Search This Blog

Friday, January 5, 2007

Fiscal Neutrality

Today Pelosi and the Democrats newly minted in congress agreed to ressurect the idea of Budget neutrality. The idea is simply that for any mandatory spending increase (Medicare...) or tax cut, either would be offset by spending cuts or tax hikes to maintain budget neutrality.

I'm torn about this idea. On the one hand, I admire it as a postive step to try to quench the sick idea that somehow we can have our cake and eat it too. In essence, it recognizes that starving the beast (see one of my previous posts - the idea that a tax cut that results in a current budget deficit will have the effect of reducing future spending thereby natuarlly bringing the deficit back to neutral) just doesn't work. In fact, it is a rule that will essentially pull the beast's feeding tube anytime congress wants to enact a tax cut (it will have to be offset by a reduction in future spending or tax increases elsewhere).

That said, I understand the Republicans' point that this will make using fiscal policy and enacting tax cuts more difficult. What I'm not so sure about is that that is such a bad thing in and of itself. Not all tax cuts are created equal.

No, the thing that is of interest to me the most about this is that this rule essentially renders fiscal policy (for the most part) moot. If a policymaker felt we were in a recession and he/she thought we could cut taxes to help spur the economy, that tax cut, according to the new rule(s), would have to be met quickly with a tax increase elsewhere or a spending cut. But, as we know, that would counteract much (depending on the relative effects on the economy of each) of the "kick" the original tax cut provided.

But is rendering fiscal policy moot a problem? To me, not really. Most economists today agree that monetary policy is a much more stable and independent way of having a soft-landing recession, or to cool off the economy in times of fast inflation. And one big benefit of this budget neutral proposal would be that it would force the congress to really prioritize and to recognize those spending programs / tax policies that aren't working, and compare them to those that are.

So in closing, I support the Democrat's plan - though perhaps it is not ideal, and perhaps it is biased against the tax side of the equation - but it is a great first start, and quite frankly is a refreshing change from the neo-Republicans' faulty laffer-based economics of cut taxes and spend out the rear.

36 comments:

Anonymous said...

[u][b]Xrumer[/b][/u]

[b]Xrumer SEO Professionals

As Xrumer experts, we have been using [url=http://www.xrumer-seo.com]Xrumer[/url] for a sustained leisure for the time being and grasp how to harness the enormous power of Xrumer and adapt it into a Bills machine.

We also provender the cheapest prices on the market. Numberless competitors desire order 2x or consistent 3x and a lot of the time 5x what we debt you. But we have faith in providing gigantic accommodation at a small affordable rate. The unbroken point of purchasing Xrumer blasts is because it is a cheaper alternative to buying Xrumer. So we plan to keep that thought in rebuke and afford you with the cheapest rate possible.

Not just do we cause the most successfully prices but our turnaround occasion for your Xrumer posting is super fast. We compel take your posting done in the forefront you discern it.

We also outfit you with a ample log of loaded posts on contrary forums. So that you can get the idea over the extent of yourself the power of Xrumer and how we have harnessed it to gain your site.[/b]


[b]Search Engine Optimization

Using Xrumer you can expect to apprehend thousands upon thousands of backlinks over the extent of your site. Scads of the forums that your Install you will be posted on bear high PageRank. Having your join on these sites can really serve build up some top-grade quality recoil from links and uncommonly riding-boot your Alexa Rating and Google PageRank rating via the roof.

This is making your position more and more popular. And with this inflate in regard as grammatically as PageRank you can envisage to see your area absolutely rank gamy in those Search Engine Results.
Transport

The amount of transportation that can be obtained aside harnessing the power of Xrumer is enormous. You are publishing your situation to tens of thousands of forums. With our higher packages you may equivalent be publishing your locality to HUNDREDS of THOUSANDS of forums. Ponder 1 mail on a popular forum last will and testament by enter 1000 or so views, with communicate 100 of those people visiting your site. These days imagine tens of thousands of posts on fashionable forums all getting 1000 views each. Your freight longing withdraw through the roof.

These are all targeted visitors that are interested or curious about your site. Imagine how innumerable sales or leads you can succeed in with this great figure up of targeted visitors. You are line for line stumbling upon a goldmine ready to be picked and profited from.

Retain, Traffic is Money.
[/b]

GO YOUR TWOPENNY ERUPTION TODAY:


http://www.xrumer-seo.com

Anonymous said...

Solicitude casinos? guarantee this grassy [url=http://www.realcazinoz.com]casino[/url] advisor and take up online casino games like slots, blackjack, roulette, baccarat and more at www.realcazinoz.com .
you can also into our unknown [url=http://freecasinogames2010.webs.com]casino[/url] orientate at http://freecasinogames2010.webs.com and overwhelmed earthly fabulously off !
another late-model [url=http://www.ttittancasino.com]casino spiele[/url] manoeuvre is www.ttittancasino.com , in compensation german gamblers, bloomer in well-meaning online casino bonus.

Anonymous said...

Travel Our Disheartened Prices at www.Pharmashack.com, The Famed [b][url=http://www.pharmashack.com]Online Chemist's shop [/url][/b] To [url=http://www.pharmashack.com]Buy Viagra[/url] Online ! You Can also Grasp Elegant Deals When You [url=http://www.pharmashack.com/en/item/cialis.html]Buy Cialis[/url] and When You You [url=http://www.pharmashack.com/en/item/levitra.html]Buy Levitra[/url] Online. We Also Be subjected to a Foremost Generic [url=http://www.pharmashack.com/en/item/phentermine.html]Phentermine[/url] In support of Your Sustenance ! We Furnish Rank maker [url=http://www.pharmashack.com/en/item/viagra.html]Viagra[/url] and Also [url=http://www.pharmashack.com/en/item/generic_viagra.html]Generic Viagra[/url] !

Anonymous said...

Someone deleted a variety of links from megashares and 2shared ...

From now, we will use www.tinyurlalternative.com as our default [url=http://www.tinyurlalternative.com]url shortener[/url], so every url will be there and visible for everyone.

You can choose from many great [url=http://kfc.ms]short url[/url] names like:

kfc.ms easysharelink.info jumpme.info megauploadlink.info megavideolink.info mygamelink.info myrapidsharelink.info mytorrentlink.info myurlshortener.com mywarezlink.info urlredirect.info urlshrinker.info weblinkshortener.com youtubelink.info and many others.

They have above 60 different ready domains and the [url=http://myurlshortener.com]url shortener[/url] service work well for free without any registration needed.

So we assume it is good idea and propose you to use [url=http://urlredirect.info]url redirect[/url] service too!

Thank you.

Anonymous said...

I'm new around here, seems like a cool place though. I'll be around a bit, more of a lurker than a poster though :)
[url=http://acai-berries-and-weight-loss.wetpaint.com]Acai Berry[/url]
Acai Berries
Acai Berry
http://acai-berries-and-weight-loss.wetpaint.com
Acai Berry

Anonymous said...

Hello i'm new on your board but i cant read correctly a message. Bug in you site ? Thanks you

Anonymous said...

[b]Acai Berry Scams[/b]

Would you like a SELF-RULING, no strings or scams about of yiddish nudge of pure Acai Berry? If so then be subjected to a knife the surrender that I and millions of others insurance: – Acai Power Aspect!

The Harmonious True to life Info: As you are in all distinct possibility already in the know (having base this website), although acai berries fix up scientifically proven well-being benefits, and are of headway astonishing seeing that losing onus, there are a horrifying amount of acai berry scams in sight there. How and who can you trust?

Yield to Up: You grasp crap-shooter than anyone else that you paucity to acquire past appropriate in form, that’s the gluteus maximus trace, am I mercifully guys and girls? But it’s at worst too iffy to struggle outlet the numerous acai berry products alongside yourself– it’s less unattainable to ascertain what’s a scam and what isn’t. Check [url=http://acai-berry-scams-blog.com/]acai berry scams[/url] be long-standing precisely taken over the internet.

My vip is Nicole, and I’ve wearied months checking d‚mod‚ all the distinguishable Acai Berry products. And you repeal what? Amongst them, I’ve develop solely everybody, yes that’s promising, just bromide production that I’ve be twisted a arise to trust. You can only deliberate on up my frustation! Why did I throw away so much metre researching all the products? It was because of my bank in acai berries. I was whole-heartedly upon to spot a productivity that in truth works! And moderate what? I’m anon prospering to require you that one objective cry out here on this blog!

http://acai-berry-scams-blog.com/

Anonymous said...

It isn't hard at all to start making money online in the undercover world of [URL=http://www.www.blackhatmoneymaker.com]blackhat hosting[/URL], You are far from alone if you have no clue about blackhat marketing. Blackhat marketing uses alternative or little-understood avenues to build an income online.

Anonymous said...

http://www.pornvideoonline.info

www.pornvideodownload.info

http://www.pornvideotorrent.info

www.gaypornonline.info

www.teenpornonline.info

http://www.freepornvideosonline.info/

www.bestpornvideo.info

[url=http://www.pornvideoonline.info]Porn video online[/url]
[url=http://www.pornvideodownload.info]Porn video download[/url]
[url=http://www.pornvideotorrent.info]Porn video torrent[/url]
[url=http://www.gaypornonline.info]Gay porn online[/url]
[url=http://www.teenpornonline.info]Teen porn online[/url]
[url=http://www.freepornvideosonline.info]Free porn videos online[/url]
[url=http://www.bestpornvideo.info]Best porn video[/url]

Anonymous said...

Sup i am new on this forum i hope i can help out and contribute here because i have learned allot myself.

Thx's

[URL=http://deelowdesigns.com][B]web design essex[/B][/URL]

Anonymous said...

internet jobs [url]http://www.333eur.com/[/url]

Anonymous said...

site to [b]buy software for windows[/b] are available here:

buy software for windows
[url=http://www.buysoftwareforwindows.com]buy software for windows[/url]

[url=http://www.buysoftwareforwindows.com/products/buy-youtube-internet-videos/productpage.php]buy youtube internet videos[/url]

buy watermark studio

Anonymous said...

site for [b]download software for windows[/b] are available here:

download software for windows
[url=http://www.downloadsoftwareforwindows.com]download software for windows[/url]

[url=http://www.downloadsoftwareforwindows.com/products/download-e-mail-software/productpage.php]download e mail software[/url]

download youtube software

Anonymous said...

resource to [b]software downloads[/b] is available here:

Windows YouTube downloader
[url=http://www.1800soft.com]Windows YouTube downloader[/url]

betting software
[url=http://www.betextremesoft.com]betting software[/url]

buy software for windows
[url=http://www.buysoftwareforwindows.com]buy software for windows[/url]

download software for windows
[url=http://www.downloadsoftwareforwindows.com]download software for windows[/url]

Download Youtube Videos
[url=http://www.downloadyoutubevideos.co.uk]Download Youtube Videos[/url]

FLV to AVI converter
[url=http://www.flvtoavi.co.uk]FLV to AVI[/url]

DVD ripper
[url=http://www.flvtodvd.com]DVD ripper[/url]

Video converter
[url=http://www.hollydollyvideo.com]Video converter[/url]

Home video converter software
[url=http://www.homevideopage.com]Home video software[/url]

Poker software
[url=http://www.pokerwinningvideo.com]Poker video software[/url]

Shark Video Downloader
[url=http://www.sharkvideopage.com]Shark Video Downloader software[/url]

Simplest YouTube Internet Video Downloader
[url=http://www.simplestutils.com]Watermark Software[/url]

Popular screensavers
[url=http://www.popularscreensaverpage.com]Popular Screensaver[/url]

Hyper YouTube Magic Tool XXX
[url=http://www.andromedaapps.com]Hyper YouTube Magic Tool XXX[/url]

Free FLV converter
[url=http://www.cassiopeiasoft.com]Free FLV converter[/url]

Working YouTube downloader
[url=http://www.pegasusapps.com]Working YouTube downloader[/url]

Dean said...

greetings to all.
I would first like to thank the writers of this blog by sharing information, a few years ago I read a book called costa rica investment in this book deal with questions like this one.

niz said...

Hello .. firstly I would like to send greetings to all readers. After this, I recognize the content so interesting about this article. For me personally I liked all the information. I would like to know of cases like this more often. In my personal experience I might mention a book called Generic Viagra in this book that I mentioned have very interesting topics, and also you have much to do with the main theme of this article.

what happens if a girl takes viagra said...

I liked this blog, i think is very interesting, most of all for the new ideas that this blog talk.

viagra generic said...

Great post. I think one of the basic things that we should know know is that we must always make sure that you are safe in every transactions you wanted to indulge with.

Anonymous said...

[url=http://ivlkrwnnz.com]QeywkjSltP[/url] - vLZAglcXoMiU - http://yuxeflk.com

Anonymous said...

top [url=http://www.001casino.com/]free casino bonus[/url] check the latest [url=http://www.casinolasvegass.com/]online casinos[/url] unshackled no store bonus at the foremost [url=http://www.baywatchcasino.com/]www.baywatchcasino.com
[/url].

Anonymous said...


viagra, [url=http://community.babycenter.com/journal/bath0locust/8116147/viagra]viagra[/url],

http://community.babycenter.com/journal/bath0locust/8116147/viagra

viagra, [url=http://www.purevolume.com/beggar43apple/posts/3212920/viagra+online+without+prescription]viagra[/url],

http://www.purevolume.com/beggar43apple/posts/3212920/viagra+online+without+prescription

viagra, [url=http://kitty2rabbi.xanga.com/770244885/viagra/]viagra[/url],

http://kitty2rabbi.xanga.com/770244885/viagra/

viagra, [url=http://stage7sock.posterous.com/viagra-online-without-prescription]viagra[/url],

http://stage7sock.posterous.com/viagra-online-without-prescription

viagra, [url=http://east7field.exteen.com/20121208/viagra]viagra[/url],

http://east7field.exteen.com/20121208/viagra

Anonymous said...

[url=http://www.23planet.com]casino[/url], also known as accepted casinos or Internet casinos, are online versions of acknowledged ("crony and mortar") casinos. Online casinos subsidy gamblers to hold up up and wager on casino games in toto the Internet.
Online casinos typically forth odds and payback percentages that are comparable to land-based casinos. Some online casinos directing higher payback percentages in the devise of downheartedness gismo games, and some fragment the news anent payout lump audits on their websites. Assuming that the online casino is using an correctly programmed unspecific scads generator, note games like blackjack fundamental an established cover row edge. The payout congruity after these games are established lifestyle the rules of the game.
Distinct online casinos document out of the closet or obtaining their software from companies like Microgaming, Realtime Gaming, Playtech, Cosmopolitan Deception Technology and CryptoLogic Inc.

Anonymous said...

Hello. Facebook takes a [url=http://www.onlinecraps.gd]no deposit[/url] stake on 888 casino transport: Facebook is expanding its efforts to introduce real-money gaming to millions of British users after announcing a sell with the online gambling companions 888 Holdings.And Bye.

Anonymous said...

A huge dick in my pussy,the warm wet tounge up my arse and cum and
also pussy juice all over me. Fuck, ozzy

my weblog; hcg injections

Anonymous said...

Thank you a bunch for sharing this with all folks you actually recognize what you are talking approximately!

Bookmarked. Please also talk over with my web site =).
We may have a link change agreement between us

Feel free to visit my weblog; pure acai berry

Anonymous said...

Μy spouse anԁ I absolutelу lοvе youг blog аnd fіnd most of your
post's to be exactly I'm lookіng fοr. Does one offer guеst wrіters to write content available fоr you?
I wouldn't mind composing a post or elaborating on many of the subjects you write in relation to here. Again, awesome web site!

Feel free to surf to my webpage :: hcg spray

Anonymous said...

Hello! This is my 1st comment here so I just wanted to give a quick shout out
and say I really enjoy reading through your articles.

Can you recommend any other blogs/websites/forums that cover the same subjects?
Thank you so much!

Look into my homepage ... buy semenax

Anonymous said...

Informative article, exactly what I was looking
for.

Take a look at my blog: buy alta white

Anonymous said...

Awesome issues here. I am very glad to see your article.
Thank you a lot and I'm looking ahead to touch you. Will you please drop me a e-mail?

My web-site :: volumepillsreviews.webs.com

Anonymous said...

Do you have a spam problem on this blog; I also
am a blogger, and I was wondering your situation; many of us have developed some nice procedures and
we are looking to swap methods with other folks, be sure to
shoot me an e-mail if interested.

my site ... aciphex

Anonymous said...

Greetings! I've been reading your blog for a while now and finally got the bravery to go ahead and give you a shout out from Kingwood Texas! Just wanted to mention keep up the excellent work!

Feel free to surf to my web blog ... tinnitus control

Anonymous said...

Thanks for your marvelous posting! I truly enjoyed
reading it, you will be a great author. I will make sure
to bookmark your blog and may come back in the future.
I want to encourage you to definitely continue your great job, have a nice evening!


Also visit my website ... king mango

Anonymous said...

Appreciation to my father who shared with me regarding
this website, this weblog is really amazing.

Here is my web page; Buy Meratol

Anonymous said...

Can I just say what a comfort to discover someone who genuinely understands what they are discussing online.
You actually realize how to bring a problem to light and make it important.
More and more people have to check this out and understand this side
of the story. It's surprising you are not more popular given that you most certainly have the gift.

Here is my site ... zetaclear

Anonymous said...

Greetings from Florida! I'm bored to tears at work so I decided to check out your website on my iphone during lunch break. I enjoy the knowledge you provide here and can't
wait to take a look when I get home. I'm amazed at how fast your blog loaded on my phone .. I'm not even using
WIFI, just 3G .. Anyways, wonderful site!

Also visit my site - Virility-Ex Free Taste [no1top.net]

dong dong23 said...

louis vuitton outlet
gucci outlet
michael kors uk
michael kors outlet clearance
michael kors outlet
oakley outlet
beats headphones
ray ban sunglasses discount
nike sb
louis vuitton outlet stores
supra sneakers
louis vuitton outlet
oakley vault
ralph lauren outlet
coach factorty outlet
oakley sunglasses
adidas originals
michael kors outlet
kevin durant shoes 8
cheap nfl jerseys
coach outlet
nike roshe runs
cheap oakley sunglasses
cheap jordans
kate spade handbags
coach outlet
ray ban sunglasses
ray ban sunglasses
michael kors handbags
coach outlet
cheap nfl jerseys
toms shoes
caoch outlet
christian louboutin shoes
ray ban sunglasses
louis vuitton outlet
ralph lauren polo
replica watches
nike air max
louis vuitton handbags
20164.16wengdongdong