Ryan's World: PAYGO a "Dangerous Fiscal Course"

NEWS ITEM: 8. Which political party, the (Democrats) or the (Republicans), do you trust to do a better job handling The federal budget deficit? Democrats: 52; Republicans: 29. [This Washington Post-ABC News poll was conducted by telephone September 27-30, 2007, among a random national sample of 1,114 adults.]

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EJ Dionne's Column and A Rant About Fiscal Responsibility

Not much to disagree with in E.J. Dionne's column on the war tax today. I wanted to highlight this passage, though: Would conservatives and Republicans support the war in Iraq if they had to pay for it? That is the immensely useful question that Rep. David Obey (D-Wis.), chairman of the House Appropriations Committee, put on the table this week by calling for a temporary war tax to cover President Bush's request for $145 billion in supplemental spending for Iraq.

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Estate Planning: PAYGO and Raising (gasp) Revenue!

After Sen. Jon Kyl (R-AZ) agreed to withdraw an amendment to cut the estate tax, Senate Finance Committee chair Max Baucus (D-MT) promised a committee mark-up of Kyl's amendment next spring.

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How Many Votes Are Really Needed to Override The President's SCHIP Veto?

There seems to be some confusion in the press over how many votes will be needed to override President Bush's veto of the SCHIP bill. It's pretty much basic arithmetic. There are 435 members in the House. You need a 2/3rds majority of all voting members to overide a veto. So at most, 290 members will have to vote to override. That's all we know for sure.

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Compare and Contrast

You wouldn't believe it from the deft strokes of his veto pen, but President Bush is the very same president who signed into law the massive Medicare prescription drug benefit. Let's compare that bill with the recently vetoed SCHIP bill: Program 5-Year Cost (billions of dollars) Fully Funded? Vetoed? Medicare prescription drug coverage 268.7 No No SCHIP Expansion 34.9 Yes Yes (click to enlarge)

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Samuelson Watch

This week's Samuelson Watch is outsourced to Matthew Yglesias:

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Bush Vetoes SCHIP

It hasn't been reported yet, but we're hearing that Bush has vetoed the SCHIP bill. Update: Here's the AP story. Update: The House may vote to override the veto on October 17th.

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The Ball Is In Your Court, Mr. President

The SCHIP reauthorization has been sent to the President for his signature. Will he help give 4 million more children health insurance, or will he try to deprive them of it? Well, don't just sit there. Tell the President to sign it!

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What's Next For SCHIP?

Now that the same children's health insurance bill (SCHIP) has been passed by both the House and Senate, what's happening next? Well, for one, Congress hasn't sent the bill to the President yet for his signature. That will most likely happen tomorrow. Then, the President, making good on his many promises, will probably veto the bill immediately. He'll probably try to keep it quiet. He's a little embarrassed that he's denying children health insurance.

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The Drumbeat For Benefit Cuts

The drumbeat for "entitlement reform," a euphemism for Social Security and Medicare cuts, has been getting louder. The main drum circle comprises the Washington Post's editorial board, the Senate Budget Committee, and the Bush Treasury Department. When they want to, they can make a frightful lot of noise. Thankfully, Dean Baker is around to check the facts.

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