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Posts tagged deficit

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Right-Wing Media Erroneously Compare The Federal Budget To A Household Budget | Blog | Media Matters for America

novenator:

The best analogy I’ve heard, “The Federal budget is like a household budget, IF you can print your own money in the basement.” Can’t recall source. 
  Another thing that right wingers (who only care about deficits when a Democrat is in the White House) ignore is that military-related expenditures account for about *half* of the federal budget (assuming Social Security is considered an independent program like it is supposed to be). http://www.truth-out.org/archive/item/94731:the-real-us-national-security-budget-the-figure-no-one-wants-you-to-see
  Finally, if conservatives really cared about fixing the deficit, they wouldn’t continue to push “Starve The Beast” policies that necessitate heavy borrow-and-spend tactics, as well as huge tax cuts for the rich and corporations. 
quotes3567 

Filed under deficit gop lies

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Fix the Debt is the most hypocritical corporate PR campaign in decades

Fix the Debt  is an ambitious attempt to convince the country that another cataclysmic economic crisis is around the corner and that urgent action is needed. Its strategy is pure astroturf: assemble power players in business and government under an activist banner, then take the message outside the Beltway and give it the appearance of grassroots activism by manufacturing an emergency to infuse a sense of imminent crisis.

Behind this strategy are no fewer than 127 CEOs and even more “statesmen” pushing for a “grand bargain” to draw up an austerity budget by July 4. With many firms kicking in $1 million each on top of Peterson’s $5 million in seed money, this latest incarnation of the Peterson message machine must be taken seriously.

Austerity, ‘cause the wealthy need more.

Filed under deficit one percent ows austerity

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Sequestration?????
Sequestration is a series of past-legislated predetermined huge budget cuts, totaling $1.2 trillion, that are scheduled to automatically go into effect very soon. Budget cuts are necessary because America is deeply in debt. These cuts are evenly split between defense and domestic discretionary spending. Many people refer by metaphor to the actualization of these budget cuts as going over a cliff, the fiscal cliff. Some people believe that if these poorly planned cuts really kick in, a monster economic recession will result. Those Americans with little, will have much less and the resulting minimalist survival is called austerity. Hard as it is to believe, sequestration was never meant to be implemented. It was created as a motivational “tool” by legislators for legislators so that legislators would actually do their jobs, pass laws to reduce spending and thereby reduce the deficit. Repeat that, until it sinks in - never actually meant to be realized…just another bright idea to scare themselves into being effective. They weren’t effective; really, they failed to pass a single law and we now face an imminent auto-budget slash, also known as sequestration or going over the fiscal cliff. The debate on whether or not to allow this thing to happen (they may stop it) is from more corners than left or right. If sequestration is allowed to happen, will the result be good, bad or good and bad.
Eg. Bad: sequester budget cuts on discretionary spending creates austerity, and by Europe’s austerity example will cause unemployment to worsen and the economy to die. Austerity is a faux fix. Jobs are crucial to a recovery and our survival.
Eg. Good: sequester budget cuts on military spending as written would be huge and many progressives/anti-gargantuan military budget see this as maybe the only chance to reduce military spending with any real significance. Sequester cuts too, do not effect entitlements: social security, etc.


In the past, policymakers have handled such moments by delaying the pain and giving themselves new deadlines for getting the budget under control. Now, however, the national debt is larger, as a percentage of the economy, than at any time in U.S. history - except for the period after World War II - and it’s rising rapidly. Avoiding hard decisions could have grave consequences, analysts say, potentially undermining the U.S. economic recovery and the world’s confidence in American leadership.
This is incredibly muddled. Is it the national debt that stands as a threat to our economy? Or is it the austerity measures that we’re trying to avoid? If it’s the latter, then what problem is there in kicking the can down the road and allowing the economy to recover more before dealing with long-term debt reduction?
The current incoherence of deficit hawks has everything to do with the fact that it’s not actually the deficit that they care about. Figures like Erksine Bowles, Alan Simpson, and others are most concerned with cutting entitlement spending and keeping taxes low. They want to avoid the fiscal cliff because they see that as antithetical to their goals, and they’re right: An austerity-sparked recession would make it more difficult to implement the policy measures they want.
Given the near-unanimous desire to avoid a second recession, lawmakers are likely to find some way to avoid the fiscal cliff. In the meantime, it has served a useful purpose for those of us who want to move the deficit away from the forefront of policymaking: It’s revealed the extent to which “deficit reduction” is little more than a vehicle for advancing narrow ideological preferences.


So, if the sequestration kicks in, entitlements unaffected,  taxes raised on the rich and drastic cuts to military spending, why would progressives complain?
There seems to be little debate here to the disparity in wealth in America and the concentration of money into the hands of a few, where it pools and is not in flow as part of a vibrant economy.
The US Constitution was not written by the poor for the poor nor by the wealthy for the poor, but by the wealthy for the wealthy and its focus is simple: if too few have too much (power, wealth and influence) it falls apart for everyone, in the form of slavery, poverty and war.
 And As Always, GOP is SHIT.

Sequestration?????

Sequestration is a series of past-legislated predetermined huge budget cuts, totaling $1.2 trillion, that are scheduled to automatically go into effect very soon. Budget cuts are necessary because America is deeply in debt. These cuts are evenly split between defense and domestic discretionary spending. Many people refer by metaphor to the actualization of these budget cuts as going over a cliff, the fiscal cliff. Some people believe that if these poorly planned cuts really kick in, a monster economic recession will result. Those Americans with little, will have much less and the resulting minimalist survival is called austerity. Hard as it is to believe, sequestration was never meant to be implemented. It was created as a motivational “tool” by legislators for legislators so that legislators would actually do their jobs, pass laws to reduce spending and thereby reduce the deficit. Repeat that, until it sinks in - never actually meant to be realized…just another bright idea to scare themselves into being effective. They weren’t effective; really, they failed to pass a single law and we now face an imminent auto-budget slash, also known as sequestration or going over the fiscal cliff. The debate on whether or not to allow this thing to happen (they may stop it) is from more corners than left or right. If sequestration is allowed to happen, will the result be good, bad or good and bad.

Eg. Bad: sequester budget cuts on discretionary spending creates austerity, and by Europe’s austerity example will cause unemployment to worsen and the economy to die. Austerity is a faux fix. Jobs are crucial to a recovery and our survival.

Eg. Good: sequester budget cuts on military spending as written would be huge and many progressives/anti-gargantuan military budget see this as maybe the only chance to reduce military spending with any real significance. Sequester cuts too, do not effect entitlements: social security, etc.

In the past, policymakers have handled such moments by delaying the pain and giving themselves new deadlines for getting the budget under control. Now, however, the national debt is larger, as a percentage of the economy, than at any time in U.S. history - except for the period after World War II - and it’s rising rapidly. Avoiding hard decisions could have grave consequences, analysts say, potentially undermining the U.S. economic recovery and the world’s confidence in American leadership.

This is incredibly muddled. Is it the national debt that stands as a threat to our economy? Or is it the austerity measures that we’re trying to avoid? If it’s the latter, then what problem is there in kicking the can down the road and allowing the economy to recover more before dealing with long-term debt reduction?

The current incoherence of deficit hawks has everything to do with the fact that it’s not actually the deficit that they care about. Figures like Erksine Bowles, Alan Simpson, and others are most concerned with cutting entitlement spending and keeping taxes low. They want to avoid the fiscal cliff because they see that as antithetical to their goals, and they’re right: An austerity-sparked recession would make it more difficult to implement the policy measures they want.

Given the near-unanimous desire to avoid a second recession, lawmakers are likely to find some way to avoid the fiscal cliff. In the meantime, it has served a useful purpose for those of us who want to move the deficit away from the forefront of policymaking: It’s revealed the extent to which “deficit reduction” is little more than a vehicle for advancing narrow ideological preferences.

So, if the sequestration kicks in, entitlements unaffected,  taxes raised on the rich and drastic cuts to military spending, why would progressives complain?

There seems to be little debate here to the disparity in wealth in America and the concentration of money into the hands of a few, where it pools and is not in flow as part of a vibrant economy.

The US Constitution was not written by the poor for the poor nor by the wealthy for the poor, but by the wealthy for the wealthy and its focus is simple: if too few have too much (power, wealth and influence) it falls apart for everyone, in the form of slavery, poverty and war.

 And As Always, GOP is SHIT.

Filed under sequestration deficit taxes slavery poverty disparity

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Will of the People
The point of Democracy is that legislators represent the wishes of the people, their constituency. They don’t. That these legislators might “know something the people don’t” and are acting in our best interest albeit against our wishes is………preposterous. The clown show in the Republican House, including the latest vote for plan fail, the insane field of Republican candidates presented by the GOP for 2012, no attention to global warming and the utter incompetence of these jackasses in office exposed by Wikileaks is a clear view into the abyss of profound corruption and incompetence offered by our current rank and file of dimwit lowlife politicians. No, no, no they do not know what is best; simply put, American politicians are incompetent, bought off morons careening drunkenly on an acid trip. They do not lead. There is no conceivable possibility that our president, our senators and our congressmen do little more than suck corporate cock and fret over their own re-elections with oblivious disregard to all else.
Too many polls. So many polls indicate that most Americans, Republicans included want the wealthy taxed and do not want Social Security, Medicare or Medicaid on the table. So what gives? Obama offers to cut Medicare against the people’s wishes! What else gives? The Republican House votes against it and not because of Medicare but because some small increase on taxes for the wealthy is on the table!
Neither Obama or the Republicans represent their constituents - the American people.

Again in an election night poll sponsored by the Campaign for America’s Future, voters were asked what they would find acceptable in a deal to cut deficits. Sixty-two percent said cutting Social Security over time was unacceptable. Even more, 72 percent, opposed cutting discretionary spending, like “education, child nutrition, worker training and disease control.” Almost four-fifths, 79 percent, opposed forcing seniors to pay more for Medicare.
As for raising taxes on the top 2 percent, more than two-thirds, 70 percent – including a majority of Republicans – found it acceptable. Far more, 89 percent, supported saving Medicare costs by negotiating lower drug prices from drug companies. Seventy-two percent supported reducing military spending by ending the war in Afghanistan. More than two-thirds supported a minimum tax on corporate profits reported overseas.
Obama and Republican Legislators are not listening to Americans. The current fight is not between Americans, it is between a bunch of cocksucking trash that does not include Americans opinions and wishes in discussion about their own country.  Americans are given no government representation by a totally dysfunctional and pathological group of perversely elected scumbags.
If Not Americans, who does Obama and House Republicans represent?

Will of the People

The point of Democracy is that legislators represent the wishes of the people, their constituency. They don’t. That these legislators might “know something the people don’t” and are acting in our best interest albeit against our wishes is………preposterous. The clown show in the Republican House, including the latest vote for plan fail, the insane field of Republican candidates presented by the GOP for 2012, no attention to global warming and the utter incompetence of these jackasses in office exposed by Wikileaks is a clear view into the abyss of profound corruption and incompetence offered by our current rank and file of dimwit lowlife politicians. No, no, no they do not know what is best; simply put, American politicians are incompetent, bought off morons careening drunkenly on an acid trip. They do not lead. There is no conceivable possibility that our president, our senators and our congressmen do little more than suck corporate cock and fret over their own re-elections with oblivious disregard to all else.

Too many polls. So many polls indicate that most Americans, Republicans included want the wealthy taxed and do not want Social Security, Medicare or Medicaid on the table. So what gives? Obama offers to cut Medicare against the people’s wishes! What else gives? The Republican House votes against it and not because of Medicare but because some small increase on taxes for the wealthy is on the table!

Neither Obama or the Republicans represent their constituents - the American people.


Again in an election night poll sponsored by the Campaign for America’s Future, voters were asked what they would find acceptable in a deal to cut deficits. Sixty-two percent said cutting Social Security over time was unacceptable. Even more, 72 percent, opposed cutting discretionary spending, like “education, child nutrition, worker training and disease control.” Almost four-fifths, 79 percent, opposed forcing seniors to pay more for Medicare.

As for raising taxes on the top 2 percent, more than two-thirds, 70 percent – including a majority of Republicans – found it acceptable. Far more, 89 percent, supported saving Medicare costs by negotiating lower drug prices from drug companies. Seventy-two percent supported reducing military spending by ending the war in Afghanistan. More than two-thirds supported a minimum tax on corporate profits reported overseas.

Obama and Republican Legislators are not listening to Americans. The current fight is not between Americans, it is between a bunch of cocksucking trash that does not include Americans opinions and wishes in discussion about their own country.  Americans are given no government representation by a totally dysfunctional and pathological group of perversely elected scumbags.


If Not Americans, who does Obama and House Republicans represent?

Filed under tax fisical medicare deficit obama concervative

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Robert Reich: The President's Opening Bid on a Grand Bargain: Aim High

I hope the President starts negotiations over a “grand bargain” for deficit reduction by aiming high. After all, he won the election. And if the past four years has proven anything it’s that the White House should not begin with a compromise.

Assuming the goal is $4 trillion of deficit reduction over the next decade (that’s the consensus of the Simpson-Bowles commission, the Congressional Budget Office, and most independent analysts), here’s what the President should propose:

First, raise taxes on the rich – and by more than the highest marginal rate under Bill Clinton or even a 30 percent (so-called Buffett Rule) minimum rate on millionaires. Remember: America’s top earners are now wealthier than they’ve ever been, and they’re taking home a larger share of total income and wealth than top earners have received in over 80 years.

Why not go back sixty years when Americans earning over $1 million in today’s dollars paid 55.2 percent of it in income taxes, after taking all deductions and credits? If they were taxed at that rate now, they’d pay at least $80 billion more annually — which would reduce the budget deficit by about $1 trillion over the next decade. That’s a quarter of the $4 trillion in deficit reduction right there.

A 2% surtax on the wealth of the richest one-half of 1 percent would bring in another $750 billion over the decade. A one-half of 1 percent tax on financial transactions would bring in an additional $250 billion.

Add this up and we get $2 trillion over ten years — half of the deficit-reduction goal.

Raise the capital gains rate to match the rate on ordinary income and cap the mortgage interest deduction at $12,000 a year, and that’s another $1 trillion over ten years. So now we’re up to $3 trillion in additional revenue.

Eliminate special tax preferences for oil and gas, price supports for big agriculture, tax breaks and research subsidies for Big Pharma, unnecessary weapons systems for military contractors, and indirect subsidies to the biggest banks on Wall Street, and we’re nearly there.

End the Bush tax cuts on incomes between $250,000 and $1 million, and — bingo — we made it: $4 trillion over 10 years.

And we haven’t had to raise taxes on America’s beleaguered middle class, cut Social Security or Medicare and Medicaid, reduce spending on education or infrastructure, or cut programs for the poor.

Mr. President, I’d recommend this as your opening bid. With enough luck and pluck, maybe even your closing bid. And if enough Americans are behind you, it could even be the final deal.

Filed under reich obama deficit bargan politics

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GOP Serves Whine Buffet Before Filibustering Buffett Rule: Doesn’t Tax Enough, Isn’t Fair Enough, Not Bipartisan Enough
Robert Borosage calls today’s vote on the Buffett Rule legislation “a no-brainer. The Senators who oppose this minimal standard have shred all sense of decency. Only the corrupt or the morally bankrupt could vote to protect the ability of the richest Americans to pay a lower rate of taxes than the rest of us.”
Republican Party Is Shit

GOP Serves Whine Buffet Before Filibustering Buffett Rule: Doesn’t Tax Enough, Isn’t Fair Enough, Not Bipartisan Enough

Robert Borosage calls today’s vote on the Buffett Rule legislation “a no-brainer. The Senators who oppose this minimal standard have shred all sense of decency. Only the corrupt or the morally bankrupt could vote to protect the ability of the richest Americans to pay a lower rate of taxes than the rest of us.”

Republican Party Is Shit

Filed under tax wealthy gop republican disparity economy deficit whine

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Defense Budget: Fire Leon Panetta, He Is Just One More Hack
Secretary of Defense Leon Panetta took 27 trips to his California home aboard military aircraft in his first nine months at the Pentagon. Although Panetta paid $17,000 for the trips himself, an amount similar to what it would have cost to fly on commercial planes, the Pentagon spent $860,000 to operate the flights for Panetta. Read more at The Navy Times.
Now We Know Why Panetta Wants the Defense Budget Raised. Incompetent, Corrupt Whores Like Panetta Can’t Avoid Reckless, Useless Spending. Save the Internet! Government Transparency is an Absolute Necessity for America’s Survival.

Defense Budget: Fire Leon Panetta, He Is Just One More Hack

Secretary of Defense Leon Panetta took 27 trips to his California home aboard military aircraft in his first nine months at the Pentagon. Although Panetta paid $17,000 for the trips himself, an amount similar to what it would have cost to fly on commercial planes, the Pentagon spent $860,000 to operate the flights for Panetta. Read more at The Navy Times.

Now We Know Why Panetta Wants the Defense Budget Raised. Incompetent, Corrupt Whores Like Panetta Can’t Avoid Reckless, Useless Spending. Save the Internet! Government Transparency is an Absolute Necessity for America’s Survival.

Filed under defense budget oversight transparency colonial deficit military industrial complex panetta obama

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House Democrats: If GOP Is Intent On ‘Destroying Gov’t,’ Obama Should Use 14th Amendment To Raise Debt Ceiling.

  House Democratic Caucus Chairman Rep. John Larson (CT) and Assistant Minority Leader Jim Clyburn (SC) explained that their colleagues believe that if Republicans are intent on “destroying government,” then there should be a “fail-safe mechanism” to ensure that the debt ceiling is hiked and that this mechanism is the 14th amendment.

Filed under 14 deficit ceiling war standoff politics house gop corporate rule

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Voters Fear Debt Deal Will Hurt Medicare.
   Americans expressed more trust in President Obama than in congressional  Republicans to make decisions about both the federal deficit and debt  ceiling, but continued to display little urgency about the risk of  default if the two sides remain stalemated, a new United Technologies/National Journal Congressional Connection Poll found. Call it the great disconnect….
……….maybe the people are not disconnected so much as they ignorant to the fact that Republicans “sales pitch”  them and that most people, low info people, are not able to fathom that there is an elected group of people entrusted to hold dear the life of this country…and they don’t. The people are unable to process the information that Republican legislators truly wish to destroy this country rather than have a successful Democratic president.
……….maybe people ignorantly believe that “both” parties are “stubborn” and that this stubbornness is sole hindrance to progress rather than willful blocking by the Republicans, as Republican legislators truly do not care if the Government defaults as long as Obama, a Democrat is not re-elected.
……….maybe people are in denial of the fact that they, the people have been so ignorant for so long that America has declined to the point where those Republicans they elected by being sales pitched are about as interested in the welfare of Americans as Hitler was the success of Jews.
GOP is SHIT.

Voters Fear Debt Deal Will Hurt Medicare.

   Americans expressed more trust in President Obama than in congressional Republicans to make decisions about both the federal deficit and debt ceiling, but continued to display little urgency about the risk of default if the two sides remain stalemated, a new United Technologies/National Journal Congressional Connection Poll found. Call it the great disconnect….

……….maybe the people are not disconnected so much as they ignorant to the fact that Republicans “sales pitch”  them and that most people, low info people, are not able to fathom that there is an elected group of people entrusted to hold dear the life of this country…and they don’t. The people are unable to process the information that Republican legislators truly wish to destroy this country rather than have a successful Democratic president.

……….maybe people ignorantly believe that “both” parties are “stubborn” and that this stubbornness is sole hindrance to progress rather than willful blocking by the Republicans, as Republican legislators truly do not care if the Government defaults as long as Obama, a Democrat is not re-elected.

……….maybe people are in denial of the fact that they, the people have been so ignorant for so long that America has declined to the point where those Republicans they elected by being sales pitched are about as interested in the welfare of Americans as Hitler was the success of Jews.

GOP is SHIT.

Filed under gop cancer death doom despair decay corporation ignorance politics shutdown deficit ceiling 2012 election obama

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  It is depraved to cut social insurance and health care programs for people who  are old and sick and cannot work. The idea that those people should be asked to  “share” in the alleged sacrifice of millionaires who leave more money in the  seats of their corporate jets than these people have left over at the end of the  month is outrageous. When that level of wealth inequality exists but the  government insists that little old ladies be forced to “pay more” so they’ll be  ” more responsible” (and call it shared sacrifice!) something has gone  fundamentally wrong. Fix that, we fix the country.
GOP is SHIT.

  It is depraved to cut social insurance and health care programs for people who are old and sick and cannot work. The idea that those people should be asked to “share” in the alleged sacrifice of millionaires who leave more money in the seats of their corporate jets than these people have left over at the end of the month is outrageous. When that level of wealth inequality exists but the government insists that little old ladies be forced to “pay more” so they’ll be ” more responsible” (and call it shared sacrifice!) something has gone fundamentally wrong. Fix that, we fix the country.

GOP is SHIT.

Filed under social gop tax deficit politics elderly inequality money rich cheat