The Foolishness of Trying to Solve the Deficit Forever

By: Friday December 7, 2012 9:20 am

One of the few justifications I’ve heard for focusing so much time on reducing the deficit at this moment, even though people are practically paying the federal government for the privilege of being able to loan it money, is that somehow we can “fix the problem forever.” The logic goes that if only we could [...]

Dear Lloyd Blankfein: The Actual Market Is Not Concerned About US Debt

By: Wednesday November 21, 2012 6:33 am

Goldman Sachs CEO Lloyd Blankfein is calling for Social Security and Medicare spending to be “contained.”

Peter Diamond Advocates for Getting Rid of Democracy

By: Tuesday November 20, 2012 7:44 am

It is amazing to watch how desperate some of the so-called “deficit hawks” are to cut Social Security and Medicare. Peter Diamond wants to see these programs cut so badly that he is effectively advocating we sacrifice the core principles of democracy just to make it happen. In his New York Times Op-Ed, Diamond says [...]

The Never Changing Demand for $4 Trillion

By: Thursday October 4, 2012 10:21 am

Perhaps the greatest sign that the “debt debate” in Washington lacks substance or any real concern about the deficit is that there is never an actual objective goal, like a deficit that is some percent of GDP by 2022. Instead the calls seem always focused on demanding a single grand bargain deal for “$4 trillion [...]

The False Framing in the Sequestration Debate

By: Friday September 14, 2012 1:25 pm

When caught up in the height of the deficit hysteria during the debt ceiling fight Congress voted for a set of very stupid across the board cuts known as sequestration. Since Democrats and Republicans couldn’t reach a deal at the time, they thought a great idea was to create a really bad law no one [...]

Voters Value Entitlements Over Deficit Reduction

By: Friday June 15, 2012 10:54 am

While Americans claim to, in the abstract, care about the deficit, they overwhelmingly don’t want entitlement programs cut to reduce the deficit, according to the new Pew Research poll. The public overwhelmingly regards Social Security as a program that has been good for the country, with 87% holding that view. More than three-quarters (77%) also [...]

Almost No Regular Americans Rank Deficit As Their Top Issue

By: Tuesday May 22, 2012 10:26 am

Just one single percent of Americans rank the deficit as the most important issue for them in choosing a president, according to the new Washington Post/ABC News poll. The percentage of Americans who think the deficit is the most important issue this election is so incredibly tiny that it is practically unmeasurable. What Americans really [...]

Federal Crop Insurance Wastes a Billion Dollars on Corporate Welfare

By: Thursday April 12, 2012 11:19 am

The Government Accountability Office took a look at the federal government crop insurance program and the result isn’t pretty. We effectively waste $1 billion a year providing corporate welfare to very large agribusiness operations. From the GAO: If a limit of $40,000 had been applied to individual farmers’ crop insurance premium subsidies, as it is [...]

Looking at Our Budget and Our Actual Needs

By: Friday April 6, 2012 8:20 am

If you are truly worried about the budget deficit, which is an idiotic thing to actually be worried about at a time of incredibly low government borrowing rates and high unemployment, the place to start would be looking at the basic outline of the federal budget. From the Center on Budget and Policy Priorities: As [...]

Americans Don’t Blame the Social Safety Net for the Deficit

By: Tuesday February 14, 2012 1:17 pm

The American people don’t subscribe to the conservative position about why our nation has a deficit. Most people blame our deficit not on excessive social spending but instead on low taxes for the rich or the huge military budget, according to this National Journal poll. As important, the survey found Americans unconvinced that safety-net programs [...]

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