Tackling the Deficit-Fix-It Week

Health-Law Repeal Would Deepen Deficit, CBO Estimates January 06, 2011, 10:33 AM EST By Anna Edney Jan. 6 (Bloomberg) -- Repealing the health-care overhaul law would deepen federal budget deficit by $145 billion from 2012 to 2019, the Congressional Budget Office estimates. Individual insurance premiums would be “somewhat lower” than under current law, while coverage obtained through large employers would be “slightly” higher under an overhaul repeal, the CBO, the ...

Last month, a bipartisan commission went down in flames in the Senate after 7 republicans who sponsored the bill voted against it. Now, Obama is putting together a bipartisan commission and the republicans are still complaining it's not good enough. Obama is telling them to come to the table and present their ideas. They are saying no. And then accusing him of not listening. The problem seems to be that the republicans expect Obama to follow their platform (tax breaks for big busines ...

From Robert Reich-Christian Science Monitor The economics are clear: First, the top 1 percent spends a much smaller proportion of their income than everyone else, so there’s very little economic stimulus at these lofty heights. On the other hand, giving the top 1 percent a two-year extension would cost the Treasury $130 billion over two years, thereby blowing a giant hole in efforts to get the deficit under control. Alternatively, $130 billion would be enough to rehire every teach ...

(The true suggestions will be coming out on Dec. 1.) U.S. Deficit Commission Recommends Changes to Social Security A draft proposal by the deficit commission suggests curbing Social Security benefits and raising the retirement ageto 68. It is currently 67 years for retirees to receive full benefits. The panel leaders also propose reducing the annual cost-of-living increases in Social Security. The increase to age 68 would be implemented by 2050 and then would increase again to 69 by 2075.&n ...

Here is a graph depicting baseline deficit as affected by the economic downturn with comparisons made between the percentages of projected impacts (2009 to 2019) of the wars in Iraq and Afghanistan, the Bush tax cuts, Obama's recovery measures, TARP, Fannie and Freddie. Can you guess which one has the broadest and most far reaching damaging impact? Fascinating stuff. http://www.cbpp.org/cms/index.cfm?fa=view&id=3036 ...

1. The deficit has grown mostly because of the recession. (The deficit has ballooned not because of specific spending measures, but because of the recession. The deficit more than doubled between 2008 and 2009 as the economy was in free fall and laid-off workers paid less in taxes and needed more benefits. The deficit then shrank in 2010 and 2011.) 2. The stimulus cost much less than Bush's wars and tax cuts. (Republicans frequently have blamed the $787 billio ...

As the government closes the books Sunday with a $1.1 trillion deficit for the year, which required borrowing 32 cents for every dollar it spent, budget analysts have little confidence in either presidential candidate's plan to address the accumulating debt, now at about $16 trillion. The Republican nominee promises to balance the budget in eight years to 10 years, but he also offers a mix of budgetary contradictions: higher Pentagon spending, restoring cuts that Democrats made in Medicare ...

Was just talking with my friend tonight. I have known as she has also for years that her 1st grader was not 100% "right," something was off with him. Tonight she tells me someone is finally maybe listening to her about him. He is in his own little world. I do not think autism because of the fact he will halfway interact "sometimes," does not reject a hug or kiss and maybe I am wrong but I thought autistic children were like that. I could be wrong. His teacher is every day trying to tell the moth ...

Guess it's back to the drawing board. It's true that a commission that began with only limited authority failed in its most significant goal, which was to win at least 14 votes among the 18 members. Fourteen votes were needed to send the package to Congress as an official recommendation and force a vote on the proposals. It's also true that prominent members of Congress on the committee took a walk on the commission report. That group included Rep. Paul Ryan (R-Wisc.), who will ...

I have a feeling these suggestions won't go very far....especially the gas tax. If it isn't the people against some of the cuts, it will definitely be the federal employees against a wage freeze. I think the Congress will also be against their pet earmarks. In my opinion, I think the federal employees could and should allow a wage freeze. The rest of America had to swallow it, why shouldn't they? As for earmarks, I think only the frivolous ones, like the ones stu ...

The Congressional Budget Office has released its estimate for the fiscal year 2012, just ended on September 30 and the news is good. The federal deficit was just under $1.1 trillion, compared to just under $1.3 trillion at the end of fiscal year 2011, a reduction of $207 billion. As a percentage of the GDP, the 2012 deficit dropped to 7.0 per cent, down from 8.7 percent in 2011 and 9.0 percent in 2010. The actual deficit numbers will be released later this month by the Treasury DepartmentThe Sep ...

It starts with the figures released in 2009, when the deficit reached a record high of $1.4 trillion. Why is the column in red? Because, thanks to fiscal years, Obama inherited a deficit of nearly $1.3 trillion from Bush/Cheney the moment he took the oath of office. This year, however, according to the official data published by the Treasury Department, the deficit is 1.089 trillion. A big number, but going down--no thanks to those helpful Republicans in Congress. ...

A Progressive Deficit Reduction Plan Repeal all of the 2001 and 2003 Bush tax breaks for the top two percent. Repealing the 2001 and 2003 tax breaks for the top two percent would reduce the deficit by about $1 trillion over the next decade. After President Clinton increased taxes on the top two percent, the economy added over 22 million jobs. After President Bush reduced taxes for the rich, the economy lost over 600,000 private sector jobs. Create an emergency de ...

All these articles are quite long but are worth reading every word. Remember, nothing is written in stone. All can be tweaked. I found some of the ideas very good, and some 'not so good.' All in all, it's good that there's plenty of input happening and hopefully, our government will READ (if that's possible) them and debate/compromise on them. The first one is from the Brookings Institute which gives quite a few plans from various Senior Fellows: http://www.brookings.e ...

Federal Reserve Chairman Ben S. Bernanke warned Wednesday that Americans may have to accept higher taxes or changes in cherished entitlements such as Medicare and Social Security if the nation is to avoid staggering budget deficits that threaten to choke off economic growth. "These choices are difficult, and it always seems easier to put them off -- until the day they cannot be put off anymore," Bernanke said in a speech. "But unless we as a nation demonstrate a strong commitment to fiscal re ...

http://www.cnn.com/2009/POLITICS/10/21/health.care.cbo/index.html ...

On the left side is also more statistics on unemployment real and reported, births, etc. Near the bottom is corporate assets, small business assets, personal assets. There's also a lot more. Check it out. The moving numbers may get ya dizzy, though. http://www.usdebtclock.org/ ...

I find this hilarious (for want of a better word). It was a twitter that flashed by and I was curious so went to the site. The whole article is in PDF here: http://taxprof.typepad.com/files/tax-notes-today_-2010-tnt-1...pdf Deficit Reduction Commission Seeks Increase in its Budget Eric Kroh, Fiscal Commission Bemoans Lack of Resources, 2010 TNT 106-2 (June 3, 2010): Saddled with a tight deadline and great expectations, members of President Obama's deficit reducti ...

Sharp kid. See link. ...

Sen. Lieberman calls for Obama to be more involved in deficit negotiations By Alexander Bolton - 12/02/12 06:00 AM ET Sen. Joe Lieberman (Conn.), the independent Democrat who has played roles in past Senate compromises, says President Obama needs to get more involved in the fiscal cliff talks. Lieberman, who brought Republican senators on board with the 2009 economic stimulus package and a 2005 deal on judicial nominees, says it’s time for Obama to gather congressional leaders arou ...

Last week we got one of the female kittens fixed. All went well and by the next day all her siblings were back to normal with her. She is more affectionate and loveable now. Three sisters left to go. Today one of the sisters went into heat. Actually I think yesterday she went into heat. Then today another one of her sisters went into heat. HOWEVER...We found her mounting the other in heat. Was looking up if female cats in heat mount other female ca ...

that we, as a group of people that come to this site, are as varied as they come. We are all passionate about our beliefs, values. I have not seen yet one person that has changed their mindset on anything due to something that another poster said.This weeks hot topic of course is the health care system. Some here are so dead set against it that it scares me, as well as those that are so set in favor of it. Why does it scare me? Both sides are so set in their thinking that I honestly believe that ...

...sing "Godd-- America" to open the convention. ...

Part-time, no benefits, but pay is better PLUS it's a foot in the door with this particular employer. We'll see what happens. Job is 10,000 times easier than medical transcription - hourly. Hourly! ...

trying to work hard with no distractions this week to determine a solid average per hour rate. otherwise im going ahead with job interview next week, in-office transcribing position, FT with benefits. do not know any other information at this point. My first hour this morning made 14.40. Here goes my 2nd hour.... ...

Benghazi: Similar to five other government reports, the one released by the House Intelligence Committee on Friday left Republicans in the same position they have been in for two years: with little evidence to support their most damning critiques of how the Obama administration, and then-Secretary of State Hillary Rodham Clinton, responded to the attacks. Climate Change: During a recent visit to China, President Barack Obama and Chinese President Xi Jinping announced a potentially landmark ...

Fool of the Week: Brian Williams http://www.foxnews.com/opinion/2015/02/06/fool-week-brian-williams/ He is apparently taking some time off work. I hope he finds himself, whomever that may be. http://www.foxnews.com/opinion/2015/02/06/fool-week-brian-williams/ ...

So, they say Biden and some "top" Democrats will not be attending. I understand the sentiment, and they can always watch on CSPAN and get the info, I suppose, but I do think they should listen, even if they don't believe he should be here, which I agree, he shouldn't. Boehner has made a large error and Republicans supporting him are being very destructive to our country's image in the world, not to mention further fracturing Congress. "For starters, it’s completely unc ...

Tackling the Deficit-Fix-It Week

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