We might have avoided a government shutdown (for now) but barring any last minute actions by Congress, we’re still on track to default on our obligations. Today, Treasury Secretary Jacob Lew sent another letter to Congress regarding the debt limit and he didn’t have good news. In the letter, he noted that while he had…
The end of the world is coming. You’ve heard, haven’t you? On January 2, 2013, two fiscal storms – tax increases and sequestration – will combine to make one terrifying, destructive economic mess that will completely decimate the country. Or something like that. I know it’s going to happen because the media says so nearly…
Two minutes isn’t a lot of time to talk about taxes. It’s even less time when you’re trying to get in zingers and tout your platform. That’s what makes debates both fun and frustrating. During the Vice Presidential debate, VP hopeful Paul Ryan referred to his tax plan but didn’t offer any specifics. There was…
You don’t grow up as a middle child without learning a few tricks of the trade. One of the most notable: if you have something to say that you know won’t go over very well, you wait until there’s a distraction. And with two brothers, there was always a distraction. This week, President Obama (who…
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…
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…
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…
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…
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…
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…