Ah, the Super-Committee. Remember them? To back-track, the super-committee was formed in August to cut spending as part of the infamous debt ceiling deal. They were given till November 23rd to report back with a solution, or billions in automatic budget cuts will be triggered. It’s now November 10th and we’re not any closer to finding a solution as we were [...]
We have arrived at crunch time. In 100 hours (give or take), the United States will no longer have money to pay the bills. Will the gas get shut off? Will we get harassing phone calls from China, Brazil, and Japan? No one quite knows. In an attempt to not find out, politicians in Washington, D.C., have been frantically negotiating, [...]
Many families can attest to the fact that balancing the family budget can be a struggle. It requires buying less or earning more, which is hard, but it eventually has to happen. And as muchpeople wouldn’t like to believe, just cutting out trips to the vending machine probably won’t solve the problem. The same principle is at work in our [...]
Vice President Joe Biden has been negotiating with leading congressional Republicans for weeks in an attempt to reach a deal on deficit reduction so that Congress will vote to raise the debt ceiling. The discussions have been taking place behind closed doors, so I had been holding out hope that these talks were going somewhere—anywhere. And I thought they were: [...]
In the past, opposing agricultural subsidies was anathema to any candidate seeking electoral success in the Midwest, and especially in Iowa, the home of the first caucus in the process that chooses each party’s presidential nomination. Back in 2008, Iowans were overwhelmingly in favor of ethanol and the economic benefits it brings. Accordingly, the candidates supported it, too, and the [...]
Welcoming and warning the new Congress in the new year, University President Amy Gutmann and Harvard professor Dennis Thompson recently called for increased political compromise in light of bipartisan outrage over President Barack Obama’s tax deal. According to Gutmann and Thompson, the recent retreat away from the principles of political compromise is a result of lawmakers’ permanent campaigning. They explained [...]
The national debt is now at $13.7 trillion and rising – if our government doesn’t soon start pursuing serious deficit-reduction efforts, we will suffer the consequences. And they may be dire. A fun New York Times puzzle highlights the difficulty of the budgetary challenge, and the President’s bipartisan deficit reduction committee offers some possible solutions.
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