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Showing posts with label DEFICIT. Show all posts
Showing posts with label DEFICIT. Show all posts

Tuesday, November 9, 2021

RSN: FOCUS: Bernie Sanders, AOC Slam Conservative Dems Over Build Back Better Deficit Demands

 


 

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Sen. Bernie Sanders stands alongside U.S. Rep. Alexandria Ocasio-Cortez (D-NY) on Saturday, Nov. 9, 2019, at Drake University in Des Moines. (photo: Bryon Houlgrave/The Register)
FOCUS: Bernie Sanders, AOC Slam Conservative Dems Over Build Back Better Deficit Demands
Khaleda Rahman, Newsweek
Rahman writes: "Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez slammed Democratic lawmakers who held up passage of the Build Back Better Act by demanding to see analysis on how it would impact the budget deficit."

Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez slammed Democratic lawmakers who held up passage of the Build Back Better Act by demanding to see analysis on how it would impact the budget deficit.

The House passed President Joe Biden's $1.2 trillion infrastructure package with the support of 13 Republicans late Friday. Six progressive Democrats, including Ocasio-Cortez, voted against approving the bill.

It came after a deal was reached for progressives to back the infrastructure bill—which they held up for months in an effort to push moderates to back the bigger social safety and climate bill—if moderates agreed to back the Build Back Better Act after a cost estimate from the Congressional Budget Office (CBO).

The vote on the Build Back Better Act was postponed to later this month after five moderate Democrats demanded to see analysis from the CBO on the bill's long-term impacts on the budget deficit. They ultimately to agreed to back the Build Back Better Act by the week of November 15 if the CBO's estimate is consistent with the cost projected by the White House.

If the fiscal estimates on the bill raise issues, "we remain committed to working to resolve any discrepancies to pass Build Back Better legislation," Reps. Ed Case, Josh Gottheimer, Stephanie Murphy, Kathleen Rice and Kurt Schrader said in a statement.

But their stance prompted criticism from Sanders, who questioned why the lawmakers were not similarly concerned by CBO analysis showing the infrastructure bill would increase the federal deficit.

"Interesting. Conservative Dems want to make sure that Build Back Better is fully paid for at exactly the same time that they voted for an infrastructure bill that, according to the CBO, increases the federal deficit by $256 billion," Sanders tweeted on Saturday. "Not very consistent!"

NBC News reporter Sahil Kapur on Friday had noted in a tweet: "The peculiar situation Dem leaders now face: some of the same holdouts demanding a CBO score showing Build Back Better is fully paid for are also strong supporters of the infrastructure bill, which CBO says is NOT paid for and adds $256 billion to the debt."

Ocasio-Cortez shared the reporter's tweet, adding: "Welcome to 'Who's a Deficit Hawk Anyway?', where the debt concerns are made up and the CBO scores don't matter."

In a statement hailing the passage of the Infrastructure Investment and Jobs Act, Biden said the Build Back Better Act would be a "once-in-a-generation investment in our people."

He said: "It will lower bills for healthcare, child care, elder care, prescription drugs, and preschool. And middle-class families get a tax cut.

"This bill is also fiscally responsible, fully paid for, and doesn't raise the deficit. It does so by making sure the wealthiest Americans and biggest corporations begin to pay their fair share and doesn't raise taxes a single cent on anyone making less than $400,000 per year. I look forward to signing both of these bills into law."


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Saturday, October 9, 2021

DEBT CEILING & DEFICIT, COVID & DEATH TOLL

 

The hypocritical Republicans are going to force the Dems to go it alone on raising the debt ceiling, even though the vast majority of this country's debt was incurred by GOP presidents running up budget deficits, despite Democratic presidents' success in reducing those deficits. (The national debt is all those deficits accumulated, minus whatever we have paid off.)

Lyndon Baines Johnson (D)
     Assumed office November 1963: $5 billion deficit
     Left office January 1969: $3 billion surplus
     Decreased deficit by $8 billion
Richard Nixon (R)
     Assumed office January 1969: $3 billion surplus
     Left office August 1974: $6 billion deficit
     Increased deficit by $9 billion
Gerald Ford (R)
     Assumed office August 1974: $6 billion deficit
     Left office January 1977: $54 billion deficit
     Increased deficit by $48 billion
Jimmy Carter (D)
     Assumed office January 1977: $54 billion deficit
     Left office January 1981: $79 billion deficit
     Increased deficit by $25 billion
Ronald Reagan (R)
     Assumed office January 1981: $79 billion deficit
     Left office January 1989: $153 billion deficit
     Increased deficit by $74 billion
George H.W Bush (R)
     Assumed office January 1989: $153 billion deficit
     Left office January 1993: $255 billion deficit
     Increased deficit by $102 billion
Bill Clinton (D)
     Assumed office January 1993: $255 billion deficit
     Left office January 2001: $128 billion surplus
     Decreased deficit by $383 billion
George W. Bush (R)
     Assumed office January 2001: $128 billion surplus
     Left office January 2009: $1.4 trillion deficit
     Increased deficit by $1.5 trillion
Barack Obama (D)
     Assumed office January 2009: $1.4 trillion deficit
     Left office January 2017: $665 billion deficit
     Decreased deficit by $735 billion
Donald Trump (R)
     Assumed office January 2017: $665 billion deficit
     Left office January 2020: $3.7 trillion deficit
     Increased deficit by $3 trillion

So in the past 58 years, only one Democratic president, Jimmy Carter, had a larger budget deficit in his last year in office than he inherited from his predecessor. All six Republican presidents had larger deficits in their last budgets than they were handed at the start of their term.

In other words, Republicans love to spend taxpayer money like drunken sailors. And yet so many gullible voters have swallowed the GOP line that it's the Democrats who waste money, the basis for McConnell's current laughable refusal to raise the debt ceiling.

 





FROM THE BOSTON GLOBE  





Monday, October 4, 2021

NATION DEBT: Trump made a campaign promise to eliminate the national debt over 8 years.

 

Trump made a campaign promise to eliminate the national debt over 8 years.
The national debt was $20 trillion when he took office.
It was nearly $24 trillion before the pandemic began, largely due to his tax cuts for the wealthy.
It was nearly $28 trillion when Trump left office.
That's the third highest debt increase (relative to economy size) of any presidential term in history.
Now Republicans want to block a measure raising the debt ceiling, and allow America to default on its obligations, because "Republicans will not facilitate another reckless, partisan taxing and spending spree," according to Mitch McConnell.
But, and this is very important - raising the debt ceiling is necessary precisely because of the situation Republicans under Trump got us into before and during the pandemic.
It has very little to do with what Democrats may or may not spend tomorrow.
So in typical fashion, what's happening here is Republicans (again) caused the financial problem. And Republicans (again) are actively working to prevent a solution. So Republicans can blame Democrats for failing to solve a problem (again) that was caused by Republicans (FU*KING AGAIN).





Sunday, September 12, 2021

Heather Cox Richardson: September 11, 2021

 


Heather Cox Richardson
September 11, 2021 (Saturday)
On the twentieth anniversary of the day terrorists from the al-Qaeda network used four civilian airplanes as weapons against the United States, the weather was eerily similar to the bright, clear blue sky of what has come to be known as 9/11. George W. Bush, who was president on that horrific day, spoke in Pennsylvania at a memorial for the passengers of United Airlines Flight 93 who, on September 11, 2001, stormed the cockpit and brought their airplane down in a field, killing everyone on board but denying the terrorists a fourth American trophy.
Former president Bush said: “Twenty years ago, terrorists chose a random group of Americans, on a routine flight, to be collateral damage in a spectacular act of terror. The 33 passengers and 7 crew of Flight 93 could have been any group of citizens selected by fate. In a sense, they stood in for us all.” And, Bush continued, “The terrorists soon discovered that a random group of Americans is an exceptional group of people. Facing an impossible circumstance, they comforted their loved ones by phone, braced each other for action, and defeated the designs of evil.”
Recalling his experience that day, Bush talked of “the America I know.”
“On America's day of trial and grief, I saw millions of people instinctively grab for a neighbor's hand and rally to the cause of one another…. At a time when religious bigotry might have flowed freely, I saw Americans reject prejudice and embrace people of Muslim faith…. At a time when nativism could have stirred hatred and violence against people perceived as outsiders, I saw Americans reaffirm their welcome to immigrants and refugees…. At a time when some viewed the rising generation as individualistic and decadent, I saw young people embrace an ethic of service and rise to selfless action.”
Today’s commemorations of that tragic day almost a generation ago seemed to celebrate exactly what Bush did: the selfless heroism and care for others shown by those like Welles Crowther, the man in the red bandana, who helped others out of danger before succumbing himself; the airplane passengers who called their loved ones to say goodbye; neighbors; firefighters; law enforcement officers; the men and women who volunteered for military service after the attack.
That day, and our memories of it, show American democracy at its best: ordinary Americans putting in the work, even at its dirtiest and most dangerous, to take care of each other.
It is this America we commemorate today.
But even in 2001, that America was under siege by those who distrusted the same democracy today’s events commemorated. Those people, concentrated in the Republican Party, worried that permitting all Americans to have a say in their government would lead to “socialism”: minorities and women would demand government programs paid for with tax dollars collected from hardworking people—usually, white men. They wanted to slash taxes and government regulations, giving individuals the “freedom” to do as they wished.
In 1986, they had begun to talk about purifying the vote; when the Democrats in 1993 passed the so-called Motor Voter law permitting people to register to vote at certain government offices, they claimed that Democrats were buying votes. The next year, Republicans began to claim that Democrats won elections through fraud, and in 1998, the Florida legislature passed a voter ID law that led to a purge of as many as 100,000 voters from the system before the election of 2000, resulting in what the United States Commission on Civil Rights called “an extraordinarily high and inexcusable level of disenfranchisement,” particularly of African American voters.
It was that election that put George W. Bush in the White House, despite his losing the popular vote to Democrat Al Gore by more than a half a million votes.
Bush had run on the promise he would be “a uniter, not a divider,” but as soon as he took office, he advanced the worldview of those who distrusted democracy. He slashed government programs and in June pushed a $1.3 trillion cut through Congress. These measures increased the deficit without spurring the economy, and voters were beginning to sour on a presidency that had been precarious since its controversial beginnings.
On the morning of September 11, 2001, hours before the planes hit the Twin Towers, a New York Times editorial announced: “There is a whiff of panic in the air.”
And then the planes hit.
“In our grief and anger we have found our mission and our moment,” Bush said. America had seemed to drift since the Cold War had ended twelve years before, but now the country was in a new death struggle, against an even more implacable foe. To defeat the nation’s enemies, America must defend free enterprise and Christianity at all costs.
In the wake of the attacks, Bush’s popularity soared to 90 percent. He and his advisers saw that popularity as a mandate to change America, and the world, according to their own ideology. “Either you are with us, or you are with the terrorists,” he announced.
Immediately, the administration focused on strengthening business. It shored up the airline industry and, at the advice of oil industry executives, deregulated the oil industry and increased drilling. By the end of the year, Congress had appropriated more than $350 billion for the military and homeland security, but that money would not go to established state and local organizations; it would go to new federal programs run by administration loyalists. Bush’s proposed $2.13 trillion 2003 budget increased military spending by $48 billion while slashing highway funding, environmental initiatives, job training, and other domestic spending. It would throw the budget $401 billion in the red. Republicans attacked any opposition as an attack on “the homeland.”
The military response to the attacks also turned ideological quickly. As soon as he heard about the attacks, Defense Secretary Donald Rumsfeld asked his aides to see if there was enough evidence to “hit” Iraqi president Saddam Hussein as well as al-Qaeda leader Osama bin Laden. In fact, Saddam had not been involved in the attack on America: the al-Qaeda terrorists of 9/11 were from Saudi Arabia, Egypt, and the United Arab Emirates.
Rumsfeld was trying to fit the events of 911 into the worldview of the so-called neocons who had come together in 1997 to complain that President Bill Clinton’s foreign policy was “incoherent” and to demand that the U.S. take international preeminence in the wake of the Cold War. They demanded significantly increased defense spending and American-backed “regime change” in countries that did not have “political and economic freedom.” They wanted to see a world order “friendly to our security, our prosperity, and our principles.”
After 9/11, Bush launched rocket attacks on the Taliban government of Afghanistan that had provided a safe haven for al-Qaeda, successfully overthrowing it before the end of the year. But then the administration undertook to reorder the Middle East in America's image. In 2002, it announced that the U.S. would no longer simply try to contain our enemies as President Harry S. Truman had planned, or to fund their opponents as President Ronald Reagan had done, but to strike nations suspected of planning attacks on the U.S. preemptively: the so-called Bush Doctrine. In 2003, after setting up a pro-American government in Afghanistan, the administration invaded Iraq.
By 2004, the administration was so deeply entrenched in its own ideology that a senior adviser to Bush told journalist Ron Suskind that people like him—Suskind—were in “the reality-based community”: they believed people could find solutions based on their observations and careful study of discernible reality. But, the aide continued, such a worldview was obsolete. “That’s not the way the world really works anymore.… We are an empire now, and when we act, we create our own reality. And while you’re studying that reality—judiciously, as you will—we’ll act again, creating other new realities, which you can study too, and that’s how things will sort out. We’re history’s actors…and you, all of you, will be left to just study what we do.”
The 9/11 attacks enabled Republicans to tar those who questioned the administration's economic or foreign policies as un-American: either socialists or traitors making the nation vulnerable to terrorist attacks. Surely, such people should not have a voice at the polls. Republican gerrymandering and voter suppression began to shut Democratic voices out of our government, aided by a series of Supreme Court decisions. In 2010, the court opened the floodgates of corporate money into our elections to sway voters; in 2013, it gutted the 1965 Voting Rights Act; in 2021, it said that election laws that affected different groups of voters unevenly were not unconstitutional.
And now we grapple with the logical extension of that argument as a former Republican president claims he won the 2020 election because, all evidence to the contrary, Democratic votes were fraudulent.
Today, former president Bush called out the similarities between today’s domestic terrorists who attacked our Capitol to overthrow our government on January 6 and the terrorists of 9/11. “There is little cultural overlap between violent extremists abroad and violent extremists at home, “he said. “But in their disdain for pluralism, in their disregard for human life, in their determination to defile national symbols, they are children of the same foul spirit. And it is our continuing duty to confront them.”
In doing so, we can take guidance from the passengers on Flight 93, who demonstrated as profoundly as it is possible to do what confronting such an ideology means. While we cannot know for certain what happened on that plane on that fateful day, investigators believe that before the passengers of Flight 93 stormed the cockpit, throwing themselves between the terrorists and our government, and downed the plane, they all took a vote.




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