US debt to surpass GDP on Halloween
The day of reckoning looms: The US debt will surpass the gross domestic product come Halloween.
The day of reckoning looms: The US debt will surpass the gross domestic product come Halloween.
Tag: budget
US debt to surpass GDP on Halloween
According to Zubrin, Obama about to terminate all NASA science
According to Robert Zubrin, the Obama administration is planning to terminate all funding to NASA’s planetary program, while cutting back significantly on its astronomy program.
Word has leaked out that in its new budget, the Obama administration intends to terminate NASA’s planetary exploration program. The Mars Science Lab Curiosity, being readied on the pad, will be launched, as will the nearly completed small MAVEN orbiter scheduled for 2013, but that will be it. No further missions to anywhere are planned. After 2013, America’s amazing career of planetary exploration, which ran from the Mariner probes in the 1960s through the great Pioneer, Viking, Voyager, Pathfinder, Mars Global Surveyor, Mars Odyssey, Spirit, Opportunity, Mars Reconnaissance Orbiter, Galileo and Cassini missions, will simply end.
Furthermore, the plan from the Office of Management and Budget (OMB) also leaves the space astronomy program adrift and headed for destruction. The now-orbiting Kepler Telescope will be turned off in midmission, stopping it before it can complete its goal of finding other Earths. Even worse, the magnificent Webb Telescope, the agency’s flagship, which promises fundamental breakthroughs in our understanding of the laws of the universe, is not sufficiently funded to allow successful completion. This guarantees further costly delays, with the ensuing budgetary overruns leading inevitably to eventual cancellation.
I suspect these cuts have been leaked now, months before the budget is publicly released, in order to whip up support for funding these programs. I also find it distressing that these programs, which cost practically nothing, are targets, while others that cost many many more billions (in NASA and elsewhere) remain fully funded.
According to Robert Zubrin, the Obama administration is planning to terminate all funding to NASA’s planetary program, while cutting back significantly on its astronomy program.
Word has leaked out that in its new budget, the Obama administration intends to terminate NASA’s planetary exploration program. The Mars Science Lab Curiosity, being readied on the pad, will be launched, as will the nearly completed small MAVEN orbiter scheduled for 2013, but that will be it. No further missions to anywhere are planned. After 2013, America’s amazing career of planetary exploration, which ran from the Mariner probes in the 1960s through the great Pioneer, Viking, Voyager, Pathfinder, Mars Global Surveyor, Mars Odyssey, Spirit, Opportunity, Mars Reconnaissance Orbiter, Galileo and Cassini missions, will simply end.
Furthermore, the plan from the Office of Management and Budget (OMB) also leaves the space astronomy program adrift and headed for destruction. The now-orbiting Kepler Telescope will be turned off in midmission, stopping it before it can complete its goal of finding other Earths. Even worse, the magnificent Webb Telescope, the agency’s flagship, which promises fundamental breakthroughs in our understanding of the laws of the universe, is not sufficiently funded to allow successful completion. This guarantees further costly delays, with the ensuing budgetary overruns leading inevitably to eventual cancellation.
I suspect these cuts have been leaked now, months before the budget is publicly released, in order to whip up support for funding these programs. I also find it distressing that these programs, which cost practically nothing, are targets, while others that cost many many more billions (in NASA and elsewhere) remain fully funded.
Doubts on Display from Congress during hearing on Private Space
Several Congressmen expressed doubts about and resistance to the new private space manned effort by companies like SpaceX during hearings today in the House.
Let’s be honest: it’s all about pork and only pork. Unfortunately, the new companies don’t deliver the same kind of pork to the right congressional districts, even if they might deliver a real product faster and for less money. To quote the article:
Dana Rohrabacher, R-Calif., rallied to the industry’s defense, citing a “hostility” to the private space industry. “Much to my dismay, I see some of the worst elements of decision making,” he said. “I see an anti-commercial-space attitude that could have very negative consequences.” Rohrabacher (who represents a district near SpaceX’s headquarters) seemed to chide Hall and Johnson, the two Texans who chair the panel, for parochial views. “Focusing on one’s own district and directing federal funds seems to be having a major impact on this decision,” he said.
As we anticipated yesterday, there were other regional pleas connected to the word of choice heard in the halls of Congress: jobs. Rep. Hansen Clarke, D-Mich., for instance, asked how the space contract could be used to create jobs in his district of metropolitan Detroit. The witnesses made the most diplomatic kowtows they could. “I’ve been pushing SpaceX to use more automotive suppliers,” Musk responded. Other space industry execs went on to claim Michigan subcontractors, to praise the auto industry, and to speak of spin-offs from space science programs.
Several Congressmen expressed doubts about and resistance to the new private space manned effort by companies like SpaceX during hearings today in the House.
Let’s be honest: it’s all about pork and only pork. Unfortunately, the new companies don’t deliver the same kind of pork to the right congressional districts, even if they might deliver a real product faster and for less money. To quote the article:
Dana Rohrabacher, R-Calif., rallied to the industry’s defense, citing a “hostility” to the private space industry. “Much to my dismay, I see some of the worst elements of decision making,” he said. “I see an anti-commercial-space attitude that could have very negative consequences.” Rohrabacher (who represents a district near SpaceX’s headquarters) seemed to chide Hall and Johnson, the two Texans who chair the panel, for parochial views. “Focusing on one’s own district and directing federal funds seems to be having a major impact on this decision,” he said.
As we anticipated yesterday, there were other regional pleas connected to the word of choice heard in the halls of Congress: jobs. Rep. Hansen Clarke, D-Mich., for instance, asked how the space contract could be used to create jobs in his district of metropolitan Detroit. The witnesses made the most diplomatic kowtows they could. “I’ve been pushing SpaceX to use more automotive suppliers,” Musk responded. Other space industry execs went on to claim Michigan subcontractors, to praise the auto industry, and to speak of spin-offs from space science programs.
Tea Party in Space argues for more money for commercial space
Andrew Gasser at the Tea Party in Space website today argues strongly for Congress to fully fund the new commercial space program at the $850 million amount requested by the Obama administration.
As much as I am for these new commercial companies, I do not think it a good idea to fund them at these high levels.
For one thing, the government is still broke. It can’t afford to spend that much money. It is therefore unseemly for a website that uses the “tea party” label to advocate more spending at this time.
For another, the more money the government commits to these companies, the more control the government is going to demand from them. Far better to keep the government participation as small as possible. Make it just enough to allow the companies to succeed but not enough so as to make the whole effort a government program.
Andrew Gasser at the Tea Party in Space website today argues strongly for Congress to fully fund the new commercial space program at the $850 million amount requested by the Obama administration.
As much as I am for these new commercial companies, I do not think it a good idea to fund them at these high levels.
For one thing, the government is still broke. It can’t afford to spend that much money. It is therefore unseemly for a website that uses the “tea party” label to advocate more spending at this time.
For another, the more money the government commits to these companies, the more control the government is going to demand from them. Far better to keep the government participation as small as possible. Make it just enough to allow the companies to succeed but not enough so as to make the whole effort a government program.
NASA negotiating an extension of its deal with the Russians to fly astronauts to ISS
How our government gets Americans in space in the modern era: NASA is negotiating an extension of its deal with the Russians to fly astronauts to ISS.
How our government gets Americans in space in the modern era: NASA is negotiating an extension of its deal with the Russians to fly astronauts to ISS.
More money troubles for Webb telescope
More money troubles for Webb telescope.
More money troubles for Webb telescope.
House Panel Lays Out Spending Preferences for science programs
The Republicans on the House science panel lay out their recommended spending plans for science.
Updated and bumped: First a correction: in my original post I had incorrectly assumed these recommendations were from the entire House panel, not from the Republicans alone. (You can read their actual letter here [pdf].)
Second, that these recommendations come from the Republicans alone is quite depressing, as it seems they don’t have the guts to cut much of anything. All these recommendations do is trim some programs around the edges. Overall, very little is cut at all, with almost all departments ending up with budgets greater than they had in 2008. Even NASA, whose budget is cut from the 2011 $18.8 billion down to $16.6 billion, still includes the billions allocated for the Congressionally-designed Space Launch System. As these Republicans depressingly enthuse, “We also strongly support proposed funding levels for the Space Launch System and the Multi-Purpose Crew Vehicle.”
With this kind of budget-cutting wimpiness from the Republicans, I expect the federal government to continue to grow in an out-of-control manner, even as the rest of the economy continues to tank.
The Republicans on the House science panel lay out their recommended spending plans for science.
Updated and bumped: First a correction: in my original post I had incorrectly assumed these recommendations were from the entire House panel, not from the Republicans alone. (You can read their actual letter here [pdf].)
Second, that these recommendations come from the Republicans alone is quite depressing, as it seems they don’t have the guts to cut much of anything. All these recommendations do is trim some programs around the edges. Overall, very little is cut at all, with almost all departments ending up with budgets greater than they had in 2008. Even NASA, whose budget is cut from the 2011 $18.8 billion down to $16.6 billion, still includes the billions allocated for the Congressionally-designed Space Launch System. As these Republicans depressingly enthuse, “We also strongly support proposed funding levels for the Space Launch System and the Multi-Purpose Crew Vehicle.”
With this kind of budget-cutting wimpiness from the Republicans, I expect the federal government to continue to grow in an out-of-control manner, even as the rest of the economy continues to tank.
Elon Musk and the forgotten word
When Elon Musk gave his speech at the National Press Club on September 29, he was asked one question to which he really did not know the answer. He faked it, but his response illustrated how completely forgotten is one fundamental fact about American society — even though this fact is the very reason the United States became the world’s most wealthy and powerful nation less than two centuries after its founding.
To explain this fundamental fact I think I need to take a step back and talk about the ongoing war taking place right now over how the United States should get its astronauts into space. On one side we have NASA and Congress, who want NASA to build a new heavy-lift rocket to carry its Orion capsule beyond Earth orbit. On the other side we have a host of independent new space companies, all vying for the chance to launch humans and cargo into space for fun and profit.
Which is right? What system should the United State choose?
» Read more
Europe has invited Russia to join the US/ESA ExoMars mission as full partner
Lacking sufficient funds, Europe has invited Russia to join the US/ESA ExoMars program as full partner.
Lacking sufficient funds, Europe has invited Russia to join the US/ESA ExoMars program as full partner.
Space News suggests Congress use the billions for NASA’s heavy-lift rocket to fund JWST
In an editorial yesterday Space News suggested that Congress use the billions it is allocating for NASA’s heavy-lift rocket to fund the James Webb Space Telescope instead.
This is not surprising. Webb already has a strong constiuency (astronomers, the public) while the Space Launch System has little support outside of Congress and the specific aerospace contractors who want the work. With tight budgets as far as the eye can see into the future, and the likelihood that Congress is going to become more fiscal conservative after the next election, it would not shock me in the slightest if SLS gets eliminated and the money is given to Webb. And if the SpaceX and Orbital Sciences cargo missions to ISS go well then cutting SLS would almost be a certainty, as this success would demonstrate that these private companies should be able to replace SLS for a tenth of the cost.
And I also think this would be a much wiser use of the taxpayers money.
In an editorial yesterday Space News suggested that Congress use the billions it is allocating for NASA’s heavy-lift rocket to fund the James Webb Space Telescope instead.
This is not surprising. Webb already has a strong constiuency (astronomers, the public) while the Space Launch System has little support outside of Congress and the specific aerospace contractors who want the work. With tight budgets as far as the eye can see into the future, and the likelihood that Congress is going to become more fiscal conservative after the next election, it would not shock me in the slightest if SLS gets eliminated and the money is given to Webb. And if the SpaceX and Orbital Sciences cargo missions to ISS go well then cutting SLS would almost be a certainty, as this success would demonstrate that these private companies should be able to replace SLS for a tenth of the cost.
And I also think this would be a much wiser use of the taxpayers money.
The Democratic Senate rejects Obama’s jobs plan
Just another indication of how politically weak Obama is: The Democratic Senate has rejected Obama’s jobs plan.
Just another indication of how politically weak Obama is: The Democratic Senate has rejected Obama’s jobs plan.
For the third year in a row the federal government runs a deficit exceeding $1.3 billion
For the third year in a row — all Obama years — the federal government ran a deficit exceeding $1.3 trillion.
For the third year in a row — all Obama years — the federal government ran a deficit exceeding $1.3 trillion.
1.6 million hand-signed petitions handed to Congress demanding Obamacare be repealed before it can be fully implemented
Right on! On Wednesday a petition with more than 1.6 million signatures was delivered to Congress, demanding Obamacare be repealed before it can be fully implemented.
Right on! On Wednesday a petition with more than 1.6 million signatures was delivered to Congress, demanding Obamacare be repealed before it can be fully implemented.
The Obama administration by the numbers
Simple, graphic, and devastating: The Obama administration by the numbers.
Simple, graphic, and devastating: The Obama administration by the numbers.
Bigelow lays off half its workforce
It’s confirmed: Bigelow Aerospace has laid off about half its workforce.
It’s confirmed: Bigelow Aerospace has laid off about half its workforce.
Bigelow lays off half its workforce
This isn’t confirmed, but a twitter comment via Trent Waddington suggests that Bigelow Aerospace has laid off half its workforce. (A hat tip also to Clark Lindsey.)
This isn’t confirmed, but a twitter comment via Trent Waddington suggests that Bigelow Aerospace has laid off half its workforce. (A hat tip also to Clark Lindsey.)
House proposes a budget increase for NIH
The Republican-controlled House has proposed a budget for National Institutes of Health (NIH) that is one billion more than last year’s budget, an increase from $30.7 to $31.7 billion.
What evil budget-cutters these Republicans are! Their mean-spirited budget increase has the nerve to reduce Obama’s budget request by about $120 million, equivalent to a whopping one third of one percent!
This is all shameful. For context, in 2008 NIH’s budget was $29.2 billion. Considering the state of the budget it seems unconscionable for the House to agree to any increase over $30.7 billion. In truth, it is perfectly reasonable to reduce NIH’S budget back to its 2008 number.
Too bad our present Congress, both Democratic and Republican, isn’t reasonable.
The Republican-controlled House has proposed a budget for National Institutes of Health (NIH) that is one billion more than last year’s budget, an increase from $30.7 to $31.7 billion.
What evil budget-cutters these Republicans are! Their mean-spirited budget increase has the nerve to reduce Obama’s budget request by about $120 million, equivalent to a whopping one third of one percent!
This is all shameful. For context, in 2008 NIH’s budget was $29.2 billion. Considering the state of the budget it seems unconscionable for the House to agree to any increase over $30.7 billion. In truth, it is perfectly reasonable to reduce NIH’S budget back to its 2008 number.
Too bad our present Congress, both Democratic and Republican, isn’t reasonable.
Rather than follow through on $200 billion of cuts proposed by GAO, the Senate cuts GAO
Don’t you dare tell us to cut spending! Rather than follow through on $200 billion of cuts of “wasteful, duplicative, and fraudulent spending” proposed by General Accountability Office (GAO), the Senate, controlled by the Democrats, has proposed slashing GAO’s budget instead.
Don’t you dare tell us to cut spending! Rather than follow through on $200 billion of cuts of “wasteful, duplicative, and fraudulent spending” proposed by General Accountability Office (GAO), the Senate, controlled by the Democrats, has proposed slashing GAO’s budget instead.
NASA proposes major reconstruction of its launch facility at the Kennedy Space Center
NASA proposes major reconstruction of its launch facility at the Kennedy Space Center.
They say this modernization is intended to make Kennedy more competitive in the modern commercial space market, which I am sure is true. Another way to look at it, however, is that Kennedy is getting favored treatment by the government, receiving a huge subsidy from NASA that the other private spaceports in New Mexico and elsewhere were not even allowed to compete for.
NASA proposes major reconstruction of its launch facility at the Kennedy Space Center.
They say this modernization is intended to make Kennedy more competitive in the modern commercial space market, which I am sure is true. Another way to look at it, however, is that Kennedy is getting favored treatment by the government, receiving a huge subsidy from NASA that the other private spaceports in New Mexico and elsewhere were not even allowed to compete for.
No House Democrat will sponsor Obama’s job bill, preventing it from being introduced
Boy, does this tell us how politically weak Obama has become: No House Democrat will sponsor Obama’s job bill, preventing it from being introduced for consideration.
Correction: it turns out that a Democrat did finally introduce Obama’s jobs bill to the House, though it took until September 22, three weeks after the President’s speech first demanding that Congress “pass this bill immediately.”
Boy, does this tell us how politically weak Obama has become: No House Democrat will sponsor Obama’s job bill, preventing it from being introduced for consideration.
Correction: it turns out that a Democrat did finally introduce Obama’s jobs bill to the House, though it took until September 22, three weeks after the President’s speech first demanding that Congress “pass this bill immediately.”
Senate agrees to short term budget deal
The Senate has agreed to short term budget deal to fund the government through the end of the week.
Based on the above story, as well as this one, I am honestly not sure what these idiots have agreed to, or whether this Senate deal will pass the House as well. It does appear, however, that they are proposing spending more money that they don’t have.
The Senate has agreed to short term budget deal to fund the government through the end of the week.
Based on the above story, as well as this one, I am honestly not sure what these idiots have agreed to, or whether this Senate deal will pass the House as well. It does appear, however, that they are proposing spending more money that they don’t have.
Senate rejects House funding bill; shutdown looms
Senate rejects House funding bill; shutdown looms.
While we chatter about superficial election debates and a falling satellite, the federal budget continues to crash and burn. What I find disturbing about the events in the Senate is this quote:
Democrats in the Senate, who are in the majority, oppose Republican efforts to roll back “green” energy programs to pay for aid for victims of Hurricane Irene and other disasters. They say disaster aid, usually a bipartisan issue, should not require cuts elsewhere — especially to programs creating green jobs — as the GOP majority in the House now demands. [emphasis mine]
So how do the Democrats expect to pay for this disaster aid? Will the money grow on trees?
Senate rejects House funding bill; shutdown looms.
While we chatter about superficial election debates and a falling satellite, the federal budget continues to crash and burn. What I find disturbing about the events in the Senate is this quote:
Democrats in the Senate, who are in the majority, oppose Republican efforts to roll back “green” energy programs to pay for aid for victims of Hurricane Irene and other disasters. They say disaster aid, usually a bipartisan issue, should not require cuts elsewhere — especially to programs creating green jobs — as the GOP majority in the House now demands. [emphasis mine]
So how do the Democrats expect to pay for this disaster aid? Will the money grow on trees?
House unexpectedly defeats spending bill
The House unexpectedly defeated a spending bill today.
The bill would have funded the government at an annual rate of $1.043 trillion, in line with a bipartisan agreement reached in August. Many conservatives want to stick with the lower figure of $1.019 trillion that the House approved in April. The measure failed by a vote of 195 to 230, with 48 of the chamber’s most conservative Republicans joining Democrats in opposition. The vote demonstrated the continued reluctance of Tea Party conservatives to compromise on spending issues, even as the public grows weary of repeated confrontation on Capitol Hill. [emphasis mine]
I have highlighted the last line of the quote above to illustrate an example of Reuters inserting its own political agenda into a story, based not on facts but on fantasy and leftwing wishful thinking. Not only is there no indication that the public is “weary of repeated confrontation,” polls and recent special elections suggest that the public is instead quite weary of politicians unwilling to cut the federal budget. It is for this reason these conservative Republicans feel so emboldened. They know the political winds are at their backs.
The House unexpectedly defeated a spending bill today.
The bill would have funded the government at an annual rate of $1.043 trillion, in line with a bipartisan agreement reached in August. Many conservatives want to stick with the lower figure of $1.019 trillion that the House approved in April. The measure failed by a vote of 195 to 230, with 48 of the chamber’s most conservative Republicans joining Democrats in opposition. The vote demonstrated the continued reluctance of Tea Party conservatives to compromise on spending issues, even as the public grows weary of repeated confrontation on Capitol Hill. [emphasis mine]
I have highlighted the last line of the quote above to illustrate an example of Reuters inserting its own political agenda into a story, based not on facts but on fantasy and leftwing wishful thinking. Not only is there no indication that the public is “weary of repeated confrontation,” polls and recent special elections suggest that the public is instead quite weary of politicians unwilling to cut the federal budget. It is for this reason these conservative Republicans feel so emboldened. They know the political winds are at their backs.
Air Force official suggests they would be willing to sacrifice the X-37 in budget negotiations
An Air Force official suggested this week they would be willing to sacrifice the X-37 in budget negotiations.
An Air Force official suggested this week they would be willing to sacrifice the X-37 in budget negotiations.
Senate panel trims NIH budget
Now for some good reporting: A Senate committee today approved an NIH budget that trimmed the health agency’s budget by $190 million.
This report actually gives us an accurate description of the proposed budget, which offers a 2012 budget of $30.5 billion compared to the $30.7 that NIH got in 2011. For further context, note that the 2012 budget is still more than the agency got in 2009 ($30.2 billion), and more than a billion above what it got in 2008 ($29.2 billion). Anyone who cries poverty at this budget cut immediately discredits themselves.
Now for some good reporting: A Senate committee today approved an NIH budget that trimmed the health agency’s budget by $190 million.
This report actually gives us an accurate description of the proposed budget, which offers a 2012 budget of $30.5 billion compared to the $30.7 that NIH got in 2011. For further context, note that the 2012 budget is still more than the agency got in 2009 ($30.2 billion), and more than a billion above what it got in 2008 ($29.2 billion). Anyone who cries poverty at this budget cut immediately discredits themselves.
Europe’s first Mars lander mission threatened by budget woes
Europe’s first Mars lander appears threatened by budget woes in both Europe and the United States.
Europe’s first Mars lander appears threatened by budget woes in both Europe and the United States.
Senate appropriations committee has capped Webb Telescope budget
The Senate appropriations this week recommended capping the budget for the James Webb Space Telescope at $8 billion, less than the $8.7 billion that NASA now thinks is required to finish the telescope.
The committee also recommended a budget of $17.9 billion for NASA, about $1 billion less than the House recommendation and about a half billion less than NASA’s 2011 budget. If the Senate numbers are adopted, it would bring NASA’s budget back to the budget it received in 2008.
The Senate appropriations this week recommended capping the budget for the James Webb Space Telescope at $8 billion, less than the $8.7 billion that NASA now thinks is required to finish the telescope.
The committee also recommended a budget of $17.9 billion for NASA, about $1 billion less than the House recommendation and about a half billion less than NASA’s 2011 budget. If the Senate numbers are adopted, it would bring NASA’s budget back to the budget it received in 2008.
White House Emails Reveal Major Obamacare Accounting Fraud
Repeal it: White House emails have revealed an effort by the Obama administration in 2009 to coverup the accounting failures of the CLASS program within Obamacare.
Emails show that the first warning about CLASS came in May 2009, from Richard Foster, head of long range economic forecasts for Medicare. “At first glance this proposal doesn’t look workable,” Foster wrote in an email to other HHS officials, some of whom were working with Congress to get CLASS into the health care law. Foster said a rough outline of the program would have to enroll more than 230 million people — more than the U.S. workforce — to be financially feasible. But work on CLASS continued, bolstered by a report for AARP that laid out scenarios for implementing the plan. The AARP study also raised financial concerns, although the seniors’ lobby supports CLASS.
In July, Foster tried again. After reviewing the latest information from Kennedy’s office, he wrote HHS officials: “Thirty-six years of (professional) experience lead me to believe that this program would collapse in short order and require significant federal subsidies to continue.” Too late. The Obama administration had decided to support CLASS. Documents and emails indicate that Foster was edged out of deliberations. [emphasis mine]
Repeal it: White House emails have revealed an effort by the Obama administration in 2009 to coverup the accounting failures of the CLASS program within Obamacare.
Emails show that the first warning about CLASS came in May 2009, from Richard Foster, head of long range economic forecasts for Medicare. “At first glance this proposal doesn’t look workable,” Foster wrote in an email to other HHS officials, some of whom were working with Congress to get CLASS into the health care law. Foster said a rough outline of the program would have to enroll more than 230 million people — more than the U.S. workforce — to be financially feasible. But work on CLASS continued, bolstered by a report for AARP that laid out scenarios for implementing the plan. The AARP study also raised financial concerns, although the seniors’ lobby supports CLASS.
In July, Foster tried again. After reviewing the latest information from Kennedy’s office, he wrote HHS officials: “Thirty-six years of (professional) experience lead me to believe that this program would collapse in short order and require significant federal subsidies to continue.” Too late. The Obama administration had decided to support CLASS. Documents and emails indicate that Foster was edged out of deliberations. [emphasis mine]
Largest dam removal in U.S. history begins in Washington
The largest dam removal in U.S. history has begun in Washington.
The article is remarkably vague about how this source of electrical power will be replaced.
The largest dam removal in U.S. history has begun in Washington.
The article is remarkably vague about how this source of electrical power will be replaced.
Obama to propose $1.5 trillion in new taxes
Obama to propose $1.5 trillion in new taxes today.
A quick look at this proposal tells me that most of it is made of gimmicks and smoke and mirrors. The cuts are elusive, while the tax increases are real. More important, none of it actually appears to cut spending at all, merely reducing the rate that spending increases over the next decade.
Sadly, I don’t expect anything much better from the present Republican leadership.
Obama to propose $1.5 trillion in new taxes today.
A quick look at this proposal tells me that most of it is made of gimmicks and smoke and mirrors. The cuts are elusive, while the tax increases are real. More important, none of it actually appears to cut spending at all, merely reducing the rate that spending increases over the next decade.
Sadly, I don’t expect anything much better from the present Republican leadership.