spending Archives - The Minnesota Sun

Commentary: Price Stability, not Inflation, Will Get the U.S. Economy Back to Full Employment Sooner Rather than Later

May 18, 2021May 17, 2021 Minnesota Sun Staff

2020 and 2021 are two sides of the same coin: Price instability brought about by the dollar being either relatively too strong or too weak, which can lead to or exacerbate economic slowdowns, creating higher unemployment and worse if the conditions persist for too long.

In 2020, at the height of the Covid pandemic, the problems included the global economy being shut down plus local lockdowns resulting in a massive recession and a flight to safety into U.S. treasuries as interest rates collapsed, making the dollar too strong. With the onset of deflation, consumer prices plummeted in March and April 2020, with oil even dropping briefly below zero dollars for the first time in history, and a concurrent rise of unemployment as 25 million Americans lost their jobs.

Biden’s ‘American Jobs’ Plan Could Cost Taxpayers about $666,000 per Job Created

April 12, 2021April 11, 2021 Minnesota Sun Staff

President Joe Biden and VP Kamala Harris

President Joe Biden’s proposed $2 trillion American Jobs Plan could end up costing taxpayers more than $666,666 per job created.

The Washington Post gave Biden “two Pinocchios” for saying the American Jobs Plan, his infrastructure and jobs proposal, will create 19 million jobs. Both Biden and his Transportation Secretary Pete Buttigieg have made the 19 million jobs claim. The source of the statement is a Moody’s analysis, which CNN pointed out had estimated the U.S. economy would add about “16.3 million jobs over the same period if the infrastructure proposal does not get passed.”

New House Rules Carve-Out for ‘Climate Change’ Bills Exempted from Requiring Projected Price Tag

January 5, 2021January 4, 2021 Admin

House Democrats blocked a Republican attempt on Monday to require any proposed climate change legislation to also include its projected cost.

Under the Pay As You Go (PAYGO) rule, any additional government spending proposed must be accompanied by tax increases or separate cuts. After a push from several lawmakers in the Democratic Party’s progressive wing, however, the rules package for the 117th Congress states PAYGO will not apply to legislation relating to the necessary economic recovery or U.S. efforts to combat climate change.

Armstrong Williams Commentary: It’s Time to Talk About Recession

July 1, 2020June 30, 2020 Minnesota Sun Staff

Is America in a recession? It’s an unpopular question to ask, but it has now been over 3 months since COVID-19 restrictions were initiated and it is time for us to get realistic about where we are economically so that we can take the proper steps to minimize further damage to our economy. At this point, the unfortunate reality is that regardless of what we do, it is likely that it will take at least several years to see a partial recovery of economic loss and the time that it will take for a complete recovery remains unknown at this point.

Minnesota’s Legislative Deadline Passes with No Agreement on Infrastructure Proposal

May 19, 2020May 19, 2020 Minnesota Sun Staff

The Minnesota legislature failed to reach agreements on a major construction bill, tax relief, or state employee contracts before the midnight Sunday deadline for this session.

The lawmakers could still find a middle ground in a special June session.

Minnesota House Republicans Saturday blocked Democrat’s $2 billion bonding bill. Bonding bills must originate in the House and require a three-fifths majority, or 81 votes, to pass. The final tally fell six votes short.

Minnesota House Falls Short of Passing Mammoth $2.5 Billion Infrastructure Package

May 18, 2020May 18, 2020 Minnesota Sun Staff

A two-and-a-half billion dollar infrastructure spending package – touted as a top priority for 2020 by the DFL-controlled Minnesota House – fell short of the necessary three-fifths supermajority of votes needed Saturday.

With a final count of 75-58 along party lines the measure missed by a scant six votes.

Commentary: Alexis de Tocqueville’s Lessons in a Time of Pandemic

April 6, 2020April 5, 2020 Minnesota Sun Staff

The immediate challenge of COVID-19 has been cast as an examination of how individual Americans will fare should they be exposed to the virus. The effort to arrest the spread of the virus has brought unprecedented changes in the daily routines of all Americans. The limitation of activity is apparent when one walks outside. There is a marked silence, regardless of the time of day, almost eerie, that gives one pause.

The check on movement is accompanied by images of field hospitals and graphs showing curves and spreads displayed across news sites. While many are changing their daily routines to comply with the requirements of staying at home and practicing social distancing, a broader concern is the effect on our American democratic foundation.

Commentary: The U.S. Economy Will Weather the Chinese Coronavirus

March 17, 2020 Minnesota Sun Staff

President Donald Trump praised the Federal Reserve for cutting the federal funds rate to a range of 0 percent to 0.25 percent, and restarting quantitative easing with $500 billion of U.S. treasuries purchases and $200 billion of mortgage purchases in response to the Chinese coronavirus global pandemic.

“It makes me very happy and I want to congratulate the Federal Reserve,” he said. “That’s a big step and I’m very happy they did it.” Trump has been hounding the Fed for years to cut interest rates to make the dollar more competitive against trading partners’ currencies including the yuan, euro and peso. Now he gets his wish.

One Aspect of Trump’s New Budget Proposal Targets Waste, Fraud: Report

February 11, 2020February 11, 2020 Minnesota Sun Staff

One initiative in President Donald Trump’s fiscal 2021 budget, to be presented to Congress Monday, targets waste, fraud and abuse of taxpayer money.

States Across the Boards Plan to Increase Spending in Fiscal 2020

January 1, 2020December 31, 2019 Minnesota Sun Staff

State lawmakers nationwide are spending more money, but they are also replenishing rainy day funds in preparation for the next economic downturn, a new report determined.

Report: Government Wasted $230 Million on Failed Programs

December 2, 2019December 1, 2019 Minnesota Sun Staff

The U.S. government spent $33.9 million of taxpayer money on unused textbooks for Afghani children. The books are still sitting in decaying storage units in Afghanistan. American taxpayers also spent $16 million to improve the quality of Egyptian education.

Commentary: Skyrocketing Debt Too Important to Be Paired With Spending Deal

May 23, 2019May 22, 2019 Minnesota Sun Staff

by Justin Bogie Two major issues that Congress will be forced to confront in the coming weeks and months are the debt limit and the future of the Budget Control Act discretionary spending caps. A report from The Hill indicates that negotiations are underway between Congress and the Trump…

Lawmakers Eye a Huge Backdoor Spending Increase

April 16, 2019April 15, 2019 Minnesota Sun Staff

by David Ditch Members of Congress are promoting the concept of changing three programs from the discretionary category (requiring annual appropriations) into mandatory (auto-pilot) spending. Such changes would become a huge backdoor spending increase. Spending limits have come under relentless attack from both parties. In 2013, 2015, and 2018,…

Rick Manning Commentary: President Trump Versus Washington’s Spending and the Constituencies Who Fight for Them

March 19, 2019March 18, 2019 Minnesota Sun Staff

by Rick Manning In Washington, D.C., every spending program and tax break has a constituency that fights for it. This is why they exist, because somewhere, someone believes that Warren Buffett needs a wind production tax credit, and that opera programming should be taxpayer funded. These constituencies are tightly…

President Trump’s Executive Order Freezing Federal Pay Saves Taxpayers from Double-Digit Pay Increases

January 1, 2019December 31, 2018 Minnesota Sun Staff

by Rachel Greszler President Donald Trump issued an executive order effectively freezing federal pay for 2019 at current 2018 levels. Had the president not issued this executive order (and lacking congressional action on federal pay), federal workers would have received a 2.1 percent across-the-board pay increase, as well as a…

Commentary: Only Two Weeks Left for Republicans to Get It

December 9, 2018December 8, 2018 Admin

by Rachel Bovard There’s only one area where bipartisanship still reigns in Washington: avoidance. Republican and Democrat leaders this week held hands and used the funeral events for President George H. W. Bush as an excuse to move their funding deadline—which previously expired on December 7—two weeks forward, to December…

Chuck Schumer Demands Climate Concessions From Trump on Infrastructure Spending

December 9, 2018December 8, 2018 Admin

by Michael Bastach Senate Minority Leader Chuck Schumer told President Donald Trump that Democrats won’t cut a deal with him on infrastructure spending unless it includes a slew of policies aimed at fighting global warming. Schumer, the Senate’s top Democrat, called for, among other things, making green energy and…

REPORT: EPA Paid $14.5 Million For Foreign Nationals, Not Americans, To Work In Government Labs

September 28, 2018September 27, 2018 Admin

by Michael Bastach The Environmental Protection Agency (EPA) paid $14.5 million to foreign nationals to work at agency laboratories over the past 11 years that could have been awarded to U.S. citizens and permanent residents, according to federal investigators. EPA’s Office of Inspector General (OIG) found the agency’s cooperative…

Deceptive Tricks Congress Uses to Drive Spending Higher

September 24, 2018September 23, 2018 Admin

by Justin Bogie Congress is up to its old tricks again, trying to pass another massive spending bill that uses gimmicks and tricks to push deficit spending even higher. And it thinks it can hoodwink President Donald Trump into signing it. Next week, the House is expected to vote on…

Three Budget ‘Reforms’ That Would Make Matters Worse, Not Better

August 8, 2018August 7, 2018 Admin

by Dody Eid and Romina Boccia A congressional select committee on reforming the budget process recently held another public hearing, supposedly with the ultimate aim of designing a more transparent, accountable, and responsible budgetary process. Any such changes should also re-establish and enhance Congress’ power of the purse. But if those are…

Commentary: Trump, Reagan, and Big Government

July 29, 2018July 29, 2018 Admin

by Jeffery Rendall As I strolled through the excellent and memory-provoking exhibits at the Ronald Reagan Presidential Library (in Simi Valley, CA) the other day I was struck by how similar President Donald Trump’s approach to today’s politics is to the way Ronald Reagan handled the subject a half…

‘Pig Book’ Spotlights 232 Earmarks Amid Pork That Wastes Taxpayers’ Money

July 22, 2018July 21, 2018 Admin

by Katherine Rohloff All but a relative few farmers and other rural residents have had electricity and telephone service for a generation, but the U.S. government devoted $10 million in the current budget to a duplicative Rural Utilities Service program designed to help pay for energy costs. Taxpayers continue to finance the…

Commentary: The Ticking Fiscal Time Bomb Set in 1937 Could Tip America Into Despotism by 2030

July 13, 2018July 12, 2018 Admin

by Robert Osburn Celebrated this past July 4, America’s founding story of freedom is truly remarkable: unity, courage, integrity, and national integration (incorporating people from around the world). In most other places, the freedom story is bloody, exclusive, and, ultimately, tyrannical. Take Nicaragua, for one example: In 1979, the Sandinistas…

Senate Fails to Pass the Rescission Package

June 23, 2018June 22, 2018 Admin

By Printus LeBlanc When President Donald Trump signed the omnibus spending bill back in March, he did so reluctantly. The swamp knew the President’s feelings for the military and hid behind them to fill the omnibus with wasteful spending. The President signed it, hoping some of the spending would be…

Trump’s ‘Rescission’ Package Would Save Unspent Tax Dollars

May 9, 2018May 8, 2018 Admin

by Justin Bogie President Donald Trump on Tuesday submitted a special message to Congress requesting that $15 billion in unspent funding be rescinded. That’s a good first step toward re-establishing fiscal responsibility. Congress should embrace it and quickly adopt the president’s rescission package. Still, the package does nothing to claw back the…