Social Security paid out more to retirees and other beneficiaries than it collected in tax revenue in 2011. This is the second straight year the program is running deficits, as highlighted in a recent Congressional Budget Office (CBO) report. Social Security’s finances will only get worse without reform, as the …
A debate that has been fought largely over the airwaves is about to go head-to-head. Medicare reform is a huge part of that debate, and the left—bolstered by the media—has been promoting two huge falsehoods on the issue. Several proposals from conservatives and liberals for Medicare reform, including The Heritage …
President Obama recently said, “The most important lesson I’ve learned is you can’t change Washington from the inside.” That’s demoralizing to hear when a recession is bearing down on the economy—and it’s an inside job. The Congressional Budget Office has forecasted a fresh recession to hit next year if Taxmageddon, …
The controversy over the Obama Administration’s gutting of welfare reform continues to grow. Two new government reports show the move’s illegality and effects on taxpayers. And the House of Representatives is set to vote today to approve or disapprove Health and Human Services’ (HHS) rewriting of the 1996 law. Yesterday, …
The rhetorical Medicare wars have heated up this week, after President Obama declared in his Saturday radio address that his proposed reforms “won’t touch your guaranteed Medicare benefits. Not by a single dime.” This is incorrect. Obamacare cuts $716 billion from Medicare over the next 10 years, according to the …
The looming unsustainability of the big three entitlement spending programs—Medicare, Medicaid, and Social Security—is not inevitable, but in order to avoid the catastrophic effects of consuming every bit of tax revenue in just one generation, reform is a necessity. Take a look at Medicare, the largest portion of the projected …
The Congressional Budget Office (CBO) just released its latest concocted quarterly estimate on President Obama’s failed stimulus. CBO’s findings are as preposterous as its 11 previous studies of the stimulus, discussed here, here, and here. The story doesn’t change, because CBO’s faulty analysis doesn’t change. Each time CBO does an …
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 …
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 …
