Tag: deficit

Going Broke: Treasury Down to $58.6B in Cash, $130.5B Borrowing Authority

10:41 pm

The reckoning is about to arrive: The federal treasury is down to $58.6 billion in cash with only $130.5 billion in borrowing authority.

Meanwhile former Democratic operative George Stephanopoulos reports that a tentative deal between the parties in Congress will finalize the cuts from last year’s budget at $33 billion.

As I said, the reckoning is about to arrive.

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The incremental approach is working

11:19 am

He has a point: Fred Barnes argues that the Republican incremental approach to cutting the budget makes sense politically. Key quote:

The end zone is far away, however, and impatience won’t get Republicans there. Impatience is not a strategy. It may lead to a government shutdown with unknown results. To enact the sweeping cuts they desire, Republicans must hold the House and capture the Senate and White House in the 2012 election. Then they’ll control Washington. Now they don’t.

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Hoyer Calls $100 Billion in Cuts to $3.7 Trillion Budget ‘A Meat-Axe Approach’

7:28 pm

My idiotic congressman: Steny Hoyer (D-Maryland) today called the $100 billion in cuts to the $3.7 trillion federal budget “A meat-axe approach.”

Way to go, Steny! Show us all how you can’t add or subtract. Somehow, to your childish brain, cutting less than three percent of a budget that was doubled (increased by 100 percent) in the years you and your party were in charge in Congress is “reckless.”

What a fool.

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Lockheed Martin unveils Orion spacecraft and test center

10:42 am

The program-formerly-called-Constellation moves forward: Lockheed Martin yesterday unveiled the Orion spacecraft and the test center to be used to prepare it for space.

Though this press announcement was actually intended to encourage Congress to continue funding, it also illustrated how this portion at least of Constellation had made significant progress before it was undercut by both Obama and Congress.

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The Wisconsin Assembly’s Bold Leap

3:39 pm

The Wisconsin assembly’s bold leap. Key quote:

It was these freshman legislators who stood on the assembly floor following Knilans’ speech that day, while their orange-T-shirt-clad Democratic colleagues shouted “SHAME! SHAME! SHAME!” in their faces. They could feel the ambient rumble of the thousands of pro-union protesters that stood mere feet outside the assembly chamber. Newly elected representative Michelle Litjens had earlier been the target of a threat from a Democratic assemblyman, who pointed at her and said, “You’re f***ing dead.”

Knilans himself felt the intimidation. In his capitol office one day, he heard a group outside his door say, “We know where you live.” Picketers showed up at his house. He said he didn’t personally feel threatened, but he was anxious about the safety of his wife and two small children at home. One day, his five-year-old son asked him, “Do they hate you, Dad?”

Yet they stood together, endured the insults, and passed the bill on to Walker, who signed it the next day.

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