Cutting Meals On Wheels doesn’t save the government a dime, it costs $489 million a year. Cutting IRS obviously increases the deficit because it lowers tax revenue. Other cuts also increase spending. All obviously hurt the economy. Tell me again, what’s the justification for this? Repeal this foolish and unjustified sequester. A continuing seriesRead the [...]
The Truth and Consequences of Sequestration
All of the original justifications for budget cuts have gone away. The sequester is hurting the economy and keeping unemployment high. But instead Republicans plan to double down on cuts. Apparently their real game is to force high unemployment and desperation for 99% of us to further enrich the 1%. A continuing seriesRead the full [...]
There was a flaw in the “sequester” — it hit some people who are not poor. The sequester budget cuts caused delays for business travelers (and members of Congress) and the Congress acted in hours. Meanwhile the elderly, poor, homeless, disabled, hungry and unemployed experience dramatic cutbacks. And 750,000 layoffs in 2013 will result. Congress [...]
Austerity is beginning to hit and the economy is slowing as a result. The most immediate effect is that flights are delayed, but unemployment checks are smaller and there are fewer things We the People do to make our lives and economy better — also called “government spending.” But hey, as Dean Baker writes in, [...]
The economy is not working for We, the People. But even with $4 trillion already cut from deficit projections, a deficit drop of about 50 percent as a share of gross domestic product, and Congressional Budget Office projections that the deficit is stable for the next 10 years Washington remains focused on even more economy-killing [...]
The Truth and Consequences of Sequestration, Pt. 2 Earlier I wrote that truth about the sequester is that White House prescribed it as antidote to the “fever” that had driven the GOP into such delirium that the Republicans were ready to crash the economy and take the rest of the country down with it. Surely [...]
“Success has many fathers, but failure is an orphan,” the old proverb goes. The sequester is one of the biggest examples of Washington’s failure to address the crises facing the country, but it is not an orphan. This failure has more fathers than even a “Maury Povich Show” paternity test could begin to sort out.