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	<title>SwamplandCategory: Budgets &#124; Swampland &#124; TIME.com</title>
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	<description>Political insight from the Beltway and beyond</description>
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		<title>SwamplandCategory: Budgets &#124; Swampland &#124; TIME.com</title>
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		<title>Top White House Aide Has A Secret Beer With Rep. Paul Ryan</title>
		<link>http://swampland.time.com/2013/05/09/top-white-house-aide-has-a-secret-beer-with-rep-paul-ryan/</link>
		<comments>http://swampland.time.com/2013/05/09/top-white-house-aide-has-a-secret-beer-with-rep-paul-ryan/#comments</comments>
		<pubDate>Thu, 09 May 2013 09:30:48 +0000</pubDate>
		<dc:creator>Michael Scherer</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=95177</guid>
		<description><![CDATA[On April 10, the day President Obama released his 2014 budget, White House Chief of Staff Denis McDonough held a secret meeting with House Budget Committee Chairman Paul Ryan at a K Street restaurant, Brasserie Beck, to talk, among other things, about possible resolutions to the deficit reduction standoff. As I report in this week’s TIME magazine, an article that is only available to magazine or tablet subscribers online, the meeting was productive, even if it produced no breakthroughs. &#8220;He’s a Minnesota Irish Catholic guy, and I’m a Wisconsin Irish Catholic guy,&#8221; Ryan told me, after the conversation. &#8220;It quickly dawned on me that we can work together.&#8221; &#8220;It was the first time I have had a candid conversation or a substantial conversation with a member of the Obama administration since they came into power,&#8221; Ryan added. The discussion, over beer, included talk about spending levels and paths to reaching a deal, but was not intended as a negotiating session. Rather it was part of a large scale outreach effort by the White House, coordinated by McDonough to increase communication between the White House and Congress, and between Democrats and Republicans. The Belgian restaurant lists 115 beers on its menu, but not Miller Lite, Ryan’s beer of choice. &#8220;I ended up getting some lager I’d never heard of,&#8221; said Ryan, who mistook the place for a French joint. But it turned out McDonough had done his homework in other ways. He knew that Ryan had graduated from Miami University in Ohio the same year as his own wife Kari. Both men hailed from former frontier towns in the upper Midwest, and both had been drawn to Washington as young congressional aides. They were nerds, in the best sense of the word, and they were fierce competitors. At the same time McDonough and Ryan met, President Obama hosted a dinner at the White House for a dozen Republican Senators. Since then the outreach effort has continued, both in public and private. The President golfed Monday with two Republican Senators, and McDonough<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=95177&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Magazine</primary_category><primary_category_link>http://swampland.time.com/category/magazine/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2013/05/1500_wmcdonough_0520.jpg?w=200</featured_image>
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			<media:title type="html">Denis McDonough Obama</media:title>
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			<media:title type="html">michaelscherer</media:title>
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		<item>
		<title>Does Paul Ryan Matter?</title>
		<link>http://swampland.time.com/2013/03/13/does-paul-ryan-matter/</link>
		<comments>http://swampland.time.com/2013/03/13/does-paul-ryan-matter/#comments</comments>
		<pubDate>Wed, 13 Mar 2013 14:23:33 +0000</pubDate>
		<dc:creator>Joe Klein</dc:creator>
				<category><![CDATA[Budgets]]></category>
		<category><![CDATA[In the Arena]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=90342</guid>
		<description><![CDATA[Washington is atwitter about Paul Ryan&#8217;s latest give-no-quarter budget. It is an absurd document, of course. But is it relevant? Probably not. President Obama has indicated that he is intending to try a different deficit-reduction strategy this year. He is trying to bypass the Republican leadership and forge an alliance with the Republican Sanity Caucus&#8211;i.e. those who understand the message of the last election and are willing to marry entitlement cuts with revenue increases to create a balanced plan. That&#8217;s why he&#8217;s been shmoozing certain Republicans so assiduously these past few days. The plan is: Do the Senate first (as opposed to experiencing the endless emptiness of John Boehner&#8217;s negotiating team). Pry off a chunk of Republicans to pass a balanced plan&#8211;and, I would imagine, if the support of some Democrats is lost because of the entitlement cuts, that&#8217;s not so bad: it makes the bipartisanship of the bill more credible. Then go to the House. Again, pick off a sufficient number of GOP Congresspeople to forge a bipartisan majority&#8211;sort of like the coalition that passed the tax increases for the wealthy in January&#8211;and voila: there is a grand bargain, achieved without Boehner, the Tea Party or Paul Ryan. Is this possible? Probably not. It is wise to bet on paralysis in Washington these days. But is it worth a try? Absolutely. At the very least, it will be interesting to see if those Republicans who&#8217;ve been clucking about a Simpson-Bowlesian solution really mean it. Ah, Simpson-Bowles: there&#8217;s the rub. I think Paul Krugman&#8211;who really is beginning to resemble an Old Testament prophet&#8211;is right about the big stuff: deficits are among our tiniest worries right now. The top priority should be to get the economy moving in a more robust fashion, which means major spending on infrastructure and other long-term investments. The best argument for a budget deal, to my mind, is that it might buoy and stabilize the markets, remove uncertainty, and lead to greater private sector investment. Indeed, the best argument for entitlement reform is to make Medicare<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=90342&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2013/03/budget-battle_yang.jpg?w=200</featured_image>
		<media:thumbnail url="http://timeswampland.files.wordpress.com/2013/03/budget-battle_yang.jpg?w=200" />
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			<media:title type="html">Paul Ryan</media:title>
		</media:content>

		<media:content url="http://2.gravatar.com/avatar/82d9b09d6bf4a8d7cc755c73ad7a3ae5?s=96&#38;d=http%3A%2F%2F2.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">jklein1271</media:title>
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		<item>
		<title>Dueling Budgets and a Window for a Grand Bargain</title>
		<link>http://swampland.time.com/2013/03/12/dueling-budgets-and-a-window-for-a-grand-bargain/</link>
		<comments>http://swampland.time.com/2013/03/12/dueling-budgets-and-a-window-for-a-grand-bargain/#comments</comments>
		<pubDate>Tue, 12 Mar 2013 16:02:10 +0000</pubDate>
		<dc:creator>Jay Newton-Small</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=90238</guid>
		<description><![CDATA[Budgets are usually ideological documents, used more for elections in recent years than for actual legislating. This week, both the House Republicans and Senate Democrats are expected to introduce budgets. While neither is expected to pass the other chamber and both present inherent risks to their own parties, this year, they may actually matter. Senate Democrats, led by Budget Committee Chairwoman Patty Murray, this week will unveil their first budget in four years. There are a lot of reasons why Senate Dems have eschewed their constitutional duty: fears that Republicans will use reconciliation — a budget process that requires only a 51-vote threshold — to strip Obamacare or the financial-reregulation bill, or use amendments to embarrass Democrats on any number of issues. But perhaps the biggest reason was to protect vulnerable Democrats through two tough electoral cycles where Dems risked losing the Senate. In 2014, Democrats still face an uphill battle: 21 Democratic seats are up, seven of them in states won by Mitt Romney in 2012. Murray, who last cycle headed up the Democratic Senatorial Campaign Committee, which is responsible for electing Democrats to the Senate, is hyperaware of the dangers of forcing her colleagues to support an ideological document too far to the left. To that end, she’s endeavored to craft a moderate budget plan that envisions $1 trillion in new savings in addition to $1 trillion in new revenue over the next decade. The problem is: it fails to balance the budget even in the longest projections decades down the road, opening up Democrats to criticism that they aren’t serious about tackling deficits. And $1 trillion in revenue is a tough vote for any of those red-state Democrats. In a dig at Murray, one of the first things House Budget Chairman Paul Ryan did on Tuesday at the rollout of his budget was to invite President Obama and the Democrats to join Republicans in “balancing the budget.” Ryan’s plan does so in a drastic manner, slicing $4.6 trillion in spending over the next decade by, among other<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=90238&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://swampland.time.com/2013/03/12/dueling-budgets-and-a-window-for-a-grand-bargain/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2013/03/rtr2u6rh.jpg?w=200</featured_image>
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			<media:title type="html">Super committee co-chair Senator Murray speaks to reporters as she arrives for a meeting in the Capitol in Washington</media:title>
		</media:content>

		<media:content url="http://2.gravatar.com/avatar/557ff2649ffce53285c86e4b694cff6d?s=96&#38;d=http%3A%2F%2F2.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">jnewtonsmall</media:title>
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		<title>Grand Illusion or Grand Stand?</title>
		<link>http://thepage.time.com/2013/03/12/grand-illusion-or-grand-stand/</link>
		<comments>http://thepage.time.com/2013/03/12/grand-illusion-or-grand-stand/#comments</comments>
		<pubDate>Tue, 12 Mar 2013 15:29:06 +0000</pubDate>
		<dc:creator>Mark Halperin</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=90229</guid>
		<description><![CDATA[<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=90229&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2013/03/rtr3epdp.jpg?w=200</featured_image>
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			<media:title type="html">U.S. President Barack Obama talks on stage at the Department of Interior in Washington</media:title>
		</media:content>

		<media:content url="http://2.gravatar.com/avatar/509f545dfcf07266c1eb847a42170416?s=96&#38;d=http%3A%2F%2F2.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">drogers1271</media:title>
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		<title>In Rare Dose of Comity, Congress Takes Early Steps to Avoid Government Shutdown</title>
		<link>http://swampland.time.com/2013/03/06/in-rare-dose-of-comity-congress-takes-early-steps-to-avoid-government-shutdown/</link>
		<comments>http://swampland.time.com/2013/03/06/in-rare-dose-of-comity-congress-takes-early-steps-to-avoid-government-shutdown/#comments</comments>
		<pubDate>Wed, 06 Mar 2013 20:57:07 +0000</pubDate>
		<dc:creator>Alex Altman</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=89725</guid>
		<description><![CDATA[Congressional leaders in both parties say they have no interest in shutting down the government when its funding expires late this month. Recent history suggests we should therefore be nervous it will happen. For the past two years Congress has jumped from one avoidable crisis to another, and even the shrewdest politicians seem no better than armchair pundits at predicting the next fumble by our dysfunctional government. Barack Obama vowed that sequestration &#8220;will not happen.&#8221; On the campaign trail, Paul Ryan railed against the policy, calling its impact &#8220;devastating.&#8221; When the sequester arrived, Republicans welcomed it with open arms. But this time may be different. While the budget brinkmanship will surely return, the Capitol was visited this week by something rarer than the winter storm that blew through Washington on Wednesday: comity in Congress. With three weeks until a March 27 deadline to avert a government shutdown, the House on Wednesday passed a Republican stopgap bill that would supply funding through Sept. 30, the end of the fiscal year. In a victory for hard-line conservatives, the legislation would fund government departments at the lower spending levels enacted by the sequester. It also cushions sequestration&#8217;s impact on several Republican priorities, most notably the Pentagon, which would be afforded a full-year budget and greater flexibility to implement the cuts. In addition, the so-called continuing resolution protects against furloughs for Customs and Border Patrol staffers, adds up to $2 billion in embassy security &#8212; a conservative concern in the wake of the attack on the U.S. consulate in Benghazi last fall &#8212; and extends the pay freeze for federal workers. (MORE: The Sequester Fight Was the Pregame. Here Comes the Main Event) Fifty-three House Democrats joined their Republican colleagues to support the measure, which passed by a count of 267 to 151. In a sign that its success was inevitable, the House&#8217;s No. 2 Democrat, Steny Hoyer, told reporters Tuesday that while he recommended a &#8216;no&#8217; vote, he would not whip against it. After weeks of warning that sequestration&#8217;s $85 billion in automatic spending cuts<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=89725&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2013/03/pol-congress-funding-130306.jpg?w=200</featured_image>
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			<media:title type="html">A tourist takes cover underneath an umbrella while snapping a photo of the U.S. Capitol as snow and rain falls in Washington</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/41a5f1af68b9fd647df540c67f1a464a?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">Alex Altman</media:title>
		</media:content>
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		<title>The Sequester Fight Was the Pregame. Here Comes the Main Event</title>
		<link>http://swampland.time.com/2013/03/01/the-sequester-fight-was-the-pregame-here-comes-the-main-event/</link>
		<comments>http://swampland.time.com/2013/03/01/the-sequester-fight-was-the-pregame-here-comes-the-main-event/#comments</comments>
		<pubDate>Fri, 01 Mar 2013 10:45:56 +0000</pubDate>
		<dc:creator>Alex Altman</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=89418</guid>
		<description><![CDATA[By 11:59 p.m. on Friday, President Obama is required to initiate the budget process known as sequestration. Until now, the fate of these automatic spending cuts – which independent forecasters say will ultimately throw a wrench in the machinery of government, cost hundreds of thousands of job and slow economic growth – has been trapped in a pointless installment of political theater. The White House released reams of scary economic reports. The House deferred to the Senate, which finally on Thursday staged dueling stunt votes whose failure was a foregone conclusion. At which point Congress, having barely tried to avert a crisis of its own making, skipped town for the weekend. On the day Obama is forced by law to trigger $85 billion in automatic budget cuts, a bipartisan delegation will finally trek down Pennsylvania Avenue to negotiate in person. But both sides are merely expected to restate long-held positions, giving the summit the whiff of a photo op. In fact, now that sequestration has arrived, the budget gridlock gripping Washington may be about to get worse. (MORE: All You Need to Know About Sequestration But Were Afraid to Ask) That’s because the two parties are already looking ahead to the next skirmish: a fight over how to fund the federal government beyond the end of the month. For the past few years, with the formal budget process broken, Congress has kept the government running with a series of stopgap funding bills, known as continuing resolutions. By March 27, lawmakers have to pass a new one or the lights go off. Unlike the effects of the sequester, whose hazards are real but not immediate, a shutdown’s seismic impact would reverberate across the economy right away. And here&#8217;s where the capital&#8217;s budget battles fold into one another, like evil Russian nesting dolls. One of the reasons many Tea Party Republicans considered the implementation of the sequester a “home run,” as Kansas Congressman Mike Pompeo put it, is it locks in federal outlays at a lower level, trimming the budget back to<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=89418&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2013/03/485_us_seq_0301.jpg?w=200</featured_image>
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		<media:content url="http://timeswampland.files.wordpress.com/2013/03/485_us_seq_0301.jpg?w=200" medium="image">
			<media:title type="html">Boehner White House</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/41a5f1af68b9fd647df540c67f1a464a?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">Alex Altman</media:title>
		</media:content>
	</item>
		<item>
		<title>All You Need to Know About Sequestration But Were Afraid to Ask</title>
		<link>http://swampland.time.com/2013/02/28/deadlock-all-you-need-to-know-about-sequestration-but-were-afraid-to-ask-2/</link>
		<comments>http://swampland.time.com/2013/02/28/deadlock-all-you-need-to-know-about-sequestration-but-were-afraid-to-ask-2/#comments</comments>
		<pubDate>Thu, 28 Feb 2013 10:45:39 +0000</pubDate>
		<dc:creator>Alex Altman</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=89213</guid>
		<description><![CDATA[<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=89213&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2013/02/u-s-capitol.jpg?w=200</featured_image>
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		<media:content url="http://timeswampland.files.wordpress.com/2013/02/u-s-capitol.jpg?w=200" medium="image">
			<media:title type="html">U.S. Capitol</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/41a5f1af68b9fd647df540c67f1a464a?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">Alex Altman</media:title>
		</media:content>
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		<item>
		<title>Congress Looks Past the Sequester Deadline and Braces for Long Fight</title>
		<link>http://swampland.time.com/2013/02/27/congress-looks-past-the-sequester-deadline-and-braces-for-long-fight/</link>
		<comments>http://swampland.time.com/2013/02/27/congress-looks-past-the-sequester-deadline-and-braces-for-long-fight/#comments</comments>
		<pubDate>Wed, 27 Feb 2013 10:45:30 +0000</pubDate>
		<dc:creator>Alex Altman</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=89112</guid>
		<description><![CDATA[This should be a week of hushed meetings and late-night negotiations, with all of Congress scrambling to find a solution to Washington&#8217;s latest budget crisis. On March 1, a set of automatic spending cuts forecast to wallop the economy will kick in. But on their first full day back from a leisurely recess, Congress was in no hurry to beat the looming sequestration deadline. There were dueling press conferences instead of bargaining sessions, and political theater trumped actual progress toward eluding a budget policy designed to be disastrous. Republicans once deemed the sequester a deterrent. But as the deadline draws near, they have learned to love a policy they once claimed to loathe &#8212; or at least to appreciate its hard-won cuts to federal spending. And so on Tuesday, as Barack Obama visited Virginia to detail the dire consequences, Republicans waved off the warnings about the impact of a policy that will cut each affected nonmilitary program by about 5% and defense programs by 8%. The President, said Wyoming Republican John Barrasso, is &#8220;running around the country, crying wolf, saying that the sky is falling&#8221; in order to spook voters and ratchet up public pressure on Republicans to raise taxes. &#8220;We&#8217;re not buying it.&#8221; As they shuffled through the Capitol&#8217;s gilded halls after feasting on catered lunches, senators acknowledged that with just two days until the sequester takes effect, there was no visible path to avoid the $85 billion in spending cuts that independent forecasters say will disrupt the essential functions of government, cost up to 700,000 jobs this year and shave economic growth by half. Each Senate caucus will have the chance to bring a bill before Barack Obama is forced to initiate sequestration on Friday. Democrats plan to push a bill that would replace the sequester&#8217;s indiscriminate cuts with a combination of targeted funding reductions and tax increases on high earners. Republicans, meanwhile, are likely to propose a measure, backed by Senate minority leader Mitch McConnell, that would grant Obama greater leeway over how to implement the cuts<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=89112&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://swampland.time.com/2013/02/27/congress-looks-past-the-sequester-deadline-and-braces-for-long-fight/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2013/02/bk-capitol-20120226-3321.jpg?w=200</featured_image>
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			<media:title type="html">Senate Minority Leader Mitch McConnell during a press conference at the U.S. Capitol on Feb. 26, 2013 in Washington, DC.</media:title>
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		<media:content url="http://1.gravatar.com/avatar/41a5f1af68b9fd647df540c67f1a464a?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">Alex Altman</media:title>
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		<title>Pentagon Sequestysteria</title>
		<link>http://nation.time.com/2013/02/25/pentagon-sequestyria/</link>
		<comments>http://nation.time.com/2013/02/25/pentagon-sequestyria/#comments</comments>
		<pubDate>Mon, 25 Feb 2013 15:25:29 +0000</pubDate>
		<dc:creator>Mark Thompson</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=88942</guid>
		<description><![CDATA[<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=88942&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://nation.time.com/2013/02/25/pentagon-sequestyria/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2013/02/56983735.jpg?w=200</featured_image>
		<media:thumbnail url="http://timeswampland.files.wordpress.com/2013/02/56983735.jpg?w=200" />
		<media:content url="http://timeswampland.files.wordpress.com/2013/02/56983735.jpg?w=200" medium="image">
			<media:title type="html">Tank</media:title>
		</media:content>

		<media:content url="http://2.gravatar.com/avatar/509f545dfcf07266c1eb847a42170416?s=96&#38;d=http%3A%2F%2F2.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">drogers1271</media:title>
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		<title>A Sequester No One Wants</title>
		<link>http://swampland.time.com/2013/02/25/a-sequester-no-one-wants/</link>
		<comments>http://swampland.time.com/2013/02/25/a-sequester-no-one-wants/#comments</comments>
		<pubDate>Mon, 25 Feb 2013 10:45:04 +0000</pubDate>
		<dc:creator>Alex Altman</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=88873</guid>
		<description><![CDATA[By the end of the week, everything changes. Severe spending cuts will unleash waves of devastation across the U.S. Picture air travel snarled. Meat inspections curtailed. National security imperiled. Seventy thousand children booted from Head Start programs, 10,000 teaching jobs jeopardized, disability payments delayed, aid withheld from needy Americans and foreign governments perched on the brink of chaos. Hundreds of thousands of jobs could be lost, and the fragile economy knocked into a tailspin. This is the nightmare that would unfold, according to Barack Obama and the heads of federal agencies, if Congress can’t forge a deal to evade sequestration, the $1.2 trillion package of spending cuts over the next decade that is set to kick in March 1. The sequester was designed to be so disastrous that would it would force Washington&#8217;s warring factions to the bargaining table. But what was once an unthinkable result has come to seem inevitable. This time there is little hope that dealmakers will swoop in with an 11th-hour reprieve. With the deadline looming four days away, the question enveloping the capital is not whether the sequester will happen, but rather how bad it will be. (VIDEO: The Sequester Fight: TIME Explains) As usual, the two parties have crunched the data and come up with wildly divergent conclusions. If the White House envisions economic calamity, many Republicans are treating the sequester more like the Mayan apocalypse. They consider the prospect of lopping $85 billion off the $3.6 trillion federal budget &#8212; about a 2.4% cut &#8212; to be a good start. A &#8220;pittance,&#8221; Kentucky Senator Rand Paul said. If you ask the GOP, the White House&#8217;s dire predictions are designed to scare the public and pressure the GOP to acquiesce. And so, when they aren&#8217;t trying to pin the policy on Obama, Republicans are working to cast the cuts as modest reductions to a bloated budget. “No one should be talking about raising taxes when the government is still paying people to play video games, giving folks free cellphones, and buying $47,000 cigarette-smoking machines,” wrote House<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=88873&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://swampland.time.com/2013/02/25/a-sequester-no-one-wants/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2013/02/obama.jpg?w=200</featured_image>
		<media:thumbnail url="http://timeswampland.files.wordpress.com/2013/02/obama.jpg?w=200" />
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			<media:title type="html">President Barack Obama speaks about strengthening the economy for the middle class and measures to combat gun violence during a visit to Hyde Park Academy in Chicago on Feb. 15, 2013.</media:title>
		</media:content>

		<media:content url="http://1.gravatar.com/avatar/41a5f1af68b9fd647df540c67f1a464a?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">Alex Altman</media:title>
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		<title>Sequester Showdown</title>
		<link>http://swampland.time.com/2013/02/22/gaming-out-sequester-chicken/</link>
		<comments>http://swampland.time.com/2013/02/22/gaming-out-sequester-chicken/#comments</comments>
		<pubDate>Fri, 22 Feb 2013 10:45:20 +0000</pubDate>
		<dc:creator>Michael Scherer</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=88759</guid>
		<description><![CDATA[We are facing a moment in Washington. Both Republicans and Democrats have decided, in poker lingo, to go all-in on the same hand, the looming set of mandatory across-the-board cuts known as the sequester. Both sides agree it is bad policy, which will be unnecessarily harmful to the economy, and both believe this bad policy once enacted in all of its ugliness will be politically beneficial to their team. Both cannot be right. As it happens, these moments do not come along all that often. Most beltway theatrics are bluffs followed by folds. Someone gives a speech, calls for some reform, and then lets it die on the vine. Someone else expresses outrage, muscles an investigation, and it fizzles out. Republicans hold the debt ceiling hostage, and Obama agrees to deal of spending cuts with elaborate conditions. (Indeed this was how the sequester was created in the first place.) Obama threatens tax increases on all Americans, and Republicans give him tax increases on some of the rich ones. For those tired of the constant talk of crises in Washington, be aware that this time is different. The chances of an 11th hour fix are incredibly small, in part because the stakes are lower than the last several showdowns. Even after the sequester is triggered, it’s impact will not be immediately traumatic and these effects will be easily reversible when the White House and Congressional Republicans cut a deal to replace the cuts with more sensible ways to address the deficit. But the longer it takes for a deal to be cut, the more the pain, especially if the squabbling stretches from weeks into months and is joined by the sequester’s dysfunctional doppleganger, a late March failure to agree on a new budget, which could force a government shutdown of non-essential federal services. Economic confidence is likely to be sapped. GDP could take a haircut. Unemployment will go up. Government employees will be furloughed, or might lose their jobs. Government services may be reduced, and military readiness could be sacrificed. (VIDEO:<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=88759&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://swampland.time.com/2013/02/22/gaming-out-sequester-chicken/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2013/02/485_pol_obama_0222.jpg?w=200</featured_image>
		<media:thumbnail url="http://timeswampland.files.wordpress.com/2013/02/485_pol_obama_0222.jpg?w=200" />
		<media:content url="http://timeswampland.files.wordpress.com/2013/02/485_pol_obama_0222.jpg?w=200" medium="image">
			<media:title type="html">Barack Obama</media:title>
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		<media:content url="http://1.gravatar.com/avatar/a467a0981ef8e059913a0aa44ba7df1b?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">michaelscherer</media:title>
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		<title>Democrats Release Sequester Hit List With 27 GOP Targets</title>
		<link>http://swampland.time.com/2013/02/21/democrats-release-sequester-hit-list-with-27-gop-targets/</link>
		<comments>http://swampland.time.com/2013/02/21/democrats-release-sequester-hit-list-with-27-gop-targets/#comments</comments>
		<pubDate>Thu, 21 Feb 2013 17:52:47 +0000</pubDate>
		<dc:creator>Michael Scherer</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=88707</guid>
		<description><![CDATA[Who says campaign season ends? With a deadline fast approaching before unwise spending cuts automatically take effect, the Democratic Congressional Campaign Committee staff has released a list of 27 Republican members of Congress they hope suffer the most from the coming public outrage. The list includes suburban districts near Orlando, Fla., and military districts, like Scott Rigell&#8217;s seat along Virginia&#8217;s coastline. All will be blitzed today with low-fi, low-cost online ads with horror movie soundtracks along the lines of this one. Picking up the House remains an outside shot for Democrats in 2014, when the composition of the electorate is likely to once again favor Republicans. But that doesn&#8217;t mean a pound of flesh or two can&#8217;t be excised in the meantime. Republicans enter the latest game of bluff with the White House with a distinct disadvantage in the polls. And Democrats are decidedly acting far more giddy about this coming fight than Republicans. The full list of targeted members follows. If you are reading from one of these districts, know that your opinion is likely to matter far more than most Americans over the coming weeks in deciding how this latest standoff gets resolved. Andy Barr (KY-06) Dan Benishek (MI-01) Tom Cotton (AR-04) Rick Crawford (AR-01) Mike Coffman (CO-06) Steve Daines (MT-AL) Rodney Davis (IL-13) Jeff Denham (CA-10) Mike Fitzpatrick (PA-08) Chris Gibson (NY-19) Tim Griffin (AR-02) Michael Grimm (NY-11) Joe Heck (NV-03) Jaime Herrera Beutler (WA-03) David Joyce (OH-14) John Kline (MN-02) Tom Latham (IA-03) Gary Miller (CA-31) Erik Paulsen (MN-03) Tom Reed (NY-23) Scott Rigell (VA-02) Jon Runyan (NJ-03) Steve Southerland (FL-02) David Valadao (CA-21) Jackie Walorski (IN-02) Dan Webster (FL-10) Bill Young (FL-13)<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=88707&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://swampland.time.com/2013/02/21/democrats-release-sequester-hit-list-with-27-gop-targets/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2013/02/picture-15.png?w=200</featured_image>
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			<media:title type="html">DCCC ad</media:title>
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		<media:content url="http://1.gravatar.com/avatar/a467a0981ef8e059913a0aa44ba7df1b?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">michaelscherer</media:title>
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		<title>A Guide to Sequestration, the Bad Budget Policy We May Not Be Able to Avoid</title>
		<link>http://swampland.time.com/2013/02/06/a-guide-to-sequestration-the-terrible-horrible-no-good-policy-that-may-wreck-the-economic-recovery/</link>
		<comments>http://swampland.time.com/2013/02/06/a-guide-to-sequestration-the-terrible-horrible-no-good-policy-that-may-wreck-the-economic-recovery/#comments</comments>
		<pubDate>Wed, 06 Feb 2013 10:45:40 +0000</pubDate>
		<dc:creator>Alex Altman</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=87218</guid>
		<description><![CDATA[Of all the budget fights over the past several years, the sequester is the most emblematic of modern Washington. That is not a compliment. Its distant relatives &#8212; the government-shutdown fight and the debt ceiling spat and the fiscal cliff brawl &#8212; were manufactured crises, but behind the eye-glazing demagoguery lurked important issues, like the proper size of government, about which reasonable people can disagree. Everyone agrees that the sequester is terrible policy. In fact, it was designed to be terrible policy. The sequester is a nondescript name for a poison pill, devised as a deterrent so unpalatable that Capitol Hill&#8217;s warring factions would be forced to make peace. That was back in the summer of 2011, when the threat of a debt default loomed. So the White House and Congressional Republicans crafted the Budget Control Act, which appointed a bipartisan &#8220;super committee&#8221; to find $1.2 trillion in deficit reduction over 10 years. The super committee&#8217;s failure would trigger sequestration, a package of about $1 trillion in automatic cuts to domestic and security programs. Economists warned it would send the fragile economy into a tailspin, and possibly cause a double-dip recession. Still, peace was elusive. The super committee failed. (MORE: The Federal Government’s $128 Trillion Stockpile: The Answer to Our Debt Problems?) Now the U.S. is just weeks away from swallowing the poison pill. The fiscal cliff deal brokered on New Year&#8217;s Eve postponed the cuts for two months, but now they are set to take effect on March 1, and a solution to the sequester is nowhere in sight. Which is why President Obama on Tuesday afternoon called for Congress to stave off the sequester for a few more months, hoping such a move might buy time for lawmakers to replace it with smarter spending cuts. &#8220;The good news is, this doesn&#8217;t have to happen,&#8221; Obama said. According to a projection released Tuesday by the Congressional Budget Office, sequestration would cut U.S. economic growth in 2013 by half. The White House predicts it would cause the economy to shed hundreds of<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=87218&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://swampland.time.com/2013/02/06/a-guide-to-sequestration-the-terrible-horrible-no-good-policy-that-may-wreck-the-economic-recovery/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2013/02/sl-obama-sequester-0205.jpg?w=200</featured_image>
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			<media:title type="html">President Barack Obama departs the White House in Washington, Feb. 4, 2013.</media:title>
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		<media:content url="http://1.gravatar.com/avatar/41a5f1af68b9fd647df540c67f1a464a?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">Alex Altman</media:title>
		</media:content>
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		<title>House GOP Postpones Debt-Limit Fight&#8211;For Now</title>
		<link>http://swampland.time.com/2013/01/23/house-gop-postpones-debt-limit-fight-for-now/</link>
		<comments>http://swampland.time.com/2013/01/23/house-gop-postpones-debt-limit-fight-for-now/#comments</comments>
		<pubDate>Wed, 23 Jan 2013 19:12:27 +0000</pubDate>
		<dc:creator>Alex Altman</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=86011</guid>
		<description><![CDATA[The House on Wednesday passed a Republican plan to suspend the U.S. borrowing limit until mid-May, postponing a fiscal standoff that could have torpedoed the U.S. economy and further damaged the GOP&#8216;s brand. The bill passed, 285-144, with the support of the vast majority of Republicans and several dozen Democrats. Senate Democrats mocked the legislation but signaled they would pass it, and the White House issued a statement saying it &#8220;would not oppose&#8221; the measure, paving the way for a stopgap solution that lifts the burden of another debt-ceiling crisis until May 19. Even by the surrealist standards of the House of Representatives, the measure is kooky. First, it suspends the debt-limit rather than raises it &#8212; a semantic distinction that allows members to assure pitchfork-wielding constituents that they didn&#8217;t vote for more debt, but raises the question of why Congress doesn&#8217;t simply permanently jettison an arcane provision that has twice threatened the U.S. with default in two years. Second, it requires both houses of Congress to pass a budget, a feat the Senate hasn&#8217;t managed in nearly four years. If either chamber fails to meet that challenge by April 15, members don&#8217;t get paid. That stipulation may be an effective sop to a public that sees congressmen as coddled fat cats, but it also may run afoul of the 27th Amendment to the U.S. Constitution, which states that &#8221;No law, varying the compensation for the services of the Senators and Representatives, shall take effect, until an election of Representatives shall have intervened.&#8221; The move was a sharp tactical retreat by House Republicans, who had sworn to extract matching spending cuts for every dollar the U.S. borrowing authority is raised. This debt-limit suspension isn&#8217;t contingent on spending cuts, or the adoption of a balanced-budget amendment, or any of the other priorities the House GOP has sought to tether to Congress&#8217;s paying the bills it has racked up. But for those hoping to avoid a reprisal of the budget brinkmanship that hobbled the economy in the summer of 2011, don&#8217;t get too excited.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=86011&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
		<wfw:commentRss>http://swampland.time.com/2013/01/23/house-gop-postpones-debt-limit-fight-for-now/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2013/01/sl-debt-limit-0123.jpg?w=200</featured_image>
		<media:thumbnail url="http://timeswampland.files.wordpress.com/2013/01/sl-debt-limit-0123.jpg?w=200" />
		<media:content url="http://timeswampland.files.wordpress.com/2013/01/sl-debt-limit-0123.jpg?w=200" medium="image">
			<media:title type="html">House Republican Leadership Speaks About Debt Ceiling on Capitol Hill</media:title>
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		<media:content url="http://1.gravatar.com/avatar/41a5f1af68b9fd647df540c67f1a464a?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">Alex Altman</media:title>
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		<title>The Leverage</title>
		<link>http://swampland.time.com/2013/01/18/the-leverage/</link>
		<comments>http://swampland.time.com/2013/01/18/the-leverage/#comments</comments>
		<pubDate>Fri, 18 Jan 2013 16:35:21 +0000</pubDate>
		<dc:creator>Mark Halperin</dc:creator>
				<category><![CDATA[Budgets]]></category>
		<category><![CDATA[fiscal cliff]]></category>
		<category><![CDATA[republicans]]></category>
		<category><![CDATA[White House]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=85476</guid>
		<description><![CDATA[Republicans are now talking about raising the debt ceiling, but just for a month or two. That would open up a number of key Fiscal Cliff 2 questions: Would the President accept that, given his hard-line stance on not messing with the limit in a way that markets and credit agencies might not like? Would Republicans agree to (or try to…) again also put off the sequester spending cuts, to keep them in sync with the debt ceiling expiration, and keep what some see as the GOP’s main point of leverage alive? Would a vote putting off the debt ceiling breach that drew a lot of votes from House Republicans build momentum for further compromise with the White House — or make conservatives feel like they gave at the office already? Right now, the most important dynamic in the fiscal cliff fight is the advantages the Democrats have: the President is more popular than congressional Republicans; Democrats are more united than Republicans on strategy and tactics; and the President is about to have unmatchable platforms with the inauguration and State of the Union. My current hunch is that the immigration negotiations are going to help the White House in the cliff talks and guns aren’t going to be as big a gear jammer as some are saying.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=85476&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2012/12/2012-12-27t160139z_15891833.jpg?w=200</featured_image>
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			<media:title type="html">image: The U.S. Capitol building is pictured as lawmakers return from the Christmas recess in Washington Dec. 27, 2012.</media:title>
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		<media:content url="http://2.gravatar.com/avatar/509f545dfcf07266c1eb847a42170416?s=96&#38;d=http%3A%2F%2F2.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">drogers1271</media:title>
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		<title>The Next Cliff: Another Round of Debt Brinkmanship Looms</title>
		<link>http://swampland.time.com/2013/01/03/the-next-cliff-another-round-of-debt-limit-brinkmanship-looms/</link>
		<comments>http://swampland.time.com/2013/01/03/the-next-cliff-another-round-of-debt-limit-brinkmanship-looms/#comments</comments>
		<pubDate>Thu, 03 Jan 2013 10:45:31 +0000</pubDate>
		<dc:creator>Alex Altman</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=84060</guid>
		<description><![CDATA[The fiscal cliff was a lousy metaphor. It wasn’t really a cliff; the country tore past the deadline without plunging. The combination of deep spending cuts and damaging tax hikes Congress averted on New Year’s Day was the latest in a cascade of budget fights that convulsed the 112th Congress, wrenching the U.S. government into a state of near-continual crisis. Like the others, the cliff was a crisis of Congress’s own making. Originally devised as a solution to the last self-inflicted calamity &#8212; the debt-limit negotiations that threatened to detonate the U.S. economy in the summer of 2011 – the widely panned deal instead guarantees another round of brinkmanship. The automatic cuts to military and domestic programs that the cliff deal averted, known as &#8220;sequestration,&#8221; now come due at the end of February. Around the same time, the Treasury Department will deplete the stock of accounting gimmicks it can use to stretch the $16.4 trillion debt limit, which the U.S. reached once again on New Year&#8217;s Eve. So the pact postpones the pain for a mere two months. A month after that, the U.S. will run out of money to fund the government. The last act of this Congress &#8212; among the least popular and most unproductive in history &#8212; was to punt a final time, bequeathing to its successor the kind of messy impasse that marked the past two years. (TIME MAGAZINE: More on the Fiscal Cliff, Available to Subscribers) Washington’s descent into dysfunction didn’t begin with the 2010 midterm elections. Gerrymandering, the filibuster, the rise of partisan media and waning comity on Capitol Hill all played a role. But the 87 House Republican freshman swept into Congress by the Tea Party wave have, as promised, reshaped the way the capital does business. Beginning early in 2011, the new Republican majority began to weaponize routine procedural votes in a war to scale back the size of government. First they eradicated earmarks. In early spring, they nearly shut down federal operations in a fight over the budget. But it was<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=84060&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2013/01/sl-fiscal-cliff-obama-0102.jpg?w=200</featured_image>
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			<media:title type="html">image: President Barack Obama walks out of the Oval Office as he departs the White House in Washington, Jan. 1, 2013.</media:title>
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		<media:content url="http://1.gravatar.com/avatar/41a5f1af68b9fd647df540c67f1a464a?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">Alex Altman</media:title>
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		<title>Entitlement Cuts Loom as Obstacle to Fiscal Cliff Deal</title>
		<link>http://swampland.time.com/2012/12/11/entitlement-cuts-loom-as-obstacle-to-fiscal-cliff-deal/</link>
		<comments>http://swampland.time.com/2012/12/11/entitlement-cuts-loom-as-obstacle-to-fiscal-cliff-deal/#comments</comments>
		<pubDate>Tue, 11 Dec 2012 10:45:04 +0000</pubDate>
		<dc:creator>Alex Altman</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=83271</guid>
		<description><![CDATA[For weeks now, as Washington slouches toward a New Year&#8217;s deadline for averting a potentially calamitous combination of automatic tax increases and sharp spending cuts, Barack Obama has insisted that any agreement to avoid the so-called fiscal cliff must include an agreement to raise tax rates on top earners. House Speaker John Boehner, the Republican negotiator charged with cutting a deal with the President, has yet to publicly accede to that demand. But in recent days, Republicans have begun bowing to the reality that the GOP has a weak position in the skirmish over tax rates. Obama campaigned on higher rates for the richest Americans and won. If no pact is forged, rates will rise for all taxpayers &#8212; and polls suggest Republicans will bear the bulk of the blame. Which is why a few influential Republicans have suggested that since the party will be forced to cave to Obama&#8217;s demands on tax rates, it should do so now, and retrench for the battles to come next year, when the GOP will have more leverage. That doesn&#8217;t mean Obama and Boehner will be able to prevent the country from toppling over the cliff. As a counterweight to a tax hike that is anathema to his members, Boehner needs to extract concessions from Democrats in the form of cuts to entitlement programs. Obama has expressed willingness to cut a deal that scales back such programs; during the misbegotten talks to craft a far-reaching deficit-reduction plan last summer, he put some $350 billion in cuts to federal health programs over the next decade on the table, so long as they accompanied sizable revenue increases achieved through rate increases or tax reform. The White House has been disciplined about keeping the substance of the President&#8217;s conversations with Boehner private, but having gone that far once, he is probably prepared to offer something similar again if the other pieces of the puzzle are in place. (VIDEO: TIME Explains: The Fiscal Cliff) But many Democrats are loath to agree to entitlement cuts. That&#8217;s partly because<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=83271&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2012/12/fiscal_obama_1211.jpg?w=200</featured_image>
		<media:thumbnail url="http://timeswampland.files.wordpress.com/2012/12/fiscal_obama_1211.jpg?w=200" />
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			<media:title type="html">Barack Obama</media:title>
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		<media:content url="http://1.gravatar.com/avatar/41a5f1af68b9fd647df540c67f1a464a?s=96&#38;d=http%3A%2F%2F1.gravatar.com%2Favatar%2Fad516503a11cd5ca435acc9bb6523536%3Fs%3D96&#38;r=G" medium="image">
			<media:title type="html">Alex Altman</media:title>
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		<title>Chained CPI: Is Changing the Government Inflation Formula the Secret to a Deficit Deal?</title>
		<link>http://swampland.time.com/2012/12/10/chained-cpi-is-changing-the-government-inflation-formula-the-secret-to-a-deficit-deal/</link>
		<comments>http://swampland.time.com/2012/12/10/chained-cpi-is-changing-the-government-inflation-formula-the-secret-to-a-deficit-deal/#comments</comments>
		<pubDate>Mon, 10 Dec 2012 22:24:15 +0000</pubDate>
		<dc:creator>Katy Steinmetz</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=83284</guid>
		<description><![CDATA[Washington is full of speculation this week as Democrats and Republicans examine different ways to cut spending, raise revenue and reform entitlements to avert the so-called &#8220;fiscal cliff.&#8221; One policy getting more attention is a new way for the government to calculate inflation. So what does that actually entail, and how much would it matter? Over time, the federal government makes cost-of-living adjustments to benefit programs like Social Security. As time passes, payouts increase to keep up with inflation. The size of that adjustment is based on a consumer price index, a measure of how much a fixed group of goods and services costs at any given time. The Bureau of Labor Statistics monitors people&#8217;s spending habits, as well as the prices of everything from bus fares to ladies&#8217; dresses to broccoli, and produces a variety of indexes. Social Security cost-of-living adjustments and federal retirement benefits are based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), the only index that was around when Congress mandated inflation-adjusted increases for Social Security and Supplemental Security Income in the 1970s. The CPI-W essentially estimates how much blue-collar urban workers have to spend each month to keep up the same standard of living. But many economists say this measure overestimates the effect of inflation. In recent years, some policymakers have suggested the government use a different measure of inflation&#8211;the Chained Consumer Price Index for All Urban Consumers, known by the cumbersome acronym C-CPI-U. The “chained&#8221; index, instituted in 2002, more heavily weighs consumers&#8217; tendency to substitute which goods they&#8217;re buying when prices change. For example: If the cost of cashews skyrockets, people might plop peanuts in their grocery baskets. If the price of steaks rises faster than the price of poultry, a household might eat more chicken. The chained index accounts for this by linking monthly data together rather than using a biennial estimate of which goods and services are being purchased, like the CPI-W does. So why would using chained CPI reduce the deficit? It grows more slowly—by about 0.3 percentage points<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=83284&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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		<slash:comments>0</slash:comments>
	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link>
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			<media:title type="html">Katy Steinmetz</media:title>
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		<title>Obama Won&#8217;t Budge on Top Tax Rates</title>
		<link>http://swampland.time.com/2012/12/04/obama-wont-budge-on-top-tax-rates/</link>
		<comments>http://swampland.time.com/2012/12/04/obama-wont-budge-on-top-tax-rates/#comments</comments>
		<pubDate>Tue, 04 Dec 2012 19:51:44 +0000</pubDate>
		<dc:creator>Alex Altman</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=83104</guid>
		<description><![CDATA[Barack Obama dug in Tuesday on his demand that any bargain to avert the so-called fiscal cliff include an agreement to raise taxes on the wealthiest Americans, warning that a deal would not be reached before the Jan. 1 deadline unless Republicans dropped their opposition to the rate hike. In his first interview since winning re-election last month, Obama said he was prepared to make painful unspecified cuts to government spending and social programs in order to rein in the deficit. But in order to forge a pact to sidestep austerity in the new year, Obama said, Republicans would have to accede to his demand that tax rates on the wealthiest 2% of Americans rise. &#8220;The issue right now that&#8217;s relevant is the acknowledgment that if we&#8217;re going to raise revenues that are sufficient to balance with the very tough cuts that we&#8217;ve already made, and the further reforms in entitlements that I&#8217;m prepared to make, that we&#8217;re going to have to see the rates on the top 2 percent go up,&#8221; Obama told Bloomberg Television&#8217;s Juliana Goldman. &#8220;And we&#8217;re not going to be able to get a deal without it.&#8221; The President has already vowed to veto a deal that doesn&#8217;t include such a provision. With less than a month before the U.S. faces a self-inflicted combination of sharp spending cuts and the expiration of Bush-era tax cuts, negotiators have adopted a bearish public tone about the prospects for a deal. The haggling has gone &#8220;nowhere,&#8221; House Speaker John Boehner groused on Sunday. Both Boehner and the President have put forth opening bids, with Obama asking for $1.6 trillion in tax increases over the next decade in a deal that precludes Medicare and Social Security cuts to beneficiaries and the House Speaker proposing to cut $600 billion from federal health programs over 10 years while raising $800 billion in revenue by limiting deductions and closing loopholes in the tax code. As expected, these offers were swiftly rejected by the opposing side. They are public markers that reflect the two parties&#8217; long-established priorities.<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=83104&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2012/12/1575380801.jpg?w=200</featured_image>
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			<media:title type="html">157538080[1]</media:title>
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			<media:title type="html">Alex Altman</media:title>
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		<title>As Fiscal Cliff Approaches, Mayors Warn of the Toll on Cities</title>
		<link>http://swampland.time.com/2012/11/19/as-fiscal-cliff-approaches-mayors-warn-of-the-toll-on-cities/</link>
		<comments>http://swampland.time.com/2012/11/19/as-fiscal-cliff-approaches-mayors-warn-of-the-toll-on-cities/#comments</comments>
		<pubDate>Mon, 19 Nov 2012 10:45:55 +0000</pubDate>
		<dc:creator>Alex Rogers</dc:creator>
				<category><![CDATA[Budgets]]></category>

		<guid isPermaLink="false">http://swampland.time.com/?p=82587</guid>
		<description><![CDATA[The so-called fiscal cliff looming on Jan. 1 will increase taxes on just about all Americans and hamper an array of federal programs. But its effect will be particularly crippling for American cities. The U.S. Conference of Mayors, a bipartisan group of 1,296 mayors who represent cities with populations above 30,000, recently called the sequestration process “perhaps the biggest threat to our metro economies.” Which is why a clutch of mayors went to Capitol Hill last week to plead their case to Congress, in hopes of reminding lawmakers of the damage the sequestration process will wreak on municipal economies. According to the group, American cities house 84% of the nation’s population. They also provide 86% of its jobs and account for 90% of its GDP. “Cities and metro areas are the economic engines,&#8221; says Michael Nutter, the mayor of Philadelphia and president of the Conference of Mayors. &#8220;We are the economy of the United States of America.” R.T. Rybak, the Democratic mayor of Minneapolis, says Congress doesn’t recognize the local impact of sequestration. In Minneapolis, the process will result in cuts to crucial social programs like domestic-abuse prevention and immunizations for children, Rybak says — which, in turn, will lead to higher costs for police and hospitals. “Too often,&#8221; he says, &#8220;a line-item cut in Washington one year will lead to an expense in a city the years after.&#8221; (MORE: Viewpoint: We Should Go over the Fiscal Cliff) Scott Smith, the Republican mayor of Mesa, Ariz., is worried how to keep municipal bonds tax-exempt. If that is eliminated, he says, it will raise the city&#8217;s borrowing costs for investments and curtail its ability to carry out crucial projects. &#8220;It not only hurts quality of service, but also is a job killer,” Smith says. The across-the-board cuts mandated by the sequestration agreement pose a challenge for mayors and locals, who are forced to prioritize essential services. &#8220;What the federal government seems to be saying is, Everyone needs to get a haircut, without any sense of what the national priorities are, or any<img alt="" border="0" src="http://stats.wordpress.com/b.gif?host=swampland.time.com&#038;blog=5284847&#038;post=82587&#038;subd=timeswampland&#038;ref=&#038;feed=1" width="1" height="1" />]]></description>
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	<primary_category>Budgets</primary_category><primary_category_link>http://swampland.time.com/category/congress/budgets/</primary_category_link><featured_image>http://timeswampland.files.wordpress.com/2012/11/1500_sl_cliff_1119.jpg?w=200</featured_image>
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			<media:title type="html">Michael Nutter</media:title>
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			<media:title type="html">drogers1271</media:title>
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