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The New York Times reports that President Obama and Speaker Boehner (R-OH) are nearing a deal on a sweeping deficit reduction package they both may have a difficult time selling to their respective parties. The deal to avert a government shutdown in less than two weeks calls for $3 trillion in savings from substantial spending [...]/p

via Morning Briefing: July 22, 2011.

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Why you can’t trust conservative deficit warriors: Remembering the George Bush budget of 2001

Crooks and Liars- By John Amato
April 18, 2011 09:00 AM

As we are witnessing, the Beltway media are pushing the theme of that we need to cut, cut, cut, so that our national debt can be lowered. They call this “shared sacrifice” — though it’s clear that they won’t be sharing in the sacrifice. The rest of us will.

This is a common assumption that news pundits are weaving into their narratives every day. The Democrats and President Obama have also embraced this idea and shifted the goal posts to the right of center. Austerity rules, even though it’s proved to be anything but effective. If we look at what’s happening in the UK now, and remember what happened under FDR when the deficit hawks stepped in to curtail the federal government, it’s clear that this nonsensical approach to budget writing just makes economic recovery regress.

To many of us watching the wealthy thrive in this economy while the working class struggles is very frustrating. I’m starting to finally hear some pundits question the wisdom of why Republicans refuse tax increases and instead push for more tax breaks for the rich at this time when they are already wealthy. Bob Schieffer asked Paul Ryan that yesterday on FTN.

There is one thing certain, though: The Bush budgets, and especially the tax cuts that accompanied them, caused catastrophic harm to our country and to the world. Paul Ryan wants to continue the work that Bush, Cheney and Rove started. Well, here’s a flashback to what George Bush  told America in 2001.

MORE HERE

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