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A sign of hope in budget debate, still waiting for long-term solution

March 31, 2011 One Cent Solution

Republicans and Democrats on Capitol Hill are finally getting close to an agreement that would cut federal spending by as much as $33 billion and avoid a government shutdown, according to the Washington Post. After meeting with Senate Democratic leaders at the Capitol Wednesday evening, Vice President Biden told reporters, “We’re all working off the [...]

Taking the budget battle to Twitter

March 31, 2011 One Cent Solution

As the April 8 budget deadline draws uncomfortably close, lawmakers on both sides of the aisle are increasing efforts to streamline the conversation surrounding the federal deficit. At the forefront of the fight are House Majority Leader Eric Cantor (R-Va.) and Sen. Charles Schumer (D-N.Y.), whose Twitter feeds have the budget battle “distilled” down to [...]

Will the government close for business?

March 30, 2011 One Cent Solution

A majority of Washington budget and policy experts surveyed by The Fiscal Times said they expect a government shutdown of at least a few days after the latest stop-gap spending measure expires April 8. The list of experts can be found on page two of this article. Sixty-one percent of the Washington experts surveyed said [...]

National security and the troops

March 29, 2011 One Cent Solution

Wars have been a line item in the United States’ budget for many years, but Americans don’t realize the price tag. Regardless of your opinion on the United States’ involvement in another conflict in the Middle East, the reality is that such a decision should be made based on nation security considerations alone. The safety [...]

Americans need leadership, not a “shutdown showdown”

March 29, 2011 One Cent Solution

Legislators continue to bicker over negotiations regarding government funding and the national debt. News articles are becoming less optimistic that a deal will be reached by April 8 in order to avoid a government shutdown. What’s disappointing is that we continue to hear criticism from both Democrats and Republicans who blame one another for the [...]

U.S. finances among the worst in the world, new study finds

March 28, 2011 Bruce Cook

A new study by the Comeback America Initiative, a non-partisan organization dedicated to fostering a national discussion around fiscal challenges and solutions, offers some troubling news. It finds that out of 34 sovereign countries, the U.S. ranks 28th in financial stability. That is incredibly low, and is a warning sign for the world’s leading economy. [...]

“The merry-go-round of Congress”

March 25, 2011 Bruce Cook

We keep watching Congress go round and round on the issue of federal spending. But we haven’t seen a clear path of action take place. I’m not sure how long the government can keep this up. Are they just going to give up and start hoping for a miracle to solve the budget crisis? It [...]

We can’t ignore our nation’s fiscal crisis

March 24, 2011 One Cent Solution

Newly-elected U.S. Sen. Joe Manchin (D-W.Va.) is stumping through his state during the Congressional recess and telling his constituents that those who say the nation can have everything it wants without cuts are telling a lie, according to Kim Strassel, a columnist for The Wall Street Journal. Strassel quotes Manchin as saying, “There are some [...]

We can balance the budget without tax increases.

March 24, 2011 Bruce Cook

The lead of Ezra Klein’s Washington Post Wonkbook blog yesterday read: “New rule: If you’re not willing to consider tax increases, you’re not serious about deficits.” Sorry, Mr. Klein, but I am going to politely disagree. The One Cent Solution provides a straightforward budget balancing strategy: reduce every federal dollar spent by one cent for [...]

Americans don’t want a shutdown

March 23, 2011 One Cent Solution

As the disagreements continue between Democrats and Republicans on the best plan to balance the federal budget, Congress must pass another bill to avoid a government shutdown by April 8. It’s no surprise that eight in 10 Americans want budget compromise rather than let the federal government shut down, a CBS News poll reports. The [...]