Tag: budget control

The Sequester from a business prespective

With the Dow Jones hitting all-time highs, I thought that it would be instructive to see what Wall Street thought about the sequester. A few thoughts from Goldman Sachs: In 2011, Congress passed and the President signed the Budget Control Act, which raised the debt limit by $2.1 trillion and cut $2.1 trillion from projected spending over the following ten years. Caps on discretionary spending levels were estimated to reduce spending by $900bn compared with baseline projections that assumed spending would growth with inflation. The remainder of the savings was to be achieved by the congressional “super committee.” To motivate the

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The Sequester

Yesterday, our lawmakers allowed us the privilege of $85 billion worth of spending cuts. Republicans promise that this will help put the United States back on solid fiscal footing. I don’t see it that way. The sequester looks to me like a lot of pain without much, if any, gain. From CBPP: The recession battered the budget, driving down tax revenues and swelling outlays for unemployment insurance, food stamps, and other safety net programs.[3] We calculate that changes in the economic outlook since the summer of 2008 account for over $400 billion of the deficit in both 2009 and 2010 and

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My thoughts for a Monday Evening

I have been watching Monday Night Football, but it’s almost as exciting as watching paint dry. I’m turning off the TV. Neither team is really playing professional football. It is extremely disappointing to see that the Department of Health and Human Services was unable to figure out a formula to get the Community Living Assistance Services and Supports system up and running. Americans need something to help us in old age. Currently long-term care is extremely expensive. There are absolutely no affordable insurance policies. Currently, if you’re poor or if you’re middle class, long-term care is simply out of your reach.

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ABOUT AUTHOR
Errington C. Thompson, MD

Dr. Thompson is a surgeon, scholar, full-time sports fan and part-time political activist. He is active in a number of community projects and initiatives. Through medicine, he strives to improve the physical health of all he treats.

Books

A Letter to America

The Thirteeneth Juror

Where is The Outrage Topics
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