When the non-partisan Congressional Budget Office (CBO) released their original estimate of President Obama’s Budget , they said it was going to be expensive: in ten years the President would accumulate over $9 trillion in deficits. Turns out, that was low-balling it. In their original estimate, CBO assumed that interest …
Two days into the new Congress, the majority has signaled they are unlikely to take their promise of fiscal discipline seriously. House democrats have turned off the Medicare trigger under the rules package for the 111th Congress, which means they are unlikely to even debate entitlement policy, let alone engage …
Most people are skeptical about statistics, claiming that mathematically-minded people just bend numbers to their will. But when it comes to long term budget projections, economists from the left, right, and center all agree we on an unsustainable course, and that the entitlements—Social Security, Medicare, and Medicaid—are the main driver …
When it comes to retirement and pension benefits, federal, state, and local government officials have all been humming the same mantra: never pay for something today if you can put off paying for it until tomorrow. Unfortunately, tomorrow is here. The federal government is on the hook for $41 trillion …
