From Laurie: MJ Today's Budget Deal is Fine
VOX Budget / Debt Ceiling
Fox News Real Compromise
I assume this means that financial responsibility is dead for now...
VOX Budget / Debt Ceiling
Fox News Real Compromise
I assume this means that financial responsibility is dead for now...
10 comments:
This is a bad deal for Democrats. If a Democrat wins the White House, Nancy Pelosi has handed that person a debt limit showdown in the opening months of their Presidency.
What would you have preferred?
I would have preferred they cut spending to match revenues, but that was unlikely. :-)
to cut spending to match revenues for the discretionary part of the budget would require enormous cuts and is a really stupid idea. They should repeal Trump's tax cut.
My preference would be to go back to the pre-Gingrich days where Congress deemed the debt limit raised when a new budget was passed.
https://www.motherjones.com/kevin-drum/2019/07/the-budge-deficit-is-all-about-taxes-not-spending/
Laurie's link
I always find it amusing how Kevin only shows the part of the story he likes.
See these graphs for more information
He is almost as bad as Trump...
He picked 1980 probably because it was Highest Federal Spend
And that was because it was during recessions where as we are in a GDP high point.
I don't see what the problem is. The graphs you link to show the exact same trend that Drum describes.
Sean,
It is game Kevin does with graphs.
By carefully starting at 1980 and ending at 2019 without noting when the USA was in recessions or expansions he misleads people into believing:
- that 1982 is like 2018, when it is really more like 2010
- that 1982 was "normal", when it is higher than the 1970s
- that we are on track to stay at 20% when the CBO says it will go higher soon
The long term number for revenues and spend is closer to 19%...
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