It was reported Thursday that the president’s fiscal Year 2015 budget request due to be released on March 4 will not include a proposal to institute a more accurate gauge of inflation that was included in last year’s budget submission. The decision to backtrack underscores the election-year political calculus that will likely preclude substantive action on any important issues this year.
The Winter Olympics in Sochi, Russia are winding down this week, but the games in Washington will continue. Politicians on both sides of the aisle are trying to outdo each other with increasingly outrageous budget tricks.
The House and Senate both agreed on suspending the statutory debt limit until next year. While lawmakers did the minimal necessary, it did nothing to improve the unsustainable debt outlook.
As we celebrate Valentine’s Day with the ones we love, politicians of both parties have increasingly shown affection for some disreputable figures. The love affair with budget gimmicks is a dangerous liaison that the country can’t afford.
On Tuesday the House of Representatives approved of lifting the debt ceiling until March 15, 2015 without any strings attached on a 221-201 vote. The Senate plans to begin considering the bill Wednesday.
- The Party’s Over 03/05/2014
- President’s Fiscal Year 2015 Budget, the Good and the Bad 03/05/2014
- White House Budget; What Should Be In It? 03/03/2014
- New Plan Moves Tax Reform Forward 02/26/2014
- Retreating on Military Retirement Reform 02/25/2014