Donna Cooper: Infographic -- Tax Breaks vs. Budget Cuts

Infographic: Tax Breaks vs. Budget Cuts
By Donna Cooper
Center for American Progress

House leaders are unfortunately restricting their proposed budget cuts for the remainder of fiscal year 2011 to nonsecurity discretionary spending in an attempt to tame a $1.3 trillion deficit. This approach is especially shortsighted since the Federal Treasury loses twice as much revenue due to tax breaks than Congress appropriates on all nonsecurity discretionary spending.

The chart below compares the 10 safety-net programs slated for deep cuts with the cost of the tax breaks that should also be considered for reduction or elimination to bring the budget into balance. The column on the left is a list of safety-net programs that have already been targets of the House leadership’s budget ax. The column on the right is the cost to specified tax breaks.



To Read the Discussion of the Facts/Figures and to Review the Sources for the Results/Chart

Dana Milbank: Ron Paul's economic Rx -- A Southern secessionist

Ron Paul's economic Rx: a Southern secessionist
by Dana Milbank
Washington Post

The Republican takeover of the House put a chairman's gavel in the hands of Rep. Ron Paul of Texas, the gadfly GOP presidential candidate with a cult following. On Wednesday, he used that gavel for the first time - to remarkable effect.

The hearing itself was lively - based on Paul's desire to abolish the Federal Reserve and bring back the gold standard - but what really stood out was Chairman Paul's leadoff witness: a Southern secessionist.

The "short bio" the witness provided with his testimony omitted salient pieces of his resume, including his 2006 book, "Lincoln Unmasked: What You're Not Supposed to Know About Dishonest Abe." But the subcommittee's ranking Democrat, William Lacy Clay (Mo.) did some homework and learned more about the witness, Thomas DiLorenzo of Loyola University Maryland.

DiLorenzo, the congressman told the committee, had called Lincoln "the first dictator" and a "mass murderer" and decreed that "Hitler was a Lincolnite." Worse, Clay charged, "you worked for a Southern nationalist organization." "The League of the South is a neo-Confederate group that advocates for a second southern secession and a society dominated by European Americans."

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