Archive for the ‘Republican party’ Category
Republicans have a plan to force lower spending without risking default
May 18th 2013 | WASHINGTON, DC |From the print edition
[Greg Ip] AUSTERITY may be weighing on America’s economy, but it has its consolations. On May 14th, the Congressional Budget Office sharply revised down its estimate of the budget deficit this fiscal year, to $642 billion or just 4% of GDP, from 5.3% in February. That would put it at less than half its recent peak of 10.1% in 2009. Read the rest of this entry »
Congress finally restarts the budget process but the gaps are daunting
Mar 16th 2013 | WASHINGTON, DC |From the print edition
[Greg Ip] WHEN Congress sought to claw back fiscal authority from Richard Nixon in the early 1970s, it came up with its own budget process. The House of Representatives and the Senate would draw up separate budget resolutions and, through negotiation, turn them into a single budget.
In recent years that process has, more often than not, broken down. In six of the past 11 years, the House and Senate could not agree on a budget, and in the last three, the Democratic-controlled Senate did not even pass its own resolution. Instead, Congress has resorted to stand-alone spending bills, temporary fixes and behind-the-scenes deals with the White House.
Read the rest of this entry »
Nov 8th 2012, 23:33 by G.I. | WASHINGTON, D.C.
This post has been updated.
PRESIDENTS choose their words carefully. So when Barack Obama talked of “tax reform” but not “tax rates” in his acceptance speech early Wednesday, he was presumably sending a signal. And it was similarly significant that later that day John Boehner repeatedly stated his opposition to higher tax “rates” rather than tax revenue.
Within those two statements lies the nucleus of a deal: raising tax revenue through some means other than higher tax rates. Read the rest of this entry »
The probable Republican nominee should stop pandering to the left on China and to the right on taxes
Apr 21st 2012 | from the print edition
TO UNDERSTAND why Mitt Romney has triumphed over his rivals for the Republican presidential nomination, look no further than March’s disappointing job numbers. With growth fragile and petrol prices soaring, the economy is Barack Obama’s gaping weak spot, and Republican primary voters have backed the candidate best equipped to exploit it.
Yet it is very far from clear what they are getting. Blame that, in part, on a nominating contest that repeatedly veered into irrelevancies. But blame the candidate, too. In the past year Mr Romney’s views have metamorphosed worryingly as he has tried to protect his flank against a succession of conservative challengers. It is no exaggeration to say that there are now two Romneys when it comes to economics (see article).
America’s rich should pay more, but there is no need to raise their income-tax rates
Jan 21st 2012 | from the print edition
The “tea party” loses a fight over economic stimulus
Dec 31st 2011 | WASHINGTON, DC | from the print edition