Renewing Fiscal Responsibility

The Brookings Institution will be hosting an event to get the presidential candidates focused on the deficit. But only six years post-Clinton, they may be tilting at windmills.

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Two Ironies Of The SCHIP Debate

President "Heckuva job, Brownie" Bush has cast himself as the defender of the poor against the greedy working class, which doesn't deserve help with their health insurance bills. I don't see how else you read statements like this.

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House, Senate Reach Deal on SCHIP

See the press release, with policy details, on House Speaker Nancy Pelosi's webpage.

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Debt on Arrival -- Take II

Sometime before its Columbus Day recess, the Senate will vote on legislation to raise the ceiling on the national debt to nearly $10 trillion. Treasury Secretary Paulson wrote congressional leaders on Wednesday that the statutory limit of $8.965 trillion would be reached Oct. 1. Last week, the Senate Finance Committee OK'ed boosting the debt limit by $850 billion to $9.815 trillion. The House did likewise without a roll call vote (under the so-called 'Gephardt' or 'Hastert' rule) when it adopted the fiscal 2008 budget resolution in May.

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In Local News...Payday Loan Interest Rates Capped!

The DC city council has capped payday loan rates...via DMIblog. The D.C. Council voted 12 to 1 yesterday to approve legislation that would require payday loan stores to charge the same annual percentage rate as banks and credit unions, a limit that the payday lending industry says will put them out of business in the city.

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CBPP on President's Misleading SCHIP Stance

According to the Center on Budget and Policy Priorities, President Bush reiterated his veto threat for any SCHIP expansion today. His objection now is that: "I want...the Congress to be focused on making sure poor children get the health insurance they were promised. Instead, Congress has made a decision to expand [SCHIP] eligibility up to $80,000." But Congress has never made that decision. Senator Chuck Grassley (R-IA):

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Poverty and the Media

Over a three year period (that included the Hurricane Katrina disaster), did the ABC nightly news run more stories about Michael Jackson or poverty? If you guessed Michael Jackson, you'd be right. See FAIR's study on poverty stories on network news shows for more.

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Undoing The Damage To Child Support Programs

The National Women's Law Center is getting ready to send a letter to Congress demanding a reversal in the 2006 cuts to federal child support programs. OMB Watch has signed on- and you can sign on your organization on this website. The deadline for sign-ons is this Friday.

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Bush Tax Theory

Alan Greenspan hit a hornet's nest when he disparaged the Bush fiscal policy record in his new book. Responding to Greenspan's comments, President Bush, yesterday: "I would also argue that cutting taxes made a significant difference, not only in dealing with a recession and an attack on our country, but it also made a significant difference in dealing with the deficit because the growing economy yielded more tax revenues, which allowed us to shrink the deficit." Vice President Cheney, today:

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The Less Partisan Part of the Glass

Bipartisan Task Force for Responsible Fiscal Action Is the federal fiscal responsibility glass half-full or half-empty? Let's look first today at the part of the glass that is half full -- something fresh and new. After all, when was the last time the administration has done anything, the Treasury Secretary has said anything, or Congress has considered anything comprehensively addressing the nation's long-term fiscal imbalances?

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