This week, the budget committees of both chambers of Congress released their budgets ahead of President Obama’s budget—marking the first time in 92 years that Congress kicked off the budget process instead of the President. The House budget, under the helm of Chairman Paul Ryan (R–WI), delivers a balanced budget …
On their respective blogs, economists Mike Konczal and Paul Krugman criticize the widely cited finding that a nation’s debt above 90 percent of its gross domestic product (GDP) slows economic growth. They presume that the limitations of one study by Carmen Reinhart and Kenneth Rogoff mean that its warning can …
As Members of Congress left town last week for the Presidents’ Day break, a refreshing and commendable sentiment followed them: nostalgia for the “regular order” of lawmaking. “Tired of watching as flailing leadership negotiations fail to produce any key legislation,” wrote The Washington Post, “senior lawmakers hope that a return …
President Obama’s State of the Union Address tomorrow evening provides him with a chance to explain how he would put the country on a path to a balanced budget. He should talk about entitlement program reforms and meaningful discretionary spending cuts, but he should also target the low-hanging fruit of …
While President Obama keeps calling for more taxes, today’s figures from the Congressional Budget Office (CBO) show the tax hike he signed into law just last month will provide no lasting improvement in the federal government’s fiscal outlook. This is because spending continues to grow, driving deficits back toward the …
Is President Obama channeling Juan Perón? The President does seem to have a few things in common with the political descendants of the late Argentine dictator. For example, due to ongoing lawsuits stemming from Argentina’s still unresolved $100 billion sovereign debt default in 2001, Argentina’s current president, Peronist Cristina Fernández …
