If Wall Street, GOP Senate and Hedge Fund Managers haven’t come out against House GOP’s game of default chicken yet and advocated for the Reid or McConnell plans, which both are all spending and tax cuts, shouldn’t you have to assume all of those folks are hedged against a default of the US government already? [...]
After Cantor cheerily walked out on budget talks led by VP Joe Biden last month, Andrew Sullivan called Eric Cantor a “shallow, callow fanatic” They see this ideologically, i.e. not politically. But the political facts are these. Federal tax revenues are at a 50-year low; marginal rates are lower for many than they were when [...]
It’s that simple. The Ryan Plan is like a suit worn by TNT sportscaster Craig Sager: Bold. Not Serious. The Congressional Budget Office just released the latest edition of its long-term budget outlook (pdf), and it shows the same thing as always: If Congress lets the Bush tax cuts expire or offsets their extension, implements the [...]