A Federal Budget Cut We Need

Congress has an idea:

American consumers have shown about as much appetite for the $1 coin as kids do their spinach. They may not know what’s best for them either. Congressional auditors say doing away with dollar bills entirely and replacing them with dollar coins could save taxpayers some $4.4 billion over the next . . . → Read More: A Federal Budget Cut We Need

The Abstract and the Concrete

Vanity of vanities, all is vanity:

This chart basically shows that Republicans are really no different than the mainstream when it comes to specific spending cuts (which, incidentally, is why Rep. Ryan’s budget is a joke). Now, it is true that Republicans are more supportive of spending cuts in general. However, once you start . . . → Read More: The Abstract and the Concrete

Today's Inquiry into English Usage and Basic Mathematics ...

This one’s from the New York Times …

And as the Pentagon confronts the prospect of cutting its budget by about 10 percent over the next decade …

… but you can probably find it in just about any newspaper article discussing the upcoming “budget cuts.”

So, just how deep are these horrendous, army-killing . . . → Read More: Today’s Inquiry into English Usage and Basic Mathematics …

This Means a Lot

Via Yahoo:

The House on Friday passed a Republican budget blueprint proposing to fundamentally overhaul Medicare and combat out-of-control budget deficits with sharp spending cuts on social safety net programs like food stamps and Medicaid.

The nonbinding plan lays out a fiscal vision cutting $6.2 trillion over the coming decade from the budget submitted . . . → Read More: This Means a Lot

New Evidence on the Effects of Fiscal Policy

From Alberto Alesina and Silvia Ardagna (link):

“We examine the evidence on episodes of large stances in fiscal policy, both in cases of fiscal stimuli and in that of fiscal adjustments in OECD countries from 1970 to 2007. Fiscal stimuli based upon tax cuts are more likely to increase growth than those based upon . . . → Read More: New Evidence on the Effects of Fiscal Policy