The Washington Independent

Posts Tagged budget deficit

Family Research Council decries immorality of federal deficit, defends its own budget gap

By | 06.28.11 | 5:38 pm

The focus at conservative Christian policy group Family Research Council this past month has been on fiscal policy — on the federal government’s and on its own. While the $14 trillion federal deficit has been characterized as a moral issue — one caused by irresponsibility and spending addiction — FRC More…

Representatives argue over use of ‘socialist’ to describe members of Congress, progressive budget plan

By | 04.18.11 | 10:13 am | More from The Minnesota Independent

Democratic members of Congress balked at being called socialists during a debate on Friday over the Republicans’ proposed budget and the Progressive Caucus’ proposed budget. Republican Rep. Mo Brooks of Alabama accused the progressives in Congress of being socialists who are putting America “at risk.” Rep. Keith Ellison asked that More…


With budget impasse still unresolved, poll shows Americans want compromise to avoid government shutdown

By | 04.05.11 | 12:30 pm

On Tuesday morning, Rep. Paul Ryan (R-Wis.) rolled out the House GOP’s “budget blueprint” for 2012. Meanwhile, the White House and the GOP-controlled House still have not reached an agreement on how to to continue funding the government through the end of the current fiscal year, which ends in More…

Bernanke to Congress: Address the Debt

By | 10.05.10 | 2:26 pm

Yesterday, Federal Reserve Chairman Ben Bernanke gave a speech to the Rhode Island Public Expenditure Council. He argued that the United States is on an unsustainable fiscal course, and that while he does not advise cutting spending in the next two years, after 2012 Congress needs to get serious More…

What the State Aid Bill Can’t Fix

By | 08.19.10 | 11:35 am

There are 10,000 examples like this one, from Texas:

Leon Evans is used to doing more with less. But with the state facing an estimated $18 billion budget shortfall, even Evans is dreading the spending cuts to come. Evans runs the Center for Health Care Services, the local mental


States Report Lower-Than-Expected Tax Revenue

By | 05.17.10 | 11:00 am

All that hand-wringing over California being the next Greece might not be for nothing. States are starting to report their April tax collections, and several have announced numbers far lower than expected even a few weeks ago, auguring bigger deficits and budget shortfalls for next year. The Wall Street More…

Conservatives See Long-Term ‘Gift’ in Obama Spending Freeze

By | 01.29.10 | 6:00 am

On December 9, House Republicans did what they’d done multiple times throughout 2009. They released an open letter to President Obama, laying out their ideas for a “No-Cost Jobs Plan.” It included, among ideas like scaled-back energy regulation and a temporary tax break for corporations repatriating More…

America Unable to Talk About Debt Without Losing It

By | 05.27.09 | 5:17 pm

Let’s be clear, America has a debt problem. President Obama inherited a significant structural budget deficit (that is, a deficit that occurs even with the economy at full employment) from George W. Bush, which has grown substantially as the economy has weakened and the government has pursued countercyclical policies. Obama’s More…

CBO Projects $1.8 Trillion Deficit; Orszag Responds

By | 03.20.09 | 2:37 pm

The Congressional Budget Office has conducted an analysis of President Obama’s budget proposal and now projects a $1.8 trillion deficit this year, up from a $1.2 trillion projection in January.

“As estimated by CBO and the Joint Committee on Taxation, the President’s proposals would add $4.8 trillion to the baseline More…

CBO: Deficit to Hit $1.2 Trillion

By | 01.07.09 | 1:22 pm

Well, I guess we knew this was coming…

The 2009 federal budget deficit is projected to be $1.2 trillion, the Congressional Budget Office announced today — NOT INCLUDING THE ECONOMIC STIMULUS PACKAGE EXPECTED TO ARRIVE EARLY NEXT MONTH.

From USA Today:

In the first official reckoning of the damage