Tag Archives: deficit

Paul Krugman: Obama Should Solve The Budget Deficit By Making A $1 Trillion Coin

Paul Krugman: Obama Should Solve The Budget Deficit By Making A $1 Trillion Coin

Why reduce spending when you can just print more money? First of all, we have the weird and destructive institution of the debt ceiling; this lets Congress approve tax and spending bills that imply a large budget deficit — tax and spending bills the president is legally required to implement — and then lets Congress

Obama: "We Don't Have A Spending Problem"

According to an interview between the Wall Street Journal’s Stephen Moore and Speaker of the House John Boehner, in behind the scenes negotiations President Obama insisted that “we don’t have a spending problem.” Which is an odd admission for a President who says that we need a “balanced approach” to deficit reduction in public. In

Americans May Be Getting An Idea For What Social Security Really Costs Them

“For the first time in two decades, we raised taxes on the wealthiest 2% of Americans in a bipartisan way, while preventing a middle-class tax hike that could have thrown our economy back into recession,” President Obama said in his weekly address yesterday. “Under this law, more than 98% of Americans and 97% of small

Grand Forks Herald Applies Double Standard To Republicans, Democrats

According to the Grand Forks Herald’s editorial today, recently-elected Representative Kevin Cramer needs to prove himself on the farm bill. “If a new Farm Bill passes out of the House Agriculture Committee in the next few months, Cramer should make it his mission to ensure that the bill reaches the House floor for a vote,”

Heidi Heitkamp Doesn't Want Bigger Deficits So She'll Vote To Raise The Debt Ceiling

I had to laugh when I heard this news report from Senator Heidi Heitkamp who says she’ll vote to raise the debt ceiling because if we don’t we might add to the deficit. Senator Heitkamp must have gone to the Kent Conrad school of decreasing the deficit by spending more. As for Heitkamp’s comments about

Even After Tax Hikes, Obama Maintains "Rich Should Pay Their Fair Share"

If you thought, now that President Obama and his liberal friends got their tax hikes on the rich, we could start talking about meaningful spending cuts you can forget it. “Obviously, there is still more to do when it comes to reducing our debt,” Obama said in a video released by his (seemingly never-ending) campaign.

"Deficit Hawk" Ends His Career Voting For Bigger Deficits

Two members of North Dakota’s congressional delegation ended their tenures in Washington DC this week. I wrote about Rep. Rick Berg earlier this week, who used his last vote to oppose the “fiscal cliff” deal. It’s interesting to contrast Berg’s last vote with Senator Kent Conrad’s last vote. The self-described “deficit hawk” gave his final

It's A Spending Problem

Courtesy of Yuval Levin at National Review, here’s another look at the “fiscal cliff” deal’s impact on the nation’s debt and deficit problem: And then there’s this comparison of spending and revenue, each as a percentage of GDP: Going back to 1973, we’ve never been able to hold federal revenues much above about 18% of

We've Taxed The Rich, Now What?

I won’t tell you that the fiscal cliff deal passed by Congress yesterday was a good thing. I think going over the cliff would have been better for the country. The spending cuts in the sequestration were more meaningful, and the tax hikes were more broad. I don’t think we’re going to see an appetite

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