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    CBO Shows Obama's Budget Produces More Staggering Spending and Debt

    The Congressional Budget Office (CBO) estimate of the President’s budget reveals a reckless fiscal plan that shirks the spending cuts in the Budget Control Act and increases spending by more than $1 trillion over the next 10 years. It confirms that Obama is the first President to preside over four … More

    Obamacare: Higher Taxes, More Uninsured, Says CBO

    On March 13, the Congressional Budget Office (CBO) updated its score of Obamacare, announcing that the program is $48 billion cheaper than in its previous 2011 score. The primary reason for this change is that more individuals will lose their employer-provided coverage than originally anticipated, and the government will collect … More

    CBO Report: Spending Is Driving Debt to "Unsupportable" Level

    The most significant numbers in today’s updated estimates from the Congressional Budget Office (CBO) are not the official “baseline” figures. More important are CBO’s “alternative” projections, which make clear once again that too much spending—not too little tax revenue—is the biggest threat to the country’s fiscal and economic health. Among … More

    CBO Debunks Myth That Tax Code Favors Oil Over Renewables

    Environmental activists and liberal politicians are fond of bemoaning the supposedly disproportionate tax benefits that go to the fossil fuel industry compared to its renewable energy competitors. The president specifically has made “ending tax breaks for oil companies” a pillar of his paltry efforts to reduce the federal deficit. But … More

    CBO: Federal Accounting Understates Cost of Credit Programs

    According to the nonpartisan Congressional Budget Office (CBO), measurements of the budget impact of federal credit do not adequately address the risks involved, and may, in some cases, dramatically understate the costs of those programs. Under the current system, federal accounting practices do not “fully incorporate the cost of market … More

    CBO's Stimulus Review: As Good as a Horoscope

    One reason economists sometimes compare themselves to astrologers is that their forecasts are often equally accurate. But when it comes to analyzing government policy, economists have trouble even figuring out what happened in the past. Case in point: The most recent Congressional Budget Office (CBO) report of President Obama’s $831 … More

    Note to Congress: Swear Off Phony War Savings, Now and Forever

    Though the idea has been thoroughly discredited, the President and Members of Congress are still considering a large, thoroughly bogus “savings” option to help cover their profligate spending: They intend to claim war spending that was never going to be spent as “savings”—and then spend it on something else. It … More

    Federal Spending on Health Care Doubles in the Next Decade

    The Congressional Budget Office (CBO) released its Budget and Economic Outlook for years 2012 to 2022 yesterday, and as Heritage’s Patrick Knudsen shows, the numbers add up to a dismal fiscal future. As the government continues its fiscal irresponsibility, 2012 will be the fourth straight year of trillion-dollar deficits. This … More

    Morning Bell: Federal Workers Overpaid, and CBO Agrees

    Here’s some news that federal bureaucrats in Washington — and indeed around the country — don’t want to hear: According to a Congressional Budget Office (CBO) report released this week, federal workers are paid higher than their private-sector counterparts. The “alarming news” hit the national media yesterday, but there’s a … More

    Budget Outlook Getting Worse, CBO Report Shows

    The figures released today by the Congressional Budget Office (CBO) once again reflect the magnitude of the federal government’s fiscal problem and the urgent need for Congress and the President to address it. Some key points: The 2012 deficit, projected at $1.079 trillion, represents the fourth consecutive year of deficits … More