Posts Tagged ‘deficit’

  • yacht...luxury tax..16465_11.6_000013478959XSmall

    Tax Increases: Yacht Lessons

    Mar 21, 13 • 251 Views • No Comments

    Called a fairness issue, proposed corporate jet tax increases have been described as an offset to poverty program cuts. However, supporters of the taxes might be disappointed. Some history… The Omnibus Reconciliation Budget Act of 1990 included a luxury tax...  [read more]

  • the Congress...16856_3.16_000012166514XSmall

    The Federal Budget: Sequester Déjà Vu

    Mar 1, 13 • 542 Views • No Comments

    Today’s sequester is not the first. Just like now, in 1985, cutting the deficit was popular…in theory. The question, though, was how to get legislators to do it. The answer was Gramm-Rudman (aka the Gramm-Rudman-Hollings Act or the Balanced Budget...  [read more]

  • The US is again hitting its debt ceiling.

    The Federal Budget: Sequester Facts

    Feb 28, 13 • 354 Views • No Comments

    Understanding the sequester means we have to start with the Supercommittee. Formed during 2011, the Supercommittee was the solution to the debt ceiling impasse. At the time, the Congress refused to pass a debt ceiling increase unless we had a plan to cut...  [read more]

  • The US is again hitting its debt ceiling.

    Debt Ceiling: The Trillion Dollar Coin Solution

    Jan 4, 13 • 260 Views • No Comments

    Through a hypothetical Oval Office meeting, a Yale law professor describes a platinum solution to the debt ceiling problem. The basic idea is that if Treasury can get the money to cover government spending without borrowing then it does not need to exceed...  [read more]

  • The US is again hitting its debt ceiling.

    Debt Ceiling: A Treasury Note

    Dec 28, 12 • 378 Views • No Comments

    Secretary of the Treasury Geithner just sent Senate Majority Leader Harry Reid a letter. Noting that in 5 days the US will again have hit the debt ceiling, Secretary Geithner explains that actually, we might have an extra 2 months. In an appendix to his...  [read more]