Ben Goddard writes in The Hill about the new taxpayer revolt in California this week. The political establishment put together a package of initiatives that it thought would fix the budget process there – but the people weren’t buying it. The only thing they passed was the measure to ban salary increases for legislators if [...]
We’re big on making the numbers real around here – such as by giving you the cost per family and per person of the bills moving through Congress.
Well here’s a video that illustrates some very interesting things about President Obama’s pledge to cut $100 million dollars from the federal budget.
But there’s a problem with this [...]
In the news this week, we learned that the Congressional Budget Office had come up with new estimates for this year’s federal deficit.
Here’s the upshot of the report:
Largely as a result of the enactment of recent legislation and the continuing turmoil in financial markets, CBO’s baseline projections of the deficit have risen by more [...]
This past week, President Obama introduced his budget for fiscal year 2010. He proposes federal spending of just over $3.5 trillion. Unfortunately, the dollars he expects the government to bring in add up to just under $2.4 trillion, leaving a deficit of just under $1.2 trillion.
Let’s break those numbers down.
Under the new [...]
The Congressional Budget Office has produced a cost estimate for the conference agreement on H.R. 1, the American Recovery and Reinvestment Act of 2009 – the version of the bill being debated in both the House and the Senate today.
Our number crunching comes up with the following results: The bill costs the average U.S. family [...]
The Congressional Budget Office came out with a new Budget and Economic Outlook the other day. It doesn’t look good, people.
[T]he deficit for 2008 will be substantially higher than it was in 2007, rising from $161 billion last year to $407 billion this year. Furthermore, CBO’s projections indicate that if current laws and policies [...]
I was struck this morning by a news report on the record budget deficit: $482 billion. That’s about $4,800 per U.S. family or $1,500 per person. The report cited an administration official as saying that the deficit was being driven to an all-time high “by the sagging economy and the stimulus payments being [...]