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Spending Cuts

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NEWS
May 31, 2011
It seems lost in the budget cutting news and rhetoric that significant cuts to private sector businesses are likely to occur as the federal, state, and local governments cut back on domestic spending across the board. Small and medium size businesses sell many goods and services to the government, and without necessary government spending, their private sector businesses (and accompanying employment) suffer also. These examples include mom and pop restaurants serving government workers locally and various vendors and contractors, whether to sell office supplies or specialized consulting expertise.
ARTICLES BY DATE
NEWS
October 3, 2014
A reader argues that overspending is the problem in Annapolis ( "Maryland's spending problem ," Sept. 29). This is a constant refrain, but then the inevitable question arises: Exactly what programs should be cut? Education? Then your kids will attend overcrowded classrooms. Transportation? Then roads will have more potholes and your commute will take longer. State inspectors? Then your food is more likely to be spoiled and your parents will be living in unsupervised retirement communities.
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NEWS
October 3, 2014
A reader argues that overspending is the problem in Annapolis ( "Maryland's spending problem ," Sept. 29). This is a constant refrain, but then the inevitable question arises: Exactly what programs should be cut? Education? Then your kids will attend overcrowded classrooms. Transportation? Then roads will have more potholes and your commute will take longer. State inspectors? Then your food is more likely to be spoiled and your parents will be living in unsupervised retirement communities.
NEWS
By Yvonne Wenger, The Baltimore Sun | June 4, 2014
Property taxes for Baltimore homeowners will drop again under Mayor Stephanie Rawlings-Blake's plan to gradually lower the city's rate to bring it more in line with the rest of the state. The city's spending panel agreed Wednesday to lower the rate to $2.13 per $100 of assessed value — still double the levy of surrounding counties, but down 14 cents in the past two years. The reduction is part of the mayor's plan to knock 20 cents off the tax for homeowners by 2020. The tax break, approved without discussion by the Board of Estimates, will lower the property tax bill for an average home by $174.
NEWS
By John O. Fox | January 25, 2011
As Congress considers "spending cuts" to address our massive annual deficits, lawmakers should acknowledge what their own nonpartisan Joint Committee on Taxation has revealed for decades: Most nondefense discretionary spending occurs through tax breaks, thanks to our federal income tax laws. Recently termed "earmarks" by President Barack Obama's bipartisan National Commission on Fiscal Responsibility and Reform, more than 100 tax breaks save households about $1 trillion annually in federal income taxes.
NEWS
April 27, 2012
It is difficult to fault the "doomsday" budget and support yearly budget increases for higher education when we hear stories about overpaid professors who only teach a couple of hours a day and take paid sabbaticals every three years. We also can't forget the million-dollar coaching salaries and all the sports revenues that have nothing to do with education. Revenues from higher taxes are not trickling down to benefit the students. The solution is to curb spending. Dan Griffin, Perry Hall
NEWS
November 20, 2013
“Fallacies do not cease to be fallacies because they become fashions.” - G.K. Chesterton With the gubernatorial campaign in full swing, and the Maryland General Assembly's legislative session less than two months away, we're going to see a lot of talk from state politicians about tax cuts and spending cuts. Most of what you'll hear or read about those issues will be pure prevarications. At a forum on state manufacturing, Democratic and Republican candidates supported the idea of cutting the state's corporate income tax rate . Attorney General Doug Gansler, a Democrat, and Republican candidates Harford County Executive David Craig, Del. Ron George and Charles Lollar all support some form of reduction in the corporate income tax rate.
NEWS
By John Fritze and Matthew Hay Brown, The Baltimore Sun | January 2, 2013
A bipartisan plan to avoid federal spending reductions and tax increases that would hit Maryland especially hard won final approval Tuesday night in the House of Representatives even as outside groups warned that the bill would simply delay difficult decisions for a few months. After a day of wild political gyrations - even by Washington's standards - the House voted 257 to 167 to pass a plan negotiated by Vice President Joe Biden and Senate GOP leader Mitch McConnell that raises income tax rates on households earning more than $450,000 and postpones $110 billion in spending cuts through the end of February.
NEWS
By Los Angeles Times | April 4, 1995
WASHINGTON -- House Republicans, sweeping aside a major barrier to the tax bill that is scheduled for a vote this week, have agreed to link their tax cuts to the goal of eliminating the federal deficit.Under the agreement reached yesterday, an array of proposed tax cuts aimed at families with children and businesses would not take effect unless Congress approves a spending plan this year that promises a balanced budget by 2002."This will hold Congress' feet to the fire," said Rep. Fred Upton, R-Mich.
NEWS
By Karen Hosler and Karen Hosler,Washington Bureau of The Sun | December 23, 1994
WASHINGTON -- They brandish the banner of a reborn Reagan revolution, but congressional Republicans say they are determined not to make the mistake the former president did in 1981: cutting taxes without also cutting spending enough to spare the government from a pool of red ink.In response to Democratic criticism that the GOP's new round of proposed tax cuts would swell the budget deficit just as President Ronald Reagan's did, House Republicans are determined...
NEWS
November 20, 2013
“Fallacies do not cease to be fallacies because they become fashions.” - G.K. Chesterton With the gubernatorial campaign in full swing, and the Maryland General Assembly's legislative session less than two months away, we're going to see a lot of talk from state politicians about tax cuts and spending cuts. Most of what you'll hear or read about those issues will be pure prevarications. At a forum on state manufacturing, Democratic and Republican candidates supported the idea of cutting the state's corporate income tax rate . Attorney General Doug Gansler, a Democrat, and Republican candidates Harford County Executive David Craig, Del. Ron George and Charles Lollar all support some form of reduction in the corporate income tax rate.
NEWS
November 4, 2013
While it's not uncommon for any negotiation to begin with a degree of doubt, it's difficult to imagine any launched with as little optimism as accompanied the opening last week of federal budget talks. That President Barack Obama could possibly still be voicing any expectation of a "grand bargain" reaching far into the future suggests an outlook shared only by those who play multi-state lotteries and bet the pick six at the race track. For all the derision and falling poll numbers that Congress, and particularly the Republicans, suffered during last month's government shutdown and near-default that began with a desire to "defund" Obamacare but later spread to the overall budget and beyond, the party's basic positions on tax and spending fundamentals look little changed.
NEWS
July 25, 2013
The impact of sequestration is real and hurting our nation's military ("Pain of sequestration is real," July 22). Dedicated and patriotic U.S. Department of Defense civilian employees who serve alongside our uniformed counterparts are shouldering the burden with 11 weeks of unpaid furloughs - a 20 percent pay cut. My workload isn't being decreased by 20 percent. Instead, I'm legally prohibited from doing the job that I was hired to do. Friday's work will be not done until Monday when I return.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | May 15, 2013
Maryland for years benefited from its close proximity to the nation's capital, but the mandatory federal spending cuts called sequestration will be a drag on the state's economy for the next couple of years, said the president of the Federal Reserve Bank of Richmond. "This retrenchment at the federal government level ... is tough this year. We are still finding out what the dimensions of this are," said Jeffrey Lacker, the Fed president. Despite the pain, the spending cuts are needed for the long-term fiscal health of the country, he added.
NEWS
April 10, 2013
It's facile to say that if the extreme right and left of American politics dislike something, it must be a good idea, but in the case of President Barack Obama's budget proposal, it may be true. The president is taking one more stab at a "grand bargain" on the budget that would reduce deficits to a manageable size, through a combination of tax increases and spending cuts - including cuts to Medicare and Social Security. Some liberal groups are promising primary challenges to any Democrats who vote for a reduction in future Social Security benefits.
NEWS
By Steny H. Hoyer and Martin O'Malley | April 4, 2013
Over the past six years, Maryland has taken a balanced approach when it comes to fiscal policy - making responsible cuts to spending while prioritizing investments in jobs, opportunity, and a stronger middle class. Because of this balanced approach, we're on the verge of eliminating Maryland's long-standing structural deficit, we have achieved the No. 1 public schools in the country for five years in a row, and since 2007, we've done more than any other state in the nation to hold down the cost of college tuition.
NEWS
By New York Times News Service | March 21, 1995
WASHINGTON -- The chairman of the Senate Finance Committee said yesterday that both Republicans and Democrats on the panel were prepared to make spending cuts "of an immense magnitude" -- up to $700 billion by 2002 -- to erase the federal deficit if both parties will give their political blessing.The chairman, Republican Sen. Bob Packwood of Oregon, said the committee's members reached a consensus in support of huge budget cuts during a weekend retreat on the Chesapeake Bay, which was also attended by Treasury Secretary Robert E. Rubin.
NEWS
By New York Times News Service | April 3, 1991
WASHINGTON -- A congressional leader arranged an $8 million federal grant to his alma mater two weeks ago, but that small act may end up setting off spending cuts in a wide range of domestic programs.Representative Dan Rostenkowski, D-Ill., chairman of the House Ways and Means Committee, arranged the grant for Loyola University of Chicago as part of $4.5 billion legislation to cover U.S. military expenses in the Persian Gulf.The grant, which would go toward a $24 million Center for Commerce and Industrial Expansion at Loyola's business school, was one of several non-military items in the bill.
NEWS
March 27, 2013
In his South Carolina speech, Gov. Martin O'Malley said we have "cut state spending big time" ("O'Malley takes a tryout in S.C.," March 24). Since July 2007, Maryland's population has increased less than 1 percent a year and inflation has averaged slightly over 2 percent annually. Yet the governor's first budget in fiscal 2008 was less than $30 billion, while his most recent submission, for fiscal 2014, is over $37 billion - about a 4 percent annual increase over his tenure. Thus state government spending adjusted for inflation has actually increased on a per capita basis.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | March 8, 2013
The drumbeat for weeks has been that $85 billion in across-the-board federal spending cuts known as the sequester would be so horrendous for the economy that lawmakers in Washington would be forced to compromise by the March 1 deadline. When no deal was reached, not only did the stock market shrug it off, but the Dow Jones industrial average of 30 blue-chip stocks soared to new heights. On Tuesday, the Dow blew past its old record of 14,164.53 from Oct. 9, 2007, and continued to climb, ending the week at 14,397.
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