StanCollender'sCapitalGainsandGames Washington, Wall Street and Everything in Between



Bruce Bartlett's blog

Posted by Bruce Bartlett
I published this article in yesterday's Financial Times. BB
 
To many the budgetary gridlock in the US may appear as intractable as that in Europe. But the reality is that the American situation is vastly more favourable.
Posted by Bruce Bartlett

According to the latest Medicare trustees report (p. 146), the unfunded liability of Medicare Part D is $16.1 trillion.

 

Google Reader

31 Oct 2011
Posted by Bruce Bartlett

Google has completely destroyed its RSS Reader. Suggestions for alternatives are appreciated. Non-Mac only. 

Posted by Bruce Bartlett
Short answer: It’s because he’s black and a Republican. Let me explain.
 
Republicans have long had a conflicted relationship with African Americans. Their party came into existence for the purpose of ending slavery. The Compromise of 1850 and Kansas-Nebraska Act were widely viewed throughout the North as sell-outs to slave owners and there was revulsion against the Whig Party for failing to mount any meaningful opposition to them. In the election of 1854, the Whigs collapsed and Democrats suffered heavy losses throughout the North.
 
At that point, the Democrats largely became a sectional party based in the South and dedicated to the preservation of slavery. The Republican Party arose from the ashes of the Whig Party and was dedicated to the abolition of slavery. It ran its first presidential candidate in 1856, electing former Whig congressman Abraham Lincoln as president in 1860, after the Democrats split into a pro slavery faction headed by Sen.
Posted by Bruce Bartlett

Press reports say that Congress is about to enact a nominal spending cut of 10 percent in the U.S. Government Accountability Office budget. The mind-boggling stupidity of this action is frankly beyond comprehension. Anyone who knows anything about the budget knows that the GAO is the primary source for detailed analyses of government programs. If Congress really wants to cut the budget without just taking a meat-ax to every program regardless of the consequences it needs the GAO desperately. It is the strongest ally any budget cutter could possibly have. GAO analysts know the ins and outs of government programs better than anyone in Washington. Its database is filled with decades full of reports recommending savings that would have saved trillions of wasted dollars over the years if they had been followed. Instead of slashing GAO's budget, Congress ought to be increasing it.



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