by Jane Richey | Dec 4, 2012 | Fiscal Responsibility, Politics
Sen. Jim DeMint (R-S.C.) says Boehner’s offer to raise $800 billion in taxes on the wealthy (partly by closing loopholes and limiting deductions) “will destroy American jobs and allow politicians in Washington to spend even more, while not reducing our $16...
by Jane Richey | Dec 4, 2012 | Fiscal Responsibility, Politics
The White House stressed that the offer made to congressional Republicans last week is similar to the proposals that President Barack Obama made in his fiscal year 2013 plan – a proposal that was defeated unanimously in the Democratic-controlled Senate and the...
by Jane Richey | Dec 4, 2012 | Fiscal Responsibility, Politics
Here are two things to keep in mind with regards to Boehner’s budget offer. First, when you begin negotiations agreeing to 60% of the demands of the other side and fail to offer a bold contrast on the other 40%, you are headed for an outcome that is 80-90% favorable...
by Jane Richey | Dec 4, 2012 | Fiscal Responsibility, Politics
From the Heritage Foundation: When President Obama put forth his first offer on the fiscal cliff, House Speaker John Boehner (R-OH) said, “You can’t be serious.” We could say the same thing to the Speaker after his counteroffer yesterday. In a letter signed by House...
by Jane Richey | Dec 1, 2012 | Fiscal Responsibility, Politics
The real problem is that the “government spending” component of the GDP exceeds government revenues by about a trillion dollars. That’s every year. This means that our GDP is artificially inflated by about one trillion dollars. Make any cuts, which we need to do,...
by Jane Richey | Dec 1, 2012 | Fiscal Responsibility, Politics
WASHINGTON (AP) — Figures on government spending and debt (rounded). The government’s fiscal year runs Oct. 1 through Sept. 30. Total public debt subject to limit Nov. 29– 16,283,989, 000,000 Statutory debt limit 16,394,000, 000,000 Total public debt...
