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    Are Spending Cuts as Harmful as Tax Increases?

    Wednesday’s warning by the Congressional Budget Office (CBO) that the fiscal cliff is likely to push the economy back into recession should bring things sharply into focus for lawmakers. The CBO is correct that the fiscal cliff will lead to a recession, but its report contains faulty economic reasoning. The … More

    Morning Bell: Another Recession Is Imminent

    Yesterday, the Congressional Budget Office (CBO) reported that without a doubt, America will have a fresh recession next year unless Congress and the President prevent it. We are facing the largest tax increase in history—Taxmageddon, scheduled to take effect January 1—and what experts are calling a “fiscal cliff” of sharp … More

    Obamacare Loses Again in Deficit Reduction Debate

    Niall Ferguson poked a hornet’s nest Sunday with his Newsweek cover story, in large part for its claim that Obamacare would increase the budget deficit. “Anyone who actually read, or even skimmed, the CBO [Congressional Budget Office] report knows that it found that [Obamacare] would reduce, not increase, the deficit,” … More

    CBO Warns: President Obama and Congress Risk Triggering Another Recession

    About 1.6 million American jobs hang in the balance. That is the clear implication of analysis contained in the annual budget update by the Congressional Budget Office (CBO). Along with all manner of dire and dreary budget data reflecting President Obama’s budget and economic policies to date, CBO provides its … More

    What Are the Odds Your Employer Will Drop Health Coverage?

    Since Obamacare was enacted into law, different organizations have come out with different estimates of how many employers will drop health coverage for their employees. This week, the health care consulting firm Deloitte released a new survey that found that around 10 percent of employers would drop coverage and send … More

    Morning Bell: Obamacare Falls Short of Promises to Uninsured

    Two new reports out yesterday continue to knock down President Obama’s promises about Obamacare: his “If you like your plan, you can keep it,” and the promise to significantly shrink the ranks of the uninsured. According to a new study from consulting firm Deloitte, almost one of out of 10 … More

    CBO Stimulus Report Begs the Question

    Imagine I told you that if you were to spin around in place 1,000 times really, really fast in the opposite direction to the earth’s rotation, it would actually cause the earth to spin in reverse. You’d think I’m crazy, right? But just for fun, you spin around 1,000 times … More

    Medicare: Admitting You Have a (Structural) Problem Is the First Step

    A new study by the Urban Institute reconfirms a vital fact: Medicare’s massive increase in enrollment, largely attributable to retiring baby boomers, is driving its fiscal instability. This is an important finding, because during the health care debate of 2009, advocates of Obamacare insisted that excess health care cost inflation … More

    Chart of the Week: Obamacare's Bundle of Budget Gimmicks

    President Obama has touted reports from the Congressional Budget Office claiming his health care law would actually decrease the deficit. But due to a bundle of budget gimmicks and other legislation, calculations show that Obamacare actually adds $698 billion to the deficit. This week’s chart outlines each of those budget … More

    CBO's Estimates of Obamacare, Revisited

    Some apologists for Obamacare are trying to tout recent analyses from the Congressional Budget Office (CBO) as confirming once again that the health law will cut projected future budget deficits. But CBO’s recent analyses—including updated projections of the costs of the new entitlement spending in the so-called exchanges and some … More