Posts tagged as:

deficit

CBO Releases Updated Budget Outlook, Suggests Picture Improving

24 August 2011

Kids, put on some good clothes and get in the car! We’re going out to celebrate! As it turns out, the country is only $1.28 trillion short this year. The nonpartisan Congressional Budget Office released its updated Budget and Economic Outlook today (downloads as a pdf) and it’s not all that bad. Okay, it’s not [...]

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Do Americans Want to Pay Higher Taxes To Reduce Our Debt?

26 July 2011

Do Americans want to pay higher taxes to pay down our debt? It depends on who you’re listening to. Much has been made of wealthy taxpayers publicly stating that they want to pay higher taxes even as Congress is arguing that most Americans don’t want to taxes to be raised on anyone, full stop. This [...]

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Debt Ceiling? What Debt Ceiling?

11 July 2011

I’ve received a lot of emails lately asking me to explain what the debt ceiling is and what it really means. It seems that it’s a term that Congress likes to throw around without a lot of explanation. So here’s the scoop: As of August 2, the United States can’t pay its bills anymore. We [...]

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Zuckerberg May Not “Like” This on Facebook

21 April 2011

On Wednesday, President Barack Obama went all social media on us, appearing at a “town hall” style meeting at offices in Facebook. The event, which also featured Facebook CEO Mark Zuckerberg, the 19th wealthiest person in the U.S., estimated to be worth a cool $13.5 billion, was broadcast across the web as part of an [...]

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Let’s Get Fiscal: Obama Proposes Budget

16 February 2011

The deficit rag, oh yes the deficit rag! Those budget gaps can be a 12-digit drag! I’m telling you, that’s the deficit, they really made a mess of it, that’s the deficit ra-a-ag!* When I was in the seventh grade, my algebra teacher, Col. Maus, told our class that it was impossible for a person [...]

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How Green Was My Valley: Seattle Scraps Over Parking Tax

8 November 2010

Seattle, long known as one of the most bicycle-friendly cities in the US, may be facing some resistance in its efforts to green up the city a bit more. With a multimillion dollar deficit looming, Mayor Mike McGinn is threatening to pull financing for the city’s Bike Master Plan; specific projects planned for the coming [...]

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Tax Bill Still in the Senate

17 June 2010

The American Jobs and Closing Tax Loopholes Act of 2010 (also referred to as HR 4213) may need to be renamed the American Jobs and Closing Tax Loopholes Act of 2011. More than six months after its introduction, the bill is still sitting in Congress with just about a month and a half to go [...]

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Don’t be too smug, Colorado: Philly can increase taxes with the best of them…

4 March 2010

Just a week after I reported that Colorado was moving to increase taxes on its sugary drinks, Philadelphia Mayor Nutter is expected to announced a new tax on sugary drinks. Nutter plans to present his 2010-2011 budget on tomorrow. Expected to be included is a 2 cents per ounce tax on sugary drinks. That’s right: [...]

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Geithner Back Tracks on Possible Tax Increase

15 September 2009

Remember last month when Secretary of the Treasury Timothy Geithner would not rule out a tax increase for the middle class to resolve our budget woes? Well, apparently he’s changed his mind. Speaking this week, Geithner was asked the same question. This time, his answer was: “I don’t think so, no.” So there you have [...]

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California Faces Massive Deficit, Likely to Raise Taxes

20 May 2009

I’m guessing that Gov. Schwarzenegger thinks something very different when he sees this slogan these days: The thing that won’t die, in the nightmare that won’t end. It’s not the Terminator but rather, the budget. The state of California is facing a $21.3 billion shortfall. Billion. And the measures that Schwarzenegger hoped would be a [...]

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