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    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

    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

    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

    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

    Obamacare’s Big Surprises for the Uninsured

    The recently signed health-care legislation will have lasting consequences on health care in America. The massive two-piece package includes federal control of benefits, increased taxes, mandates on employers and individuals, and an expansion of costly and inefficient entitlements. This represents a federal takeover of the U.S. health care system on … 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