ReprintsFor Dick Armey, the majority leader in the House, the history lesson is straightforward: the balanced budget is the consequence of a sustained economic boom that is itself the consequence of 1980s "Reaganomics".
The headteacher there has sent out a letter to parents trying to explain the reasons behind the budget cuts and the consequences for their children.
Two years ago, faced with soaring unemployment and large budget deficits — both the consequences of a severe financial crisis — most advanced-country leaders seemingly understood that the problems had to be tackled in sequence, with an immediate focus on creating jobs combined with a long-run strategy of deficit reduction.
Once Americans understand the budget consequences of squandering the surplus on an exaggerated tax cut, they will press lawmakers to pass one that is more reasonable in size.
Others, including economists who worry about the budget consequences of more food subsidies, say the bill is flawed.The titular king of Manipur state, in India's north-east, ended his hunger strike.
She said there would be no "emergency budget" to deal with the consequences of Brexit and promised that a Conservative government under May would no longer seek to reach a budget surplus by the end of the parliament, to avoid tax increases that might disrupt investment.
Dear prime minister Tony Abbott, treasurer Joe Hockey and minister for arts George Brandis, We view with dismay the many proposed changes to health, education and welfare support announced in the 2014 budget, and fear that the consequences these changes are likely to have will be dire for our most vulnerable citizens: the young, the elderly, the disadvantaged and Indigenous Australians.
Secondly, budget cuts could exacerbate the consequences of the ongoing economic recession, both by increasing losses of public sector jobs (and those in the private sector that they support) and by reducing access to preventive services.
While cost was a consideration in Iraq, Mr. Obama is more sensitive now to the budget consequences of keeping troops in Afghanistan after his bruising fiscal showdown with Congress, and the prospect of huge mandatory cuts in the Pentagon's budget.
Dimon is right to point to the risk, but criminally wrong to neglect the banks' role in creating the recession, of which the US budget deficit is the consequence, and doubly wrong never to challenge the power of the bond markets and financiers.
