Tag: Congress

A survey of 400 chief financial officers finds that nearly half plan to cut back on employment because of Obamacare.

11:00 pm

A survey of 400 chief financial officers finds that nearly half plan to cut back on employment because of Obamacare.

And there’s also this:

Besides altering the makeup of their workforces, companies said they also plan to change the health benefit packages offered to employees. “Two-thirds of companies will change health benefits in response to ACA,” reads the Fuqua/CFO Magazine report summary. Forty-four percent of CFOs said they are considering reducing health benefits for employees. Thirty-eight percent said that employees and retirees may be forced to contribute more to their health plans.

“The inadequacies of the ACA website have grabbed a lot of attention, even though many of those issues have been or can be fixed,” said John Graham, Duke Fuqua School of Business finance professor and director of the survey, in a press release. “Our survey points to a more detrimental and potentially long-lasting problem. An unintended consequence of the Affordable Care Act will be a reduction in full-time employment growth in the United States,” the study says. [emphasis mine]

So, tell me again why the Republicans in Congress should not challenge the Democrats over Obamacare?

10 comments

Yup, this sums it up nicely.

9:07 am

Yup, this sums it up nicely.

House Budget Committee chairman Paul Ryan has now accomplished the astonishing task of pushing House Republicans substantially to the left of the Senate GOP. His budget deal, announced Tuesday night, was achieved by shutting conservative Senate Republicans out of negotiations, by resorting to the old trick of spending now while claiming savings later, by ignoring a symbolically important budgetary red line, and by treating as Democratic “concessions” things to which even Democratic budgeteers already had agreed.

The chess equivalent of Ryan’s deal would be trading a castle for a mere pawn. No wonder conservatives are feeling rooked.

The absurdity of this deal is highlighted especially by the ongoing disaster of Obamacare. The Republicans have a very strong negotiating hand right now. They could have actually demanded a repeal of Obamacare in budget talks and thus pushed the Democrats into a corner for which there really is no escape. What would the Democrats do, shut the government down again so that more people could lose their health insurance?

Instead, Ryan behaved as if the Democrats have a Royal Flush and he only had a pair of twos. The stupid party strikes again!

3 comments

The Ryan budget deal includes a provision that limits the ability of the Senate minority to block tax increases.

10:49 pm

The stupid party: The Ryan budget deal includes a provision that limits the ability of the Senate minority to block tax increases.

The bill includes language from the Senate Democrats’ budget that voids senators’ ability to raise a budget “point of order” against replacing the sequester cuts with tax increases. The process is quite complicated, but in practice it grants Harry Reid the authority to send tax increases to the House with a bare majority, rather than the 60-vote threshold that would be required under a point of order.

In other words, another example of a Republican getting hosed in negotiations.

Though I have read several conservative reports about this deal that outline some of its positive benefits, on the whole it appears to be another defeat for the right.

4 comments

This detailed look at the budget deal suggests it isn’t as much of a surrender as first implied.

12:23 pm

This detailed look at the budget deal suggests it isn’t as much of a surrender as first implied.

I have to admit this analysis leaves me more hopeful, especially with this point:

That the Democrats would accept a deal like this is a pretty striking indication of how the Republican House has changed the conversation on the spending front since 2010. Think of it this way: In their first budget after re-taking the majority—the FY 2012 Ryan budget, passed in 2011—the House Republicans wanted discretionary spending to be $1.039 trillion in 2014 and $1.047 trillion in 2015. These budgets were of course described by the Democrats and the political press (but I repeat myself) as some reversion to humanity’s barbaric past. Yet this proposed deal with the Democrats would put discretionary spending at $1.012 trillion in 2014 and $1.014 trillion in 2015—in both cases below that first House Republican budget.

Check out the graph at the link. It does illustrate bluntly that the Republicans are beginning to force the budget curve downward, if slowly. It also suggests that should they win big majorities in both Houses of Congress next November they will be posed to finally push for some real reductions in the size of the federal government, as they will have the votes in Congress and will be doing it with the strong endorsement of the voters.

3 comments

The Republican leadership expresses contempt for any opposition to its budget deal that abandons the cuts imposed by sequestration

11:11 am

The Republican leadership expresses contempt for any opposition to its budget deal that abandons the cuts imposed by sequestration.

The Republican leadership are fools. If anything, this is the moment to push harder, to not only demand that the sequestration cuts stay in place, but to demand a repeal of Obamacare.

0 comments

Why Republicans should reject the surrender budget deal rumors say Paul Ryan is negotiating with Democrats.

9:54 am

Why Republicans should reject the surrender budget deal rumors say Paul Ryan is negotiating with Democrats.

Expect more articles like this. There are a lot of conservatives in the Republican House caucus who are no longer willing to lick the feet of Democrats, even if the Republican leadership is. And any deal that gives up sequestration is going to face their wrath.

Also, these kinds of articles serve to pressure Ryan so that he does not agree to a surrender.

5 comments

Another news report suggests that Republicans are preparing to surrender in budget talks.

10:02 am

Another news report suggests that Republicans are preparing to surrender in budget talks.

Senior aides familiar with the talks say the emerging agreement aims to partially repeal the sequester and raise agency spending to roughly $1.015 trillion in fiscal 2014 and 2015. That would bring agency budgets up to the target already in place for fiscal 2016. To cover the cost, Ryan and Murray are haggling over roughly $65 billion in alternative policies, including cuts to federal worker pensions and higher security fees for the nation’s airline passengers.

Republican leaders are also seeking additional savings to knock a small dent in deficits projected to exceed $6 trillion over the next decade. But the deal would do nothing to trim the debt, which is now larger, as a percentage of the economy, than at any point in U.S. history except during World War II. [emphasis mine]

To me, the biggest disappointment of this surrender is that Paul Ryan is negotiating it, proof that he too is no fiscal conservative and worse is far more stupid than I had thought.

1 comment

Rumors suggest that Republicans are moving to accept a budget deal that would end sequestration.

8:30 pm

The stupid party strikes again! Rumors suggest that Republicans are moving to accept a budget deal that would end sequestration.

At issue are efforts to craft a compromise that would ease across-the-board spending cuts due to take effect in January, known as the sequester, and replace them with a mix of increased fees and cuts in mandatory spending programs.

As de Rugy notes:

The sequester, no matter how imperfect a policy, is arguably the only victory for fiscal conservatives in a very long time. Their victory is also president Obama’s biggest defeat (outside of the self-inflicted disastrous Obamacare rollout). It is also another opportunity to remind the American people that the alarmist predictions that we were all subjected to about the devastating impact sequestration would have on our economy didn’t materialize.

She adds:

So let’s sum this up: a massive and unnecessary surrender on the sequester, some tax hikes, and more unemployment benefits. It seems to me that the Republicans are learning their moves from the French army.

Not only do most Democrats have to be replaced, so do a significant number of Republicans. Too many of these politicians have no interest in serving the citizenry being crushed by this out-of-control federal government. Instead they serve that government instead.

8 comments

The planetary science community is in an uproar over the Obama administration’s proposed restructuring and possible budget cuts to NASA’s planetary research program.

11:41 pm

The planetary science community is in an uproar over the Obama administration’s proposed restructuring and possible budget cuts to NASA’s planetary research program.

Though the Obama administration has been consistently hostile to the planetary program, attempting to cut it severely several years in a row, and though I generally have found these particular cuts to be short-sighted, in this case the article is not very clear about the cuts NASA is proposing. It appears they are going to eliminate for one year the general research fund. I suspect there is waste in this budget, but I also suspect that this is a meat cleaver approach that has not been thought out well, as suggested in the article.

One quote from the article reinforces the foolishness of these management decisions:

Next year, a high-level NASA review is likely to have to decide between shutting down either the Mars Curiosity rover or the Cassini mission to Saturn. Both are successful missions that cost around $60 million a year, a level that Green has said the division simply cannot afford for the long term.

Talk about penny wise, pound foolish. The cost to get these probes to their destination was in the billion dollar range, each. To shut them down when they are working and cost relatively so little now is beyond stupid.

As I have written repeatedly, we have a big federal deficit. We need to cut, and I think NASA’s budget can be cut. It just makes no sense to cut planetary research, when there are other portions of that budget that are accomplishing little and cost far more.

4 comments

The federal budget deficit for October was “only” $91 billion.

8:59 am

The day of reckoning looms: The federal budget deficit for October was “only” $91 billion.

The AP article makes a big deal about how much lower this deficit is compared to past Octobers, but at this level, we would still have an annual deficit over $1 trillion. Even it ends up as half that, the numbers are still terrible.

The budget deal that ended the government shutdown ends on January 15. Be prepared for another shutdown. I expect some Republicans are going to once again tie that shutdown to repealing Obamacare.

0 comments

Lockheed Martin announced today that it is closing down five facilities and laying off 4,000 employees.

6:03 pm

Lockheed Martin announced today that it is closing down five facilities and laying off 4,000 employees.

This is actually good news for the company (reflected in a rise in its stock price today) as well as the taxpayer. Faced with less easy money from the federal government, the company is trimming some of its waste and unneeded fat. I am confident these cuts will have zero impact on their ability to operate and compete. If anything, they will improve the company’s abilities.

The cuts are also a recognition that the federal cuts from sequestration are not going away, even though those cuts have resulted in literally no visible problems in any federal program. To me, this is another demonstration that there was (and continues to be) plenty of fat in the federal government that can be trimmed away, without serious harm to any federal program.

4 comments
1 … 52 53 54 55 56 … 105