In the history of mankind, many republics have risen, have flourished for a less or greater time, and then have fallen because their citizens lost the power of governing themselves and thereby of governing their state. TR

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Trump Abandons Fiscal Restraint Again, Raises Spending by $320B

What happened to the great dealmaker? Early in his administration, President Trump signed a spending bill that vastly increased both military and domestic spending, since the former was being held hostage by Democrats so they could get the latter. And, he felt, we needed the military spending increase after Barack Obama had depleted the military’s coffer’s. Trump said he’d never do it again. He just

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Trump Budget Doesn’t Propose Eliminating the Deficit

President Trump’s guns and butter budget, to be released Monday, doesn’t even bother to pretend to eliminate the deficit over ten years, as other budgets have, according to the Washington Post. He will call for a lot of spending cuts, some $3 trillion of them. But there are two problems here. First, Democrats are holding defense spending hostage to maintaining and increasing domestic spending levels.

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Where is the Republican Attack Machine on the Shutdown?

Democrats are always so much better at spinning their nonsense than Republicans are. They whine, attack, and rally the troops every time there’s a big battle to be fought, while Republicans think somehow people will come around to their point of view. And Democrats do it in an organized fashion guided by a well thought out, long-term plan that nevertheless seems spontaneous. Republicans focus solely

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Utterly Irresponsible

The most astonishing thing about the budget President Obama submitted today is that he is not even pretending to try to do anything about the debt and the deficit. NOT EVEN FAKING IT. Okay, he’s faking it a bit. He’s pretending the deficit won’t go up. So let’s give credit where credit is due! And credit, so to speak, is the name of the game here.

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Obama Debt: Over 8 Percent of $1 Quadrillion

The longterm U.S. debt under President Obama’s latest spending plan is far worse than his budget suggests, reaching a total of about $84 trillion – that is, 8.4 percent of a quadrillion dollars, or $0.084 quadrillion. Yes, it’s time to start using the quadrillion number, because with trillions getting added to the debt at an accelerating pace, the numbers are starting to become meaningless again

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Grandma Minnie’s Recipe for Budget Disaster

President Obama’s budget reminds me of when my grandmother got a little older and gradually stopped making the delicious delicacies she’d been churning out all her life. One day, late in her life, she served us some gefilte fish – a Jewish delicacy of thick chopped fish patties in a gelatinous sauce. It didn’t quite seem up to her usual standards. Kind of bland, this

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Are Republicans Getting Smart?

I know this is hard to believe, but Republicans may be outmaneuvering President Obama on an important issue. According to Politico, Republican leaders in upcoming weeks will be drilling into your brain that they want to balance the budget, while Democrats do not. Because its true AND it polls well, they’ve found. In a weird interlude of political honesty, Obama admitted last week he doesn’t want

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White House: No Budget for Weeks

The White House today said it will not release a budget for weeks, delaying well beyond the legal due date the publication of the president’s annual tax and spending blueprint. White House Press Deputy Press Secretary Josh Earnest, who led the daily briefing today, said the release date was “weeks ahead.” The Hill is reporting that the White House has informed Congress to expect it

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Please Don’t Expect Anything Out of Today’s Meeting

Today’s meeting at 11 am between President Obama and the Congressional leadership is one of those Washington things in which nothing gets done but which is specifically designed to tell the public that something is getting done. It’s a photo-op, and not surprisingly, photographers will be invited in to take pictures, and a couple of people will give statements. The problem is, there are too

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Why the Deficit is Worse Than We Thought

Larry Lindsey, who was George W. Bush’s initial chief economic adviser, has written a piece I thought you’d want to know about on why the deficit is so much worse than we realize. He concludes that the current negotiations are likely to yield little more than a drop in the bucket if entitlement reform is not addressed, which it probably won’t be in any serious

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White House Preaches Comity but Retains Sharp Rhetoric

The White House is rolling out a new rebuttal to the GOP proposal, authored by Rep. Paul Ryan (R-Wisc.), to cut Medicare spending by revamping the program, saying Ryan’s prescription is necessitated only by the need in the plan to pay for the extension of the Bush tax cuts for the rich. “[The Ryan plan] is driven by the need to fund these tax cuts,”

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Obama to Take Deficit Reduction Show on the Road

President Obama is doubling down on his fiscal policy speech Wednesday – widely panned, including here, as more a political than economic initiative – taking it on the road for three town hall meetings next week. One of the events will be at Facebook HQ in Palo Alto as part of what appears to be a growing alliance between the social website and the White

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