The Congressional Budget Office’s (CBO) official score of President Obama’s budget shows in numbers a vision for economic decline in America. The President imposes a tax increase totaling $1.1 trillion (and a net increase of about $1 trillion), some components of which would directly hit middle-class and lower-income Americans. On …
This week, the House Republican conference met to discuss what their priority will be in connection with any vote to increase the debt ceiling. This is timely since the current suspension of the debt limit expires tomorrow. According to reports of the Republican House caucus meeting, “Members came away with …
At $642 billion, the Congressional Budget Office (CBO) reports, the 2013 deficit will be lower by $200 billion than previously forecast. In February, the CBO projected a deficit of spending over revenue of $845 billion, but a large and temporary boost in revenues is pushing that figure down. Like the …
Congress and the White House have been focused for much of this year on the federal budget—rightfully so, given perennial deficits and unsustainable levels of U.S. debt. However, federal spending accounts for only a portion of the burden placed on Americans by the government. Regulations impose huge additional costs, hindering …
Congress rammed Obamacare through without many Members even reading the bill. Now it’s applying that same frantic, complex, pie-in-the-sky legislating to immigration. The similarities are frightening. 1. Extreme Costs The Government Accountability Office now projects that under the most realistic scenario, Obamacare will add $6.2 trillion to the primary deficit …
Reports that the federal government will put a little bit of money toward the massive federal debt for the first time in six years make for an interesting tidbit, but Washington’s spending and debt problem is only getting bigger. The Wall Street Journal reports, “The Treasury Department said that it …
