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Wall Street Journal (May 30)

2017/ 05/ 31 by jd in Global News

“Critics are accusing President Trump’s 2018 budget of ‘gutting the safety net’ with cuts to food stamps and disability insurance. In reality, the White House is proposing long-needed reforms that would fix a dysfunctional disability system that traps Americans in dependency.”

 

Los Angeles Times (March 16)

2017/ 03/ 17 by jd in Global News

With his proposed budget, President Trump “would slash education, research, foreign aid and many domestic programs to make room for one of the biggest military buildups in history.” The proposal is unlikely to gain traction. “It’s such a Draconian approach and would inflict so much pain on lawmakers’ constituents — especially in Red State America — that Congress is expected to ignore most of Trump’s proposal.”

 

Washington Post (February 8)

2015/ 02/ 09 by jd in Global News

“The central budget issue of our time” is quite simple, but overlooked. “Spending on the elderly and health care is slowly overwhelming the rest of the federal government. Spending on other vital activities (from defense to financial regulation) is being sacrificed to cover the growing costs of a graying nation.”

 

Bloomberg (October 15)

2014/ 10/ 15 by jd in Global News

Vladimir Putin is losing “his best friend: expensive oil.” Petro revenue makes up 70% of Russia’s export revenue and “oil has been the key to Putin’s grip on power since he took over from Boris Yeltsin in 2000, fueling a booming economy that grew 7 percent on average from 2000 to 2008.” To balance its budget, Russia needs a per barrel price of over $100. “At $90, close to the current level, Russia will have a shortfall of 1.2 percent of gross domestic product.”

 

Washington Post (April 23)

2014/ 04/ 25 by jd in Global News

“Budget realities require a modest approach to human space exploration and not an Apollo-style moonshot.” NASA needs to adopt a more practical approach. “Rather than attempting to send people to Mars on the cheap, there’s a compelling argument that we could accomplish more with a less expensive strategy of unmanned exploration.”

 

Los Angeles Times (January 12, 2014)

2014/ 01/ 13 by jd in Global News

“The United States no longer knows how to win wars, but it continues to start them.” From hardware to preparedness, the U.S. military remains in a league of its own. Yet, since the end of the Cold War, “when it comes to finishing the job on schedule and on budget, their performance has been woeful.” The fighting in Iraq didn’t end when the U.S. left, nor is the fighting in Afghanistan likely to cease with the scheduled departure of U.S. troops. “For the United States, victory has become a lost art.”

 

Los Angeles Times (December 22, 2013)

2013/ 12/ 23 by jd in Global News

Following previous battles, one of which recently shut down the U.S. Government, many were encouraged that both parties cooperated in Congress to smoothly pass a budget before the New Year. It would, however, be naive to assume this heralds a new spirit of bipartisan cooperation. “Next year is unlikely to get better, for one simple reason: It’s a congressional election year…. Getting Democrats and Republicans to agree on anything will be harder than ever.”

 

New York Times (July 23)

2013/ 07/ 24 by jd in Global News

“To keep commerce going with China, Japan’s most important Asian trading partner, Mr. Abe has to stop rubbing raw the wounds of World War II. That includes not visiting the Yasukuni Shrine, where war criminals from that conflict are honored. Nor should his government divert budget resources into military muscle flexing. Pushing into these politically contentious areas would erode the economic progress and promise of stable political leadership Mr. Abe has just worked so hard to achieve.”

 

Washington Post (July 9)

2012/ 07/ 10 by jd in Global News

The U.S. made a huge “blunder” in the 1960s and is still paying the price. “Since 1961, the federal government has balanced its budget only five times. Arguably, only one of these (1969) resulted from policy; the other four (1998-2001) stemmed heavily from the surging tax revenue of the then-economic boom. We are now facing the consequences of all these permissive deficits.”

 

New York Times (February 13, 2012)

2012/ 02/ 15 by jd in Global News

“The president’s budget calls for long-term deficit reduction, but its immediate priority is to encourage the fledgling economic recovery. Instead of trying to stabilize the budget on the backs of the poor, it would raise taxes on the wealthy and on big banks and eliminate many corporate tax loopholes.” Congress should pass this budget. Alas, Congress is “dysfunctional.” “The proposal will go nowhere, largely because of the Republican refusal to raise taxes on the wealthy and to spend money on vital programs.”

 

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