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    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

    A Tax Report in Search of the Economy

    On May 25, the Fiscal Analysis Initiative of Pew’s Economic Policy Group published an overview of what might happen to the federal government’s annual deficits should the tax relief of 2001 and 2003 be allowed to expire, be extended through 2012, or be made permanent. As readers may know, all … More

    Obamacare's Cooked Books and the "Doc Fix"

    The Obama administration continues to insist (see this post from White House budget director Peter Orszag) that the recently enacted health-care law will reduce the federal budget deficit by $100 billion over ten years and by ten times that amount in the second decade of implementation. They cite the Congressional … More

    Congress Deserves Better from the CBO

    While the supposedly non-partisan Congressional Budget Office (CBO) has tended toward a more partisan cast of late, in one matter at least the CBO appears to be fully non-partisan, and that is in the area of the Member kiss off. Case in point is a recent letter from CBO Director … More

    The Debt Commission and Obamacare

    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 … More

    CBO Admits that 1.5 Million ‘Stimulus Jobs’ Estimate Ignored Deepening Recession, Misspent Funds

    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 … More

    CBO Report Was Pre-Ordained to Show the Stimulus Succeeded

    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 … More

    Morning Bell: Don't Celebrate First Failed Stimulus with a Second One

    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. … More

    Social Security Surplus Withers, But That's No Surprise

    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 … More

    Reid 2.0: It's Still a Budget Buster

    The Obama White House and its congressional allies have tried all year to push their various bills through to passage by truncating the time between introduction and a decisive vote to the bare minimum. They figure the only way to get something passed is to minimize public review and scrutiny … More