Re-posted with the permission of the author Mark Thoma at Maximum Utility. The Budget Deficit Debate: Avoiding the Real Problem I’ve been asked several times how I feel about the president’s proposed budget, and I find it hard to answer. For me, it all comes down to the following diagram: [Source: CBO] The main problem, […]

From the Capitol Times op-ed (hat tip juan): In fact, like just about every other state in the country, Wisconsin is managing in a weak economy. The difference is that Wisconsin is managing better — or at least it had been managing better until Walker took over. Despite shortfalls in revenue following the economic downturn […]

Brendan Fischer via PR Watch writes on the budget process in Wisconsin, with links here: Where is the Budget Crisis?. Wisconsin Governor Scott Walker alleges that dismantling public sector collective bargaining rights is made necessary by a $3.6 billion deficit in the next budget, and a $137 million shortfall this year. Setting aside the fact […]

The Best of State Tax Expenditure Disclosure is worth some comment: While the federal government offers no insight into where an estimated $1 trillion in tax breaks go every year, some states are beginning to provide information about which corporations benefit from local tax spending programs. None of the state websites are perfect, but their […]

Worthwhile Canadian Initiative’s Stephen Gordon suggests “that even if an economic model cannot predict market failure, it can still be quite valuable in helping with the remedy”. Lots of thoughts occur to me, but will join the discussion in comments.

by Linda Beale Truth in Budget Numberscrossposted with Ataxingmatter Seems like everybody these days is into misrepresenting, distorting, or at least stretching the facts to suit the spin they want to give. One issue that I raised in my snarky post on the 15th about the Budget commentary was the way most media has described […]

The Continuing Resolution (H.R. 1) was introduced Friday night. Information about the bill (copy of the legislation, bill summary, list of program cuts, and the subcommittee savings tables) is linked here: Appropriations Committee Introduces CR Containing Largest Spending Cuts in History February 11, 2011 CR Spending Cuts to Go Deep February 9, 2011 Rogers Announces […]

FY 2012 Federal Budget The following links are to federal government sources for the federal budget, OMB The Budget Summary Tables Terminations, Reductions and Savings TESTIMONY OF JACOB J. LEW DIRECTOR OFFICE OF MANAGEMENT AND BUDGET BEFORE THE SENATE COMMITTEE ON THE BUDGET February 15, 2011