Sometimes in post-election America, there is excitement about what the future will bring. This time around, the prospect is rather horrifying. America is racing, pedal to the metal, toward the fiscal cliff—a mixture of tax hikes and defense cuts that loom just after New Year’s. The same Congress and the …
The third and final presidential debate between President Obama and former Governor Mitt Romney will feature several different questions on the role of America abroad and other aspects of foreign policy. Obama and Romney will likely address the nation’s impending spending crisis and automatic defense budget cuts, known as sequestration. …
Tonight’s presidential debate is a good opportunity for President Obama and Governor Mitt Romney to tell the nation what they would do about our spending crisis and the looming fiscal cliff—in particular, the problem of the automatic defense budget cuts. Leadership on this issue is crucial. Some conservative lawmakers are …
Fiscal year 2012 concluded with a $1.1 trillion deficit, according to the Congressional Budget Office’s monthly budget review released today. It marks the fourth year of trillion-dollar-plus deficits. Anyone can see that these massive, continued deficits are hardly sustainable. Despite claims that tax hikes are the solution to reduce the …
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, …
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 …
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 …
Proof of President Reagan’s wisdom keeps cropping up. A fresh example: The U.S. has retained its AAA credit status with Fitch Ratings, mainly due to the fundamental strengths of its free-market economy; but a long cloud threatens the outlook—and it comes from the government’s increasingly unstable fiscal condition. In short, …
