Posts tagged ‘Fiscally Responsible’
The Republican party of late has often been a party that says something but then does the complete opposite.
Nothing says Fiscally Responsible like a government shutdown and credit default!
Nothing says Protect the Constitution like proposing a Constitutional amendment!
Decreasing spending can be done without shutting down the government and tanking the economy. Balanced budget laws (whether or not the Federal government should be prohibited from borrowing is a different topic) can be passed without an amendment.
It’s not as though the only rules Congress has to follow are Constitutional laws.
Words have meanings. You cannot simply say you’re fiscally responsible and then completely fail to pass a resolution to fix the debt ceiling problem. The House of Representatives is a total and complete mess. The results of the mid-term elections have left the House in total disarray. This group has managed to pass only 1 bill regarding the debt problem – and they knew when they passed it that it had zero chance of getting through the Senate. Since it failed, they have sulked around and pouted instead of getting back to work.
Boehner, who has been leading this charge, has found that his “great” method of handling the debt was such a flop that within an hour of receiving a review from the CBO, it had to be re-written.
The House of Representatives is a joke. To paraphrase The Borowitz Report, the House is governing about as much as Farmville people are actually farming.
More unethical and fiscal irresponsibility representing big-business.
By JUAN A. LOZANO
AUSTIN, Texas — Former U.S. House Majority Leader Tom DeLay — once one of the most powerful and feared Republicans in Congress — was convicted Wednesday on charges he illegally funneled corporate money to Texas candidates in 2002.
Jurors deliberated for 19 hours before returning guilty verdicts against DeLay on charges of money laundering and conspiracy to commit money laundering. He faces up to life in prison on the money laundering charge.
Prosecutors said DeLay conspired with two associates, John Colyandro and Jim Ellis, to use his Texas-based PAC to send $190,000 in corporate money to an arm of the Washington-based Republican National Committee, or RNC. The RNC then sent the same amount to seven Texas House candidates. Under Texas law, corporate money can’t go directly to political campaigns.
Bush budget shows record deficit, billions in tax cuts
- Vowing to be a good steward of the public’s money, President Bush sent to Capitol Hill Monday a $2.2 trillion 2004 budget that calls for hundreds of billions in tax cuts and shows a record federal deficit of $304 billion
- The proposed military spending increase is 4.2 percent, or a $15 billion boost to $380 billion. But the budget does not provide any funding for a potential war with Iraq, which has been estimated at $60 billion or higher.
White House Predicts 2004 Deficit Of $445 Billion — the Biggest Ever
- The White House forecast yesterday that the U.S. budget deficit for this year will be a highest-ever $445 billion, lower than the administration previously predicted but nearly 20 percent larger than last year’s record shortfall.
- The Congressional Budget Office predicted on Monday that the federal budget deficit would hit a record this year and that accumulated deficits over the next decade would total $1.9 trillion.
- ‘It is becoming clear that the Bush administration has no plan to eliminate these deficits,’ said John M. Spratt Jr. (House Budget Committee).
Record ’05 Deficit Forecast
- Additional war spending this year will push the federal deficit to a record for fiscal 2005.
- Bush has pledged to cut the budget deficit in half by 2009.
- “Having racked up three of the largest deficits in history, the Bush administration is years away from reducing the deficit by half, or by any appreciable amount,” said Rep. John M. Spratt Jr. (S.C.)
- In a separate briefing, CBO Director Douglas Holtz-Eakin said tax cuts and spending enacted by Congress last year will contribute $504 billion to the government’s overall forecast debt between 2005 and 2014.
Record US trade deficit in 2006
- The US deficit jumped by 8.2% to a record $856.6 billion in 2006, official figures show.
- The rise is the fifth consecutive annual increase in the deficit.
- The deficit for 2006 meant the US was borrowing more than $2bn daily to finance its trade gap.
- The United States ran a record trade deficit in 2006 for the fifth consecutive year, the Census Bureau reported Tuesday.
U.S. trade deficit declined in 2007 after setting records for five consecutive years.
- The trade deficit with China continued to rise, jumping by 10.2 percent to $256.3 billion. That was the largest gap ever recorded with a single country, as Chinese imports surged despite a string of high-profile recalls of tainted products.
- Even with the lower overall deficit, the imbalance is still nearly double what it was in 2001, the year Mr. Bush took office.
Bush Budget Could Shoot Government Spending to $3 Trillion
- Bush’s submission is already absorbing [criticism] castigating him for inheriting a government in surplus and leaving Washington with a budget deficit that is likely to break the record set four years ago, once war bills and the cost of tax rebate checks are factored in.
- “The next president is going to inherit a colossal mess because of the fiscal irresponsibility of this president,” Sen. Kent Conrad, D-N.D., chairman of the Budget Committee said Saturday. http://www.foxnews.com/story/0,2933,327887,00.html
- President Bush will present a budget tomorrow that would slow the growth of Medicare (in the face of retiring Baby Boomers) and cut or eliminate an array of domestic programs but still anticipates a flood of new red ink that will rival the record deficits of his first term, administration officials said.
- The more than $3 trillion federal budget for 2009 that Bush will unveil is his final opportunity to shape the priorities of the government before leaving office a year from now.
- The new budget underscores Bush’s inability to get control of spending over the course of his seven-year tenure.
- Bush inherited a very large surplus, but his legacy from a fiscal point of view is having blown an opportunity to ameliorate the long-run budget deficits.
- The Consumer Confidence Index is the lowest since 1992 (Republican President).
- The S&P/Case-Shiller national home price index fell 14.1 percent in the first quarter compared with a year earlier, the lowest since 1988 (Republican President).
- Record declines in housing were recorded in 15 metro areas.
- Prices declined in 19 of 20 metro areas tracked by the Standard & Poor’s/Case-Shiller home-price index.
- The Office of Federal Housing Enterprise Oversight said home prices fell 3.1% in the first quarter, the largest drop since 1991 (Republican President) .
- Food inflation is the highest since 1990 (Republican President) .
- Diesel prices rose slightly Tuesday to a new record national average of $4.768 a gallon, according to AAA and the Oil Price Information Service.
- “If present trends continue, we could be heading for the first annual drop in gasoline consumption in some 17 years (Republican President),”
- Crude sets new record above $135.
Sources, top to bottom:
WASHINGTON – The Bush administration, moving to cope with soaring budget deficits, says it is bringing back the one-year Treasury bill that it stopped issuing seven years ago when the budget was in surplus. (7 years ago…budget surplus….Democrats…).
The Repblicans have year after year spent more money than they have in their budget. And borrowing from Commies?? These Republicans can’t say they’re “Reagan” followers – Ron would never have put us so far in debt to Communist governments and Arab dictators. (He’d still put us deeply into debt with non-communist countries, of course).
The title “Fiscally Responsible” is now awarded to the Democrats.