Budget Times

The House Passes a Budget! (A Final Update)

Rebecca Kleinman — Sat, 22 Nov 2008 07:16:19 +0000

Lawmakers working into the night passed a budget designed to reduce the federal deficit by two-thirds by 2012. The Democrat-sponsered budget alternative passed the House by more than the required two-thirds majority. Both sides made concessions. Republicans were unsuccessful in expanding military forces, but they did get the war planes they wanted. The Democrats secured Medicare funding. There were few disruptions, save for when Majority Leader was ruled out of order and, by the governing rules, was forced to carry the out-of-order-umbrella.

Speaker Nancy Pelosi presided and held what could have been a fiery debate to an even keel.

Statement From Maxine Waters

Rebecca Kleinman — Sat, 22 Nov 2008 06:05:37 +0000

In general the HOPE 3 proposal is a sound budget with a great housing
stimulus package. However, to my dismay, the budget includes an option
that allows auto sales tax deductions. This option does two things that we
should be aware of in accepting the purposed HOPE 3 budget.
1. There is no specification as to the “certain types of motor
vehicles” that can receive tax deductions. To this end, the
automakers who have been very arrogant in their decision making
thus far will try to sell the gas guzzling automobiles that have
contributed to their current financial woes.
2. This option will open the door for an auto industry bailout
where “we basically get the big boys that are well connected and
too big to fail” to continue the same stupid decision making of
the past 25 years.

My Times Colleague, Nobel Prize Winning Economist, Said it Best: We Need Progressive Policy!

Rebecca Kleinman — Fri, 21 Nov 2008 23:12:20 +0000

OPINION | November 21, 2008
Op-Ed Columnist: The Lame-Duck Economy
By PAUL KRUGMAN
The prospects for the economy look much grimmer now than they did a week or two ago. Yet economic policy, rather than responding to the threat, seems to have gone on vacation.

Debate on Bush Budget Closed – Republicans Spoke Out!

Rebecca Kleinman — Fri, 21 Nov 2008 22:54:48 +0000

During the Hearing, Representative Lincoln Diaz-Balart (R-FL) breaks allegiance to the party and speaks out against the budget proposed by the Bush Administration. It is believed that Rep. Diaz-Balart is just one of many Republicans who oppose the Bush Budget.

Tom Davis (R-VA), who serves as Ranking Minority Member on the House Oversight and Government Reform Committee, followed suit

This leads one to wonder just who does support it.

NEW Budget Tool Released

Rebecca Kleinman — Fri, 21 Nov 2008 22:32:01 +0000

For your budgeting needs, download the NEW and IMPROVED tool at: http://budgetanalysistool.com/

IMPORTANT – ALL the Important Files in One Central Place

Rebecca Kleinman — Fri, 21 Nov 2008 19:46:02 +0000

Dear Representatives and Administration Officials:

I uploaded all the files I could find that could be important for today in one central place: FOLLOW THIS LINK

(If you can’t follow the link, here’s the URL: http://www.box.net/shared/yfcnbnk2sn)

If something is missing, or you think something should be moved, please let me know.

During the Hearing, please consider Box.net if e-mail proves too slow or complicates file-sharing. Box.net is a very easy way to share files.

Thanks and Good Luck,

Rebecca Kleinman

Senior Editor, Budget Times

Wamp Speaks out for Veterans Aid – Can’t Argue With That

Rebecca Kleinman — Fri, 21 Nov 2008 07:19:21 +0000

Op-ed by Zach Wamp (R-TN

How fortunate we are to live, work and worship freely in this great nation; however, throughout history, these things have come at a high cost. Our independence is only possible because of those who came before us and died to defend it. Maintaining liberty is arduous work and there are times we must show the world that we believe in freedom enough to fight for it. This is how we preserve our way of life and hand down the mantle of freedom to each new generation.

Our nation’s Army is serving in nearly 80 countries worldwide. We owe them a debt of gratitude and must take care of our soldiers, and their families, who are making great sacrifices to defend our country. I urge members of Congress to stand up for our soldiers and their families. Let us be united behind the ideals of showing our gratitude and indebtedness to our American heroes.

At a recent House Appropriations Subcommittee on Military Construction and Veterans Affairs hearing, I heard testimony on the quality of life in the U.S. Army and details on the Army’s budget request for Fiscal Year 2009. Army Chief of Staff Gen. George W. Casey Jr. and Assistant Secretary of the Army for Installations and Environment Keith Eastin discussed the future direction of the U.S. Army at the hearing.

In his testimony, General Casey said, “The cumulative effects of 6-plus years at war have put us out of balance. The current demands on our forces exceed the sustainable supply. While we are out of balance, we are neither broken, nor hollow. But, as I think we all acknowledge, we are not where we need to be.”
This country owes a huge debt to the men and women who fought to protect it. Not only must we keep our promises of health care benefits to America’s military retirees and make it easier for veterans and service members to pay educational tuition bills, we must also renew our commitment to keeping our military strong, well-equipped, and cutting edge. Strain on our current forces makes the job of caring for future veterans harder.

Democrats would like to introduce new cuts on our current military in an act that clearly flies in the face of General Casey’s calm and definitive plea for continued support. In a time of national crisis and multiple wars, what we need is a strong commitment to keeping our current service-members safe and showing gratitude to those who have come before them.
I urge my colleagues to remember their commitment to our nation’s military and veterans during tomorrow’s deliberations.

One of the most important responsibilities we have as Members of the United States Congress is to provide the best national security we possibly can to keep Americans safe and ensure adequate support for and appreciation of our nation’s veterans. Freedom and responsibility are intertwined. The most significant demonstration of this responsibility for others has been shown by the bravery, courage and sacrifice of America’s veterans. Let us hope and pray that Members of Congress can rise to their responsibility tomorrow.

Updates from Senate: Ted Stevens (R-AL) Ousted by Democrat; Joe Lieberman (IND-CT) Remains Chairman of Homeland Security Committee

Rebecca Kleinman — Fri, 21 Nov 2008 07:08:27 +0000

Alaska Republican Sen. Stevens concedes defeat

By Yereth Rosen

Reuters
Thursday, November 20, 2008; 6:06 AM

ANCHORAGE, Alaska (Reuters) – Alaska Republican Sen. Ted Stevens, convicted last month of corruption charges, conceded defeat on Wednesday in his bid for an eighth term, a day after his Democratic opponent claimed victory.

WELT ONLINE Democrats opt not to reprimand Joe Lieberman
Los Angeles Times, CA - Nov 18, 2008
By James Oliphant Reporting from Washington, DC — Joe Lieberman, the Connecticut senator who was vilified by Democratic activists for his support of …

Ryan (R-WI) Attempts to Unify Republicans in the Face of Democratic Majority with the old Rallying Cry: Low Taxes and a Scaling Back of Entitlements

Rebecca Kleinman — Fri, 21 Nov 2008 07:05:38 +0000

Take Some Political Risk

Excerpt from Op-Ed by Paul Ryan (R-WI)

After two straight electoral defeats, it is time for a substantial party shake-up. We don’t need a feather duster; we need a fire hose.

We need to be honest about the root causes of our current financial crisis: loose money, crony capitalism and a lack of market transparency and information. We need to adopt a policy of sound money by requiring the Federal Reserve to focus exclusively on keeping inflation in check, as I’ve proposed with my Price Stability Act. Fannie Mae and Freddie Mac, whose excesses helped lead to the current mess, must be taken off the backs of taxpayers. We need a complete overhaul of our outdated financial regulatory system to emphasize market transparency and accountability.

The greatest threat to our nation’s future prosperity is the explosion of entitlement spending. Our entitlement programs are headed for a painful collapse that will bankrupt this nation and leave our children with an inferior standard of living. If we don’t tackle these problems, they will tackle us….

If It Sounds Too Good To Be True, It Probably Is

Rebecca Kleinman — Fri, 21 Nov 2008 06:59:14 +0000

Press Commentary:

Read between the lines, folks. There’s nothing humble about Alaskan Rep. Don Young’s request for drilling in Alaska. Just ask his Senate compatriot, Ted Stevens, who lost his seat yesterday to a Democrat.

Op-Ed by Don Young

As this article clearly points out, our dependence on foreign oil is creating immense instability, preventing our economy from expanding at an appropriate rate. While many have touted the benefits of alternative fuel, the fact remains that the technology and infrastructure is not in place. We need a domestic source of oil to reach energy independence now, instead of decades or centuries from now when the alternative fuel technology comes on line. ANWR is the responsible solution for our economy, our environment, and our security. Partisanship has swayed this city on a hill into accepting, without question, the logic of ignorance and pride. America is tired of this and needs real solutions now. I humbly ask for your support in this effort and take a step towards energy independence by exploring a small region of ANWR.