Sen. Paul to cut $0.5 trillion – as a first step.

This is bold.. and where the conversation at some point has to start..

Though he’s a freshman just weeks into his term in the Senate, Rand Paul is refusing to be a wallflower when it comes to his vision for cutting $500 billion from the federal budget this year and slashing even more spending in the long run.

On Monday, the Kentucky Republican took his argument to the Wall Street Journal’s op-ed page, where he makes the case for a plan he introduced last month that would roll back most spending to 2008 levels and make other strategic cuts. While “[m]any in Washington think that a one-year, $500 billion spending cut is too bold,” Paul writes, the move is just “a necessary first step toward ending our fiscal crisis.”

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Happy New Year to China!

Today is new year’s eve in China, as we are leaving the Tiger – and entering the Rabbit. They designate each year to a different animal, in a cycle of twelve different types – and people usually just say which animal they are born in.. From chinapage:

This system is extremely practical. A child does not have to learn a new answer to the question, “How old are you?” in each new year. Old people often lose track of their age, because they are rarely asked about their present age. Every one just have to remember that he or she was born in the “Year of the Dog” or whatever.

It’s also the beginning of 2011 – or 4708 in the Chinese calendar. Happy New Year, China!!

Feb 3rd.. entering the year of the Rabbit.. this from Yixing, East China. Happy Xin Mao!

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As goes Illinois..

Not in large amounts – but they’re going for the cut AND tax medicine.. Income and corporate tax are raised by about 2 points.. Let’s see how this plays out – and how other troubled states like NY, NJ and CA follow up.

From the NyTimes:

For years, Illinois, like so many states, pretended that it had not fallen off a budgetary cliff. It was spending too much and taking in too little revenue, but every year it would kick its problems into the next. Unable to pay its bills, it finally accepted reality last week and raised taxes on incomes and businesses — a first step toward getting its house in order. [..]

With federal stimulus aid ending, states are in for their worst year in generations, and they cannot get out of it by either cutting or taxing alone. Illinois is figuring that out, finally. Too many other states are still in denial.

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Happy New 2011..!!

Thanks to WordPress and all my blogging-friends for a GREAT 2010..

Happy New Year everyone – and all the best for 2011…!!

A special thanks goes to my favorite bloggers Moe, jb, Minnesota Farmer, UndertheLobsterScope, DrudgeRetort, esnl, Bruce and all the people who visit here from time to time. Happy 2011..!!