I understand that the man is desperate to escape to Washington, DC – but the bills are piling up. And I am not being figurative in the slightest:
Even by the standards of this deficit-ridden state, Illinois’s comptroller, Daniel W. Hynes, faces an ugly balance sheet. Precisely how ugly becomes clear when he beckons you into his office to examine his daily briefing memo.
He picks the papers off his desk and points to a figure in red: $5.01 billion.
“This is what the state owes right now to schools, rehabilitation centers, child care, the state university – and it’s getting worse every single day,” he says in his downtown office.
Mr. Hynes shakes his head. “This is not some esoteric budget issue; we are not paying bills for absolutely essential services,” he says. “That is obscene.”
Continue reading Alexi Giannoulias (D), call your office.
Whatever Microsoft is charging for its “Let’s balance the federal budget!” game that the government has requested…
…I’m pretty sure that I can bring it in for less. I even have a script already planned out: Continue reading My brief foray into fiscal text-based RPGs.
The Washington Post, alas, gets this editorial wrong in the very first sentence:
NO ONE LIKES to be the bearer of bad news — especially when it could threaten your multibillion-dollar health-care reform bill.
Come, I will conceal nothing from you: considering the amount of time that the Right’s bloggers, pundits, and legislators have spent explaining why the Democrats in Congress needed to institute a Stop spending money we don’t have, you idiots policy, well. We do live here, too, so our liking is hardly unalloyed – but we did say that this wasn’t going to work*. Moving on:
And so the Obama administration did not exactly rush to publish yesterday’s required mid-session update to its federal budget estimates of last February. Still, once the numbers finally emerged in the dog days of August, they retained the power to stun: Instead of a cumulative $7.1 trillion deficit over the next decade, the White House now projects a $9 trillion deficit. These figures imply average annual budget deficits greater than 4 percent of gross domestic product through fiscal 2019, a rate of debt accumulation faster than projected GDP growth. This is not a sustainable fiscal path.
Continue reading The Washington Post discovers fiscal responsibility.