Duncan Black over at Eschaton posts: “One possibility I haven’t seen raised elsewhere is that Trump intends to announce massive tariffs lasting years, the Republicans will “book” this revenue when they do their budget bill, cut taxes on rich people accordingly, and then just erase (some of) the tariffs. “Some budget shenanigans are above my […]
Monthly Budget Review for July 2015 Bolding mine: The federal government’s budget deficit amounted to $463 billion for the first 10 months of fiscal year 2015, CBO estimates. That deficit was $2 billion larger than the one recorded during the same period last year. If not for shifts in the timing of certain payments (which […]
With the release of Tim Geithner’s new autobiography the old quarrel about whether Social Security does or even can add to “the deficit” has cropped up again. So rather than weigh in let me start from a more neutral spot. CBO produces a document called the Monthly Budget Review and in Nov 2013 it carried […]
As we continue this fight regarding the national budget, funding for the people, (food, unemployment, medical), entitlements and the overall moral position this nation has and will take with its money, let’s recall the truth about a program that was sold and is still sold as a benefit for the people. It’s cost is intentionally […]
It’s history lesson time again. An awful lot of talk and writing about the chained CPI has been focused on the results of its implementation on Social Security. Using this formula for figuring the cost of living ends up reducing the money citizens will receive in their SS checks. One of our commenters, Denis Drew […]
In support of Beverly’s latest post and all her past postings wanting for Obama (or the Dem’s in general I would say) to explain the truth about how a government’s money really flows, I present this video from the Watson Institute. (via Didby at Hullaaloo.) I happen to agree, it would be nice if our […]
With all this stalemate posturing in Washington, today Chris Hayes has come up with the best idea I have heard yet to move the players. And, in my opinion actually solve our economic depression. One trillion dollars to be spent on direct hiring by the government along with debt forgiveness. A solution right out […]
I promise, there are numbers here, but lets have some fun first and write a screen play to set up the point. It is long, but… “Dear, I’m getting nervous. We seem to keep adding to how much money we owe and our income hasn’t changed for the better. What can we do?” […]
And another view on the upcoming election deals we need to worry about in addition to party agendas and deals. Doubling down on upward distribution of wealth remains the name of this game…it is hard enough to debate real budget issues without this party going on: Deficit debate driven by the wealthy, by Michael Hiltzik, […]
Stan Collender notes that, for the first time in four years, the U.S. Treasury reported a surplus in the month of April. It isn’t just that there was a surplus in April of 2008, though. If you look back through Aprils (data here), the last time that month showed a deficit is 1983—the April less […]