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  • Obama’s Faith-Based Economics

    On the stimulus’s first anniversary, keep in mind one number: 9 million. That is the Obama jobs gap — the difference between the 3+ million net jobs President Obama said would be created (not just saved) and the nearly 6 million additional net jobs that have since been lost. By … More

    Obama Misdiagnoses Source of Deficits

    President Obama says he wants to reduce America’s record trillion-dollar deficits. Too bad he hasn’t even correctly diagnosed their cause. During his State of the Union Address, the president asserted: “At the beginning of the last decade, America had a budget surplus of over $200 billion. By the time I … More

    CBO Baseline Shows Staggering Debt

    The Congressional Budget Office (CBO) today released a ten-year budget baseline showing $6 trillion in deficits over the next decade. Yet because Congress requires the CBO to include all sorts of unrealistic assumptions (that all tax cuts will expire, that the AMT will never again be patched, that discretionary spending … More

    President Obama’s Fictional Spending Cuts

    Last spring, President Obama proposed $11.3 billion worth of discretionary spending cuts. Today’s Washington Times notes that Congress accepted $6.9 billion worth of these cuts, a 61 percent success rate. In a $3.6 trillion federal budget, that comes to just 0.2 percent of the federal budget. But there is a … More

    House Democrats Double Down With Another Stimulus

    Albert Einstein famously defined insanity as “doing the same thing over and over again and expecting different results.” So after a $787 billion stimulus that was supposed to create (not merely save) 3.3 million net jobs but instead saw 3.4 million net jobs lost, House Democrats this week have doubled … More

    House 'Minibus' Not So Mini

    Congressional leadership has unveiled an a $446.8 billion “minibus” that will cover six annual appropriations bills, leaving only the defense bill to pass separately. Assuming these bills pass, discretionary spending will have jumped by 8 percent for the third consecutive year since the Democrats took control of Congress in 2007. … More

    CBO Says Stimulus Is Working Because We Predicted It Would

    The Congressional Budget Office today released a report asserting that the stimulus succeeded in creating growth and jobs. If this seems completely detached from reality, it’s because CBO did not actually analyze the performance of the economy — including the rapid increase in the unemployment rate since the stimulus was … More

    New Resolution Would Better Enforce PAYGO: Will Democrats Allow a Vote?

    Rep. Ed Whitfield (R-KY) has proposed a novel way to strengthen the House Pay-As-You-Go (PAYGO) rule. PAYGO – which requires that all legislation expanding entitlements or cutting taxes be fully offset – has been exposed an ineffective gimmick. PAYGO exempts discretionary spending increases (which comprise 40 percent of the budget) … More

    New Study Puts ObamaCare Deficits over $1 Trillion

    During tonight’s address to Congress, President Obama is expected to repeat his contention that health care reform should reduce federal health care costs and not expand the budget deficit. The House health bill (as amended by the Energy and Commerce Committee) fails those standards according to a new Lewin Group … More

    Don’t Be Fooled - House Health Care Bill Would Raise Long-Term Deficits

    Contrary to several reports, the House Democratic health care bill (H.R. 3200) is not deficit-neutral, but would raise deficits to alarming new levels over the long term. It would do this by relying on several old warhorse budget gimmicks. According to the Congressional Budget Office (CBO), H.R. 3200 would increase … More