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Keyword: budget

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  • Trump pushes for major COVID-19 deal over Senate Republican objections

    10/20/2020 7:14:36 AM PDT · by Theoria · 48 replies
    Reuters ^ | 20 Oct 2020 | Susan Cornwell
    President Donald Trump on Tuesday pushed for a comprehensive COVID-19 relief package, saying he would accept a deal worth more than $2.2 trillion despite opposition to large spending measures among his fellow Republicans in the U.S. Senate. “I want to do it even bigger than the Democrats,” Trump said in an interview with Fox News, as talks between House of Representatives Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin approached a Tuesday deadline for reaching a bipartisan deal that could pass Congress before Election Day on Nov. 3. The White House has proposed $1.8 trillion in coronavirus relief, while Pelosi...
  • Mayor Lori Lightfoot considering $94 million property tax increase, more than 300 city worker layoffs and gas tax hike, as part of plan to close $1.2 billion budget gap, sources say

    10/18/2020 9:46:13 PM PDT · by ConservativeStatement · 42 replies
    Chicago Tribune ^ | Oct 18, 2020 | Gregory Pratt and John Byrne
    Chicago Mayor Lori Lightfoot is considering a $94 million property tax increase, layoffs for more than 300 city workers and a gas tax hike as part of her plan to close a $1.2 billion budget deficit, sources told the Tribune. Lightfoot also is considering about $500 million in refinancing city debt to help close the deficit, sources said.
  • With federal aid stalled, California is unlikely to get money to offset budget cuts

    10/12/2020 1:27:53 PM PDT · by BenLurkin · 45 replies
    ktla ^ | 10/012/2020
    California is unlikely to get money to offset budget cuts worth billions of dollars with new coronavirus aid talks stalled in Congress. But those cuts would vanish if the federal government sent the state more money by Oct. 15, which is Thursday. California’s public schools, colleges, universities and state workers’ salaries all stand to be hit.
  • The horror of the Biden budget

    09/28/2020 4:27:29 AM PDT · by karpov · 3 replies
    The Hill ^ | August 28, 2020 | Judd Gregg
    ... The Wharton School at the University of Pennsylvania a number of years ago developed a comprehensive and substantive platform for evaluating the federal budget. This model was built so that those who govern and those who are governed could have an accurate and reasonably unbiased analysis of federal fiscal activities. It is one of the most useful and effective tools around for figuring out just what the federal government and the various players who lead it in the Democratic and Republican parties are really up to. The conclusion, after reviewing the opening bids put forward by Biden and his...
  • Weeklong Furlough For Mayor's Office Staff, Including Himself

    09/16/2020 6:59:16 PM PDT · by ameribbean expat · 15 replies
    Nearly 500 mayoral staffers, including Bill de Blasio himself, will be placed on a weeklong furlough in the coming months, as the city attempts to chip away at a $9 billion revenue gap sparked by the pandemic.
  • Biden, After Rejecting Progressive Spending Plans, Now Hones Multi-Trillion-Dollar Budget

    09/14/2020 7:30:33 AM PDT · by Theoria · 5 replies
    The Wall Street Journal ^ | 14 Sept 2020 | Jacob M. Schlesinger and Eliza Collins
    His proposal—aside from spending on financial crisis, pandemic—would represent the biggest increase in decades Joe Biden won the Democratic presidential nomination running as a moderate, rejecting the big-government plans of progressive rivals as unaffordable. In the general election campaign, he has rolled out his own multi-trillion-dollar platform that a new study finds would push long-term Washington spending to its highest level in decades. The former vice president has proposed a total of $5.4 trillion in new spending over the next 10 years, according to an analysis published Monday by the Penn Wharton Budget Model, a nonpartisan group at the University...
  • Debt Matters

    09/07/2020 3:59:56 AM PDT · by karpov · 8 replies
    The Grumpy Economist ^ | September 4, 2020 | John Cochrane
    Last week, the U.S. passed a milestone — US federal debt in private hands exceeded 100% of GDP. But does all this debt matter, or is worrying about debt passé? This debate has been going on among economists for a while. One does not need to go to the incoherence of "modern monetary theory" to find support for the view that debt has few consequences. Olivier Blanchard, of MIT and the IMF, in his Presidential Address to the American Economic Association, (excellent summary here) declared that “there may be no fiscal costs” of additional debt. The core of his argument...
  • Universities: During COVID, Where Does All the Overhead Go?

    08/26/2020 5:33:50 AM PDT · by Kaslin · 17 replies
    American Thinker ^ | August 26, 2020 | Brian C. Tomlinson
    Full disclosure: I am a disgruntled U.S. taxpayer whose Venezuelan nephew and niece are in U.S. universities. My wife and I pay everything for their education. Our nephew tried studying chemical engineering in Venezuela but with the on again, off again system under the Hugo Chavez and Nicolas Maduro dictatorships, it was chaotic at best. We brought both kids (young adults) to the U.S. on student visas; enrolled them in English classes; then watched them as they went into community college then the university. Both kids are great students and make their Tia and Tio proud. Even in community college,...
  • Mendoza, Pritzker warn of budget cuts without federal money

    08/05/2020 6:43:45 AM PDT · by AT7Saluki · 32 replies
    The Center Square ^ | 8/4 | Greg Bishop
    Some Illinois statewide officers are sounding the alarm about potential budget cuts amid the COVID-19 pandemic if the federal government doesn't provide additional money to states, but a public finance watchdog said it’s an opportune time for reforms to shore up spending in the state. ... “There certainly will be significant cuts that will have to be made to life safety, to education, to so many things that I care really deeply about,” Pritzker said. “But this is going to be up to Congress. They're the ones who have the ability to help us.”
  • Crushing Debt Is a Threat to Democracy

    07/27/2020 10:04:42 AM PDT · by Kaslin · 14 replies ^ | July 27, 2020 | Erica Rogers
    We live in a test tube of democracy right now where the age-old adage “deficits don’t matter” is being examined. Back in 2004, Vice President Dick Cheney was reported to have said that phrase to Bush Treasury Secretary Paul O’Neill when he worried that budget deficits posted a threat to the economy. Cheney shot back, according to a Chicago Tribune story from 2004, "You know, Paul, Reagan proved deficits don't matter. We won the midterms [congressional elections]. This is our due." Debt has become a threat to democracy, because elected politicians are spending us into a potential debt crisis.We are seeing record...
  • Thick blue line:.... Surge in support for police, just 2 in 10 back ‘defund scheme'.....

    07/21/2020 10:59:11 AM PDT · by caww · 44 replies
    washingtonexaminer. ^ | 7/21/2020 | Paul Bedard
    In one of the first signs that a backlash has begun against police protests, a growing number of people are voicing their support for law enforcement, especially in their neighborhood, and shifting away from the “defund” effort sparked by the Black Lives Matter marches. 66% of adults said they oppose cutting the police budget in their community to channel money to social services, the scheme pushed by many liberals. That is up from 59% just last month. 57% of black people oppose defunding police in their home community. For whites, it's 69%, and for other minorities, it is 62%. The...
  • Two Days After a Criminal Ambushes and Kills Two Texas Cops, Austin Slashes Its Police Budget

    07/14/2020 12:04:38 PM PDT · by rktman · 39 replies ^ | 7/13/2020 | Bryan Preston
    Austin’s city council voted this afternoon to slash $11.3 million from the city’s police budget. Note the tone in this piece, which is supposed to be a news story from local station KVUE: The proposed budget for the 2020-21 fiscal year of $4.2 billion – the same size as last year’s – adjusts to new fiscal constraints and community expectations, with focused investments in core programs and City infrastructure, according to the city manager’s office. The proposed $1.1 billion general fund budget supports re-imagining public safety through a reallocation of police funding to health, housing, and other critical social services....
  • N.J. to borrow billions to help avert public worker layoffs after Murphy, top Democrats cut deal

    07/11/2020 7:13:16 PM PDT · by Coleus · 29 replies
    Star Ledger ^ | 07.11.20 | Brent Johnson,Samantha Marcus, Sophie Nieto-Munoz
    Gov. Phil Murphy and his fellow Democrats who lead the state Legislature agreed to a plan Friday that would allow New Jersey’s state government to borrow up to nearly $10 billion to help make up massive losses in tax revenue wrought by the coronavirus pandemic. Almost immediately, top Republican leaders announced they plan to file lawsuits to prevent the move, calling the plan “clearly unconstitutional.” Murphy said New Jersey is facing possibly a $20 billion hole in its state budget, and borrowing is one of a few necessary moves the state needs to take balance the budget and avoid widespread...
  • Seattle City Council could make deeper cuts to Police Department budget than proposed by Mayor Jenny Durkan

    07/08/2020 2:55:40 AM PDT · by Libloather · 20 replies
    Seattle Times ^ | 7/07/20 | Daniel Beekman
    Most of the budget cuts that Seattle Mayor Jenny Durkan has proposed for the Police Department were identified in response to the coronavirus pandemic - before Black Lives Matter protests surged in the city - rather than in response to police defunding demands made by protesters. But City Council members will meet Wednesday to continue dissecting the Police Department’s budget and discussing additional cuts they could make. Durkan proposed about $20 million in cuts to the Police Department last month, among other changes to Seattle’s 2020 budget that she said would address unexpected city spending related to COVID-19, account for...
  • House Passes $1.5T Climate Infrastructure Bill Packed With Green New Deal Wish-List Items

    07/02/2020 7:28:15 AM PDT · by SeekAndFind · 16 replies
    PJ Media ^ | 07/02/2020 | Tyler O' Neill
    On Wednesday, the House of Representatives passed a massive $1.5 trillion infrastructure bill packed with Democrats’ climate wish-list items. Democrats passed the bill 233-188 on a mostly party-line vote. Much of the funding tied to actual transportation measures — $500 billion — is tied to green measures requiring states to set targets for reducing greenhouse gas emissions and preparing for mitigation as if an unspecified climate catastrophe were on the immediate horizon. President Donald Trump slammed the bill, H.R. 2, as “full of wasteful ‘Green New Deal’ initiatives.” “Naturally this nonsense is not going anywhere in the Senate,” Senate Majority...
  • Mayor De Blasio Announces $1 Billion In Cuts To The NYPD Budget, AOC Says It’s Not Enough; Police Retirements Up 49% Over The Same Time Last Year

    06/30/2020 7:09:14 PM PDT · by SeekAndFind · 30 replies
    Hotair ^ | 06/30/2020 | John Sexton
    Mayor Bill de Blasio and the NY City Council have reached an agreement to cut $1 billion from the NYPD budget next year but Rep. Alexandria Ocasio-Cortez says it isn’t enough.The mayor appears to have come up with a plan that will shift a big portion of that $1 billion in funding to another city agency without actually cutting anything. But the remainder of the cuts still mean less overtime and that the city won’t be hiring nearly 1,200 new officers: The mayor and the City Council agreed on Monday to reach that $1 billion in cuts by, among...
  • Higher Taxes, Layoffs, And Service Cuts: The State And City Budget Crisis Is Here

    06/30/2020 9:56:59 AM PDT · by 11th_VA · 21 replies
    Forbes ^ | Jun 30, 2020,11:53am EDT | Richard McGahey
    The recession is hitting state and city budgets hard in the new fiscal year that starts on July 1. They are responding by firing workers, reducing services, and even increasing taxes. Massive federal aid is the only real solution. The new fiscal year for 46 states and many cities begins on Wednesday. And a flood of red ink caused by the deep pandemic recession is forcing them to fire workers, reduce spending and services, and even raise taxes (one of the worst things you can do in a recession). Without Congress providing up to $1 trillion in federal aid, non-federal...
  • De Blasio announces proposal to cut NYPD budget by $1B

    06/29/2020 8:40:43 AM PDT · by jazusamo · 52 replies
    Fox Business ^ | June 29, 2020 | Stephanie Pagones
    New York City Mayor Bill de Blasio said he has proposed a plan for the city to cut $1 billion from the NYPD’s nearly $6 billion budget, according to officials and multiple reports. De Blasio’s announcement falls in line with city council leaders’ calls for the billion-dollar cut to the police department’s budget. The Democratic mayor revealed details of his proposal during a Monday morning press conference. He said his office presented the plan to City Council over the weekend and called this “a moment where we have to address profound issues. We need to redistribute revenue to communities that...
  • Durkan proposes $20 million in cuts to Seattle police as part of proposal to balance budget

    06/23/2020 6:19:24 PM PDT · by Libloather · 22 replies
    Seattle Times ^ | 6/23/20 | David Gutman
    Mayor Jenny Durkan will propose $20 million in cuts to the Seattle Police Department in the last six months of 2020, the largest cuts to any department as the city attempts to fill a budget shortfall of around $400 million this year caused by the novel coronavirus. The city expects to spend $233 million this year responding to the coronavirus, although some of that is money the city would have otherwise spent in other areas. It’s been spent increasing on emergency food and housing assistance, providing free coronavirus testing, on support for first responders, and adapting city staffing and facilities...
  • Boston Mayor Declares Racism A "Public Health Crisis"

    06/12/2020 9:41:47 AM PDT · by willmatt · 27 replies
    The Boston Herald ^ | June 12, 2020
    Boston Mayor Martin Walsh announced this morning he is declaring racism a public health crisis and will transfer $3 million from the police overtime budget to help put his order in motion immediately. Walsh said there is a “new urgency” to erase racism in the city and added Boston’s budget for the coming year will reallocate a total of $12 million to programs for youth and more. That will start with the $3 million for the declaration.