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Deal Cost

Just for the record: the Congressional Budget Office our official and non-partisan score keeper on all matters to do with the budget, has ‘scored’ the deal struck yesterday. It will increase the Federal deficit by a little under $4 trillion over the next decade. The CBO is constrained to score legislation and its effects by […]

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Big Little Deal

It is hard to get excited over a deal being struck to avert a crisis that was entirely artificial. The Senate passed a ‘fiscal-cliff’ averting piece of legislation by a surprisingly wide 89 – 8 margin and so has managed to pass the buck to the House where, as yet, not vote has been scheduled. […]

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Last Minute Cliff Notes

In short: The US does not have a budget deficit problem. The current deficit is directly a result of the collapse of the economy. It is cyclical not structural. Thus we have a growth problem. Return our economy to growth and the budget gap substantially disappears. Further, our cycles are becoming more exaggerated because of […]

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