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from The Great Debate:

To help end budget gimmicks, pass this bill

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When it comes to addressing our growing national debt, there is no shortage of disagreement between the political parties in Washington. But there is one thing they should both agree on: to tell the truth about our nation’s growing fiscal imbalance.

That’s hardly the case today. Fiscal reporting by the federal government -- whether through the Congressional Budget Office or the Office of Management and Budget -- vastly underestimates the size of the problem we face and the inter-generational consequences of remaining on our current path.

For example, trillions of dollars in unfunded promises to current and future retirees through programs like Social Security and Medicare are not captured in either the reporting of this year’s deficit or our total national debt. In addition, cost projections on pending legislation only look 10 years into the future -- hardly far enough to gauge their long-term budgetary impact.

As a result, the real financial burdens being placed on young people and future generations are not adequately disclosed and action to fix this problem is being delayed.

from The Great Debate:

Why Obama must prevail for a ‘grand bargain’

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President Barack Obama and House Speaker John Boehner (R-Ohio) (R) in Washington, Mar. 19, 2013. REUTERS/Gary Cameron

It's been a while since we've had good news about our economy, so the recent upbeat reports are welcome. The deficit picture for 2013 has brightened a bit, along with an upturn in the housing market. Yet those developments don't tell the full story. Our economic horizon remains cloudy due to serious structural challenges.

from The Great Debate:

When talk was of investing in public good

Washington negotiations to avert the “fiscal cliff” now include the role that tax increases could play in addressing the federal budget deficit. Serious cracks are appearing in the Republican lawmakers’ anti-tax firewall, as fewer new GOP legislators are signing Grover Norquist’s pledge and some high-profile signatories are questioning it.

Norquist is urging policymakers to look to the states for inspiration in crafting federal budget reform. But his claim that states want to eliminate key sources of revenue is out of step with reality — and with the broader history of tax reform at the state level.

from Tales from the Trail:

U.S. religious leaders urge moral solution to debt talks

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Don’t balance the U.S. budget on the backs of the poor and sick, religious leaders said, suggesting that their churches’ charity work is already overstretched and social havoc could result if the government’s social safety net is abandoned.

Representatives from Protestant, Jewish, Muslim and interfaith groups and churches expressed their collective disappointment with the tone of blame in the debt debate between President Obama and congressional negotiators.

from Tales from the Trail:

Then came social issues and ‘morality’…

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RTR2CNMS_Comp-150x150The Tea Party's November victories and the ensuing Republican drive for spending cuts are in large part the result of a political strategy that focuses tightly on fiscal and economic matters, while minimizing rhetoric on moral questions and social topics. But for how much longer can Republicans keep a lid on the culture war?

The 2012 presidential race, though lacking in declared GOP candidates, may be about to pry open a Pandora's box bearing the name of social issues that have long divided Republican and independent ranks. And such an occurrence could work against the interests of fiscal conservatives, just as the GOP girds itself for a showdown with Democrats over spending cuts and the debt ceiling later this spring.RTXXP42_Comp-150x150

from Tales from the Trail:

Is Rand Paul a U.S. Senate action hero?

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RTR9KH6_Comp-150x150It didn't take Rand Paul long to become Captain America of the U.S. Senate. He's tough-minded, strong-willed and he's ready to battle the most dangerous titans on the political landscape, like Social Security and Medicare.

In fact, the Republican Tea Party favorite from Kentucky tells MSNBC's "Morning Joe" that a courageous and comprehensive plan for fixing America's public finances will soon be on the march. And if all goes as planned, much may be accomplished before the start of this year's Major League Baseball season.

from Tales from the Trail:

As GOP regroups on healthcare, new poll questions its priority

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USA-HEALTHCARE/The new House Republican majority may be about to do what President Barack Obama did a year ago -- assign the top priority to healthcare at a time when Americans really really want action on the economy and jobs.

That's what a new Gallup poll suggests. Pollsters found that a clear majority of U.S. adults (52 perecent) think it is "extremely important" for Congress and Obama to focus on the economy in the new year. Next in importance come unemployment (47 percent), the federal budget deficit (44 percent), and government corruption (44 percent).

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