To save America from the supposedly “savage” and “draconian” budget cuts caused by sequestration, President Obama has instead asked Congress to approve an alternative fiscal package containing additional tax increases.
The U.S. Postal Service announced today that it intends to end Saturday mail delivery beginning on August 1st. According to the USPS, the move would save the government’s beleaguered mail monopoly $2 billion a year. The USPS has lost over $40 billion since 2006 and it has maxed out its $15 billion line of credit with the U.S. Treasury. With mail volume in permanent decline, the USPS has no choice but to try and cut costs.
A new article by Ivan Eland describes how wars have stimulated growth in the American welfare state. I was interested in his discussion regarding the overexpansion of pensions following the Civil War:
The federal government’s budget deficits are pushing the nation toward a fiscal meltdown, yet our leaders can’t seem to curb their zeal for infrastructure spending. President Obama has been pushing a $50 billion package for infrastructure and will likely include a similar plan in his upcoming budget. For their part, most Republicans eagerly pursue all the spending they can get for road, rail, airport, and dam projects in their districts.
If you want to cut federal spending, which has doubled under Presidents Bush and Obama, you need to eliminate some programs and agencies. At the Orange County Register – and thus on the World Wide Web – I offer some suggestions. Here are a few:
The Washington Times noted this week that the 2012 improper payment rate for unemployment insurance benefits was 11.4 percent ($10.3 billion out of $90.2 billion), according to U.S. Department of Labor data. The good news is that the figure is down from 12 percent in 2011. The bad news is that it’s still a pathetic waste of money.
It’s not quite on a par with 9/11 truthers or Obama birthers, but recently a number of liberal commentators have descended into the fever swamps of denialism by rejecting the most basic facts about our debt and deficit. Mind you, they are not arguing about the best policies to reduce the debt — taxe hikes vs. spending cuts — but actually denying that the problem exists at all.
The odds that $85 billion in “unthinkable, draconian” sequestration spending cuts will go into effect in March as scheduled are looking better. The odds must be getting better because, as if on cue, the horror stories have commenced.
Much to the horror of various interest groups, it appears that there will be a “sequester” on March 1.
Richmond Times-Dispatch columnist A. Barton Hinkle recently made what should be a simple point to understand, but it’s unfortunately one that few people seem to appreciate. Writing about the supposed win-win situation whereby states expand Medicaid coverage and the federal government foots most of the bill, Hinkle reminds readers that the “free” federal money isn’t really free: