The president’s debt commission had its first meeting this week, and all of the talk was of getting serious about putting our fiscal house in order, with everything “on the table” for consideration. There’s no arguing with the need to get serious. According to the Congressional Budget Office (CBO), if …
A few weeks ago, I posted that CBO’s estimate that the stimulus created saved 1.5 million jobs was not based on any actual examination of the post-stimulus economy. Instead, CBO essentially re-released their initial prediction that the stimulus would work, and presented that as proof that it did work. This …
The Congressional Budget Office (CBO) has produced a new report estimating that the $862 billion stimulus has thus far saved or created 1.5 million jobs. Yet the CBO’s calculations are not based on actually observing the economy’s recent performance. Rather, they used an economic model that was programmed to assume …
Tomorrow is the one-year anniversary of the American Recovery and Reinvestment Act, or as it is more accurately described, President Barack Obama’s Failed Stimulus. When President Obama signed the now $862 billion deficit-spending bill into law, the unemployment rate stood at 7.6% and the U.S. economy employed 133.5 million people. …
Hundreds of thousands of recession-induced retirements are proving to be terrible news for the Social Security Administration, leading to the total decimation of its annual surplus for the first time in 25 years, according to USA Today. But this morning’s headline really doesn’t qualify as “news,” per se, given that …
Christmas is coming early for a few lucky states including Hawaii, Massachusetts, Nebraska and Vermont. But their good fortune will come at the expense of other states. Overall, the government health care plan is still alive and well in Majority Leader Harry Reid’s (D-NV) manager’s amendment released this morning, hiding …
On October 23rd, a reporter asked Speaker Nancy Pelosi (D-CA): “Madam Speaker, where specifically does the Constitution grant Congress the authority to enact an individual health insurance mandate?” Speaker Pelosi shook her head and before moving on to another question replied: “Are you serious? Are you serious??” Pressed for a …
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 …
