Word: budgeteer
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...moving in and out of the Commerce job and then immediately attacking Administration economic policy, appear to be the workings of a confused mind. His record as a member of the Senate may be unspectacular. However, it says a great deal about the state of the discourse regarding the budget that his observation is one of the few, by a ranking Senator in his party, which mentions the term "bankrupt" to refer to what could become of the American government...
...Gregg may not be correct and his point of view may make him an outlier. But there is no denying the fact that there has been almost no time spent in the Congressional conversation about what could happen to the budget if either the revenue or expense assumptions at the core of the Administration or CBO analyses are wrong by a substantial margin. The projections of GDP growth only have to be a percent or two too low for deficits to go up by hundreds of billions if not trillions of dollars over the next decade. Not a single page...
Only two months old, the presidency of Barack Obama already has a dominant theme. It rings out in nearly every public address, comes up in almost all his media interviews, and even graced the cover of his first budget. "A New Era of Responsibility," he called the document...
...jarring news Friday, when the Congressional Budget Office (CBO) released its preliminary analysis of Obama's plans for the nation. In one of the first non-partisan, independent reviews of his administration's economic vision, the Obama White House pretty much got a failing grade - not because the President's advisers were bad at math, but because the CBO found that the economy is expected to recover so slowly as to make the Obama policy proposals unsustainable. The new "Era of Responsibility," it turned out, runs into big trouble with just a slight long-term decline in economic projections...
...According to the Congressional bean counters, the economy is likely to grow at a slower rate than Obama had projected when the budget was drafted, and than several other economic forecasts anticipate. Under the Administration's plans, that means an explosion in government debt after the current recession ends, with sustained deficits even larger than the ones caused in the 1980s by the policies of Ronald Reagan. The national debt, the CBO calculated, would go from 41% of the size of the nation's economic output in 2008 to 82% of the economic output in 2019. In other words...