The FY 2013 budget that the Administration will release today is, in the long run, a meaningless document in substantive terms, so I don’t want to spend that much time on it. But I was a little surprised with the pushback I received about my assessment that it reflects a shift in tone rather than policy. It’s a simple fact that the Administration has wanted a deficit deal for some time, and that this budget will build in a deficit deal. They’re going about it in a smarter way with a higher bid in the negotiations.
|By: David Dayen Monday January 9, 2012 2:10 pm|
When Bill Daley was relieved of the Chief of Staff part of the Chief of Staff job, I thought he’d just end up as an appendage, a corporate bagman. But over the past several weeks, the White House has stepped away from the corporate-friendly pose they cultivated with the Daley appointment, and Daley became far less relevant. Today he resigned to join the reelection campaign.
|By: David Dayen Tuesday September 6, 2011 12:30 pm|
The White House estimates that Hurricane Irene caused $1.5 billion in damages, virtually assuring that they will have to ask for a disaster relief supplemental sometime in the next couple months.
|By: David Dayen Wednesday July 27, 2011 6:11 am|
The CBO report on John Boehner’s debt limit plan has really set back the effort and probably poisoned the entire enterprise among the more conservative members of his caucus.
|By: David Dayen Tuesday July 26, 2011 3:30 pm|
The market may be pricing in the fact that Treasury has more cash on hand than it claims, enough to hold things together past August 2nd, past the Social Security payments on August 3rd and even past the large debt rollover on August 4th.
There’s a great deal of credibility tied up in the imprecise rendering of August 2nd as the drop-dead date. If the Administration actually has the cash to go a bit further, it will confirm the basest suspicions of the conservatives.
That’s why OMB Director Jack Lew was out there today denying that Treasury had the additional headroom.
|By: Jane Hamsher Friday July 22, 2011 7:47 am|
The headline is somewhat misleading because nobody really knows the state of the debt ceiling debate as far as I can tell. It’s unwinding in the midst of more chaos than anything I can recall on Capitol Hill. The complete leadership vacuum is stunning.
|By: David Dayen Friday February 18, 2011 1:00 pm|
Consumed by fear, Garin insists that Democrats play on the Republican’s side of the field, and try to out-cut them. The implications for real people doesn’t really matter in this game.
|By: David Dayen Wednesday December 29, 2010 1:30 pm|
The President’s 2012 budget will be delayed a week, as new OMB Director Jack Lew struggles to put things together after being confirmed late. But the still-looming fight over the 2011 budget will begin right after the State of the Union address, with Republicans in the House likely to hold out for major spending cuts.
|By: Teddy Partridge Thursday December 2, 2010 5:20 pm|
What is the sound of one hand applauding?
|By: David Dayen Thursday September 23, 2010 11:45 am|
Tom Scocca had the best reaction to the Larry Summers resignation that I’ve seen, with the best headline: “Larry Summers Is Resigning to Spend More Time With His Money.” He’s leaving the Administration with accomplishments like low-balling the stimulus and protecting the banks, to go back to Harvard, where he gambled with the college’s endowment and lost. Summers got religion and started arguing for more stimulus after blowing the first one, but he put the Administration in the position to make such policies politically impossible. From failure to failure, ever upward.