The Damage of 2011
NYT editorial
After they took power in January, the hard-line Republicans who dominate the House reached for a radical overhaul of American government, hoping to unravel the social safety net, cut taxes further for the wealthy and strip away regulation of business. Fortunately, thanks to defensive tactics by Democrats, they failed to achieve most of their agenda.
But they still did significant damage in 2011 to many of the most important functions of government, and particularly to investments in education, training and transportation that the country will need for a sound economic recovery.
With a threatened government shutdown in April, the Republicans pushed through spending cuts of about $25 billion over a decade. Then, in August, the agreement to raise the debt ceiling — an unnecessary crisis created by the Republicans — cut nearly $2 trillion through 2021 with strict spending caps, a move that will hurt hundreds of programs serving millions of Americans for a full decade and longer.
Given the level of extortion they faced, the White House budget office and Congressional Democrats negotiated relatively well. They prevented Republicans from touching Medicare recipients, Medicaid, Social Security and other programs. (President Obama did offer to cut entitlement spending in exchange for higher tax revenues, but Republicans refused that deal.) They arranged for more than $500 billion in cuts to come from defense spending. And they did not agree to extend the Bush tax cuts, now scheduled to expire at the end of 2012.
(More here.)
After they took power in January, the hard-line Republicans who dominate the House reached for a radical overhaul of American government, hoping to unravel the social safety net, cut taxes further for the wealthy and strip away regulation of business. Fortunately, thanks to defensive tactics by Democrats, they failed to achieve most of their agenda.
But they still did significant damage in 2011 to many of the most important functions of government, and particularly to investments in education, training and transportation that the country will need for a sound economic recovery.
With a threatened government shutdown in April, the Republicans pushed through spending cuts of about $25 billion over a decade. Then, in August, the agreement to raise the debt ceiling — an unnecessary crisis created by the Republicans — cut nearly $2 trillion through 2021 with strict spending caps, a move that will hurt hundreds of programs serving millions of Americans for a full decade and longer.
Given the level of extortion they faced, the White House budget office and Congressional Democrats negotiated relatively well. They prevented Republicans from touching Medicare recipients, Medicaid, Social Security and other programs. (President Obama did offer to cut entitlement spending in exchange for higher tax revenues, but Republicans refused that deal.) They arranged for more than $500 billion in cuts to come from defense spending. And they did not agree to extend the Bush tax cuts, now scheduled to expire at the end of 2012.
(More here.)
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1 Comments:
This is so target rich I hardly knows where to begin. One would think that actual spending is down and that the Senate produced a budget. I'm shocked the article doesn't mention cowboy poets. Ms. Robinson left the NYT in fine condition, perhaps her estimated departure costs of $15 million in performance bonus and stock options will turn out to be a great investment. Where is the OWS crowd when we need them?
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