Budgets (page 252)

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    Still blaming the ‘Bush tax cuts’

    Three years after taking over for George W. Bush, President Obama is still trying to win political points by attacking the "Bush tax cuts" enacted during the 43rd president's first term in the White House. In an article for Human Events, Donald Lambro rebuts the president's arguments: In “the last decade, if we had simply found a way to pay for the tax cuts and the prescription drug benefit, our deficit would currently be at low historical levels in the coming years,” Obama said. Whenever Obama talks about paying for tax cuts, he means, but does not say, raising taxes on someone else. It never occurs to him, nor does he say, that the tax cuts can pay for themselves through increased economic growth and higher employment. That is exactly what President Bush’s 2003 accelerated tax cuts did in the remaining years of his presidency, a five-year period when the unemployment rate fell well below 6%, and tax revenues rose by hundreds of billions of dollars, cutting the budget deficit in half, according to government revenue and budget deficit statistics. ...
    Mitch Kokai, April 28, 2011
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    New Carolina Journal Online features

    David Bass’ latest Carolina Journal Online report highlights key elements of the N.C. House budget plan. John Hood’s Daily Journal compares the N.C. House’s budget priorities with those of Gov. Beverly Perdue.
    Mitch Kokai, April 28, 2011
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    New JLF report explains federal stimulus money for high-speed rail makes no sense for North Carolina

    Look at the situation from a budgetary, traffic congestion, or environmental perspective, and you’ll reach the same conclusion: North Carolina should reject any federal stimulus money for high-speed rail. That’s the conclusion national urban and transit policy expert Wendell Cox reaches in a new John Locke Foundation Policy Report. Joseph…
    Mitch Kokai, April 27, 2011
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    Those crazy extremists pushing for a fiscally sound budget

    An unsigned National Review brief focuses on the response to U.S. Rep. Paul Ryan‘s budget plan: The fights over the continuing resolutions to fund the government through the end of September were just skirmishes. Ryan’s budget begins a battle that will continue through the 2012 elections.
    Mitch Kokai, April 27, 2011
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    Steyn questions Congress’ willingness to push for real cuts

    In his latest “Happy Warrior” column for National Review, Mark Steyn offers some sobering data about federal fiscal problems: The government of the United States is currently borrowing about $4 billion a day. The Republicans recently secured an alleged landmark victory over Democrats that cut 38-point-something…
    Mitch Kokai, April 27, 2011
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    New Carolina Journal Online features

    Don Carrington’s latest Carolina Journal Online exclusive report dissects the misleading term “job-years,” which has been used to solicit support for federal high-speed rail funding in North Carolina. John Hood’s Daily Journal focuses on the benefits of merit-pay proposals for Charlotte-Mecklenburg Public Schools.
    Mitch Kokai, April 27, 2011
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    Ryan on reducing business uncertainty

    Once Money magazine posts items from its latest issue, you’ll have a chance to read U.S. Rep. Paul Ryan’s description of his deficit-fighting ideas. In the meantime, here’s one interesting excerpt: Should we be focused on the deficit when we’re still recovering from recession?…
    Mitch Kokai, April 26, 2011
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    Even Keynes wouldn’t have supported this

    The historian Niall Ferguson invokes the famous 20th-century British economist — whose policies tend to find favor among free-spending politicians, as Roy Cordato has explained — in a new Newsweek column: Keynes was a believer in government deficits as a short-term expedient…
    Mitch Kokai, April 25, 2011