Obama Wants Up or Down Vote On “Basic Plan” By Fiscal Cliff Deadline

By: Saturday December 29, 2012 4:27 am

In a late press conference after his 3pm meeting with congressional leaders, President Obama offered an ultimatum to Republicans – pass a bipartisan compromise bill or he will instruct Senate Majority Leader Reid to put a bill on the Senate floor that will make anyone voting against it look responsible for the horrors of the [...]

“Fiscal Cliff” Deal Seems Increasingly Less Likely

By: Friday December 28, 2012 7:01 am

Barring some last minute deal it seems America is going over the “fiscal cliff.” Which given the perverted incentives of Washington may be just what some people are longing for: For many Republicans, a cliff dive means blaming President Barack Obama for a big tax hike in the short term and then voting to cut [...]

Treasury: U.S. Will Hit Debt Ceiling Monday

By: Thursday December 27, 2012 5:16 am

It’s that time again. Time for our friends in Congress to champion fiscal responsibility – by threatening not to pay the bill for money already spent. But this time we are in the middle of the fiscal cliff drama which could exacerbate any chance of a deal presently and certainly not by Monday. From CNN: [...]

Banks Siphon Bernanke’s Stimulus While Tightening Credit On Middle Class

By: Monday December 24, 2012 9:42 am

While many former homeowners will be spending the holidays in the streets, it is good to know the bailed out banks are making some nice profits… off the American taxpayer. Fed Chairman Bernanke’s continual leveraging of the national credit card via buying mortgage-backed securities to stimulate the mortgage market has done little for the mortgage market and a lot for Wall Street’s bottom line.

Today on the Fiscal Slopes

By: Thursday December 6, 2012 7:13 am

Here’s that discharge petition that Tim Walz put together in an attempt to bring the Senate-passed tax bill to the House floor, the one that extends Bush-era tax rates on the first $250,000 of income. Right now it has the support of 178 Democrats and no Republicans. It’s a chore figuring out which 13 Democrats [...]

Poll: Public Will Blame Republicans If Country Starts Down the Fiscal Slope

By: Tuesday December 4, 2012 10:00 am

Republicans have enough problems dealing with their own internal insurgencies, but it should be explained that their biggest problem in the fiscal slope negotiations is that the public is poised to blame them if things go awry. Four-in-ten (40%) expect that the president and congressional Republicans will reach a deal by Jan. 1 to prevent [...]

Reminder: Executive Branch Can Delay Impact of Most Fiscal Slope Items

By: Wednesday November 14, 2012 7:45 am

I just want to add on to what Dean Baker says here. It’s not just that the people trying to hype the fiscal cliffas a scary, terrifying prospect shouldn’t be trusted given their track record. It’s that the short-term impact, say one month, of expiring measures really does approach zero. Here’s Dean’s base case as [...]

Obama’s Opening Bid: His FY2013 Budget Request

By: Wednesday November 14, 2012 6:21 am

The White House released to the Washington Postwhat amounts to an opening bid for fiscal slope/grand bargain talks. It turns out that this is actually just what was in the President’s proposed 2013 budget. But since it does add up to $4 trillion over 10 years, and since everyone’s getting serious about negotiations, we can [...]

For the Long-Term Unemployed, It Is A Fiscal Cliff

By: Tuesday November 13, 2012 6:19 am

Liberals are working hard to more accurately name the fiscal cliff. They want to remove the sense of immediacy, the idea that the world would end on January 1 if Congress takes no action on expiring tax and spending policies. Democrats would benefit from a strategic standpoint from “going over the cliff” in many cases, [...]

The Grand Confusion: The “Fiscal Cliff” Is an Austerity Program

By: Monday November 12, 2012 7:05 am

Paul Krugman explains the problem for all of the deficit scolds trying to use the fiscal it’s-not-a-cliff cliff as a forcing mechanism to cut the social safety net. The fiscal cliff poses an interesting problem for self-styled deficit hawks. They’ve been going on and on about how the deficit is a terrible thing; now they’re [...]

Obama Calls for Freeze on Tax Rates Under $250,000

By: Friday November 9, 2012 10:54 am

Previous Presidents re-elected to a second term took questions from the press shortly thereafter. President Obama made a statement in the East Room that looked more like a rally than a press conference, taking no questions thereafter. The statement itself was somewhat vague. The President plans to invite leaders of both parties to the White [...]

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