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Trump Budget Based On $2 Trillion Math Error

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One of the ways Donald Trump’s budget claims to balance the budget over a decade, without cutting defense or retirement spending, is to assume a $2 trillion increase in revenue through economic growth. This is the magic of the still-to-be-designed Trump tax cuts. But wait — if you recall, the magic of the Trump tax cuts is also supposed to pay for the Trump tax cuts. So the $2 trillion is a double-counting error.

Trump has promised to enact “the biggest tax cut in history.” Trump’s administration has insisted, however, that the largest tax cut in history will not reduce revenue, because it will unleash growth. That is itself a wildly fanciful assumption. But that assumption has already become a baseline of the administration’s budget math. Trump’s budget assumes the historically yuge tax cuts will not lose any revenue for this reason — the added growth it will supposedly generate will make up for all the lost revenue.

But then the budget assumes $2 trillion in higher revenue from growth in order to achieve balance after ten years. So the $2 trillion from higher growth is a double-count. It pays for the Trump cuts, and then it pays again for balancing the budget. Or, alternatively, Trump could be assuming that his tax cuts will not only pay for themselves but generate $2 trillion in higher revenue. But Trump has not claimed his tax cuts will recoup more than 100 percent of their lost revenue, so it’s simply an embarrassing mistake.

It seems difficult to imagine how this administration could figure out how to design and pass a tax cut that could pay for itself when Ronald Reagan and George W. Bush failed to come anywhere close to doing so. If there is a group of economic minds with the special genius to accomplish this historically unprecedented feat, it is probably not the fiscal minds who just made a $2 trillion basic arithmetic error.

Watch: How Trump has flip-flopped since becoming president.

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chrisrosa
5 days ago
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the hits keep coming!
San Francisco, CA
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NewsBlur now supports the new JSON Feed spec

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Introduced and announced only last week by open web pioneers Manton Reece and Brent Simmons, JSON Feed is a new RSS-like spec that lets websites publish their stories in a much easier and human readable format.

From the JSON Feed spec authors:

We — Manton Reece and Brent Simmons — have noticed that JSON has become the developers’ choice for APIs, and that developers will often go out of their way to avoid XML. JSON is simpler to read and write, and it’s less prone to bugs.

Starting today, NewsBlur now officially supports the new JSON Feed spec. And there’s nothing extra you have to do. This means if a website syndicates their stories with the easy-to-write and easy-to-read JSON format, you can read it on NewsBlur. It should make no difference to you, since you’re reading the end product. But to website developers everywhere, supporting JSON Feeds is so much easier than supporting XML-based RSS/Atom.

Daring Fireball, as pictured above, supports the new JSON Feed. To you, the reader, it should look no different than any other RSS feed. But to the developer, publishing this as a JSON Feed instead of XML is an order of magnitude easier and quicker.

This spec is a terrific effort by open web advocates to make it easier to keep the web open and free by lowering the cost to writing and publishing.

Try it for yourself, just subscribe to this feed: https://daringfireball.net/feeds/json. Even viewing it in a web browser is more pleasant than its XML counterpart.

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chrisrosa
5 days ago
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good stuff from @newsblur #jsonfeed #rss
San Francisco, CA
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5 public comments
seriousben
4 days ago
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The JSON feed spec looks promising. Looking forward to implement it.
Canada
jkevmoses
5 days ago
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This is why I pay money and support this feed reader. Great job! Thanks.
McKinney, Texas
ameel
5 days ago
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Yay!
Melbourne, Australia
wmorrell
6 days ago
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The commit to add support is so short; 56 lines to map json to the NewsBlur field names, a few more spots sprinkled with checks for 'json' with 'rss', 'xml', etc
deezil
6 days ago
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@DigDoug Well here ya go!
Louisville, Kentucky

astromech-punk: a group of star wars fans go looking for...

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astromech-punk:

a group of star wars fans go looking for episode 8 filming locations and strike geek gold when they stumble upon the Millennium Falcon just sitting in a field all by itself.   

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MotherHydra
8 days ago
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I mean, just wow. Can't believe the whole thing is mostly scaffolding inside.
Space City, USA
chrisrosa
8 days ago
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San Francisco, CA
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The colors of Mister Rogers’ cardigan sweaters, 1979-2001

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Mr Rogers Sweater Colors

Using data from The Neighborhood Archive, Owen Phillips charted the color of every sweater Mister Rogers wore on his PBS television program from 1979 to 2001.

Some sweaters were worn once and then never again, like the neon blue cardigan Rogers wore in episode 1497. Others, like his harvest gold sweaters, were part of Rogers’ regular rotation and then disappeared. And then there were the unusual batch of black and olive green sweaters Rogers wore exclusively while filming the “Dress-Up” episodes in 1991.

Some things about the sweaters and Mister Rogers:

- His mother knit the sweaters. Sorry, MISTER ROGERS’ MOTHER KNIT HIS CARDIGAN SWEATERS! I have not heard a more perfect detail about anything recently. He talks about his mom and the sweaters in this video — “I guess that’s the best thing about things. They remind you of people.”

- As you can see from the visualization above, Mister Rogers’ sweaters got darker as the show progressed. I will not speculate about what that might have meant.

- The Mister Rogers Marathon on Twitch is still going.

- But if you miss the marathon, there are plenty of episodes available on Amazon Prime.

Tags: color   Fred Rogers   infoviz   Owen Phillips   TV
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samuel
9 days ago
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"I guess that’s the best thing about things. They remind you of people."
The Haight in San Francisco
rikishiama
7 days ago
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chrisrosa
9 days ago
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San Francisco, CA
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mercedes-benz unimog 4×4 restored to its former glory

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juxtaposing a dainty aesthetic with huge off-road capabilities, this blue mecedes-benz 'unimog' appears to be perfectly frozen in time.

The post mercedes-benz unimog 4×4 restored to its former glory appeared first on designboom | architecture & design magazine.

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chrisrosa
13 days ago
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adorable.
San Francisco, CA
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15 Best Things We Saw at Coachella 2017's Weekend Two

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Radiohead is not normally a band with anything to prove, but last weekend's sound production meltdown overshadowed their headlining performance. Weekend Two, however, provided a welcome chance at revision. What the band delivered Friday night was what we've come to expect from Radiohead: 22 songs of sweeping elegance and noise, forward-leaning and primal, exploring the complicated landscape of the human psyche. The band again opened with three songs from last year's A Moon Shaped Pool, starting with "Daydreaming," a forlorn piano ballad sung by bandleader Thom Yorke. On the hyperactive "Ful Stop," Yorke stood anxiously with a handheld keyboard and wailed to the overlapping bursts of guitar from Jonny Greenwood and Ed O'Brien. There was more controlled tension in "15 Step" (from 2007's In Rainbows) and cutting guitar lines on "Lucky" from Greenwood, who sliced a bow across his guitar strings on an eerie "Pyramid Song." It was a career-spanning set reaching back to 1995's aching "Fake Plastic Trees," updated subtly with new effects and textures along the edges. "Maybe this time you can hear me," Yorke said early in one of his few between-song remarks. This time it all unfolded flawlessly.

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chrisrosa
25 days ago
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way to go Justin!
San Francisco, CA
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