We Only Need $1.4 Trillion in Deficit Reduction Before 2022

CBPP says just $1.4 trillion more in tax increases or spending cuts will stabilize the debt. There is no need to do more: With the “fiscal cliff” deal in place, President Obama and Congress are now expected to seek more deficit reduction to replace the automatic spending cuts (“sequestration”) that are scheduled to take effect [...]

Wall Street Laughs At Pat Toomey’s Debt Ceiling Plan

Ezra Klein says Wall Street is not buying Pat Toomey’s claim that markets won’t mind if we breach the debt ceiling, so long as we keep making our coupon payments: Would the markets really be so calm in the face of the United States government doing something it has never done before and purposefully breaching [...]

Brad Osborne Senses That The Tea People Have Worn Out Their Welcome…

Colin McEvoy on the Green Future Fund grants foolishness from the Lehigh County Tea People: Osborne also noted that the commissioners’ general services committee previously recommended unanimous approval of these grants, and he feels the full board should not walk away from their own recommendation. “We must do this so the public doesn’t lose confidence [...]