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The Bullpen

27 Jul 2011

Elizabeth Warren to Leave Treasury on August 1

Elizabeth Warren hinted at this last week when Richard Cordray was named as the nominee to run the Consumer Financial Protection Bureau, but now it’s official – she will leave her position as a counselor to Treasury and Assistant to the President on August 1. And rather than Cordray, the

27 Jul 2011

CBO Analysis of Reid Plan Shows It’s Even More Similar to Boehner’s

We now have a CBO report on Harry Reid’s plan, and what once again sticks out is the extreme similarities with John Boehner’s. Remember that the Boehner plan had discretionary spending caps, a “Super Congress” committee to recommend deficit reduction, spending on program integrity for several programs, increases in Pell

27 Jul 2011

Boehner Debt Limit Plan Has More Concrete Spending in It Than Spending Cuts

The CBO report on John Boehner’s debt limit plan has really set back the effort and probably poisoned the entire enterprise among the more conservative members of his caucus. But it did provide some key information. First of all, take a look at CBO’s summary of the Boehner plan. It

26 Jul 2011

The Roundup for July 26, 2011

How’s doomsday going in your neighborhood? • CBO gave a fairly poor assessment of the Boehner debt limit plan that gets a vote tomorrow, saying that it only reduces deficits $850 billion over ten years, from the March baseline. It reduces more based on January, but March is current law.

26 Jul 2011

Lew Insists That August 2nd Is Drop-Dead Date on Debt Limit

The New York Stock Exchange dropped today, but by a relatively piddling amount, as the markets still have given no indication that they will yet punish Congress for failing to pass a debt limit deal. NASDAQ even gained a few points. The market may be pricing in the fact that

26 Jul 2011

White House Issues Veto Threat on Boehner Debt Limit Plan

The White House offered a brief riposte to John Boehner’s two-stage plan to raise the debt limit and cut the deficit. Here it is in its entirety: STATEMENT OF ADMINISTRATION POLICY S. 627 – Budget Control Act of 2011 The Administration strongly opposes House passage of the amendment in the