Committee for a Responsible Federal Budget

Weekend Editorial Roundup

Mar 8, 2010 | Budget Process

Here are the highlights from this weekend’s editorials on fiscal and budget policy:

The New York Times called on Congress to do more to create jobs.  They criticized Congress for not being able to pass "a puny bill that is expected to create, at most, a few hu ndred thousand jobs this year.  The Times suggested making another round of fiscal aid to the states to prevent counterproductive fiscal tightening.

The Washington Post said that the current health care bills, specifically the Senate one, need more or stronger cost control measures.  They specifically chided President Obama for proposing to delay the "Cadillac tax" on high cost insurance plans until 2018, and they expressed concern that Congress might prevent the implementation of the tax when it is scheduled to take effect.

A Washington Post editorial claimed that hedge fund speculation against the euro that exacerbated Greece's debt crisis may have actually been beneficial in the long run.  They said that not only has the crisis forced Greece to reduce their large structural deficits, but it also might force Europe to realize that they can't have a single currency without an enforceable fiscal policy. 

The Wall Street Journal questioned if President Obama would bypass reconciliation by "tricking" the House into passing the Senate bill.  They claimed that this is the preferable option for the White House, so they might back off their call for reconciliation fixes if the House does indeed pass it.  The Journal advised House Democrats to watch out that Obama might try to pass a bill at any political cost for the sake of his own legacy.