Social Links

Run of Site Leaderboard

14 responsesSubscribe to comments

  1. “Perkinson added that sequestration would affect higher education, civil defense, education for children with disabilities, law enforcement and public health.”

    I heartily agree with what Perkinson said here. As usual, this latest snafu will hardly seem like a bump for the 1%, but the rest of us will suffer dramatically for it.

  2. Several economists, including 2 who have won the Nobel Prize in economics, have published papers demonstrating that interest payments on the national debt (public debt + trust fund debt) are manageable now, and in the out years.

    The CBO agrees.

    Here’s a link that will give you a good snapshot of the interest expense on US public debt:

    http://www.treasurydirect.gov/govt/reports/ir/ir_expense.htm

    Lots of folks are huffing and puffing about the debt issue these days, though it is important to keep in mind that the public debt, which represents the total accumulated annual federal budget deficits, represents spending authorized by Congress.

    The president starts the process by submitting a proposed budget in February for the fiscal year that begins in October. Congress votes on the budget and sends it to the the president for signature.

    Congress has the power to lower the budget deficits, and by extension, the public debt.

    The president’s proposed federal budget for FY 2014 is about $3.9 trillion. The CBO projects tax revenues will be about $3.0 trillion.

    So, why doesn’t Congress pass a $3.0 trillion budget and send it to the president?

    If you can answer that question, you are in the wrong line of work.

    1. Pete,

      If we can find a way to pay for the rest of the US governments unfunded liabilities…

      http://online.wsj.com/article/SB10001424127887323353204578127374039087636.html

      …then we can agree that paying off our debt over time is possible.

      Until then, we’re unsustainable.

  3. An open invitation to Mr. Lindley:

    Mr. Lindley, without using any resources, tell me what the value of all federal expenditures are in Vermont.

    In your calculation, include:

    – Direct program funding (cite OMB line items where possible)
    – Reimbursements
    – Subsidies
    – Price supports
    – Federal salaries and wages
    – Matching funds
    – Mandated disbursements (authorized by Congress)
    – Non-labor expenditures (example, VA hospital, etc.)
    – Transfer payments to individuals

    If you get within 10% of the correct value, I’ll buy you and your family dinner.

    Post your answer on this website please by Tuesday at 5 PM.

    I look forward to hearing from you.

    Kind regards,

    Pete Novick

  4. I bet you will be fine.

  5. Turners points are far more coherent.

    I don’t think it’s unfair or political to characterize Vermont as being “dependent” on Federal Funds — that’s self-evidident past the point of tautology.

    1. It’s not like we have much of a choice on that dependency. We have to pay the federal taxes, whether we accept whatever portion they send back to us or not. Unless we secede from union, in which case they may still ask us to pay our share of the national debt that has been foisted onto us.

      1. We have no choice on Federal taxes. We do have a choice on budgeting beyond our means.

        That “choice” is only theoretical though. It seems likely our native population is simply too dependent for Vermont state government to balance their budgets without doing great harm to the least able. (Please bear in mind I mean “dependent” in a very straightforward and non-judgemental way and I don’t see social services as “entitlement” programs.)

        If we are dependent on FedGov now, it’s a problem because our demographic & economic challenges are only projected to get worse in the future. What happens when our dependency on Federal funding isn’t enough to cover those folks, either?

        It’s not even a hypothetical question, really, we’ve been there for several years now at least.

  6. The sequester is a dumb way to do what’s essential to control federal government spending within limits supportable by the economy. The sequester is a drop in the bucket.

    Any large budget can be reduced by 10% with negligible effect if done intelligently. Washington and it’s special interests persistently defy common sense in favor of political advantage. We have a fiscal problem because the President and Congress suffer from a leadership deficit.

  7. Jack seems to forget that the Republicans have sponsored and championed massive spending increases in the early 2000′s and have fought to prevent any cuts to massive subsidy to corporations…. both major parties are guilty of spending money we don’t have….

    1. You may be mixing up Jack Lindley with Karl Rove and James Baker. US GOP and VT GOP are hugely different animals.

      1. VT GOP seem to make that difference less and less clear with statements like this.

  8. There is nothing strange about Lindley’s remarks. They typify the standard Republican line against people and for corporations. There is over $1 trillion spent every year on what we refer to as corporate welfare. I did not notice any suggestions from him suggesting that these corporations should absorb some of these cuts. These Republicans would rather have Vermonters forced out of their homes into eternal poverty than to even cut one dime from corporate pork. Oh, and by the way, Lindley, if you try to argue that corporate welfare creates jobs, think again, if you can, it is pocketed by overpaid non producing execs who could care less about providing jobs for wanting Americans.

    Republicans who still believe in “trickle down”, “voodoo economics” should probably take their ideas to the closest urinal and let it trickle down there.

  9. For anyone to cloak draconian cuts as a positive step to reduce “dependence on the federal government” is hypocrisy of the highest order. If avoidance of dependency on government subsidies were the issue, why don’t all those public officials who favor the sequester stop cashing their own government paychecks? That would “free them” of their dependency, at least.

    Do these folks remember Tropical Storm Irene? In a single day, sufficient damage was done to amount to more than three times our town’s (Newfane) annual budget. I’ve lived in the third world and know precisely what happens when a smaller entity tries to face a disaster beyond their ability to recover: They don’t recover!

    The anti-public spending mantra has taken has reached absurd proportions. It’s like suggesting that we reduce our dependency on food by starving to death! When will these ideologues who defend low taxes to the rich and their corporations against the needs of ordinary Americans be brought to task?

Leave a Reply

Comment policy

VTD requires that all commenters identify themselves by first and last name. You may wonder why we don't accept anonymous comments. The short answer is: We want to keep the discourse civil.

You might rightly ask, since most online newspapers accept anonymous posts from readers, what makes VTD so special?

The long answer is: Anonymous comments don't support our mission. We are a nonprofit news organization dedicated to enhancing democracy through in-depth journalism. Our role is to foster a civil online discourse, and one very simple and effective way to do that is to require commenters to identify themselves. This isn't a new idea, of course. This is the way newspapers have treated letters to the editor since time immemorial.

As a result of our comment policy, VTD has created a safe zone for readers who want to engage in a thoughtful discussion on a range of subjects. We hope you join the conversation.

Privacy policy

VTDigger.org does not share specific information about our readers with other entities. Email addresses we collect through our subscription list and comment submissions are kept private.

We use Google analytics to generate aggregated data regarding the size and geographic distribution of our readership. This information helps us gauge how many readers come to the website and what towns they live in. It does not include addresses or other identifying characteristics about our readers.

Donate Today

We're an independent nonprofit organization, your donation helps fund the digging, and, it's tax deductible.

Thanks for reporting an error with the story, "Vermont Republicans frame sequester cuts as a needed correction"