Posts Tagged ‘Congressional Budget Office’

Washington Breaks Government Spending Record: $3.6 Trillion


Tuesday October 25th, 2011   •   Posted by David Theroux at 11:39pm PDT   •   1 Comment

The Wall Street Journal reports in “A New Spending Record: Washington had its best year ever in fiscal 2011″ that: Maybe it’s a sign of the tumultuous times, but the federal government recently wrapped up its biggest spending year, and its second biggest annual budget deficit, and almost nobody noticed. Is it rude to…
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‘Budget Hero’ Game Allows You to Try to Balance the Budget


Monday July 18th, 2011   •   Posted by Stephanie Freedman at 2:50pm PDT   •   1 Comment

An USA Today article discusses a new game ‘Budget Hero’ which allows players to enact their policy objectives while keeping the government from going broke. The article explains the demonstration: In a quick demonstration of the game, two college students, one taking typical Republican positions and the other Democratic, showed just how difficult it…
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Obama Floats New Tax on Miles Driven Based on Spy Device in Your Car


Thursday May 5th, 2011   •   Posted by David Theroux at 9:20am PDT   •   34 Comments

In The Hill, Pete Kasperowicz reports in “Obama administration floats draft plan to tax cars by the mile” that: The Obama administration has floated a transportation authorization bill that would require the study and implementation of a plan to tax automobile drivers based on how many miles they drive. The plan is a part…
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Obama Understates U.S. Government Deficits by $2.3 Trillion


Friday March 18th, 2011   •   Posted by David Theroux at 5:59pm PDT   •   1 Comment

The Associated Press reports that the Congressional Budget Office (CBO) questions the claims of the Obama administration regarding projected budget deficits over the next ten years in which the White House overestimates tax revenues and savings from Medicare payments to doctors. A new assessment of President Barack Obama’s budget released Friday says the White…
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CBO: Repealing Obamacare Would Reduce Federal Spending by $1.4 Trillion Over 10 Years


Saturday February 19th, 2011   •   Posted by David Theroux at 4:36pm PDT   •   3 Comments

In an article at the American Spectator by Philip Klein, he reports on the new report from the Congressional Budget Office (CBO) that shows that repeal of Obamacare (“Patient Protection and Affordable Care Act”) would cut $1.4 trillion from projected federal spending over ten years. In addition, even greater cuts of $732 billion could…
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How to Cut the 2011 Federal Budget by 2/3 and Have a $1.3 Trillion Surplus


Friday February 11th, 2011   •   Posted by David Theroux at 12:41pm PDT   •   22 Comments

In conjunction with its Government Cost Calculator, the Independent Institute is proposing cutting the 2011 Fiscal Year budget for the federal government by $2.5 trillion from the updated $3.7 trillion in spending projected by the Congressional Budget Office in January. The result would reduce federal spending by 67.6% with a surplus for the year…
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Former House Majority Leader Dick Armey: Cut Federal Spending by Scrapping Federal Programs


Thursday January 20th, 2011   •   Posted by David Theroux at 10:13pm PDT   •   0 Comments

In a January 19th article in the Wall Street Journal, “What Congress Should Cut,” former U.S. House Majority Leader Dick Armey and FreedomWorks President Matt Kibbe propose abolishing “the Departments of Commerce and Housing and Urban Development, end farm subsidies, and end urban mass transit grants, for starters.” The primary economic challenge today is…
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17 Shocking Statistics About the U.S. National Debt


Sunday January 9th, 2011   •   Posted by David Theroux at 8:40pm PDT   •   1 Comment

Michael Snyder reports on seventeen statistics on the unsustainable nature of reckless U.S. government spending and debt. 1. As of December 28th, 2010, the U.S. national debt was $13,877,230,355,933.00. 2. If the federal government began right at this moment to repay the U.S. national debt at a rate of one dollar per second, it…
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To Reduce U.S. Debt, Cut at Least 85% of Federal Government Spending


Saturday January 1st, 2011   •   Posted by David Theroux at 3:47pm PDT   •   8 Comments

In an article in the Wall Street Journal, “The Right Way to Balance the Budget,” Andrew Biggs, Kevin Hassett and Matt Jensen report that new research of 21 countries over the past 37 years shows that to reduce government debt, a major reduction of spending must be adopted instead of higher taxes. On average,…
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Higher Taxes Won’t Reduce the Deficit


Tuesday November 30th, 2010   •   Posted by David Theroux at 12:22am PDT   •   0 Comments

In a new article in the Wall Street Journal, Independent Institute Senior Fellow Richard Vedder and Journal Senior Economics Writer Stephen Moore explain why “Higher Taxes Won’t Reduce the Deficit: History shows that when Congress gets more revenue, the pols spend it”: The draft recommendations of the president’s commission on deficit eduction call for…
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