Tag Archives: spending

Debt Ceiling



Is the debt ceiling the new fiscal cliff?

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.”


We’re All Investors Now

Republicans used to call it tax and spend. Now it’s mostly just spend. Democrats call it investing. For all the hope and change, things have stayed pretty much the same.

I drew this in 1992.

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