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New Jersey is the 8th Least Affected by the Government Shutdown – WalletHub Study

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the staff of the Ridgewood blog 

Ridgewood NJ, With the U.S. government closed for business for the 21st time since 1976, this time with a partial shutdown, the personal-finance website WalletHub today released its report on the States Most & Least Affected by the 2019 Government Shutdown to add some hard data to all the rhetoric.

WalletHub compared the 50 states and the District of Columbia in terms of five key metrics, ranging from each state’s share of federal jobs to federal contract dollars per capita to the share of families receiving food stamps.

Impact of the Government Shutdown on New Jersey (1=Most Affected, 25=Avg.):

45th – Share of Federal Jobs
31st – Federal Contract Dollars Per Capita
39th – Access to National Parks
43rd – % of Families Receiving SNAP (Food Stamps)

To view the full report, please visit:
https://wallethub.com/edu/government-shutdown-report/1111/

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President Trump’s Taxpayer First Budget

Trump thumbs up
May 23,2017

the staff of the Ridgewood blog

Ridgewood NJ, President Trump’s first proposed budget shows respect for the people who pay the bills. The administration’s “Calvin Coolidge style” proposal reverses the damaging trends from previous administrations by putting our nation’s budget back into balance and reducing our debt through fiscally conservative principles, all the while delivering on President Trump’s campaign promise not to cut Social Security retirement or Medicare. The budget’s combination of regulatory, tax, and welfare reforms will provide opportunities for economic growth and creation.

Trump Budget Facts:

President Trump’s budget is designed to put the taxpayer first, create jobs, and build economic growth.

President Trump’s budget finally balances the Federal budget and turns the deficit into a $16 billion surplus by 2027.

President Trump’s budget makes national defense a top priority by increasing defense spending by $54 billion.

President Trump’s budget increases funding for the Department of Veterans Affairs by $4.3 billion.

President Trump’s budget puts Americans’ safety first by providing $2.6 billion in increased funding for border security.

President Trump’s budget balances the budget and makes no cuts to either Medicare or Social Security retirement.

President Trump’s budget provides national paid family leave for the first time in the history of this country.

President Trump’s budget helps American families by implementing the first national paid family leave initiative.

President Trump’s budget saves the American people billions of dollars through welfare and regulatory reform.

President Trump’s budget sees a decline in debt as a percentage of GDP every year in the budget window.

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Budget Committee Agrees to Garrett Amendment to Ensure Spending Cuts

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Mar 17, 2016

the staff of the Rmidgewood blog

Ridgewood NJ,  Rep. Scott Garrett (NJ-05), a senior member of the House Budget Committee, issued the following statement after the House Budget Committee passed his amendment to encourage House leadership to find $30 billion in cuts in future fiscal bills. Garrett’s amendment was the only amendment that was adopted by the committee. The budget was ultimately reported out of committee with Garrett’s support.

“During the House Budget Committee markup, almost every one of my colleagues recognized that our national debt is approaching $20 trillion and we need to act now. That’s why I’m pleased that my colleagues on the committee and Speaker Ryan were supportive of my amendment to make sure that the House will vote on additional spending cuts. It’s an uphill battle, but these are the fights the American people are expecting us to have, and I’m proud to be at the forefront of this serious debate.”

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Garrett: President’s budget reads like a how-to guide for debt, deficit, and taxes

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February 16,2016
the staff of the Ridgewood blog

Ridgewood Nj, Rep. Scott Garrett (NJ-05), a senior member of the House Budget Committee, released the following statement after President Obama unveiled his Fiscal Year 2017 budget proposal to Congress today:

“President Obama’s budget proposal reads like a how-to book on creating debt, raising taxes, and crippling the economy. Unfortunately, the final edition of this wildly unpopular story is full of broken budget policies that hurt New Jersey families and—spoiler alert—it still never balances. And as soon as hardworking families were starting to feel some relief at the fuel pump, the president’s budget proposes a new tax on oil that will increase costs for all Americans.

“It’s unfortunate that, after years of an underperforming economy and a nearly $20 trillion national debt, the president still feels that the best solution is more spending and higher taxes. I’ll continue to fight to rein-in wasteful spending and create a government that is efficient, accountable, and effective so everyone can have the opportunity to get ahead.”

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Scott Garret Says NO to selling Out America

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Garrett: New Jersey families are frustrated with Washington because of spending bills like this one
Dec 18, 2015
the staff of the Ridgewood blog

WASHINGTON, D.C. – Rep. Scott Garrett (NJ-05), a senior Member of the House Budget Committee, issued the following statement after voting against the $1.1 trillion omnibus spending bill:

“While I strongly support provisions that provide health care to 9/11 first responders and address key vulnerabilities in how we issue visas to foreign visitors, this bloated $1.1 trillion spending bill doesn’t do enough to address our nation’s crippling debt, protect civil liberties, nor strengthen our national security and, therefore, I could not support it. New Jersey families are frustrated with Washington because of spending bills like this that are 2,000 pages long, include new surveillance provisions which were inserted in the middle of the night, lack adequate security from the threat of terrorists seeking to cross our borders, and add to the nearly $20 trillion national debt that is hindering our economy.”

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Rush : disband the Republican Party, and let the Democrats run it, because that’s what’s happening anyway.

head-in-sand-gop_theridgewoodblog

GOP Sells America Down the River
December 17, 2015

RUSH: The country was just sold down the river again by your very Republican Party.

I have a headline here from the Washington Times: “White House Declares Total Victory Over GOP in Budget Battle.” That headline’s a misnomer. There was never a battle. None of this was opposed. The Republican Party didn’t stand up to any of it, and the die has been cast for a long time on this. I know many of you are dispirited, depressed, angry, combination of all of that. But, folks, there was no other way this could go. Because two years ago when the Republican Party declared they would never do anything that would shut down the government and they would not impeach Obama, there were no obstacles in Obama’s way and there were no obstacles in the way of the Democrat Party.

When you surrender the power of the purse — and that’s the primary power the House of Representatives has. Not a penny of money can be spent in this country by this government without the House of Representatives authorizing it. Obama can spend all he wants, but if the House doesn’t give him the mechanism, he can’t spend any of it. But the Republicans squandered that. They gave up the power of the purse. The reason they did that is because for some inexplicable reason, they are literally paranoid and scared to death of even being accused of doing something that would shut down the government.

So to avoid even the accusation that they were going to or would ever even think of shutting down the government, they signaled that whatever Obama wanted to spend, he would get, because they figured that had less damage to them politically than the allegation that they were shutting down the government. So, very simply, ever since the Republican Party became the party of keeping the government open at all costs, we get bills like this. There’s simply no stopping the Democrats. There’s no mechanism. Every constitutional mechanism found in the power of the purse, Separation of Powers, the Republican Party years ago gave it away, in total fear of the media.

Now, there’s also a factor that needs to be mentioned, too, and that is that many Republican donors want every bit of this money spent, and they have donated voluminously to key Republicans in order to get the money spent. So it’s not all Republican fears. It’s not all Republican caving. A lot of it is Republican fealty and loyalty to some of their donors. Some people today looking at this, and this is 2,009 pages. It’s said to be a spending bill. Among the things that it does, it fully funds Obamacare.

http://www.rushlimbaugh.com/daily/2015/12/17/gop_sells_america_down_the_river

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The Paul Ryan Compromise, Christmas Gifts for All

The new speaker’s first big deal is just like all of the ones that infuriated conservatives under Boehner.

By Jim Newell

When Paul Ryan was handed the speaker’s gavel in late October, he pledged to restore normal order to the People’s House and eliminate the sort of backroom deals that rank-and-file members complain are shoved down their throats at the 11th hour. So, late Tuesday night, Ryan unveiled a few thousand pages of consequential tax, spending, and regulatory legislation costing roughly $2 trillion and gave Congress and the public two whole days to review everything.

JIM NEWELL

Jim Newell is a Slate staff writer.

To be fair to Ryan, the buzzer-beating legislating has more to do with the workload and deadlines John Boehner left him than anything he did wrong. The agreement Ryan reached with fellow congressional negotiators also looks much like one Boehner would have reached: Each side scores some points, but Republican congressional majorities again will fail to deliver a high-profile, base-pumping, ideological victory over some nefarious aspect of the “Obama agenda” on which conservatives had drawn a red line. Will this land Ryan in the same hot water that eventually cooked Boehner? He’ll get a pass, for now.

The two towering paper stacks are the 2016 omnibus appropriations package, which funds the government through next September, and a “tax-extenders” bill that, well, extends (and in many cases makes permanent) a bunch of tax breaks that were set to expire. Though they will be voted on separately, they were negotiated together. The omnibus is more favorable to Democrats, and the tax extenders are more favorable to Republicans.

http://www.slate.com/articles/news_and_politics/politics/2015/12/paul_ryan_s_first_deal_is_just_like_john_boehner_s_old_ones.html

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Congress postpone the “Cadillac tax” on expensive healthcare plans

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Speaker Paul Ryan told colleagues that a major tax package agreed to by leaders in both chambers will postpone the “Cadillac tax” on expensive healthcare plans and place a two-year moratorium on the medical device tax, two critical sources of revenue for ObamaCare.

By Scott Wong,Mike Lillis and Alexander Bolton – 12/15/15 09:55 PM EST

Speaker Paul Ryan (R-Wis.) announced to the House Republican Conference on Tuesday night that leaders have reached a sweeping year-end deal on taxes and funding the government after days of intense negotiations.

The full text of the 2009-page omnibus bill was posted online early Wednesday morning at about 1:30 a.m.

The delayed posting of the omnibus text means that in order to adhere to the so-called “three-day rule,” House GOP leaders will have to wait until Friday to hold a vote on the legislation.

Lawmakers had exited a Tuesday night House GOP conference meeting with the expectation of voting Thursday on the spending package. But Ryan is unlikely to want to waive the self-imposed rule less than two months into his speakership on such a massive bill, meaning the vote will likely slip to Friday.

In the meantime, the House and Senate are expected to easily clear another stopgap measure to keep the government funded through Dec. 22. Current funding expires Wednesday night.

Ryan unveiled the details of the agreement while the political world was fixated on the fifth GOP presidential debate in Las Vegas.

He told colleagues that the spending bill will postpone the “Cadillac tax” on expensive healthcare plans and the tax package will place a two-year moratorium on the medical device tax, two critical sources of revenue for ObamaCare.

http://thehill.com/homenews/senate/263374-leaders-clinch-deal-to-push-back-obamacare-taxes

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The Legacy of Debt: Interest Costs Poised to Surpass Defense and Nondefense Discretionary Spending

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BN-GT738_ristid_G_20150203110744

The Legacy of Debt: Interest Costs Poised to Surpass Defense and Nondefense Discretionary Spending

By JOSH ZUMBRUN

The U.S. has come a long way since the days of trillion-dollar deficits, just a few years ago. The White House projects 2016 will have the smallest budget deficit in eight years. Yet the budgetary impact of the debt that’s been accumulated–$18 trillion in total, $13 trillion of that owed to the public–will reassert itself.

Currently, the government’s interest costs are around $200 billion a year, a sum that’s low due to the era of low interest rates. Forecasters at the White House and Congressional Budget Office believe interest rates will gradually rise, and when that happens, the interest costs of the U.S. government are set to soar, from just over $200 billion to nearly $800 billion a year by decade’s end.

http://blogs.wsj.com/economics/2015/02/03/the-legacy-of-debt-interest-costs-poised-to-surpass-defense-and-nondefense-discretionary-spending/?mod=WSJ_hpp_MIDDLENexttoWhatsNewsForth

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White House: Deficit Will Increase 20% This Year (Despite Record Tax Revenue)

Obama-Golf

Obama-Golf

White House: Deficit Will Increase 20% This Year (Despite Record Tax Revenue)

February 3, 2015 – 12:00 PM

(CNSNews.com) – The data that the White House published with President Obama’s fiscal 2016 budget proposal yesterday indicate that the federal deficit will increase by 20 percent during this fiscal year (2015) even though the administration predicts the Treasury will bring in record revenue during the year.

According to Table S-1 in the “Summary Tables” appendix to the Obama budget, the deficit was $485 billion in fiscal 2014 and will be $583 billion in fiscal 2015—an increase of $98 billion, or 20.2 percent.

The federal fiscal year begins on Oct. 1 and ends on Sept. 30.

In fiscal year 2015, according to the Obama budget tables, the federal government will take in $3.176 trillion in tax revenue and spend $3.759 trillion.

The $3.176 trillion in tax revenues the White House estimates the federal government will bring in this year is a record in both current and inflation-adjusted dollars.

According to the White House Office of Management and Budget’s historical table that shows federal tax receipts and outlays in constant 2009 dollars, fiscal 2015 federal receipts will equal $2.8952 trillion in constant 2009 dollars.

http://www.cnsnews.com/news/article/terence-p-jeffrey/white-house-deficit-will-increase-20-year-despite-record-tax-revenue