Budgets are about priorities. Despite Chairman Ryan's rhetoric on fighting poverty and boosting opportunity, no fair-minded observer can claim that his proposals actually reflect those priorities -- or sugarcoat their harsh impact on tens of millions of low- and moderate-income Americans.
Basic budget arithmetic suggests that House Budget Committee Chairman Paul Ryan's coming budget will be at least as extreme as his budget last year, and likely more so.
Recently, while avoiding some homework, I came across a video of a presentation given at Bowdoin College. I was cautious, at first, about clicking "pl...
For the first time since the '30s, the 99 percent stood up and pointed out the real culprits -- Wall Street and the politicians they own. People listened, they heard, and began to believe.
As one of the leading experts on work and the economy, he shares his thoughts on the state of jobs, income inequality and more.
While we absolutely need to continue to tackle our long-term budget deficit and debt challenges fairly and responsibly, we now have some breathing room to also focus on the other deficits facing our country.
We have been getting significant positive economic news of late, but here is one you may have missed because for some reason it has not generated much media coverage. Our nation's current account deficit -- the trade deficit -- in the last quarter of 2013 was the lowest it has been in 14 years.
This isn't to suggest that all Republicans are easily-misled simpletons. They're not. Yet their party consistently panders to its easily-misled simpleton base with the most egregiously dishonest ideas in American politics.
While news outlets don't just invent numbers on the budget, it would not be much of a change for the worse if they did. The news stories that we saw following the release of President Obama's budget followed the same practice we have seen in budget stories for decades. They threw very large numbers at readers that no one understands.
The president wants to provide pre-kindergarten to every student and expand the existing Head Start program, which provides early childhood education to low-income families. The budget proposal would dedicate $66 billion over 10 years to this initiative.
The devil is in the details, as the saying goes. We've seen many plans shared by the current administration that went wrong. And, those plans had far more supporting documentation than this deficit elimination plan.
President Obama's new budget is a solid blueprint that would reduce deficits, alleviate poverty, and boost investment in areas needed for future economic growth, such as infrastructure, education, and research.
The Department of Defense recognizes that it has a Hispanic retention problem. As any business operator knows, that's expensive. Losing a trained employee means they have to start over teaching a new one.
Now the ball is in Obama's court. Is he going to present a big plan that tries to tackle the serious long-term fiscal problems the nation faces?
This was a week of expansion and contraction. Equal rights were allowed to continue expanding in Arizona, where Governor Jan Brewer vetoed an anti-gay bill masquerading as a "religious freedom" bill, and in Texas, where a federal judge ruled the state's gay marriage ban unconstitutional. Meanwhile, the Treasury Department announced that the deficit had shrunk to its smallest level since 2008 -- although the victory here is less clear, since the byproduct of deficit cutting in the middle of an ongoing recession has been prolonged unemployment and slow growth. The idea that government spending should contract at the same time the overall economy does is an American Hustle not worthy of an award. More entertaining will be seeing whether the cinematic American Hustle will triumph tonight -- or whether the Best Picture Oscar will go to fellow front-runners Gravity and 12 Years a Slave. My own prediction for a big win: Ellen.
On revenue neutrality, the plan uses revenue-raising provisions whose savings taper off or disappear after the first decade, and it includes a major tax cut whose full costs don't appear in the first decade.