Showing blog posts tagged with budget
A new,
non-partisan study
by Thomas Hungerford of the non-partisan Congressional Research Service confirms that the explosion of income inequality over the past 15 years is fueled by rapidly rising income from capital gains and dividends.
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"Fix the Debt"
portrays itself
as a nonpartisan group designed to convince government to do something drastic about the national debt, which it says is a significant danger to the country. And despite widespread evidence from
economists
that their proposals would hurt the economy, Fix the Debt's members are pushing for a set of policies based on tax cuts for corporations and the wealthiest Americans and benefit cuts to lifelines like Social Security, Medicaid and Medicare.
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The president opened last week's State of the Union address, calling for "modest" changes to contain Medicare costs. One of the president's primary audiences, Congress, faces a series of deadlines in the coming months, including automatic spending cuts on March 1, expiration of the federal budget patch on March 27 and the impending debt ceiling this summer. Any one of these deadlines may force decisions about Medicare's future.
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House Speaker John Boehner (R-Ohio) continues to lead the Republican charge to the March 1 deadline, when arbitrary, across-the-board sequestration cuts in everything from mental health services to public safety kick in. In a cynical drive to wring massive concessions in cuts from Social Security, Medicare and Medicaid, Boehner and the Republicans are willing to inflict hardships on working families and bring disaster to the economy.
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It's back. No matter how many times working people reject the Bowles-Simpson "B-S" budget plan that cynically claims it would "promote economic growth "ābut would actually snuff out the recovery and cut lifelines for working familiesāit keeps coming back to the table.
Erskine Bowles and Alan Simpson released
another tired plan today
that would cut Social Security COLAs to pay for lower tax rates for corporations and the wealthiest Americans, among other things.
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Working families rallied on Capitol Hill
last week, calling on Congress not to make any benefit cuts to Social Security, Medicare and Medicaid. They also told Congress to close tax loopholes for big corporations and the wealthiest 2% and to prevent the sequester from going into effect and harming the country.
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Another Republican-
manufactured
fiscal crisis
is fast approaching and it threatens the fragile economic recovery with the automatic, acrossāthe-board sequestration budget cuts scheduled to kick in on March 1. Republicans have indicated they will block any attempt to stop the sequester unless there are benefit cuts to Social Security, Medicare and Medicaid.
But a majority of House Democrats late last week signed a House Progressive Caucus letter to President Obama opposing benefit cuts to Social Security, Medicare and Medicaid.
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