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    Morning Bell: We Can't Spend Our Way to Recovery

    When President Barack Obama was selling his economic stimulus plan to the American people, he promised that, if enacted, the legislation would prevent unemployment from rising above 8%.  $3 billion in Cash for Clunkers bailouts, $10 billion in government union bailouts, $16 billion in Medicaid bailouts, $13 billion in home … More

    CBO Warns of the Risk of a U.S. Fiscal Crisis

    It’s difficult to forget the drama—including riots, fires, and even deaths—that unfolded during Greece’s recent fiscal crisis. But what would happen if bad budget policy led to a financial crisis in the United States? A recent report from the Congressional Budget Office (CBO) points out the economic casualties of a … More

    Where Did Rep. Rodriguez (D-TX) Get that $4.1 Trillion Number From?

    Rep. Ciro Rodriguez (D-TX) does not like having his credibility questioned. Defending his vote for Obamacare in what appears to be a restaurant in his home district, a video on YouTube shows Rodriguez claiming: If we had not done anything in the next eight years based on CBO, congressional budget … More

    CBO Plays "Let's Pretend" on Kerry–Lieberman Scoring

    Here’s a principles-of-economics question: Suppose the U.S. gross domestic product (national income) is currently $14 trillion. Then suppose the U.S. raised all tariff, income tax, and sales tax rates to 100 percent. How much money would the government collect? If you realized that nobody would generate taxable income under such … More

    The Time is Now for Social Security Reform

    Today, the Congressional Budget Office (CBO) released its Social Security Policy Options report, which highlights some of the proposals made by policymakers and legislators to restore the Social Security program to long-term sustainability. Social Security, which provides living assistance to retired workers and those with disabilities, is in need of … More

    CBO Reveals Magnitude of Reform Needed for Sustainable Fiscal Future

    The Congressional Budget Office (CBO) released their annual Long-Term Budget Outlook today, and the updated projections—which include the effects of Obamacare—paint a grim picture. If Obamacare really did bend the cost curve down, CBO shows little evidence of it in this report. In fact, CBO openly admits that “projections understate … More

    Bringing Leviathan to Life: Experts Look at the Implementation of Obamacare

    A June Health Affairs briefing on the implementation of the Patient Protection and Affordable Care Act (PPACA) showed just how deep the chasm is between many of Washington’s policy experts and ordinary Americans.  At the briefing, panelists discussed the potential impact and implementation of the PPACA amidst the public’s uncertainty … More

    Side Effects: Obamacare Creates a Costly Drop in Employer Health Coverage

    The President repeatedly promised that if you liked your health plan, you would be able to keep it. Nothing would change. Fat chance. In fact, millions of Americans of Americans will lose or be transitioned out of their existing employer based health insurance. The official Actuary at HHS- who doesn’t … More

    In Their Own Words: CBO Admits Obamacare Unsustainable

    This Wednesday CBO Director Doug Elmendorf gave a slide presentation on Capitol Hill titled: Health Costs and the Federal Budget. Elemendorf’s very first slide reads: Rising health costs will put tremendous pressure on the federal budget during the next few decades and beyond. In CBO’s judgment, the health legislation enacted … More

    Leveling the Budget Playing Field by Fixing A Kinky CBO

    Americans believe in fair play. They believe in equal opportunity, equal treatment under the law, a level playing field. We have so many expressions for this principle in part because it is so important to the American view of right and wrong. When it comes to taxing and spending in … More