Harry Reid says it would be “Foolish” for the Democrats to offer budget plan
The court jester speaks: Harry Reid said Thursday it would be “foolish” for the Democrats to offer their own budget plan.
Tag: budget
Dear Congress: Your credit application has been turned down
Dear Congress: Your credit application has been turned down.
You may also wish to contact a consumer credit counseling agency. The National Foundation for Credit Counseling can help you locate a reputable counseling agency in your area. You may also wish to visit the NFCC’s website for helpful tips on such subjects as
•drawing up a budget
•living within your means
•saving during tough economic times
•steps to take when your finances get out of control
Reid rejects Boehner proposal for $2 trillion in spending cuts
On Thursday Senator Harry Reid (D-Nevada) rejected House Speaker John Boehner’s call for “trillions” in spending cuts.
Once again, I must note that while we can be rightly skeptical of the Republicans expressed desire to cut the budget, we can have no doubt that the Democrats are against it entirely, and will resist spending cuts on all fronts.
“The mood was less than cordial.”
Boehner meets with tea party activists from his district. “The mood was less than cordial.”
Surely, there are Tea Party activists with unreasonable expectations of what Republicans can accomplish with control of the House. However, the major beef Tea Partiers have with Republicans is not their lack of accomplishment. It’s their unwillingness to stand and fight, their apparent lack of principle, and the resulting impotence toward shifting the narrative in Washington.
Social Security deficits now “permanent”
More thrilling budgetary news: The Social Security deficit is now “permanent.”
Medicare’s hospital insurance trust fund is now slated to run out of money in 2024, or five years earlier than last year’s projection, while Social Security’s trust fund will be exhausted by 2036, a year earlier than the prior projection.
Private citizen commits $25 million for Giant Magellan Telescope
Private citizen has just donated $25 million for the construction of the Giant Magellan Telescope.
This is how it used to be done all the time: All the early giant telescopes built in the United States before World War II were financed by individuals or private foundations, with no or little government investment.
Government reaches debt limit, borrows against federal pension funds
Time is running out: Government reaches debt limit, borrows against federal pension funds to pay obligations.
Senate Democrats: Where is your budget?
Senate Democrats: Where is your budget?
With the statutory committee deadline having been missed by six weeks, and with 744 days gone by since the Democrat-led Senate passed a budget, it was reported that this week Senate Democrats would finally produce a budget and hold a markup. But no budget was produced and the markup was delayed yet again.
The Republicans might not be very serious about spending cuts, but the Democrats are a downright joke. At least the Republicans have made some effort to deal with the problem, tepid as that effort is. The Democrats not only oppose any suggestion, they can’t even do their job.
Social Security and Medicare running out of funds sooner than expected
Surprise surprise! Social Security and Medicare are running out of funds sooner than expected.
Another sign of tight NASA budgets ahead
From Jeff Foust: Another sign of tight budgets ahead.
The possibility that NASA’s budget might cut by several billion doesn’t bother me a bit. Unlike it seems everyone else, I ain’t gonna be one of those who says “We need to cut the federal budget, but just don’t cut MY favorite program.” NASA shouldn’t be immune to cuts. In fact, NASA could easily lose the several billion dollars per year that’s going to be wasted on the program-formerly-called-Constellation.
And if Congress decided to cut the subsidies to the new commercial space companies as well, I probably wouldn’t cry that much over that either. I think these companies can make it on their own. I think there is a market for their product. By taking NASA’s money up front, they are then forced to take NASA supervision, something I think will be very damaging in the long run.
GOP denies TSA money to buy more body scanners
The House budget for the TSA has deleted funding for more body scanners.
Though I think denying the TSA this money is a good thing, this paragraph from the article stood out to me:
The measure includes $7.8 billion for the TSA, which Republicans said was a $125 million increase from current levels but $293 million less than the administration’s budget request.
In 2008 the TSA’s budget was approximately $6.99 billion. Considering how the Republicans wanted to bring spending back to 2008 levels, how can we take them seriously about getting control of the deficit if they agree to an overall budget increase for the TSA?
GOP senators focus on entitlement cuts
More debt ceiling negotiations: GOP senators focused on entitlement cuts in a meeting with Obama on Thursday. I found this quote quite intriguing and a refreshing change from previous such meetings:
Obama was careful not to dominate the meeting, according to Republican senators who attended. The president opened the session with brief remarks and spent most of the session listening to lawmakers’ concerns and responding to their arguments.