The Not-Fated Economic Recovery

By: Tuesday January 17, 2012 8:55 am

I’ve seen a spate of stories recently suggesting that a economic recovery is fated to happen by 2013, and whoever wins the Presidential election will be able to claim the mantle of the “recovery President.” This is far too deterministic a take for me. There is such a thing as a business cycle, but to [...]

Merkel, Sarkozy Agree on Fiscal Consolidation for Europe

By: Monday December 5, 2011 8:55 am

France and Germany have reached agreement on a fiscal plan for Europe that has everything to do with veto power for the European Commission over sovereign budgets and very little to do with the long-term problem of smoothing growth over 17 different countries operating under one monetary union. The leaders of France and Germany agreed [...]

Ryan Avoids Contradiction By Voting Against Balanced Budget Amendment

By: Friday November 18, 2011 11:42 am

The House of Representatives failed to pass a balanced budget amendment to the Constitution today. The final vote was 261-165, 29 short of the 2/3 required for passage of a Constitutional amendment. The debt limit deal included a provision that mandated a vote in each chamber of Congress by the end of the year on [...]

Perry Scraps Tax Code By Keeping Around the Tax Code

By: Tuesday October 25, 2011 7:32 am

The tax code is riddled with loopholes, all of which we’re going to keep, in case people opt for the old system. It’s unsustainable, and here to stay. It’s too long, so we’re going to add pages to it with this flat tax option.

St. McCain Spearheads “Real American Jobs Act”

By: Thursday October 13, 2011 10:18 am

From the wreckage of the jobs crisis, along comes one man willing to set things right. A war hero, to be precise, a man who spent years in a POW camp, in case you didn’t know. John McCain will make it all better with his “Real American Jobs Act,” tailored perfectly to real Americans. They’re [...]

Proof That Balanced Budget Amendments Don’t Work: Look at State and Local Government Stats

By: Friday August 5, 2011 11:32 am

Republicans are barnstorming across the country in support of a balanced budget amendment. This, they say, will force government to “live within its means” and lead to surging economic growth, though I’m not really sure how they get from A to B. But we don’t really have to guess about the impact of a balanced [...]

The Never-Ending Pivot Is a 360 Back to the Deficit

By: Wednesday August 3, 2011 8:50 am

The President has just the thing to focus the federal government’s attention on the jobs crisis: a bus tour of the Midwest. And his Treasury Secretary kicked off the campaign (shall we call it The Next Recovery Summer?) in the Washington Post. How does that go? Well, he spends 14 paragraphs defending the debt limit [...]

Boehner Bill Will Get One Minute of Debate Before Passage

By: Friday July 29, 2011 10:50 am

The amendment for the Boehner bill, which yokes a Balanced Budget Amendment to the Constitution to the passage of a second round of debt limit increase, is available here. It’s just a page long – the BBA is the only change. The Pell grant stuff was just grumbling. This is the same version of the [...]

Republicans Turn Debt Limit Bill Back Into Cut, Cap and Balance Act

By: Friday July 29, 2011 8:50 am

This is pretty incredible. After calling his debt limit plan the result of a bipartisan compromise, House Speaker John Boehner plans to alter the bill by turning it back into the Cut, Cap and Balance Act. Boehner could not secure the votes for passage on his plan last night. There was talk that the Pell [...]

Update on the Debt Limit: McConnell-Reid to Be Unveiled Later This Week

By: Sunday July 17, 2011 10:41 am

There have been no formal talks between the President and Congressional leaders for the last three days about raising the nation’s debt limit (though there has been “activity and progress” according to OMB Director Jack Lew), but the endgame is nonetheless coming into focus. The House, which did not submit to the President a plan [...]

Boehner Thinks It’s a Good Time for Symbolic Balanced Budget Amendment Votes

By: Friday July 15, 2011 10:30 am

Putting aside Barack Obama for a second, where are the Republicans on the debt limit talks right now? We know Mitch McConnell’s position, essentially a surrender. But with the spending cuts and commission processes tacked onto it, it starts to look like a surrender in the other direction. No matter, though: Jim DeMint will work [...]

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