Category Archives: senate
Fiscal Sacrifice
The president came to Washington, demanded shared sacrifice, got his fiscal cliff deal and returned to Hawaii. According to Bloomberg taxes will go up for 77.1 percent of American families. The Congressional Budget Office says the deal will cost $4 trillion over the next decade. Spending cuts? … Maybe later. Kevin O’brien has a nice rant about that here.
Budget Baseline Camp
Uncle Sam’s starting point for spending is a baseline of the previous year CBO projections for the coming year.
“The most absurd current example is Mr. Obama’s claim that his “$4 trillion” plan reduces the deficit by about $800 billion over 10 years by ending the wars in Iraq and Afghanistan. But those “savings,” as he calls them, are measured against a White House budget office spending baseline that is fictional. Those wars are already being unwound and everyone knows the money will never be spent. But they are called “savings” to gull the public and make the deficit reduction add up to a large-sounding $4 trillion.”
Borked
Robert Bork died late this year. He was a distinguished scholar. One of his many distinctions included having a last name as a verb form – “to bork”. The good judge was borked by Joe Biden and Ted Kennedy during senate hearings on his nomination to the supreme court.
The late senator from Chappaquiddick claimed, “Robert Bork’s America” was a place where “women would be forced into back alley abortions and blacks would sit at segregated lunch counters.” A more circumspect Biden would wait 25 years before claiming they would be seated in chains.
Holiday Giving
In addition to raising 1.6 trillion in new taxes, and 50 billion in new stimulus, the president wants Congress to turn over the right to raise the debt ceiling.
