Browsing All posts tagged under »government spending«

Snookered: Budget deal only really cuts $14.7B

April 12, 2011

0

Grumbling has grown over the tiny nature of cuts reached in the recent deal to avoid a government shutdown. It’s sure to gain even more intensity after analysis shows that a lot of the cuts were accounting tricks and on programs that the President wanted to cut anyway. The upsetting bottom line – if you’re […]

Happy Tax Day

April 15, 2010

0

As happy as it can be, I suppose. There are still two more hours left in April 15th, so in theory you have a bit more time to get your return in without incurring a penalty – even more if you happen to live in Hawaii! (Just another reason, by the way, why it’s OK […]

Value-added tax inches closer via Volcker

April 7, 2010

1

Obama economic advisor Paul Volcker spoke yesterday at a New York Historical Society event and noted that America should consider raising taxes to curb deficits and improve our financial standing (heads-up from Allahpundit). But even more interesting is the suggestion by Volcker, a former Fed chair under Bush, that Congress should enact a value-added tax […]

CBO: Obama debt forecast off by $1.2 trillion

March 5, 2010

1

Hidden in the Friday news dump is this rosy little story regarding our fiscal future –¬†the Congressional Budget Office announced is projecting that Obama’s proposed budget will add $9.7 trillion to the debt over the next 10 years, which is $1.5 trillion more than the White House’s estimate of $8.5 trillion of debt put on […]

Debt ceiling raised as two spending bills advance

December 17, 2009

0

In one of its last acts before adjourning for a winter break, the House of Representatives passed legislation that raises the amount of debt the US government is legally allowed to owe by an amount of $290 billion to a record $12.4 trillion in allowable government debt. The 218-214 vote saw unanimous Republican opposition, though […]

Obama now wants to cut deficits next year

November 13, 2009

0

In a move that seems now too ridiculous to be believed, President Obama is hinting that his focus in 2010 will be on cutting the federal deficit¬†in a shift toward fiscal responsibility. The move comes after the shocking gubernatorial defeats in New Jersey and Virginia amid rising voter concern about the growing gap between what […]

Get your drink on – here’s more great economic news

August 25, 2009

0

The title of the post says it all, really. The Office of Management and Budget released figures that show, along with an increased 10-year deficit projection of $9 trillion, a doubling of the federal debt by 2019 that will be 75% of America’s GDP. What’s more, unemployment is expected to hit 10% this year and […]