While pinning down an exact number is difficult, especially as the target list is expanding, there are some initial projections on the potential costs of President Obama’s attack on Syria. The Congressional Research Service analysis puts the cost as high as $12 billion for a year’s operation citing estimates by General Dempsey, chair of the Joint Chiefs of Staff.
|By: DSWright Tuesday March 12, 2013 8:30 am|
House Budget Committee Chairman Paul Ryan wrote an Op-Ed for the Wall Street Journal extolling the virtues of austerity while claiming anyone who disagreed with his plan to destroy Medicare was, ironically, going to destroy Medicare. While blaming Senate Democrats for the Sequester because they did not pass a budget Rep. Ryan offered a Greece style austerity budget while claiming to oppose austerity.
|By: DSWright Monday March 4, 2013 7:48 am|
Last Friday President Obama signed the sequester order officially launching America’s latest austerity program. Austerity has yet to produce jobs or growth in any country it has been tried in. In fact, austerity is becoming one of the few certainties within economic policy making – the certainty of losing growth if the policy is adopted. And now we get to learn the lesson everyone else now knows the hard way.
But even in the “across the board” cutting program it seems the poor are going to get the worst of it.
|By: E. F. Beall Sunday March 3, 2013 6:45 pm|
After duly referencing
Robert Redford Bob Woodward’s version of this charge offered the other day, M&O say it’s too simple. They claim that the idea emerged through 2011 negotiations between “the parties,” who proposed a super-committee to iron out a deficit-reduction plan, and a sequester as something “designed to be so potentially destructive that the supercommittee would surely reach a deal to avert it.” They say that O never envisaged the possibility that it would actually happen.
|By: Jon Walker Thursday February 28, 2013 11:30 am|
As far as I can tell this is the entirety of the President Obama’s strategy when it comes to the sequester. The administration seems to be banking on the fact that once the sequester starts it will do real destruction to the economy. This destruction will get the public up in arms. That in turn will make the Republicans fold.
This strategy though is predicated on three very big ifs.
|By: DSWright Thursday February 28, 2013 7:50 am|
Tomorrow budget sequestration begins. The “unthinkable” gun-put-to-head law that Congress passed to force itself to compromise has, not surprisingly, not lea to compromise. Instead it has led to the gun going off and now a weak American economy will face austerity cuts, a program that has led to further weakness in every economy it has been tried in.
|By: DSWright Friday February 22, 2013 6:43 am|
We are now a week away from the “sequester” another round of austerity cuts. Cuts that will take place despite the overwhelming evidence that all austerity programs do is make a bad situation worse. Even the IMF, bastion of Neoliberalism, has revised itself and said austerity was actually a bad idea reporting that economists underestimated the euro-for-euro effect of cutting government budgets. While the initial expectation was that cutting a euro from the budget would cost around 50 cents in lost growth, the actual effect was closer to 1.50 per euro. Big miss.
|By: Jon Walker Thursday February 21, 2013 7:32 am|
If the sequestration cuts go into effect on March 1st, as currently seems likely, most would blame the Republicans according to a new Pew Research poll. It found that 49 percent would blame Congressional Republicans if the sequester happens and only 31 percent would blame Obama.
|By: Jon Walker Wednesday February 20, 2013 1:40 pm|
The sequester was created in the most bipartisan way possible. It was a proposal from a Democratic President to find a way around an impasse with House Republicans that both sides each believed would eventually advance their long-term agendas. It was approved by a Republican House, a Democratic Senate and signed by a Democratic President. As a result, everyone will agree this is a truly horrible policy that will needlessly hurt the country, but no one responsible for it will probably ever pay a political price.
|By: Jon Walker Tuesday February 19, 2013 5:06 pm|
Earlier today President Obama made a public plea for Republicans to embrace either a long-term or short-term “balanced approach” to avoid the sequestration cuts. Speaker Boehner’s response made it clear the House Republicans are not interested in any possible compromise.