Progressive Breakfast
MORNING MESSAGE: Deficit Falling Dramatically (But Only 6% Know That)
OurFuture.org’s Dave Johnson: “There is no deficit problem. The deficit is down 50 percent as a share of gross domestic product just since President Bush’s fiscal year 2009 deficit and is falling at the fastest rate since the end of World War II … [But only] 6 percent believe the deficit is shrinking! … What does it say about our country’s information channels, when only 6 percent of the public knows that the deficit is shrinking? Shouldn’t that be a signal to the media to run headlines for a month informing the public, instead of continuing to scare people that the deficit is going to eat them up?”
3 Days Til Sequester
“Sequestration’s Impact: It’s Real” says CBPP: “…the [2011] cuts and sequestration would cut discretionary spending 14 percent below the 2010 level in inflation-adjusted terms … roughly 3.8 million long-term unemployed workers receiving federally funded unemployment benefits will face nearly 11 percent cut in their weekly benefits … the WIC nutrition program for low-income pregnant women, infants, and young children will have to turn away an estimated 600,000 to 800,000 children and new mothers … more than 100,000 low-income families will likely lose housing vouchers…”
Some national parks will close. NYT: “Hiring of seasonal workers — including firefighters, law enforcement officers, search-and-rescue teams, and maintenance staff members — has been frozen. Rangers are preparing to close or cut back hours at campgrounds, trails and visitor centers…”
GOP Fractures Over Giving Obama Spending Power
GOP split over plan to give President power to make spending decisions after sequester. Politico: “…the leadership hopes to shift the onus onto Obama to administer the cuts, but letting go of power to give the president that discretion is hard to do. ‘I spent long hours writing the defense [authorization] bill,’ McCain told POLITICO, “I’m not about to give up my constitutional obligations to the President of the United States.’”
Dems reject as well. McClatchy: “…it would lock in the overall level of cuts – $85 billion for this fiscal year and $1.2 trillion over 10 years – which they argue would hurt the economy. They’ll propose smaller spending reductions supplemented by tax increases.”
Top Senate GOPers flip-flops regarding impact of sequester on military. CNN: “[Sen. John] Cornyn conceded that until now he had been parroting what Defense Secretary Leon Panetta continuously warns — that automatic, government-wide cuts could jeopardize national security. But the veteran senator said he looked into it and will now argue that even if the cuts go through on March 1, the Pentagon will still see its budget go up … He added that if ‘God forbid’ another 9/11 happens, Congress would act.”
GOP Sen. Lindsey Graham proposes higher taxes and retirement cuts to avoid sequester. HuffPost quotes: “This is the chance to do the big deal. I’m willing to raise revenue. I’m willing to raise $600 billion in new revenue, if my Democratic friends would be willing to reform entitlements and we can fix sequestration together.”
Breakfast Sides
“5 Reasons the World Is Catching on to the Financial Transaction Tax” from Center for American Progress: “…would raise an estimated $50 billion a year … encouraging investors to hold financial assets in their investment portfolios for longer periods of time instead of trading often…”
Bipartisan national security group Partnership for a Secure America issues call to avert climate crisis. Politico: “Signatories includ[e] seventeen former Senators and Congress members, nine retired generals and admirals, both the Chair and Vice Chair of the 9/11 Commission, and Cabinet and Cabinet-level officials from the Nixon, Ford, Carter, Reagan, Bush (41), Clinton, and Bush (43) administrations.”
McCain and Graham to discuss immigration with President today reports Roll Call.
