Among the predictable Republican reactions to the President's proposed 2013 budget is the refrain that "Obama has failed to keep a 2009 promise to cut the deficit in half by the end of his first term." Just days after Senate Minority Leader Mitch McConnell told a CPAC audience that President Obama "said he'd cut the […]

The American social safety net is back in the news, and not just because Mitt Romney acknowledged, "I'm not concerned about the very poor." This week, the libertarian Mercatus Center at George Mason University revealed that a third of Americans now receive Medicaid, food stamps or other means-based government assistance, a number that climbs to […]

Last summer, Congress ended the debt ceiling hostage-taking drama by agreeing to $1.2 trillion in automatic budgets cuts, half of them from the Pentagon, if a so-called "super committee" failed to come up with a plan to do so. Of course, now that the Republican refusal to raise even a dime in new tax revenue […]

"Where's the beef?" With that sound bite, Walter Mondale deflated the insurgent bid of the "candidate of new ideas" Gary Hart for the 1984 Democratic presidential nomination.* Twenty-eight years later, rising Republican White House hopeful Newt Gingrich may be about to have his own "where's the beef" moment. But the growing criticism from left and […]

For any American concerned about the federal budget deficit, job one must be to collect all of the tax revenue owed to the United States Treasury. That's why supposed Republican deficit hawks simply aren't serious about the national debt. After all, a new report confirmed that steep GOP budget cuts at the Internal Revenue Service […]

When President Obama on Tuesday declared that decades of Republican trickle-down economics "never worked," conservatives were predictably apoplectic. But for all of their protests of "class warfare", "socialism" and worse, Obama was being kind to the Republican ideologues. After all, as the historical record shows, from economic growth and job creation to stock market performance […]

Two weeks ago, House Speaker John Boehner protested that the characterization of his Republican Party as "servants of the rich" was "very unfair." But after the GOP torpedoed any debt reduction deal from the Congressional super committee including "any penny" in new tax revenue from the richest Americans, Boehner's complaint seems all the more pathetic. […]

"Reality," Stephen Colbert famously told President Bush to his face, "has a well-known liberal bias." That inconvenient truth is at the heart of the expanding Republican war on the nonpartisan Congressional Budget Office (CBO). Increasingly frustrated by CBO analyses showing that the 2009 economic stimulus worked as designed, that the Paul Ryan GOP Medicare rationing […]

Without any action by Congress, on January 1, 2013 the Bush tax cuts will expire. That would not only return the top income rate from 35 percent to its Clinton boom-era level of39.6 percent. It would also produce almost $4 trillion in new revenue over the next decade, easily dwarfing the $1.2 trillion target now […]

As the Congressional "super committee" approaches its deadline to deliver $1.5 trillion in debt reduction over the next decade, the best plan may well be doing nothing. That is, absent any action by Congress, the Bush tax cuts extended in December will expire as of January 2013 and so produce roughly $4 trillion over the […]