The Paul Ryan Magical Mystery Chop, Dice, and Slice Budget

  By Walter Brasch   In 2011, before he was the Republican nominee for vice-president, Rep. Paul Ryan (R-Wisc.) proposed a federal budget. He called it, “The Path to Prosperity: Restoring America’s Promise.” Two years later, now in his second year as chair of the House budget committee, he dusted off and polished his old proposal. He calls this one: “The Path to Prosperity: A Responsible Balanced Budget.” His plan is to cut the federal deficit by $4.6 trillion in four years, reducing the deficit to about $12.1 trillion. While the Republicans blame President Obama and the Democrats for wild tax-and-spend policies that led to the huge deficit, they conveniently overlook the reality that Bill Clinton left George W. Bush … Continue reading

President: My Plan Equals $4T In Deficit Reduction

President Obama says he’s offering $4 trillion in federal deficit reduction as part of his solution to avert the coming federal budget cuts known as the sequester, including more than $2.5 trillion he’s already signed into law. “I’ve laid out a plan that details how we can pay down our deficit in a way that’s balanced & responsible,” the president says via an official White House tweet. Set to kick in Friday, the sequester is a “doomsday device” enacted as part of the budget deal in 2011. The president warned in his recent State of the Union speech of dire consequences if the sequester was allowed to take effect, however. The sequester could lead to widespread layoffs and other economic woes. Democrats … Continue reading

VIDEO: Occupy Protesters To Reach Washington Tuesday

The group of Occupy Wall Street demonstrators who have been hiking toward Washington to protest potential proposed cuts to Social security and other federal safety-net programs are scheduled to reach their destination Tuesday, a day ahead of the mandated deadline for the so-called congressional supercommittee to release its recommendations to cut the federal deficit. “They’re marching to call out the congressional Super Committee, which could cut a deal before Wednesday slashing Social Security, Medicare, and Medicaid to protect tax breaks for the 1%,” says an email sent Sunday by MoveOn.org, a prominent progressive advocacy organization. “The marchers’ stories are powerful, and Congress needs to hear them before they slash programs that so many people rely on.” The supercommittee was tasked … Continue reading

Protests Planned As Anger Against Supercommittee Rises

A prominent Washington progressive organization plans national protests next week against further cuts to federal safety net programs like Social Security and Medicare. Among those speaking out against any such cuts by the so-called supercommittee is former senator Russ Feingold. MoveOn.org is organizing what it calls national demonstrations on Nov. 17, ahead of the release of recommendations to cut the federal budget deficit by the bipartisan supercommittee. “The past months have been filled with powerful, creative, and passionate displays of people fighting back against a system rigged against them,” says an email sent by Monday by MoveOn.org. “But many of our elected officials continue to sit on the sidelines—or worse, to look out only for millionaires and powerful industries. Until … Continue reading