are the section-by-section direct links for Senator Coburn’s proposal.
Back in Black: A Deficit Reduction Plan
proposed by U.S. Senator Tom Coburn (R-OK)
July 18, 2011
Total Savings Chart
Department of Agriculture
Department of Commerce
Department of Defense
Department of […]
Gee Movie Guy you missed this one: http://grijalva.house.gov/uploads/The%20CPC%20FY2012%20Budget.pdf
It actually elminates the deficit by 2021 and generates a 30B surplus while investing 1.7T in our nation’s infrastructure.
An accidental oversight I’m sure.
If you’re going to cite Senator Coburn’s plans in detail you probably ought to check the math very carefully…
“Lesbianism is so rampant in some of the schools in southeast Oklahoma that they’ll only let one girl go to the bathroom. Now think about it. Think about that issue. How is it that that’s happened to us?”
“And I thought I would just share with you what science says today about silicone breast implants. If you have them, you’re healthier than if you don’t. In fact, there’s no science that shows that silicone breast implants are detrimental and, in fact, they make you healthier.”
-Senator Tom Coburn M.D. (Specialty in OB/GYN)
This WSJ editorial tries to explain that payoffs to police and others to cover up phone hacking at their parent company is just part of journalistic compensation of sources:
Good luck on that one boys.
——————————————–TOLJA SO! ————————–
From today’s WaPo we have this: “By early evening, the outlines of a two-stage strategy were emerging. First, lawmakers would vote on a package to cut agency spending by as much as $1 trillion over the next decade and raise the debt limit, currently set at $14.3 trillion, by the same amount. That would give Geithner enough borrowing authority to cover the nation’s bills through the end of this year.”
What I said earlier: “Or, what I really thinks is happening, is that a short term bill with cuts only will be passed. The story will be that they have reached some longer term or larger deal, and the short term bill will be passed to buy the time needed to finalize the “Big Deal.””
We will see what the long term “announcement” will contain, but that will just be frosting in the short term. The next round of fights, the 2012 budget, is just beginning. Then in later this year we will go through another round of Debt ceiling trauma, but what is obvious is that budget cuts are inevitable and tax reform will be done after the next elections.
There is more to come on this spending sage, but a large percentage of the voters are actually behind cutting spending.
Coburn has been reading the stuff I write here!
Yes they are also the ones that pollsters can’t seem to find. They must not answer their phones or hate answering poll questions for some curious reason.
This Wapo/ABC news poll July14-17 shows a plurality of self described Republicans favoring increased taxes. http://www.washingtonpost.com/blogs/behind-the-numbers/post/poll-taxes-beat-spending-cuts-for-debt-reduction/2011/07/12/gIQAnTOrOI_blog.html
Where are these mystery voters Co-Rev? Are they real? Or just in your head?
AS from that same poll we have these results re: how to reolve the debt ceiling issue:
———–Cutting federal Increasing Combination No
—————-spending — taxes — of both — opinion
This week’s This American Life features segments on the recent business phenomenon of Patent Trolling. http://www.thisamericanlife.org/radio-archives/episode/441/when-patents-attack
From the episode synopsis:
“We take you inside this war, and tell the fascinating story of how an idea enshrined in the US constitution to promote progress and innovation, is now being used to do the opposite.”
Lessons learned from the financial industry. Why bother with expensive and risky innovation when you can invest in becoming a Rentier?
Moderators, I dunno what happened with my format. I’ve tried to fix twice, so could you reformat, please.
I wish we had as many conservative, progressive, “bipartisan,” and think-tank, and individual’s plans for reducing unemployment and generating economic growth as we have for reducing the deficit. I don’t like the family budget analogy because it’s so flawed, but I can’t help thinking that I might consider finding a job before developing plans to balance my household budget by living on the street or asking my friends–or rich uncle–for money. (Not a real example.) Oh well, it’s politics.
So I guess what you meant to type above was “…a large percentage of the voters are actually behind cutting spending…. and also increasing taxes”
Don’t forget the Ryan Roadmap http://www.roadmap.republicans.budget.house.gov/
and Simpson Bowles
I was trying to find the Obama Plan, but I can’t seem to. Google must be down as surely the President of the United States has a plan, right?
Yup! When associated with rasing the debt ceiling. BUT, when proposed alone, rasising taxes is against 2/3 – 3/4 of the wishes of the population or voters.
The ones in your head? Or the ones who answer opinion polls? You might need to be clear on that.
Polls, of course. They’re readily available, but do your own research. I’m tired of doing the math and research for those who just won’t and prefer the talking points approach.
You poor dear. Try to rest up it looks like a bumpy decade coming for you.
all voters are behind cutting spending. it’s what to cut that causes the politics. and it is especially difficult because most voters are completely ignorant about just how the money makes their lives better.
but more important the latest plan on offer… cut a little now and have the debt ceiling fight all over again in a few months and in the meanwhile create a “super congress” to make all future decisions about revenue and spending… would pretty much guarantee that American democracy has come to an end. We would be governed by 12 congressmen from secure districts. Cheaper that way.
once again, you don’t know what math is. you think selected numbers “prove” your points.
when i give you real math and real research you just come back with some sixth grade taunt.
makes me think you should have been spanked and sent to bed a long time ago.
And here is non-Senator coberly’s deficit reduction plan.
Rescind ALL of the Bush tax cuts…. at least until the deficit they caused is paid for.
Raise the payroll tax one tenth of one percent per year over the next ten years. Repeat as necessary.
Explain to the people that when you are expecting higher medical costs is not the time to cut your medical insurance.
Enact a “deficit surtax” called the Patriot Defense of America Act of about ten percent (of your current tax bill) until the deficit emergency is over.
Dale at 12:49 you said this: “CoRev
all voters are behind cutting spending.” so you are proposing a 100% tax increase solution that flies in the face of ALL voters? Good plan! Good analysis! And now you still have failed to calculate the actual budget impacts.
I’ll just wait over for your superior math skills to show us how your solution solves an annual problem in the ~$1.2T range. While your doing the math, describe the political strategy for getting it passed.
If you go to the following links you can find the latest status of te House Appropriations Bills.
Subcommittees Agriculture, Rural Development, Food and Drug Administration, and Related Agencies
Commerce, Justice, Science, and Related Agencies
Energy and Water Development, and Related Agencies
Financial Services and General Government
Interior, Environment, and Related Agencies
Labor, Health and Human Services, Education, and Related Agencies
Military Construction, Veteran Affairs, and Related Agencies
State, Foreign Operations, and Related Programs
Transportation, Housing and Urban Development, and Related Agencies
keep up the good work. i have already showed you the math. and no it does not keep up with an ANNUAL trillion dollar deficit.
and yes, all voters are against tax increases. but we still need to pay for what we already bought. and we need to pay for what we are going to need.
sorry, but this is not a Republic for two year olds.
CoRev appears to be saying
that because voters when asked say they are against taxes and for cuts that we should not pay our bills or do the things that need to be done.
CoRev, with all respect, this is the stupidity that politicians play to.
There was a time when most voters understood what they got from government spending… and thought the rich should pay for it. Those were the voters that Dem politicians played to.
Nowadays most voters don’t understand what they get from government spending and think they are or will be “the rich” and don’t want to pay taxes. These are the voters the R politicians play to.
It doesn’t mean it works to try to run the country that way.
it’s as if CoRev and nine of his friends went to a restaurant and enjoyed a fine meal. then they all had a vote… by secret ballot.
__ I should pay the bill.
__ Somebody else should pay the bill.
The vote was unanimous, so they walked out without paying the bill.
where would we be today if mccain had won?
No, Obama Care, a better formulated stimulus bill, and no war in Libya.
In my opinion we would have improved more and faster economically, fewer unemployed, and a smaller deficit.
“In my opinion…….” CoRev
That is the most accurate comment you have yet made on AB. The rest of the statement is little more than speculative sour grapes. In the same manner one might speculate that if McCain had been thoughtful enough to choose to run with a VP candidate that had something worth while to contribute to any political debate he might very well have won. Instead he chose an air head who has manged to parlay the notoriety of helping to lose the election into a media darling career.
Baby steps, Jack, baby steps. Maybe the commenting infrastructure could be configured to automatically start all CRs comments with those three words…
Meanwhile those nostalgic for Ws stewardship are developing the sequel: President Rick Perry. http://www.realclearpolitics.com/articles/2011/07/25/rick_perry_eyes_late_august_campaign_launch_110695.html
Curious, have you now taken to censorship? It seems this may be the only way to ask this, as the address printed on your post is invalid, according to the system delivery, but is O.K. to send to my in-box! Just wondering why the posts seem a day late?
very unlikely here anyone has taken to censorship. you need to check carefully what you are doing. sometimes those system delivery messages are a little mysterious. is there a stray comma or dot or space somewhere in the address. check your calendar and remember time zones.
For those of you who may be harboring the illusion that there is an economy wide recession this article and headline from the NY Times this AM. We can always rely upon the journal of record to remind us that its focus is on the more important aspects of economic life.
“To Reach Simple Life of Summer Camp, Lining Up for Private Jets”
And just in case these travel issues prove to be interfering with daily life one can always use those tax savings to take the next big step up.
“It’s a crazy world out there,” she added. She now sends her children to camp in Europe.”
It’s good to see that the Bush/Obama Tax Holiday for the Rich is adding to some sectors of the economy.
“Look, John’s last-minute economic plan does nothing to tackle the number-one job facing the middle class, and it happens to be, as Barack says, a three-letter word: jobs.
J-O-B-S, jobs.”-Joe Biden
Yep….boy we really scored with Joe Biden. Real Impressive!
I’n not sure of what your point is, especially in that you address your comment to me. Have you in some way devined that I’m a cheer leader for the current administration? I measure current and recently past political leadership in this country on a scale of 1 to 10, with 15 being barely adequate. The worst part of being a witness to the current absurdity that we’re offered as a Congress and Presidencial office is looking at what is available to replace the current occupants. You may think otherwise, but I don’t see that any average American is being adequately represented in either branch of the government. We’ve got a combination of simple minded extremists, former lobbiests (acting in those former roles, but as elected representatives), self interested toadies to great wealth and a scant few able minded centrists.
Sure Biden is no winner, but look at the rest of them. I can’t even imagine Mitch McConnell, John Boehner, Eric Cantor et al in his place, and no, the Democrats have little better to offer except that they don’t seem quite so anti-government.
Coberly, no, I use the reply button, it prints the same address as what is on the incoming E-mail. I have noticed though that everything that goes through AOL seems to react the same way. If I didn’t know better, I would begin to think that I have been x’ed on some of the sites as a provocateur of some sort or another. Perhaps it’s because I don’t drink the koolaid some of them serve up? Oh well, thanks anyway Coberly, ar least your gentleman enough to respond.
“sorry, but this is not a Republic for two year olds.”
I wouldn’t be so confident. 52% of the country did vote for the mommy party and put a super majority of Democrats into the House and Senate including a man with no experience into the Executive Branch.
Don’t be so hard on the two year olds, they actually may have something to bring to the table at this point!
i am a bit confused. in fact i know nothing about computers these days. but the blog has nothing to do with email. and, yes, i have had some strange experience with aol email from me to those who have it. i don’t.
if you press reply on this blog all that should happen (happens to me) is that eventually you get a little box with your name on it, and a space to right in your comment. and a button at the bottom that says “Post” or “Cancel”.
But again, we don’t even censor CoRev. except when i am too mean to him and they have to censor me. then just to be fair they might give him an equal time out. but you are one of the contributors that i at least am always glad to see.
It should prove very interesting to see how Democrats on the blogs and elsewhere defend Senator Reid’s federal budgets’ deficit reduction plan. It has been obvious that Democrats have been quick to thoroughly condemn most if not all Republicans positions on deficit reduction.
How will the Democrats handle Harry?
The obvious compromise between the Reid and Boehner plans
It will be interesting also to see what CBPP has to say, considering that they have already attacked Boehner’s plan. I am not convinced that CBPP’s Greenstein has actually seen a hard copy of Boehner’s plan based on what he said about it.
CBPP Statement on Boehner’s plan
July 25, 2011
Defending Reid’s plan is not going too well on another econ blog. One poster, anne, summed it up nicely:
“Do explain why only, only, only Republican spending cuts are a problem for the economy but Democratic spending cuts which are larger are no problem at all? Why is Democratic austerity better than Republican austerity for an economy that has 1.47 million fewer men and women working now than in December 2000? I really want to know.”
AB’s main posters could put up a main post on this issue, too. Erza Klein has done all of the hard work. Robert was quick to slap the Republicans around. Does he intend to go after Reid as well?
What say you, Democrats? Do you support Reid’s plan?
OBAMA VS BOEHNER
Video: Obama vs Boehner
Transcript: Obama vs Boehner
Another story documenting our newest emergent underclass: http://www.nytimes.com/2011/07/26/business/help-wanted-ads-exclude-the-long-term-jobless.html?_r=1&hp
Employment has become redefined as a one-way process. Once an employer rejects you (Or for that matter fails to keep you working) you’re out for good. Can anybody imagine a regulatory or political response to this?
After the fact I realized my concluding question contained an inherent if predictable bias. So I will amend it: Can anybody imagine a free market or competition based response?
I can’t. By my understanding this is exactly the kind of discretion and prejudice implicitly protected by free enterprise/markets. If I put on my manager/owner hat I can easily justify this winnowing as a time saver if nothing else. Why bother considering people who aren’t already accustomed to the existing regime of unpaid overtime and declining wages and benefits?
But I grant that my limited experience with that hat decades ago may have also made it difficult for me to see how the god of competition will provide an answer.
on the chance that you get this. I am not a democrat. but you miss some of the details in the plans that do make them different. you also miss the politics of the Reid plan which was apparently to bring the R’s out to oppose the very proposals they themselves made.
i will keep saying, though no one notices, that the details matter. Most folks get a horseback view of something and if they like the color of it, they “agree” with it. they just don’t have time for details and they must abide the unintended consequences… but not learn from them.
you are not wrong. the power of employers, esp big employers, to treat workers as no different from machines… or worse.. machines that may have dangerous opinions… has been noticed before and people have attempted to provide a countervailing power. almost always the people lose in the long run. we are probably watching the beginning of a very long run.
oh by the way. competition is not the problem. at least small scale competition should provide an answer, and the free market apologists will insist that it does… the workers just pack up and go work for someone who offers them a better deal.
sadly, the facts of the real world suggest that this is not so easy. power inevitably goes to the big guy and can only be resisted by community action… and that is very very hard to come by.
I didn’t miss anything in reading the two plans. Sure, they’re different. I didn’t indicate any preference for either plan. But I do question why Democrats are so quiet about Reid’s plan.
Reid’s plan includes over $1 trillion in supposed defense savings due to reduced war spending that was already known to the negotiating parties. That’s not new savings. Reid’s plan is a sham.