This blog is a commentary on some of the Budget/Debt issues being greatly aggravated by the Obama Administration. Our National debt problem, severe and getting worse, is discussed with the aid of excellent analysis and data charts published by the Heritage
Foundation. The first part of the blog is contained here, but the full story is
in Powerpoint format and can be found at: …
Added by Mark Sussman on August 5, 2010 at 10:30am —
According to the National Conference of State Legislatures, Illinois ended Fiscal Year 2010 in worst financial shape than any other state in the country, with a total state debt of $120,743,392 when compiling outstanding debt, pension and OPEB UAAL's, unemployment trust funds and the 2010 budget gap as of July 2010.
How do Illinois legislators and officials propose to change the direction of this state from its deplorable and unsustainable…
Added by Nancy J. Thorner on July 19, 2011 at 1:54pm —
Governor Phil Bredesen’s tax hike proposals certainly are “creative” but they would also be harmful to both families and the economy. The Tennessean
had an article recently on the Governor’s onerous tax hike ideas.
“Although Gov. Phil Bredesen's budget proposal doesn't have… Continue
Added by John Nothdurft on April 6, 2010 at 4:00pm —
I was impressed to hear our Speaker's comments to the House Appropriations Committee on Tuesday. In relation to our looming $18 billion shortfall, he stated, "Our work on the budget will begin in an environment of uncertainty as the federal government grapples with spending and tax measures to reduce the federal debt. This makes it even more imperative that the state of Texas cover its budget shortfall without a tax increase
. Increasing taxes would restrain economic growth and… Continue
Added by Julie Drenner on May 15, 2010 at 8:00am —
The graphic below was posted on John Goodman's health policy blog and taken from USA Today. It pretty much speaks for itself.
Note: Figures for 2020 are projections based on President Obama’s budget.
Sources: White House Office of Management and Budget;…
Added by Nick Kaster on April 19, 2010 at 7:23pm —
I had the opportunity to interview Minnesota Gov. Tim Pawlenty last week, an interview you can listen to here.
The Governor discussed how states can respond to the passage of Obamacare, his decision to opt out of the federal high-risk pools, and how Americans can shift a polarized Washington political scene back toward common sense values. Pawlenty's response to the passage of President Obama's… Continue
Added by Benjamin Domenech on June 2, 2010 at 9:03am —
Texas State Representative Ken Paxton (R-McKinney) has launched TexasBudgetBusters.com to expose the wasteful spending in Texas’ budget and to offer solutions for promoting government transparency and efficiency.
Added by Julie Drenner on June 16, 2010 at 5:30pm —
Governor Jennifer Granholm’s annual budget unveiling over the years has become about as enjoyable as banging one’s head against a concrete wall. Her approach of staying the course from years past will further hurt the state’s fiscal position and economy. Facing a $1.7 billion budget deficit she has proposed a mish-mash of tax hikes, tax swaps, and “fees,” while offering few if any actual reforms to rein in spending.
Michigan will continue to face record high unemployment… Continue
Added by John Nothdurft on March 30, 2010 at 11:31am —
Alan Essig, the executive director of the Liberal Georgia Budget & Policy Institute outlines his approach to fixing Georgia’s budget deficit in… Continue
Added by John Nothdurft on April 1, 2010 at 11:30am —
I saw Cato's ad
(pdf) on the back page of Section A of the LA Times on Friday, September 18. It probably ran in many other major markets. In it they call for Obama to make good on his pledge to go through the budget line by line and cut needless spending. While recognizing that the problem is bipartisan in origin, they have identified $500 billion that can be trimmed. Of course, some of this either will never fly (e.g. Farm Subsidies,… Continue
Added by Marcotte Anderson on September 17, 2010 at 4:00pm —
I mentioned a few days ago that Gov. Chris Christie of New Jersey correctly identified the source of the voter's anger in that state, ran on it, managed to get elected and now is in the middle of a very interesting and effective campaign to reign in government and government spending. I also mentioned that he'd probably get only as far as the public was willing to tolerate cuts to services.
Well, so far, it… Continue
Added by Bruce McQuain on April 21, 2010 at 10:05am —
The conservative/libertarian right has won the tax battle. In fact, they have been so successful in winning that battle that they keep fighting it. In the meantime, they have failed to wage the war on spending, and therefore risk potentially losing the entire war.
Gas tax? No!, Income tax increase? Certainly NOT!. A tax on soft drinks? Pepsi Forbid!!
In the meantime, the left has utilized the nearly 30 years of economic boom, coupled with State… Continue
Added by Bruno Behrend on March 29, 2010 at 9:30am —
Surely you've heard about Robert Rizzo, the former city manager of the relatively impoverished city of Bell in Southern California? Rizzo is, in all likelihood, relaxing on his horse farm in Washington State. But even if we can't confront Rizzo directly, we can figure out what his tenure represents
. Is anyone really surprised?
Added by Ben Boychuk on August 11, 2010 at 2:41am —
With this nation's dramatic increase in the federal deficit, which will rise to 8.3 percent of gross domestic product by 2020, and which is exclusively the result of higher spending, not lower revenues, rapidly increasing entitlement spending will be the cause of nearly 100 percent of this nation's rising long-term deficits.
Britain's new coalition government has unveiled the nation's most painful budget in a generation aimed at ending the deficit in 6 years.
It would be… Continue
Added by Nancy J. Thorner on June 23, 2010 at 11:22am —
By Alan Caruba
“Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.” So said…
Added by Alan Caruba on August 18, 2010 at 5:00pm —
Part one: "Quinn's misguided Budget Address, a missed opportunity
Last Wednesday, February 22, Governor Pat Quinn presented his fourth budget address.
What happened to Quinn's plan leading up to his speech when he claimed that spending would be rolled… Continue
Added by Nancy J. Thorner on March 1, 2012 at 10:48am —
Added by chris graviss on June 30, 2010 at 11:17am —
George Will has a great column today about how New Jersey Gov. Chris Christie is making difficult budget-cutting decisions that are drawing a lot of heat from government employee unions:
He inherited a $2.2 billion deficit, and next year's projected…
Added by Paul Chesser on April 22, 2010 at 3:26pm —
*Noted on the Illinois Policy website on Tuesday, August 28, was that The Heartland Institute was hosting an event featuring Sheila A. Weinberg and "The Financial State of the States" on Wednesday, August 29, at 11:30 a.m.
Added by Nancy J. Thorner on August 28, 2012 at 3:24pm —
By Nancy Thorner -
Friday, March 1, came and went, despite a steady drumbeat of drastic warnings about the impact of the sequester on jobs and economic growth. Even the financial markets reacted with a yawn…
Added by Nancy J. Thorner on March 2, 2013 at 2:48pm —