Group items tagged

With my five-year budget, millions of jobs would be created by cutting the corporate income tax in half, by creating a flat personal income tax of 17%, and by cutting the regulations that are strangling American businesses.

America has much greatness left in her. We will begin to thrive again when we begin to believe in ourselves again, when we regain our respect for our founding documents, when we balance our budget, when we understand that capitalism and free markets and free individuals are what creates our nation’s prosperity.

If, like most Americans, you prefer to cut what Secretary of Defense Chuck Hagel has called the "bloated" Pentagon budget instead of cutting Social Security and veterans' benefits, you have even more reason to rejoice. Because at this political juncture, everyone in America who says "no cuts to Social Security or veterans' benefits" is effectively saying "cut the bloated Pentagon budget," whether they do so explicitly or not. If the "grand bargain" is killed and Social Security and veterans' benefits are spared - apparently these are all the same political event - then the Pentagon budget will be cut instead. And that means that at long last, we're effectively having the "guns vs. butter" debate in the United States that we have been so long denied. And that's not all. We have a new way to talk about the Pentagon budget, that every American can easily grasp. We can talk about the Pentagon budget by using the President's proposed cuts to Social Security and veterans' benefits as the unit of measurement.

According to the Congressional Budget Office, the President's proposal to use the "chained CPI" to calculate cost of living increases would save the government $127 billion over ten years by cutting Social Security and $36 billion over ten years by cutting "programs affecting veterans and the poorest elderly and disabled." That's a grand total of $163 billion over ten years from hitting seniors, veterans, and the disabled. So, now we have a new unit of measurement for talking about the Pentagon budget. Anything in the Pentagon budget that costs $163 billion over ten years costs as much as President Obama proposes to save by hitting seniors, veterans, and the disabled. Let us consider just three examples.

The key takeaway from all these numbers is that compared to the bloated Pentagon budget, the proposed savings from whacking seniors, veterans, and the disabled are chump change, not worth bothering with. The crucial thing to remember in all this is that none of us needs to come up with a specific plan to replace cuts to Social Security and veterans benefits with Pentagon cuts. Cutting the Pentagon budget instead - the sequester - is the default option, the status quo. All we have to do if we prefer Pentagon cuts to cuts in Social Security and veterans benefits is to kill the grand bargain. The Pentagon can then propose what mix of ending the war in Afghanistan, buying fewer or cheaper fighter planes, cutting contracting, closing foreign military bases, and retiring expensive generals it prefers to stay within its new budget. And then we can decide if we're ok with that, or prefer something else.

While some measure of stability has returned to pockets of northern Syria following the Syrian Army’s recent liberation of al-Qaeda from Aleppo and elsewhere, external forces seem determined to keep the region volatile, regardless of the cost. In the latest example of aggressive foreign intervention in Syria, Turkey, which has long played an antagonistic role in Syria’s nearly six-year-long conflict, has now cut off the flow of the Euphrates River into Syria, depriving the nation of one of its primary sources of water. According to the Kurdish Hawar News Agency, Turkey cut water supplies to Syria around Feb. 23, which subsequently forced a hydroelectric plant at the Tishrin Dam to shut down while also significantly reducing water levels on its associated reservoir. The dam supplies both water and power to key parts of northern Syria, such as the city of Manbij and other parts of the predominantly Kurdish Kobani Canton. The dam is one of several major dams along the Euphrates River. Just downstream from Tishrin lies the Tabqa Dam and its reservoir Lake Assad, which supplies Aleppo with most of its power and drinking water, as well as irrigation water for over 640,000 hectares (2,500 square miles) of farmland. A city official in Manbij told Hawar that the city would provide generator fuel to civilians to help cope with the blackout that has resulted from the river being cut off. The same official added that Turkey had “violated the international conventions of water and rivers energy by cutting off Euphrates water.”

This is not the first time Turkey has deprived Syrians of water as a means to advance their political goals in the region. Turkey previously cut the river off in May of 2014, causing water levels on Lake Assad to drop by over 20 feet and creating the potential for genocide by means of dehydration. By blocking the river, Turkey threatens Iraqi civilians as well. Major urban centers like Mosul, whose water supplies largely depend on reservoirs fed by the Euphrates, could be gravely impacted if the river continues to be blocked.

The act of cutting off the river is not unprecedented, but its timing is peculiar. Just days prior to Turkey’s act, U.S. Senator John McCain “secretly” visited the Kobani Canton, the very region that now finds itself without water, before heading to Turkey, where he met with Turkish President Recep Tayyip Erdogan.  According to the senator’s office, “Senator McCain’s visit was a valuable opportunity to assess dynamic conditions on the ground in Syria and Iraq.” It adds that McCain looks forward to working with the Trump administration and military leaders “to optimize our approach” on fighting the Islamic State. While the U.S. has backed the Kurds in their fight to keep their territories along the Syrian-Turkish border free of terrorist influence, it has come at the cost of greatly complicating diplomatic relations between the U.S. and Turkey.  For example, in early 2016, Erdogan dramatically demanded that the U.S. choose between an alliance with Turkey or with the Syrian Kurds. The diplomatic stand-off has since reached new heights of tension, with Turkey threatening to invade Kurdish-held Manbij less than two weeks ago. Manbij is suffering the most from Turkey’s blockage of the Euphrates, suggesting that the move could be intended to destabilize the Kurds before something more drastic takes place.

OPEC Gulf oil producers will not propose an output cut on Thursday, reducing the likelihood of joint action by OPEC to prop up prices that have sunk by a third since June. "The GCC reached a consensus," Saudi Arabian Oil MinisterAli al-Naimi told reporters, referring to the Gulf Cooperation Council which includes Saudi Arabia, Kuwait, Qatar and the United Arab Emirates. "We are very confident that OPEC will have a unified position.""The power of convincing will prevail tomorrow ... I am confident that OPEC is capable of taking a very unified position," Naimi added.

A Gulf OPEC delegate told Reuters the GCC had reached a consensus not to cut oil output. Three OPEC delegates separately told Reuters they believed OPEC was unlikely to take any action when the 12-member organisation meets on Thursday after Russia said it would not cut output in tandem.The OPEC meeting will be one of its most crucial in recent years, with oil having tumbled to below $78 a barrel due to the U.S. shale boom and slower economic growth in China and Europe.Cutting output unilaterally would effectively mean for OPEC, which accounts for a third of global oil output, a further loss of market share to North American shale oil producers.

If OPEC decided against cutting and rolled over existing output levels on Thursday, that would effectively mean a price war that the Saudis and other Gulf producers could withstand due to their large foreign-exchange reserves. Other members, such as Venezuela or Iran, would find it much more difficult.

More important, transparency is a good thing. If enrollees don’t want to pay the full cost of Obamacare coverage, that tells us something very important about Obamacare. It means nobody likes the way Obamacare actually works. Forcing the IRS to implement the law as written will thus create an opportunity for real health care reforms that actually reduce the cost of care. Reining in the IRS would affirm the rule of law, and lead to real health care reform. We should all hope for such an outcome.

As U.S. President Donald Trump ramps up his attack on immigration, his executive order to cut federal funding to so-called “sanctuary cities” protecting immigrants could face a number of legal and logistical loopholes.

The executive order signed on Wednesday orders federal agencies to withhold grant money from around 300 cities and counties that block local law enforcement from targeting undocumented immigrants, or as White House Press Secretary Sean Spice put it, “harbor illegal immigrants.” Spicer said that Trump will look at means to strip funding to cities and counties that “willfully refuse to comply” with his new plan to crack down on immigration, which also included ordering the construction of the infamous border wall between Mexico and the U.S. and increasing immigration authorities' power to deport people from the U.S., often without due process. These measures have sparked outrage among many immigrant rights organizations and caused city mayors to speak out against them. Opponents likely have the law on their side. Politico reported that the White House failed to consult the proper federal agencies and lawmakers before signing the executive orders. This means the orders are likely fraught with contradictions to current laws that can be easily exploited by opponents to dismantle them. The legal fight has already begun. Mayors of targeted cities are teaming up with immigration advocacy groups and attorneys to gear up for a legal battle against the presidential orders. Opponents of Trump’s order say that federal money allocated to cities can only be cut if the funding is directly linked to behavior that opposes the federal government’s plan for immigration.

“The president has very limited power to exercise any kind of significant defunding,” Peter L. Markowitz from the Immigration Justice Clinic told The New York Times. Referring to a 2012 Supreme Court ruling, Markowitz argued that Congress cannot coerce states or localities to unwillfully participate in federal programs. “You can’t say ‘if you don’t use your police officers to go after unauthorized immigrants, you don’t get any money for your hospitals.’ They can’t impose conditions that are totally unrelated,” Markowitz said.

First among the recommendations of S&P 500, it expects the US government to get the federal debt down to around 60 percent or 65 percent of GDP, which has been historically around 40 percent.

. Its concerns were divided into two categories. First, the Americans are growing old and the cons

Currently, t

Paul isn't going to cut the military. He's going to cut the Militarism. That's why Paul gets more political contributions from active duty military personnel than all the other candidates COMBINED.

here is the actual plan. Looks pretty good: External Link 

Russia cut gas exports to Europe by 60 per cent today, plunging the continent into an energy crisis 'within hours' as a dispute with Ukraine escalated. This morning, gas companies in Ukraine said that Russia had completely cut off their supply.Six countries reported a complete shut-off of Russian gas shipped via Ukraine today, in a sharp escalation of a struggle over energy that threatens Europe as winter sets in.Bulgaria, Greece, Macedonia, Romania, Croatia and Turkey all reported a halt in gas shipments from Russia through Ukraine. Croatia said it was temporarily reducing supplies to industrial customers while Bulgaria said it had enough gas for only 'for a few days' and was in a 'crisis situation'.

Russia cut gas exports to Europe by 60 per cent today, plunging the continent into an energy crisis 'within hours' as a dispute with Ukraine escalated. This morning, gas companies in Ukraine said that Russia had completely cut off their supply.Six countries reported a complete shut-off of Russian gas shipped via Ukraine today, in a sharp escalation of a struggle over energy that threatens Europe as winter sets in.Bulgaria, Greece, Macedonia, Romania, Croatia and Turkey all reported a halt in gas shipments from Russia through Ukraine. Croatia said it was temporarily reducing supplies to industrial customers while Bulgaria said it had enough gas for only 'for a few days' and was in a 'crisis situation'.

The dispute, coupled with Israel's military operation in Gaza, also pushed oil up to a three-week high of $49.91 in New York yesterday. Russia, whose main export is oil, stands to benefit from a recovery in prices. 'Without prior warning and in clear contradiction with the reassurances given by the highest Russian and Ukrainian authorities to the European Union, gas supplies to some EU member states have been substantially cut,' the EU said in a statement.'The Czech EU Presidency and the European Commission demand that gas supplies be restored immediately to the EU and that the two parties resume negotiations at once with a view to a definitive settlement of their bilateral commercial dispute,' the presidency and the Commission said in a joint statement.They added that the EU would 'intensify the dialogue with both parties so that they can reach an agreement swiftly'.

Despite the Trump administration’s “maximum pressure” campaign targeting the Iranian economy, Iran’s crude oil and oil product revenues jumped a surprising 60 percent from March 21 to July 23. In addition, figures provided by Iran’s Central Bank show that Iran’s revenues from oil sales soared by 84.2 percent over that same period, setting a new record. The increased revenues seem to have resulted from a jump in oil prices this year as well as Iran’s high oil export volume during part of that period. Notably, the increased revenues were reported despite the United States’ announcement in May that it would sanction those purchasing Iranian oil starting in early November, with the ultimate goal of reducing Iranian oil sales to zero in order to place pressure on the Iranian government

Further dashing U.S. hopes of crushing Iranian oil exports have been recent announcements from Iran’s top two customers, China and India, that they would continue to import Iranian crude despite the looming threat of U.S. sanctions. India, along with some other countries, has sought “waivers” from Washington that would allow them to continue to import Iranian oil and avoid retaliation from the U.S. for a certain period of time. In addition, the European Union, which had previously joined the U.S. in targeting Iranian oil exports in 2012, has shown its unwillingness to follow Washington’s lead this time around, openly vowing to rebel against the U.S. sanctions regimen and increasing the likelihood that Europe will continue to buy some Iranian oil despite U.S. threats.

Another indication that efforts to curb Iranian oil exports are backfiring for the Trump administration is the jump in oil prices that has resulted from concerns about the U.S. sanctions on Iran’s oil exports. The increase in oil prices is likely to be felt domestically in the U.S., the world’s largest consumer of oil, potentially posing a political risk to Trump and his fellow Republicans ahead of the November 6 midterm elections.  In addition, further oil price increases could trigger a slowdown in domestic or global economic growth, which could further complicate the U.S.’ Iran policy and Trump’s domestic political situation.

The survey, by the University of Maryland’s Program for Public Consultation (PPC), found that while Trump has proposed a $54 billion boost to federal spending for the military, a majority of Americans prefer a cut of $41 billion. While Trump has proposed a $2.8 billion increase for homeland security, a majority of Americans favor a $2 billion cut. Altogether, the survey looked at the 10 top areas of spending in Trump’s “Budget Blueprint” and found a gap of $139.6 billion between what the majority of the public would spend and what Trump has proposed. Steven Kull, PPC’s director, said he was surprised both by the extent of the gap and the fact that Trump’s proposals were at odds with the preferences of both Republicans and Democrats. In general, those who identified themselves as Republicans were more likely to favor cutting some of the spending that Trump has proposed to cut, but on a raft of areas where Trump proposed large reductions, members of his party preferred to cut less. On military spending, for example, where Trump’s proposal is $94.4 billion away from the majority’s position, a majority of GOP respondents said they wished to keep the so-called “base” or main defense budget at the current level, although they favored cutting $5 billion in spending from a budget for “overseas contingency operations,” specifically in Afghanistan and Iraq.

The International Monetary Fund has assailed US government spending cuts as "excessively rapid and ill-designed" as it cut the economy's growth forecast for 2014. Warning that the country still faces downside risks to its recovery, the IMF cheered the Federal Reserve's stimulus efforts and urged Congress to help firm up growth by repealing the severe "sequester" budget cuts. In its annual report on the US economy, the IMF said growth would be only 1.9 percent this year, due to the sequester's impact, when it had the potential of growing as much as 1.75 percentage points faster.

It suggested fundamental tax reforms as part of actions to confront the longer term fiscal shortfall, including eliminating many exemptions and loopholes, and introducing a value-added tax and a carbon tax. It credited the Federal Reserve's aggressive quantitative easing - its $85 billion-a-month bond purchases, to hold down interest rates - with keeping the economy on a sure footing as the government slashes spending.

The White House says President Donald Trump’s upcoming budget will propose a whopping $54 billion increase in defense spending and impose corresponding cuts to domestic programs and foreign aid. The result is that Trump’s initial budget wouldn’t dent budget deficits projected to run about $500 billion. White House budget officials outlined the information during a telephone call with reporters Monday given on condition of anonymity. The budget officials on the call ignored requests to put the briefing on the record, though Trump on Friday decried the use of anonymous sources by the media. Trump’s defense budget and spending levels for domestic agency operating budgets will be revealed in a partial submission to Congress next month, with proposals on taxes and other programs coming later.

The increase of about 10 percent for the Pentagon would fulfill a Trump campaign promise to build up the military. The senior budget official said there will be a large reduction in foreign aid and that most domestic agencies will have to absorb cuts. He did not offer details, but the administration is likely to go after longtime Republican targets like the Environmental Protection Agency. The tentative proposals for the 2018 budget year that begins Oct. 1 are being sent to agencies, which will have a chance to propose changes. In Congress, Democrats and some Republicans are certain to resist the cuts to domestic agencies, and any legislation to implement them would have to overcome a filibuster threat by Senate Democrats. A government shutdown is a real possibility. “It is clear from this budget blueprint that President Trump fully intends to break his promises to working families by taking a meat ax to programs that benefit the middle class,” said Senate Democratic leader Charles Schumer of New York. “A cut this steep almost certainly means cuts to agencies that protect consumers from Wall Street excess and protect clean air and water.” The White House says Trump’s budget also won’t make significant changes to Social Security or Medicare.

rump’s first major fiscal marker is landing in the agencies one day before his first address to a joint meeting of Congress. For Trump, the prime-time speech is an opportunity to refocus his young presidency on the core economic issues that were a centerpiece of his White House run. The upcoming submission covers the budget year starting on Oct. 1. But first there’s an April 28 deadline to finish up spending bills for the ongoing 2017 budget year, which is almost half over. Any stumble or protracted battle there could risk a government shutdown as well. The March budget plan is also expected to include an immediate infusion of 2017 cash for the Pentagon that’s expected to register about $20 billion or so, and to contain the first wave of funding for Trump’s promised border wall and other initiatives like hiring immigration agents. The president previewed the boost in military spending during a speech Friday to conservative activists, pledging “one of the greatest buildups in American history.” “We will be substantially upgrading all of our military, all of our military, offensive, defensive, everything, bigger and better and stronger than ever before,” he said.