ense discretionary spending cuts were enacted to be phased in over the coming decade. Do not, however, let these large numbers lead you to the belief that our budget problems are anywhere near solved. The Congressional Budget Office projected in 2011 a ten-year budget shortfall of $13 trillion dollars—that is, $13 trillion dollars will be added to the United States’ public debt between 2011 and 2021. In this light, the budget changes so far enact...
Alex Angert Mike Bloomberg is breaking down walls at City Hall. Literally. With no walls to separate the rows of desks lining the room, the atmosphere resembles a frenetic, high-energy trading floor more than a government office. Bloomberg’s desk—the command center for the operation—sits directly in the middle of the room, right in the heart of the action. Bloomberg lifted the concept of the “bullpen environment” directly from his company, Bloo...
has failed to make a deal, further defense cuts will kick in starting in 2013. These automatic sequestrations will range anywhere from a few hundred billion to nearly $1 trillion over the next decade. The Congressional Budget Office predicts that the regular defense budget will be cut by an additional $450 billion between 2013 and 2021 (or from 3.4 percent of GDP to 2.7 percent or less). And if cuts are made across the board, the Navy would shrin...
Just under two years ago, a young Democratic president took office after leading his party to majorities in both chambers of Congress, reshaping the political landscape after a period of conservative dominance. After enduring bruising legislative battles on top priorities like comprehensive health care reform, the Democrats stand to lose both the House and the Senate, and a new generation of Republicans is waiting to deliver on a much-hyped mani...
ay. Many attribute the low turnout to the fact that few of the primaries are going to be closely contested races. Others argue that political primaries, where the voters are not determining candidates to run for the executive office, always draw small crowds. Previous non-presidential elections years, where there have been reasonable turnouts, would prove this theory wrong. Could it be that people do not believe in the importance of local or cong...
the lessons that have been learned thus far could prove useful to the United States. Numerous reports have found that the U.S. could face serious budget trouble in the coming years. The United States Government Accountability Office (GAO) said in January 2010 that “no one can say with certainty what the next 75-years will bring, but simulations by GAO, the Office of Management and Budget, Congressional Budget Office and others, all show an unsust...
.... One easy fix would be to collect the roughly $150 million in delinquent property taxes owed to the city. If the city does insist on cuts to education, though, why not start with some of the waste within the superintendent’s office itself, or some of the funds paid to education reform consultants and lobbyists? Drastic cuts that will mostly affect students and teachers hardly seem the only solution for a budget crisis that was not of their makin...
After the most recent Federal Election Commission (FEC) filings showed an increase in spending by former New York Congressman Anthony Weiner’s campaign committee, journalists and political pundits began speculating about Weiner’s chances of success should he run for city-wide office in 2013. Anthony Weiner, after serving in Congress for twelve years, resigned in January of 2011 after admitting to using Twitter to share sexually suggestive pict...
get put forth by Democratic leadership. Additionally, the Congressional Black Caucus’ budget—the only one put forth by a minority caucus—sought to reduce the deficit by more than either the Ryan plan or the one offered by the Office of Budget and Management. On top of that, the Ryan budget is bad news—unless you make more than a million dollars, because then you’ll get a 12.5 percent tax cut, compared to a 0.2 percent tax cut for those with an an...
In early 2009, concerns about the rising private and national debt levels in Europe moved some policymakers to start talking about belt tightening and tax hikes as ways to reign in budget deficits and tackle monstrous debts. Now, nearly three years and various bailouts later, the European debt crisis is far from over and national budget deficits are very far from under control. As 2013 approaches we are seeing both the true extent of the Europe...
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