Showing posts with label CBO. Show all posts
Showing posts with label CBO. Show all posts

The Congressional Budget Office Foresees A $30 Trillion Debt As A Result Of Looming Tax Hikes And Obamacare

by Stephen Dinan.     The federal government will be flirting with $30 trillion in debt within a decade, the Congressional Budget Office reported Monday, blaming an aging population, new spending and tax cuts approved on Capitol Hill, and the growing burden from Obamacare for erasing the progress Washington had made over the past few years.     ... MORE

Veronique de Rugy: The Government Wasted Tons Of Money On 'Shrimp Fight Club' And A Million Other Things

Waste, fraud, abuse, and monkeys on hamster wheels.  In honor of the release of the new Star Wars movie, Sen. Jeff Flake (R-Arizona), subtitled this year's "Wastebook" as "The Farce Awakens." The latest edition of this annual report details 100 spending programs—totaling $108.5 million—that are a complete waste of your money.    ... MORE

No Taxing Our Way Out of Looming Health Spending Crisis

by Mallory Carr.      The fiscal train wreck that Obamacare and other health care entitlements will inevitably cause is quickly approaching—and no amount of tax increases can save us from the crash. Although the “Eat the Rich” and “Tax the one percent” way of thinking is currently in vogue, these catchy sound-bites remain nothing more than pithy    ... MORE

America's Unsustainable Long-Term Debt Trajectory

by Peter Suderman.       In the past year or so, the White House has become increasingly aggressive in touting President Obama’s achievements in reducing the deficit. The deficit has been “cut by more than half since 2009,” a 2013 blog post by the White House Office of Management and Budget declared, pointing to the shrinking of  ... MORE

IRS Moves To Collect Billions In Fees From Healthcare Law

by Ben Goad.    The Internal Revenue Service on Friday unveiled its proposal to raise tens of billions of dollars through annual fees on health insurers, prompting fierce criticism from industry groups who warn the costs will be passed along to consumers. The proposed rule from President Obama's healthcare law will be published for public    ... MORE

Thomas Sowell - Prophets And Losses II

Federally-issued blue smoke and mirrors. People on both sides of tax issues often speak of such things as a "$300 billion tax increase" or a "$500 billion tax decrease." That is fine if they are looking back at something that has already happened. But it can be sheer nonsense if they are talking about a proposed increase or decrease in the tax rate.          ... MORE

The Three Not So 'Wise Men Of Washington, D.C.

These politicians are cooking the books.    Washington politicians are scaremongering that if no deal is reached between President Obama and congressional Republicans, taxes will go up on all of us January 1, when Bush tax rates expire. Nonsense. Most people have their taxes withheld gradually during the year. The president has the       ... MORE

Matt Cover: Obama Bailout Claim Off By $24 Billion

Obama: "got back every dime."  CBO: lost $24 billion. President Barack Obama said on Thursday that “we got back every dime we used to rescue the financial system." According to the Congressional Budget Office, however, the government will lose about $24 billion on the bailout. “We got back every dime we used to rescue the financial system, but    ... MORE

Government's Own Numbers Crunchers See Collapse Ahead

by Ralph R. Reiland.    The way the federal government runs things is already bad enough, but it's officially projected to get only worse, much worse, in the years ahead according to the government's own number crunchers. In fiscal year 2011 -- October 1, 2010 to September 30, 2011-- the Congressional Budget Office (CBO) reports that the federal        ... MORE

Thomas Sowell: Big Lies In Politics

A throwback to a Nazi philosophy.    It was either Adolf Hitler or his propaganda minister, Joseph Goebbels, who said that the people will believe any lie, if it is big enough and told often enough, loud enough. Although the Nazis were defeated in World War II, this part of their philosophy survives triumphantly to this day among politicians, and nowhere more  ... MORE