Tag Archives: budget deficit

GOP Tax Law Projected To Raise Deficit By $1.9 Trillion

The Associated Press reports: The GOP’s signature tax law is projected to increase the national debt by $1.9 trillion between 2018 and 2028, according to a new report by the Congressional Budget Office. According to the report, the tax law would cost the government $2.3 trillion in revenues, but economic growth would offset that figure by about $461 billion. The ...

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House GOP To Seek Balanced Budget Amendment

The Hill reports: House Republicans will push for a balanced budget amendment after they return from recess. The report follows the passage of the $1.3 trillion omnibus package to fund the government through September. That bill was ripped by conservatives in the House and Senate, and President Trump vowed to never approve a similar bill again. Calls for a balanced-budget ...

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Trump Unveils Budget With Trillion Dollar Deficit

The Associated Press reports: President Donald Trump unveiled a $4.4 trillion budget for next year that heralds an era of $1 trillion-plus federal deficits and — unlike the plan he released last year — never comes close to promising a balanced ledger even after 10 years. The growing deficits reflect, in great part, the impact of last year’s tax overhaul, ...

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Chaffetz: The GOP Spending Bill Show Republicans Have Lost All Credibility On Debts And Deficits [VIDEO]

“Republicans have lost every single bit of credibility on the idea that they care at all about debts and deficits. They can talk all they want, but when they had the chance to do it, they caved and they spent so much money it’s stunning.” – Former GOP House rep turned Fox bloviator Jason Chaffetz, ranting this morning on Fox ...

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House Approves Spending Bill

CNN reports: Congress narrowly averted a government shutdown that was slated to take effect at midnight. The House approved a $1.1 trillion spending bill that keeps the government open through September. The Senate agreed to a two-day extension of current funding levels to give itself time to approve the House bill. After a tumultuous day, the House passed the spending ...

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Senate Passes Fiscal Cliff Compromise

While the rest of us celebrated the New Year, the Senate passed a “compromise” fiscal cliff bill at about 2AM this morning.  Eight Senators voted against the bill and three did not vote. The Senate approved a bipartisan agreement early Tuesday morning to let income taxes rise sharply for the first time in two decades, fulfilling President Obama’s promise to ...

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Dollars & G-Strings

Congress is once again considering doing away with the dollar bill, an issue that comes up and is promptly shot down every few years.  Yesterday the New York Daily News went directly to the people for their opinion. The proposal won a hearty endorsement Friday night from workers who handle bills as part of their daily grind. At Sapphire New ...

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Krugman: Paul Ryan Is A Con Man

“The fact is that Ryan is and always was a fraud. His plan never added up; it was never, contrary to what people who should know better asserted, ‘scored’ by the CBO. What he actually offered was a plan to hurt the poor and reward the rich, actually increasing the deficit along the way, plus magic asterisks that supposedly reduced ...

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Obama Shrank The Deficit

From the Maddow Blog: When the president’s critics spin this, they’ll say, “The deficit was over $1 trillion again,” and that will be accurate. What the criticism fails to note, however, is that (a) the deficit is now much smaller than it was when Obama took office; (b) this is the smallest deficit we’ve seen in four years; (c) this ...

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Only Romney Has Fiscal Discipline

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Caption This

(Tipped by JMG reader David)

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Another Chart For The GOP To Ignore

Source.

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New Attack Ad From The RNC

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1-2-3 GOP

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Millionaires Group: Raise Our Taxes

The above message is from a group calling themselves Patriotic Millionaires For Fiscal Strength. I’m not seeing any immediately familiar names on the list of co-signers, maybe you do?

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Budget Deficits For Dummies

This is a clear explanation, actually.

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MSNBC’s Dan Ratigan Rants On Political Corruption & The Debt Crisis

Yeah, I’d say this can be filed under “epic.”

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Teabaggers Cheer S&P Downgrade

“Objectivizing”?

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The Tea Party Downgrade

Voiceover by DC Douglas.

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Dow Jones Nosedives

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