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FederalSpending
Spending Hawks Not So Hawkish About Cuts in Home Districts
By Christopher Weber - Politics DailyLawmakers who take a hard stand against federal spending are having a hard time reconciling that position when cuts are aimed at their home districts, The New York Times reported. It's a bipartisan problem, and a good example of how tough it is to control government spending and deficits. Many so-called deficit hawks of both parties will put up a fight when money and jobs for their constituents are threatened. The Times gives three prominent examples: While Senator Saxby Chambliss, Republican of Georgia, said he was all for slowing federal spending, he has no appetite for the substantial ...
Tax Proposal Garners Fresh Criticism -- From Steve Forbes
By Matt Lewis - Politics DailyWith concerns about the budget deficit on the rise, and President Obama's approval rating on the decline, some political observers continue to predict tax increases to finance the Democrats' plans to increase federal spending. ...
Obama Calls For 'Budget Cuts' While Dramatically Increasing Spending
By Mark Impomeni - Politics DailyThe White House is touting President Obama's call for $17 billion in proposed "budget cuts" included in the details of his $3.5 trillion spending plan set to be unveiled today. But the Administration's intended claim of budgetary savings as a result crumbles under the reality of the overall spending increases that President Obama is proposing. The Administration's budget proposal calls for an eight percent increase in discretionary spending for the fiscal year beginning in October, while the cuts amount to only one half of one percent of the total federal budget.Most of the president's planned ...
Republicans Unite in Opposition to Obama Budget
By Mark Impomeni - Politics DailyThe House of Representatives passed a budget resolution yesterday which closely tracks the $3.6 trillion spending plan submitted by President Barack Obama. Later, the Senate passed a slightly smaller version of the budget, handing the White House a small political victory. But that victory was tempered by Republicans in both chambers, who united to vote unanimously against both bills. The House GOP was joined by 20 moderate Democrats in the bipartisan vote against the plan, which passed 233-198. Earlier, Democrats easily defeated the Republican alternative budget, which relied on a combination ...
Deficit Forecast Much Worse Than Administration Projections
By Mark Impomeni - Politics DailyThe Congressional Budget Office is becoming something of a thorn in the side of the Obama Administration as President Obama pushes to get his economic and federal spending plans passed by Congress. The CBO scored the Administration's $787 billion economic stimulus bill and found that it would actually result in lower economic growth than if the Administration did nothing about the economic downturn. Now the non-partisan and official Congressional budget analysis office has come out with an estimate of the federal deficits that would result from the president's $3.6 trillion budget plan if ...
Democrats Considering Second Stimulus Package
By Mark Impomeni - Politics DailyNervous Democrats on Capitol Hill are reportedly considering another huge government spending bill to try and wrest the economy out of the doldrums. House Speaker Nancy Pelosi (D-CA) said yesterday that Congress would, "keep the door open," to a second stimulus bill in two months. The Obama Administration has not called for a second stimulus package, yet. But when asked about the possibility yesterday, White House Press Secretary Robert Gibbs said, "I wouldn't foreclose on it." Perhaps an unfortunate choice of words given the state of the U.S. economy.House Approriations Committee Chairman ...
House GOP Pushes Case for Fiscal Responsibility with Call for Spending Freeze
By Mark Impomeni - Politics DailyRepublicans in the House sent a letter to House Speaker Nancy Pelosi (D-CA) yesterday calling for an across the board federal spending freeze to help rein in the ballooning federal budget deficit. The letter, signed by Minority Leader John Boehner (R-OH) and the entire GOP leadership team, says that freezing spending at last year's levels would help to get the deficit under control while avoiding cuts to vital federal programs. In a statement, Boehner emphasized that a spending freeze would answer President Obama's call for ideas to help bring fiscal responsibility back to the federal ...
Republicans Seek Turnaround in Stimulus Opposition
By Mark Impomeni - Politics DailyPolitico reports that Republicans in Congress are seeing positive signs of a resurgence for the party in public polls on President Obama's $787 billion economic stimulus plan. Twice in the last month, every Republican in the House joined a bi-partisan minority in voting against the bill, while only three relatively moderate Republicans in the Senate supported it. Republicans hope that the identity they have established in opposition to the largest federal spending bill in history will help them restore their image as the fiscally responsible party.Republicans point to a Rasmussen poll that ...
Barack Obama Prepared to Bust the Budget in Economic Rescue Attempt
By Mark Impomeni - Politics DailyFresh off the news from the Commerce Department that the nation's gross domestic product contracted by half a percent in the third quarter of the year, President-elect Barack Obama stated today that balancing the federal budget would take a back seat to his plan to increase federal spending in an attempt to shore up the flagging U.S. economy. The remark, while admirable for it's candor, may be the political understatement of the transition period, as Obama has already signaled his intent to sign a massive economic stimulus package as one of his very first official acts. Congressional Democrats ...
House Republicans Pushing 'Pro-Growth' Economic Stimulus Alternative
By Mark Impomeni - Politics DailyWhen Congressional Democrats and the incoming Obama Administration begin piecing together a promised economic stimulus plan at the beginning of next year, decreased caucuses in both the House and Senate will leave Republicans with little leverage with which to influence the contents of the package. But one tool that Republicans can use in their favor is public opinion. To that end, House Minority Leader John Boehner (R-OH) appeared on Fox News Sunday yesterday to pitch the Republicans' alternative to the massive $700 billion "economic rescue" plan currently under consideration by Democrats and ...
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