Streams

 

Budget Deficit

The Takeaway

Budget Deficit Shrinks as Consumer Confidence Grows

Thursday, May 30, 2013

The federal budget deficit is shrinking. What’s more, it’s shrinking far faster than anyone in Washington anticipated it would. That bit of information, together with a slew of other recent economic reports about the state of the housing market and consumer confidence paint a brighter picture of the economy than we’ve gotten used to seeing. Charlie Herman, WNYC Business Editor breaks down the numbers.

Comments [5]

The Takeaway

The Deficit is Shrinking, Facebook and Anti-Women Hate Speech, Mexico City and Sustainability

Thursday, May 30, 2013

Budget Deficit Shrinks as Consumer Confidence Grows | Nobel Prize Winner Mario Molina is Sounding the Alarm Again | To Binge Watch...Or Not | Facebook: "We Need to Do Better" on Anti-Women Hate Speech | Mexican Artist Pedro Reyes Transforms Firearms into Musical Instruments

The Brian Lehrer Show

Entitlement Spending and the Fall of Nations

Tuesday, May 28, 2013

Glenn Hubbard, dean of the Columbia Business School, adviser to Bush I and II, and co-author with Tim Kane, of Balance: The Economics of Great Powers from Ancient Rome to Modern America (Simon & Schuster, 2013), says economic imbalance led to the downfall of past empires and warns that a similar fate is in store for the U.S. if the political stalemate over budget deficits and entitlements continues.

Comments [34]

The Leonard Lopate Show

Joseph Stiglitz on Debt

Monday, April 29, 2013

Economist and Nobel laureate Joseph Stiglitz discusses public debt and argues that concerns over debt are crowding out the relief and recovery policies that the United States—and other nations facing debt problems—needs. Stiglitz was chairman of President Clinton's Council of Economic Advisers and served as senior vice president and chief economist at the World Bank, and his most recent book is The Price of Inequality: How Today’s Divided Society Endangers Our Future.

Comments [25]

It's A Free Country ®

Connie Mack's Plan to Balance the Budget, One Penny at a Time

Wednesday, August 24, 2011

Florida Congressman Connie Mack has a plan to save the country from its growing deficit, using nothing but pennies.

Mack, a Republican, is promoting a "one-cent solution" to balance the budget in eight years by cutting spending every year by one percent. The proposal, called the One Percent Spending Reduction Act of 2011, aims to eliminate one penny from every dollar spent by the federal government, reducing the GDP from 25 percent to 18 percent and then capping it there.

The ideas seems popular among GOP lawmakers. The Act lists thirteen co-sponsors, and at least one more, Louisiana Senator David Vitter, has announced intention to sign on once the recess is over. Several key conservative organizations have endorsed the plan, including FreedomWorks, the National Taxpayers Union and the One Cent Solution.

Comment

It's A Free Blog

Opinion: After Latest Temper Tantrum, Congress Needs Stronger Parents

Monday, July 11, 2011

How sad is it that the people the American people have sent to represent us in Congress are so out of touch with reality that they can't even come together to make big compromises when faced with big issues?

-Solomon Kleinsmith, It's A Free Country blogger.

 

Read More

Comments [2]

It's A Free Blog

Obama's Relationship to Debt Reality? Downgraded

Wednesday, April 20, 2011

What the S&P found was a president un-serious about reducing our nation's crippling debt. While Obama and his supporters seem to think his words have magical properties, the rest of us realize that they're just words, and not particularly effective words at that.

Karol Markowicz, says Obama being "out of touch with reality" on the federal debt.

Read More

Comments [2]

It's A Free Blog

The Real Ruckus over Budget's 'Cowboy Poets'? The GOP Hates Funding Art

Friday, April 15, 2011

Now that we're done chuckling at Democrats, let's really look at what the Republicans are doing here: The one-two punch of distraction and destruction, which is their signature move. This annual gathering brings 6,000 people to a town with a population of 17,000, which has enormous, positive economic impact on the city. Are Republicans against culture because it contributes economically?

-Justin Krebs on the ridiculed budget item that helps fund a Cowboy Poety festival in Nevada.

Read More

Comment

Transportation Nation

Caltrain Isn't Slashing Service – Yet

Friday, April 08, 2011

The Popular Palo Alto California Avenue Station Would See No Weekend Trains if Plan Is Approved (Photo: Caltrain)

(San Francisco – Casey Miner, KALW News) Caltrain’s Joint Powers Board voted Thursday to keep its current level of service – at least for the next two weeks. Facing a $30 million deficit, the board had debated a series of cuts that would have closed three stations indefinitely and cut 10 weekly trains, including the popular Baby Bullet service. And that was the less drastic proposal: the agency at one point threatened to cut nearly half its trains, whittling service down to peak commute hours only.

Caltrain is unique among the Bay Area's many transit agencies in that it has no dedicated funding source. But board members decided today to spend the next two weeks looking for the money to preserve service as-is. Hundreds of riders have spoken out to oppose the cuts, even hosting a weekend summit to generate ideas.

The most recent proposal was a compromise – most service retained, but in a way that would inconvenience some riders. Caltrain spokeswoman Christine Dunn said staff based its recommendations on a combination of factors including ridership at each station, proximity to other stations, and geographic equity (in other words, making service available down the whole Peninsula). Dunn said that if the plan were adopted the agency expected to sacrifice about $2 million annually in lost ridership, but that overall the cuts would save them $5.3 million – a net gain of $3.3 million.

We'll be following this as it develops; interested Caltrain riders can check out the latest proposed schedule for themselves here.

Follow Transportation Nation on Twitter.

Read More

Comment

It's A Free Blog

CBO Says Obama's Budget Estimate Off by $2.3 Trillion

Tuesday, March 22, 2011

"The $2.3 trillion discrepancy is made up of much more rosy assumptions on the part of the President's analysis... None of this is in line with the president's fiscal responsability talking points in recent months."

Read More

Comments [9]

It's A Free Country ®

New York and the New Budget

Tuesday, February 15, 2011

WNYC
It’s easy to demonize someone when they’re cutting, because it hurts. Everyone is screaming for cuts because we have to stop the spending. But they just don’t want their program cut. That’s the political nightmare, if you will, for someone who does want to stand up and do the right thing for the country.

— Congressman Michael Grimm (R-NY13) on the Brian Lehrer Show.

Comments [43]

It's A Free Blog

GOP Wants 'Deep Cuts' from Obama, but Their Proposal Doesn't Cut It

Monday, January 24, 2011

Neither party has shown any willingness to start tackling the long term deficit issues facing our country. The most recent illustration of this, spun all tightly into a well-packaged bit of public relations, is the list of proposals put forth by the Republican Budget Study Committee last week.

Read More

Comments [5]

WNYC News

Financial 411: New Year, New Governor

Monday, January 03, 2011

WNYC

Andrew Cuomo is now New York's governor and it will now be up to him to fix the state's growing fiscal crisis.  And it won't be easy. The state faces an estimated $9 billion budget deficit and a divided legislature, and, as Cuomo himself said in his inaugural speech, "The words 'government in Albany' have become a national punch line."

Comment

The Brian Lehrer Show

Progressive Deficit Reduction

Monday, December 06, 2010

Joseph Stiglitz, winner of the Nobel Prize in Economics, Columbia University professor, and author of Freefall: America, Free Markets, and the Sinking of the World Economy  joins Robert Kuttner, co-editor of The American Prospect magazine, senior fellow at Demos, and author of A Presidency in Peril: The Inside Story of Obama's Promise, Wall Street's Power, and the Struggle to Control our Economic Future  to discuss the demise of the president's deficit commission's proposal.

Comments [27]

The Brian Lehrer Show

Deficit Reduction the Domenici Way

Thursday, December 02, 2010

The National Commission on Fiscal Responsibility and Reform was created by President Obama to address the United States' fiscal challenges. Senator Pete Domenici, Senior Fellow and Co-Chair of the Debt Reduction Task Force, and Joe Minarik, Senior VP and Director of Research at the Committee for Economic Development and Former Chief Economist of the House Budget Committee, discuss the commission's plan to reduce the national deficit. 

Comments [13]

WQXR News

Ireland Releases Budget Plan to Reduce Deficit

Wednesday, November 24, 2010

Ireland has released a new budget plan, designed to save the country billions of dollars over the next four years. Details of the plan come days after the country applied for a multi-billion dollar rescue loan from the European Union and the International Monetary Fund.

Comment

The Brian Lehrer Show

Crowdsourcing Cost Cutting

Tuesday, November 23, 2010

Stephen Goldsmith, New York City's deputy mayor for operations and author of The Power of Social Innovation: How Civic Entrepreneurs Ignite Community Networks for Good, talks about the city's recent request for cost-cutting suggestions.

How do you suggest NYC can save money?

Comments [43]

WQXR News

British Government Announces Spending Cuts

Wednesday, October 20, 2010

The British government has announced a series of spending reforms designed to carry the UK through the 2015 budget year.

According to the BBC, the plan calls for some $130 billion in cuts to welfare, various governmental departments and the public sector to help fill a multi-billion-dollar budget gap within the next five years.

Comment