The Congressional Budget Office said Wednesday that the two-year budget deal will increase our annual deficits significantly over the next ten years. That puts a premium on Republicans regaining the majority in the House, retaining/expanding its majority in the Senate, and retaining the White House, with an emphasis on Conservative Republicans in that mix. That’s for another post, though.
What…triggered…me was this bit at the end of the article CBO Director Phillip Swagel:
The nation’s fiscal outlook is challenging. To put it on a sustainable course, lawmakers will have to make significant changes to tax and spending policies—making revenues larger than they would be under current law, reducing spending below projected accounts, or adopting some combination of those approaches.
Progressive-Democratic Party Presidential candidates are spending more money than they’re collecting through campaign donations.
Eleven of the Democratic presidential campaigns, including former Texas Congressman Beto O’Rourke, New Jersey Senator Cory Booker and former Colorado Governor John Hickenlooper spent more than they raised in the most recent three months.
How quickly the 24 Democratic contenders are burning through cash seven months ahead of the first primary caucuses and elections is as important as how much they are bringing in.
Of course, they have to in order to stay/get competitive in the race.
The broad Keynesian misunderstanding regarding government spending is continuing.
Spending by consumers and businesses are the most important drivers of economic growth, but in recent years, government outlays have played a bigger role in supporting the economy.
The level of the federal component of GDP in the first quarter of 2019 was $78 billion, or 0.4%, lower than what forecasters expected it would be following the February 2018 budget deal….
The government is spending much less on disaster relief than it did in fiscal 2017, and a partial shutdown temporarily stalled outlays in January. Those factors explain about one-third of the missing stimulus, Mr [Ernie, an Evercore ISI economist] Tedeschi said.
President Donald Trump held America’s Independence Day celebration with a Salute to America, centered at the Lincoln Memorial.
Together, we are part of one of the greatest stories ever told—the story of America. Today, just as it did 243 years ago, the future of American Freedom rests on the shoulders of men and women willing to defend it.
In spades. They’re in a race to bankrupt us. Or, as The Wall Street Journalput it,
The Democratic presidential primary is turning into a bidding war.
Senator and Progressive-Democratic Party Presidential candidate Elizabeth Warren (D, MA) has broken out of the starting gate with an offer of forgiveness of $640 billion in student debt for our votes.
Senator and Progressive-Democratic Party Presidential candidate Bernie Sanders (I, VT), though, has caught her at the first turn: he’s offering $1.6 trillion (yes, that’s with a ‘t’) in canceled student debt plus tuition-free “public” colleges.
Free Stuff, that is. Here’s the latest from Senator and Progressive-Democratic Party Presidential candidate Elizabeth Warren (D, MA). In addition to all the other free stuff she wants us to have, now she wants free child care.
[F]amilies living below the 200% poverty threshold (roughly $51,500 for a family of four) would get free access to child care and early education….
With this, Warren wants folks who, by her own definition, are not poverty-ridden to get free child care. Notice, too, she’s lumped in with child care her “early education”—that’s her tacit admission that our public schools no longer provide actual education; they’re just child care facilities.
This one has the advantage of being live and current. The Progressive-Democratic Party has extended its control over the State of California. The results accumulating from the several years of Progressive-Democratic dominance (now outright control) are these. California has
the highest welfare numbers (a third of all Americans on welfare live in California)
the largest contingent of illegal immigrants
a burgeoning homeless population
onerous regulations on business and private property
mediocre public schools
high income taxes (the highest marginal rate is 13.3%) and sales taxes
Russian President Vladimir Putin, speaking during his state-of-the-nation address Wednesday, warned that Russia will aim new hypersonic missiles at the US should it deploy new intermediate-range missiles in Europe.
Russia and its predecessor USSR have aimed weapons, including nuclear weapons—ICBMs, SLBMS, nuclear-armed bombers—at the US since they first acquired the weapons. Does anyone really believe Putin doesn’t already have nuclear weapons aimed at the US today? Is anyone interested in some beachfront property north of Santa Fe?
Progressive-Democrat strategist and pollster Doug Schoen is worried about new rumors that Amazon might pull out of its agreement to relocate a part of its HQ2 in New York City. He’s hanging his hat on the commitment from Amazon to produce 25,000 jobs at an average salary of $150,000 per year.
It would be a “disaster for the city,” he wrote in the Fox News op-ed, for Amazon to pull out.
Burdened by a shrinking tax base, crumbling infrastructure, and a lack of good-paying middle-class jobs for the future, New York City needs innovators like Amazon.