News
NY Times | Obama Cuts $4 Billion, Then Uses It Elsewhere
Cutting wasteful government spending is one of those exercises that even the most ardent political opponents agree is a good thing. But what one does with those savings is quite another matter.
National Journal | Debt Panel Misses First Deadline
With a third of November gone, the super committee has missed a soft deadline to deliver a deficit-cutting package to the Congressional Budget Office, and that means time is nearly up for lawmakers to propose anything the numbers-crunchers haven’t seen before.
NY Times | Panel Is at Impasse, but Obama Sees No Reason to Step In
The White House’s expectations for the special Congressional committee on deficit reduction, never high, have been all but dashed now that the panel has reached a partisan impasse less than two weeks before it is supposed to recommend a compromise plan.
Econ Comments
Washington Times | MILLER: A bipartisan Balanced Budget Amendment
House Republicans pick pragmatism over purity in deficit fight.
Politico | The answer is: Spend less. Period.
The federal government is spending too much money. Our nation has made more than $63 trillion in unfunded promises, to be paid for by future generations. It poses an existential threat to America’s dynamic, pro-growth economy. The solution to this problem is to reduce federal spending.
Blogs
American: Enterprise Blog | Why Republicans should insist on dynamic scoring
Democrats argue against assuming that tax cuts would—at least to some extent—pay for themselves. In fact, they have been making that “static scoring” argument for 30 years.
Heritage Foundation | Austerity Successes in Previous Downturns
The left continues to resist any suggestion of spending cuts right now. In their view, a depressed economy is no time to slash spending; that would only further weaken demand. The successful austerity policies adopted in response to the downturn of 1920, however, offer a clear rebuttal to this notion.
