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There was a time when a $200+ billion reduction in the federal budget deficit would have been big news and hailed as a singular achievement worthy of either fiscal sainthood or a dance-on-the-table party...or both.

Yet yesterday's Congressional Budget Office report showing that the fiscal 2013 federal deficit will be $642 billion, $203 billion less than CBO's previous estimate of $845 billion, did not create any spontaneous cannonizations or celebrations. It also didn't change the still-stalemated and crisis-oriented federal budget debate by even a small amount.

The bottomline: It's in almost no one's interest to be happy about the budget news that should have made everyone happier.

Here's why.

Simpson and Bowles, those two hired pitchmen for budget-cutting hysteria, are still hawking an economy-killing product called "austerity economics," a product that's designed to benefit their wealthy patrons at everybody else's expense.  This philosophy provides some...

The Senate Heath, Education, Labor and Pensions Committee will vote Thursday on President Obama's nomination of Thomas Perez, currently head of the Justice Department's Civil Rights Division, to head the Department of Labor. There are a majority of Democrats on this...

Senate Republican obstruction of President Obama’s nominee for secretary of labor, Thomas Perez, got a strong rebuke from a coalition of Latino organizations that held a march and rally on Wednesday to call for an end to the filibuster threats to his nomination. “We...

Yesterday I wrote about how obstructionist Republican tactics are hollowing out our government, hobbling its agencies, and diminishing its responsiveness to the needs and concerns of ordinary Americans. Nowhere is this more apparent than in our court system, where...

Yesterday, in response to recent IRS admissions, President Obama called the enhanced investigation of conservative groups seeking tax-exempt status “intolerable and inexcusable.” And, Attorney General Eric Holder announced a criminal investigation into the allegations against the IRS. But both of them are missing the point.

The scandal here is not that political groups were targeted by the IRS, it's the fact that political groups are being subsidized by John Q. Taxpayer. Groups that are politically motivated, and not really “social welfare” organizations, shouldn't receive preferential tax treatment in the first place – regardless of their political affiliation.

Deficit Shrinking, Health Care Costs Slowing New CBO projection shows plummeting deficit. NYT: "Since the recession ended four years ago, thefederal budget deficit has topped $1 trillion every year. But now the government’s annual deficit is shrinking far faster than...

Deficit projections have already by $200 billion for this year alone, so why do Republicans keep lunging for ever-more radical spending cuts like they were corn dogs at a barbecue? That's more in deficit reduction than President Obama's proposed cut to Social Security...

On Thursday, House Republicans have scheduled a vote on a bill to repeal the Affordable Care Act. Haven't they already done that, you ask? Yes, they have, in one form or another, 36 times since it has been enacted. This week's vote would make 37. It's gotten to the...