Jeff Stein Profile picture
Feb 19 7 tweets 3 min read
New: Trump’s OMB director, proving influential in GOP debt talks, wants to avoid Medicare/SS but is pushing to pulverize programs for the poor

His budget calls for:
- $2T cuts to Medicaid
- $600B cuts to ACA
- $400B food stamps cut
- Halve head start

washingtonpost.com/us-policy/2023…
If you want to balance the budget, rule out tax hikes, mostly keep the defense budget, and avoid Medicare/SS, your only option is to eviscerate the relatively small portion of the budget devoted to anti-poverty

Vought calls this ending “woke and weaponized” government
One challenge for Vought is that the debt exploded under his tenure as director of the budget — Trump repeatedly overruled the deficit hawks in his administration to cut deals with Democrats

Whether Trump really agrees with Vought’s vision on spending is … murky at best
One striking example of what Vought wants: To eliminate the Public Service Loan Forgiveness program, created to encourage graduates to pursue public service

Vought writes this is taxpayer $ for “the woke bureaucracy”
A problem for someone like Vought is some GOP lawmakers believe in various parts of the federal government

The response seems to be to try to cast it as “woke” to polarize the GOP against it

So here Vought pushes cutting the DOJ budget bc it serves a “woke religion”
The Department of Health and Human Services? Also “woke,” Vought says
Vought budget —>

NASA = woke, must be cut
HUD = woke, must be cut
Economic Development Administration = “hyperwoke,” must be cut
VA = “replete with woke ideology”

The word woke is used 77 times in his 104-page document

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More from @JStein_WaPo

Feb 21
🚨🚨Results from biggest study on 4 day workweek:

— 73% of workers report being happier w/ their lives
— 40% reported fewer sleep problems
— 64% drop in quitting, 71%
drop in reported burnout
— 92% of firms say they’ll continue 4 day week after trial
— No drop in wages in trial
Nearly 3,000 employees took part in the pilot, which was organized by the advocacy group, 4 Day Week Global, in collaboration with the research group, Autonomy, and researchers at Boston College and the University of Cambridge

@BelleTimsit reports:

washingtonpost.com/wellness/2023/…
Of the 61 companies (and their 2,900 workers) who participated in the study, these are the results of who will maintain the reduction in work hours on a permanent basis: Image
Read 7 tweets
Jan 21
New: Biden aides see huge downsides to 1) negotiating policy w/ GOP over debt limit; & 2) all unilateral options

For now, they’re focused on pressing the GOP to releasing a plan - which they’re optimistic will prove so divisive their brinkmanship softens

washingtonpost.com/us-policy/2023…
Thinking behind 1 is obvious:
— Can’t reward GOP for taking US economy hostage. Bad precedent
— Ds actually did well in midterms (Senate gains, eg)
— Substantive opposition to spending cuts
— Belief in political upside for hammering GOP for wanting Social Security/Medicare cuts
2 more complicated but:
— Concern uncertainty will wreak havoc w/ Treasury auctions
— Havoc could lead to spike in borrowing costs & undermine US dollar
— SCOTUS could nullify & put WH in weaker position

Maybe will get a new look if on the other side of X Date — but not for now
Read 5 tweets
Jan 20
I asked @rohangrey & @NathanTankus — 2 of the leading theorists behind the “Mint the $1 Trillion Coin” idea — about some of the concerns I’d been hearing from those close to the White House about their plan Their responses, shared w/ permission, are worth reading
Whether you agree with them or not, I have a hard if not impossible time seeing former Fed Chair Janet Yellen supporting this plan
Read 4 tweets
Jan 13
Scoop: House GOP preparing emergency plan telling Treasury how to spend $ if borrowing limit breached

Likely to call on preserving: Interest payments, DOD, Medicare, Social Security, VA benefits. (This leaves out ... many things)

Part of deal b/w McCarthy & conservatives
Idea is for Rs to say Treasury can make interest payments even w/o borrowing

Senior D: “Any plan to pay bondholders but not fund school lunches or the FAA or food safety or XYZ is just target practice for us"

Chip Roy says McCarthy agreed to do by Q1

washingtonpost.com/us-policy/2023…
Also I am back from Ukraine and your regularly scheduled tweets on Taxes, Transfers, and Taco Bell will recommence
Read 6 tweets
Nov 11, 2022
Here's the one-page document striking down Biden's student debt relief program, reported earlier by @mstratford Image
Yes, a Trump appointee
Biden officials have previously said that they will appeal this decision and there's a chance they have a better shot with the appellate courts
Read 4 tweets
Nov 10, 2022
Scoop: Biden will nominate Daniel Werfel to be the next commissioner of the Internal Revenue Service, 3 sources familiar with the matter tell The Washington Post

Comes at a pivotal juncture for IRS

W/ @TonyRomm

washingtonpost.com/us-policy/2022…
@TonyRomm Sources say @jdcmedlock may be in line to be the commissioner of IRS memes in 2023
The IRS commissioner under George W. Bush tells me: “This is a very good appointment. Werfel is an experienced executive who understands the service and helped out at a critical period in 2013," following the Lois Lerner controversy

washingtonpost.com/us-policy/2022…
Read 4 tweets

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