(Based on the Bowles Proposal to the Joint Select Committee on Deficit Reduction)
Deficit Reduction
Revenue through Tax Reform: $800B
Health Savings: $600B
Other Mandatory Savings: $300B
Revision to CPI: $200B
Any idea on what the Revision to CPI entails? Is there a way to revise the CPI so that it would save the federal govt $200B? Like by producing a lower inflation reading so that they don’t have to pay as much on TIPS or something?
despite the common reaction of handwringing over a “lack of bipartisanship”, well, lack of partisanship might actually be a good sign. a sign of life. afterall, if the tianic is to turn, there is a point of lowering of acceleration, loss of speed, zero movement (and presumeably chaos from which a dominant philosophy will take root) and then, finally, reversal that must be gone through in order to move forward in any different direction.
this so-called “breakdown” simply reveals in stark reality the dangers and wrecklessness of the pragmatism-based opportunistic parties and their lack of philosophy. the fact that there are actual numerical dollar amounts assignable to the cumulative damage, year to year, is only one indication the increasing cost of not having rigorous philosophical underpinnings to either party.
jon stewart is terrible. he himself is not in favor of welfare state cuts – thats why he tried to help obama get elected. he might say “entitlement reform” but his vision of america is a huge progressive welfare state. sure republicans are retarded for not letting dems get their way on taxes. but its all a game because the dems (and in fact no one in government save a few libertarians) are in favor of real cuts to the welfare state.
Meh. The fiscal cliff is an illusion if there is no actual spending reform. Which there isn’t. Total spending is what 3.6 trillion? 2.2 billion over 10 years is peeing in the wind. 2 billion in spending needs to be cut TODAY not over 10 years.
Jon Stewart must be a funny guy to make this dreary spectacle entertaining. But it’s sad that millions of 20 something’s get their political analysis and economic insights from talk show jokers.
Anyway, this whole “fiscal cliff” kabuki theater is tiresome and useless. Democrats will squeeze Congressional Republicans till their beady eyes pop out of their pointy heads and we will see useless marginal tax increases on the wealthy which will not reduce the deficit one iota. There will be no actual spending cuts regardless of what the Republicans and Democrats may say, wink, wink, nudge, nudge. The debt limit will go up as usual and deficit spending will continue at current or higher rates for the foreseeable future. Same old exasperating political theater from the 2 headed monster in D.C.
The “fiscal cliff” rhetoric is all designed to turn the actual looming crisis into another fear to get the mob to vote your way – you have to elect US, poor citizen, or the other guys will destroy the country!
I am not paying close attention to this but just read a Washington Post Article “Republicans make their ‘fiscal cliff’ counteroffer” http://www.washingtonpost.com/blogs/right-turn/wp/2012/12/03/republicans-fiscal-cliff-counteroffer/
House Republican Counter
(Based on the Bowles Proposal to the Joint Select Committee on Deficit Reduction)
Deficit Reduction
Revenue through Tax Reform: $800B
Health Savings: $600B
Other Mandatory Savings: $300B
Revision to CPI: $200B
Any idea on what the Revision to CPI entails? Is there a way to revise the CPI so that it would save the federal govt $200B? Like by producing a lower inflation reading so that they don’t have to pay as much on TIPS or something?
My guess would be that it has to do with adjusting the automatic increases tied to CPI for things like SS.
Ah, okay that makes more sense. Thanks, Dan!
despite the common reaction of handwringing over a “lack of bipartisanship”, well, lack of partisanship might actually be a good sign. a sign of life. afterall, if the tianic is to turn, there is a point of lowering of acceleration, loss of speed, zero movement (and presumeably chaos from which a dominant philosophy will take root) and then, finally, reversal that must be gone through in order to move forward in any different direction.
this so-called “breakdown” simply reveals in stark reality the dangers and wrecklessness of the pragmatism-based opportunistic parties and their lack of philosophy. the fact that there are actual numerical dollar amounts assignable to the cumulative damage, year to year, is only one indication the increasing cost of not having rigorous philosophical underpinnings to either party.
jon stewart is terrible. he himself is not in favor of welfare state cuts – thats why he tried to help obama get elected. he might say “entitlement reform” but his vision of america is a huge progressive welfare state. sure republicans are retarded for not letting dems get their way on taxes. but its all a game because the dems (and in fact no one in government save a few libertarians) are in favor of real cuts to the welfare state.
Meh. The fiscal cliff is an illusion if there is no actual spending reform. Which there isn’t. Total spending is what 3.6 trillion? 2.2 billion over 10 years is peeing in the wind. 2 billion in spending needs to be cut TODAY not over 10 years.
http://www.usgovernmentspending.com/year_spending_2011USbn_13bs1n_909700010210_651#usgs302
Pretty powerful information.
Federal Employee Retirement & Disability spending = Total of all education spending. Woah
All the entitlement programs + defense spending = ridiculous amount of money. Kind of interesting how it is all broken down.
Jon Stewart must be a funny guy to make this dreary spectacle entertaining. But it’s sad that millions of 20 something’s get their political analysis and economic insights from talk show jokers.
Anyway, this whole “fiscal cliff” kabuki theater is tiresome and useless. Democrats will squeeze Congressional Republicans till their beady eyes pop out of their pointy heads and we will see useless marginal tax increases on the wealthy which will not reduce the deficit one iota. There will be no actual spending cuts regardless of what the Republicans and Democrats may say, wink, wink, nudge, nudge. The debt limit will go up as usual and deficit spending will continue at current or higher rates for the foreseeable future. Same old exasperating political theater from the 2 headed monster in D.C.
The “fiscal cliff” rhetoric is all designed to turn the actual looming crisis into another fear to get the mob to vote your way – you have to elect US, poor citizen, or the other guys will destroy the country!