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  • fiscal cliff

    Carbon Tax a Recipe for Economic Disaster

    Hopefully, one half-baked idea will be off the fiscal cliff negotiating table: a carbon tax. While it seems that both Democrats and Republicans are becoming more creative in ways to raise revenue (rather than directly address the underlying problems of the fiscal cliff), two proposed bipartisan resolutions would publicly and … More

    Morning Bell: Obama Wants Power to Raise Debt Limit By Himself, Anytime

    President Obama wants to do away with Congress when it comes to raising the country’s legal debt limit. Instead of getting permission from the people’s elected representatives to borrow and spend more money, he wants to do that all by himself. It seems typical of the President Obama we know, … More

    Even Baseball Players Are Watching the Fiscal Cliff

    The fiscal cliff is getting closer by the day, and it’s not just Washington wonks who are noticing. Even baseball players are on fiscal cliff watch. Government Executive recently looked at the details of Major League Baseball star B.J. Upton’s newly signed five-year contract with the Atlanta Braves. There’s at … More

    White House Speeds Toward Fiscal Cliff, Declining House Republicans' Request for Terms

    Late Monday afternoon, the House Republican leadership lofted its latest offering to address the fiscal cliff. The kindest conservative response possible to this proposal is that it was “a dud.” It was much worse than a dud, however, as Heritage described in its initial response to the House proposal. Not … More

    Morning Bell: House Republicans Cave on Tax Increases and Punt Entitlements

    When President Obama put forth his first offer on the fiscal cliff, House Speaker John Boehner (R-OH) said, “You can’t be serious.” We could say the same thing to the Speaker after his counteroffer yesterday. In a letter signed by House Republican leadership, including Majority Leader Eric Cantor (R-VA) and … More

    Fiscal Cliff: House Republican Proposal Abandons Core Principles, Gains Little

    The House Republican leadership has offered a substantive counteroffer to President Obama’s frivolous fiscal cliff proposal of last week. At first blush, it appears little more than categorical, pre-emptive capitulation. To be fair, the details of the Republican proposal are extraordinarily vague. Nor is much clarity or comfort gained from … More

    Morning Bell: What IS the Fiscal Cliff?

    With just a few weeks left in 2012, all eyes in Washington are on Capitol Hill and the “fiscal cliff” negotiations. As usual, Congress and the President are taking highly contentious issues down to the wire before cutting a deal—never a situation that ends well for taxpayers. Federal Reserve Chairman … More

    Powerball Jackpot Taxes: How Much Government Would They Pay For?

    The two lucky winners of the Powerball jackpot are a part of Powerball history. Of course, the winnings are subject to federal taxes, making the spoils a little less sweet. But since the President wants to tax the wealthy, let’s see how much taxing these new multimillionaires buys us in … More

    Chart of the Week: Obama’s Fiscal Cliff Plan Has $4 of Tax Hikes to $1 of Cuts

    In one of heaven’s sweeter ironies, President Obama today launched the defense of his fiscal cliff proposal at a factory that makes…tinker toys. The setting perfectly reflected the Administration’s level of seriousness about the budget. The “plan,” presented to Republican leaders yesterday, consists of $1.6 trillion in tax hikes over … More

    Morning Bell: 6 Fixes to America's Fiscal Crisis

    President Obama made his first offer to congressional Republicans yesterday in negotiations over the “fiscal cliff”—an economic catastrophe of tax hikes just a few weeks away. The White House’s proposal? $1.6 trillion in tax increases, $50 billion in new stimulus spending, and a change that would make it easier to … More