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    Simpson–Bowles Redux: Another $600 Billion Tax Increase

    Erskine Bowles and Alan Simpson, former co-chairs of the 2010 White House deficit-reduction panel whose plan failed, released an outline for a new proposal on their own today. A Bipartisan Path Forward to Securing America’s Future lacks any significant details but does include a $600 billion tax increase in addition … More

    Morning Bell: Spending Cuts Are Happening, One Way or Another

    Federal budget cuts called “sequestration” are scheduled to hit in just 10 days. The sequestration cuts are not perfect—they’re a blunt instrument to cut spending, rather than a deliberative plan that sets priorities, trims entitlements, and cuts other spending. But they are law. It would be better to replace them … More

    Senate Sequester Plan: They Can’t Be Serious

    The Hill newspaper demonstrated a keen knack for understatement today with its account of Senate Democrats’ $110 billion sequester replacement proposal: “The bill would appear to have little chance of reaching President Obama’s desk, however, given opposition from House and Senate Republicans to increasing any taxes to replace the sequester.” … More

    Watch Out…The President's Talking "Balance" Again

    If you aren’t nervous, you should be. The President is, once again, talking about a “balanced approach” to fixing sequestration—the across-the-board budget cuts scheduled to hit America. Translation: your pocketbook is threatened. The last time the President negotiated a “balanced” package was January’s fiscal cliff deal. He said that only … More

    Obama Jobs Council Disbanded - Despite Economy, Jobs as Top Priority for Americans

    President Obama has allowed his jobs council to expire - even though “strengthening [the] economy” and “improving [the] job situation” continue to be top priorities for the American people, according to the Pew Research Center. This action fits with the President’s pattern of ignoring job-creating recommendations that don’t align with his views. … More

    CBO: Tax Increase Fails to Solve Spending and Debt Crisis

    While President Obama keeps calling for more taxes, today’s figures from the Congressional Budget Office (CBO) show the tax hike he signed into law just last month will provide no lasting improvement in the federal government’s fiscal outlook. This is because spending continues to grow, driving deficits back toward the … More

    Obama’s Sequester Proposal: Details AWOL

    In another stunning failure of leadership, President Obama today asked Congress to delay the scheduled across-the-board spending cuts, including those that will decimate the national defense budget—but once again offered no specific policies that he would support. “Obama did not outline a specific proposal,” wrote The Washington Post, but he … More

    Phil Mickelson and His Tax Bogey

    Professional golfer Phil Mickelson, one of California’s many but dwindling wealthy, apparently carded a bogey when he intimated over the weekend that the near 60 percent marginal tax rate on the state’s millionaires may be enough to make him flee to a lower tax burden state. In November, the state … More

    Morning Bell: Obama's Second Inaugural Address, Translated

    Members of Congress—who are about to debate raising the debt ceiling tomorrow—should have paid attention yesterday. The President was very clear that he sees no urgency about reducing the debt and cutting the deficit. In fact, in his second inaugural address, President Barack Obama was honest about his intentions to … More

    Smaller Paycheck? Welcome to Obama's Post-Fiscal-Cliff World

    Working Americans receiving their first full paycheck of the year may have had a rude awakening today. Despite all the President’s promises not to raise taxes on the middle class, he did exactly that. By allowing the payroll tax holiday to expire at the end of 2012, President Obama and … More