balanced budget

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Obama: Gay Marriage Bans 'Probably' Unconstitutional

President says debt sustainable for next 10 years

(Newser) - It looks like President Obama's views on gay marriage are continuing to " evolve ." When he first expressed his support for gay marriage last May, Obama also said he thought it was a state issue (a position he's since reaffirmed ). Now, however, the president is saying... More »

Ryan's New Budget Axes ObamaCare, $5T in Spending

Would balance over 10 years

(Newser) - Paul Ryan is unveiling his latest budget proposal, and this time, he says, it'll balance in 10 years—half the time he claimed for his previous budget, NPR notes, because he's including new revenue from the fiscal cliff deal. As promised, the new plan calls for repealing ObamaCare,... More »

Paul, Tea Party Slam 'Robin Hood'

Senator urges cuts in State of the Union response

(Newser) - Rand Paul called for more "Adam Smith" and less "Robin Hood" as he gave the Tea Party's response to President Obama's State of the Union. "Government is the problem," the Kentucky senator said, calling for drastic spending cuts. Sequestration's automatic cuts aren't... More »

College Kids' Super PAC Aims to Raise... Beer Money

A nice cold brew could lead to balanced budget, founders argue

(Newser) - What happens when two college students form a super PAC? Easy: That super PAC sets out to raise money for … beer. Daniel Bassali and Winslow Marshall, both seniors at George Washington University, formed Slam Dunks, Fireworks, and Eagles with the intention of raising enough money to host a congressional... More »

House Rejects Balanced Budget Amendment

Measure falls short of two-thirds majority thanks to Democratic opposition

(Newser) - The House has rejected a proposal to amend the Constitution to require a balanced budget, seen by many as the only way to force lawmakers to hold the fiscal line and reverse the flow of federal red ink. The 261-165 vote was 23 short of the two-thirds majority needed to... More »

Romney Wrangles With Town-Hall Questioner

Two argue over federal budget-balancing

(Newser) - In a town-hall kerfuffle caught on tape, Mitt Romney trades heated words with a questioner in discussing a balanced-budget amendment he supports, notes Mediaite . When the questioner suggests that Romney is telling his audience “what (it) wants to hear,” adding that it’s “shameful” to pretend we... More »

GOP's New Crusade: Balanced Budget Amendment

Some Democrats amenable to the plan, say insiders

(Newser) - Emboldened after the debt limit fight, Republicans are shifting energies to their quest for a balanced budget amendment—but such a measure faces major hurdles, the New York Times reports. John Boehner has called on congressional Republicans to spend their August recess convincing the public of the importance of such... More »

House Passes Boehner Plan; Senate Rejects It

Harry Reid expected to push his doomed plan now

(Newser) - John Boehner finally got his debt ceiling plan through the House, and it survived all of two hours. The bill passed 218-210 today after the House speaker reworked it to appease Tea Party conservatives. As expected, the Senate promptly tabled it, meaning it is effectively dead. Just after the Senate... More »

No Debt Compromise in Sight

One top Democrat says things getting 'very, very scary'

(Newser) - Exasperation is high on Capitol Hill, as the House and Senate barrel ahead with unrelated debt ceiling plans, neither of which resemble the “grand bargain” President Obama wanted. Today, John Boehner will hold a vote on his so-called “Cut, Cap, and Balance” bill, which calls for $5.8... More »

GOP Wants to Make Unbalanced Budget Illegal

Mandate has full support from Republican senators, none from Dems

(Newser) - The GOP is hoping to tack a 28th amendment on to the Constitution: one that would mandate a balanced budget. All 47 GOP senators are behind the proposal, which was announced yesterday, but "the whole thing is a long shot," an analyst tells Reuters . Earlier attempts have fallen... More »

Dems to Offer GOP Another $20B in Spending Cuts

...bringing total to $30B, which may not satisfy Republicans

(Newser) - With the threat of a government shutdown less than two weeks away, all eyes are on the budget. The White House and congressional Democrats are working on a proposal to cut another $20 billion in spending, insiders tell the Wall Street Journal . It’s the biggest cut the administration and... More »

Newt: Selling Out Is Worse Than Shutting Down

1995 government shutdown was no catastrophe, writes Gingrich

(Newser) - The Republican leadership should stick to its guns regarding the budget, even if that means shutting down the government—which wouldn't be the worst thing, argues Newt Gingrich. Writing for the Washington Post , he points to the government shutdown of 1995 as an event worth imitating. While many regard that... More »

Paul: I'll Cut Fed Workers, Wages 10%

Rest of 'balanced budget' cuts would come from 'across the board'

(Newser) - Newly minted US Senator-elect Rand Paul scrambled yesterday when pressed to come up with federal cost cuts—but finally said he'll aim to slice the number of federal workers and their wages by 10%. Pit bull reporter Christine Amanpour repeatedly needled Paul on ABC's This Week to move beyond "... More »

How We Wound Up With a $1.2T Deficit

(Newser) - President Obama’s agenda plays a very small role in the massive deficits facing the country, but it won't do anything to correct them, wither the New York Times reports. After reviewing a decade’s worth of Congressional Budget Office reports, the paper explains how the government turned a $800... More »

Ballot Measures a Final Test for Schwarzenegger

Outgoing gov must convince Calif. voters to endorse budget fixes

(Newser) - Deep into Arnold Schwarzenegger's second term, the novelty of holding political office has given way to the hard realities of governing, the New York Times reports. In the eyes of his constituents, too, the Governator’s celebrity sheen has faded, enough that Schwarzenegger is worried about the passage of several... More »

Obama Makes GOP Miss Clinton

(Newser) - Back in the '90s you wouldn’t hear many Republicans waxing poetic about Bill Clinton, but these days, that’s exactly what Steve Chapman of the Chicago Tribune is doing. “Clinton, for all his appetites and excesses, was a cautious, centrist sort of Democrat” who “proclaimed—or conceded—... More »

Keep State's Woes From Dragging Down Economy

Now is no time to require balanced budgets

(Newser) - When the economy goes south, the government has no business aiming for a balanced budget. But all 50 governors are faced with slashing spending to do so, and “at the expense both of their most vulnerable constituents and of the nation’s economic future,” Paul Krugman writes in... More »

McCain Vows to Balance the Budget

Social Security reform one scenario; Dems call plan unrealistic

(Newser) - John McCain will pledge to balance the budget by the end of his first term, Politico reports, promising spending and entitlement programs, including Social Security, in a policy paper released today. McCain is renewing a promise he’d backed off from in April—a vow likely to excite his fellow... More »

McCain Outlines More Specific Fiscal Stance

Candidate looks to cut taxes, project fiscal responsibility

(Newser) - How would John McCain run the economy, really? In an interview with the Wall Street Journal, the candidate tried to answer that question, positioning himself as a fiscally responsible defender of the Bush tax cuts. But the candidate’s tax proposals don’t quite add up, the Journal notes, and... More »

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