Back in 2008, the CEO of Shell Oil, John Hofmeister, testified in Congressional hearings that when oil and gasoline prices are high that big oil companies do not need the subsidies they get from the government. He also noted that executives of major oil companies agree. These federal subsidies were originally designed to encourage exploration […]
Paul Ryan (R-WI), the head budget writer for the Republicans in the House, has repeatedly attacked Obama for ignoring the recommendations of the bipartisan deficit commission (Ryan was one of the people whom Obama appointed to that commission). Here’s part of a recent interview: Ryan: President Obama, through an executive order, created his own commission […]
The incoming Republican majority in the House of Representatives has a new rule. They must offset the cost of any legislation that would increase federal spending. Sounds good, yes? And yet, they are attempting to repeal Obama’s health care reform bill, a bill that the Congressional Budget Office says will reduce the federal deficit by […]
According to a new poll, 61% of Americans say that the first step toward balancing the budget should be raising taxes on the richest Americans. Only 20% thought that the first step should be to cut defense spending, while 4% wanted to start by cutting Medicare, and 3% wanted to cut Social Security (the third […]
© Clay Bennett Unfortunately, the same thing applies to Medicare and the defense budget.
A new Wall Street Journal/NBC News poll provides an interesting view into the minds of Americans. Several polls in the past have shown that a majority of Americans want to cut the deficit, even during hard economic times. However, when asked how they would cut the deficit, 70% were against making any cuts to programs […]
Esquire Magazine put together a commission to balance the budget. You may not agree with all their decisions, but at least they did it. If you want to skip to the detailed results, they are here. They did it with a combination of sensible spending cuts with a small amount of tax increases.
Republicans continue to claim that they will reduce government spending. For example, when asked how they will pay for extending the Bush tax cuts, they claim they will do it by cutting government spending. There’s one big problem with this. In order to cut government spending, you are going to have to cut at least […]
© Mike Keefe Back when Republicans had control of the presidency, both houses of Congress, and the Supreme Court, they ran up record deficits. They lied us into unnecessary wars, they rammed unfunded Medicare Part D through Congress, they passed out tax breaks to rich people. Why why why would anyone believe that they are […]
© Lee Judge Republicans are using the deficit to attack Obama and the Democrats, but they don’t actually care about the deficit. When asked how they would cut the deficit, their only ideas are to go back to the economic policies of the Bush administration. In fact, every Republican voted against Obama’s balanced budget law. […]
© Ben Sargent When asked repeatedly about specific things the Republicans will do to cut the deficit, Congressman Pete Sessions (R-TX) and Senator John Cornyn (R-TX) draw a blank. Finally, in desperation, Sessions says he wants to go back to the economic policies of the Bush Administration. Seriously. And Cornyn says he is waiting for […]
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