On Sunday, Defense News published a good article by Kate Brannen that looks into Mitt Romney’s plans for military spending. This is not the first examination of Romney’s lofty campaign promise to spend at least four percent of GDP on the Pentagon’s base budget. Since October 2011, when I first crunched the numbers on his plan, others have followed with their own estimates.
Downsizing Blog
Will the House Block the Farm Bill Pig-Out?
Pundits claim that partisanship is creating gridlock in Washington. But in the Senate, the two parties still know how to make bipartisan deals on big government subsidy legislation. That chamber may move ahead with a massive agriculture bill that would spend almost $1 trillion over the next decade. Supporters are calling it a “reform” bill because it would trim a measly two percent from projected spending over the period.
Jeb Bush at the House Budget Committee
Two op-eds in the Washington Post today (here and here) continue the discussion about Jeb Bush’s recent comments to the House Budget Committee. As a co-testifier with Bush, let me give you my impressions of the hearing.
Food Stamp Republicans
Newt Gingrich had fun calling President Obama the “food stamp president,” but many Republicans are just as responsible for the exploding costs of this welfare state program.
Big Sugar Wins in the Senate
Today we have yet another example of Republicans and Democrats teaming up to protect a special interest at the public’s expense. A few hours ago the Senate voted 50-46 to kill an amendment from Sen. Jeanne Shaheen (D-NH) that would have phased out subsidies and supports for the sugar industry.
Agriculture Is Doing So Well (ergo We Must Subsidize It)
Farmer-friendly members of Congress are such a target-rich environment for ridicule when it comes to poor agriculture policy that it would be a full-time job just blogging about their utterances. So I try to spare you, most of the time. (You’re welcome.) But occasionally a quote passes my desk that is so ridiculous that I just have to share.
Bipartisan Policy Center Rejects Bipartisan Budget Control Act
The Bipartisan Policy Center (BPC) has come out against bipartisan spending restraint. The BPC has issued a report highly critical of the sequestration spending cuts that were agreed to in the bipartisan Budget Control Act of 2011.
Republicans Join Democrats to Save Corporate Welfare (Again)
Rep. Tom McClintock (R-CA) introduced three amendments to the recently passed Energy & Water appropriations bill that would have eliminated a slew of business subsidies at the Department of Energy. Unfortunately, House Republicans once again teamed up with their Democratic colleagues to keep the corporate welfare spigot flowing.
Farm Subsidies and Reverse Robin Hood
Liberals love to complain about Republican support for supposedly ”reverse Robin Hood” fiscal policies. Here’s Alan Blinder and Rachel Maddow, for example, pointing the finger at Paul Ryan and Mitt Romney, respectively.
Spending Cut Goal: 10% in Two Years
The new issue of International Economy has an article by Canada’s Liberal finance minister from the 1990s, Paul Martin, who succeeded in shrinking that country’s federal government. If a new President Mitt Romney wants to cut spending in Washington, Martin has some tips for him, such as cutting spending broadly, forecasting conservatively, and aiming to eliminate the deficit in a fixed time frame and sticking to it. (I’d also advise President Obama to follow the Canadian example, but he’s issued four budgets so far and seems to be more interested in following the Greek fiscal approach).