October 20, 2014

Blogs

About the economic recovery package

The House of Representatives voted today to pass an $819 billion stimulus package. Attention now turns to the Senate debate and vote, and then to reconciling the two chambers' versions.

A volunteer wonders: Will we accept the challenge put forth in I.O.U.S.A.?

Although I.O.U.S.A. was not graced with the honor of an Oscar nomination this morning, the movie's power and message is undeniable. The filmmakers did a great service to the issue of fiscal responsibility and the country's dialogue about generational stewardship. 

A Welcome Summit

Today’s Washington Post contains a very welcome front-page headline, “Obama Pledges Entitlement Reform.” The article explains that President-elect Obama plans to convene a fiscal responsibility summit in February. According to the Post story:

Nearly Half a Trillion in the Red in Just Three Months

There’s news from the Treasury Department today (monthly Treasury statement) on the federal budget deficit for the first quarter of fiscal year 2009 (i.e., 4th quarter of calendar year 2008). I guess this is what a year headed for a (way?-)more-than-a-trillion-dollars deficit looks like; AP reports:

I.O.U.S.A. on CNN This Weekend

Fresh off its appearance as one of five documentaries competing for a Critics Choice Award last night, I.O.U.S.A. will air on CNN two times this weekend.

Why Do Two Wrongs Have to Make a Political Compromise?

This week we've heard more about what's likely to be in the mix in the next economic stimulus/recovery package.  We've learned that there are more tax cuts in the picture—this despite the skepticism expressed over the past few months about how effective another round of tax cuts would be in boosting consumption, given the already-mediocre marks  many economists gave them the last time around, and the current state of American consumers, who are now less than enthusiastic about even being

Another 10 Trillion?!

The big story today is that the non-partisan Congressional Budget Office updated their baseline estimate for the federal budget's ten-year outlook. Our analysis, based on their most recent data, shows that current policy trends could add $10.295 trillion to the national debt from 2010-2019. Note that the current national debt is $10.6 trillion, so this would double that in just 10 years!

With a New Year, the World Ages

To start out the new year, I want to call attention to a recent Washington Post Op-Ed by Neil Howe and Richard Jackson, the editors of the Concord Coalition's Facing Facts Quarterly.

I.O.U.

Many of you have heard about the documentary movie I.O.U.S.A. For this blog post, I would like to borrow just the first three letters of this catchy title as I thank the wonderful Concord Coalition volunteers of the Midwest: I.O.U.

Why Health Care Costs Will Continue To Rise

Although the report doesn’t speculate on the size of the potential cost savings that could be obtained from some of the reform proposals (most of which are not terribly comprehensive or economically “bold”–although elimination of the employer-provided health care tax exclusion would surely be politically “bold”), I found the discussion on pages 118-119 of the health care chapter most interesting: