The Myth of the Recovery
The gains on Wall Street have been goosed largely by government spending and guarantees, not the usual private sector–funded growth. And federal spending cannot continue indefinitely without deficits and debt service spiraling out of control. John Silvia, chief economist for Wells Fargo, says, “We have seen a recovery, but [...]
January 20, 2010 – 10:02 pm
“Let me be clear. If you like the health plan you have, you can keep it.” President Obama has made this claim multiple times about healthcare reform. But it’s simply not true. Let me offer one small example.
My wife and I enjoy our Flex Spending Account. We put in enough money each year to cover [...]
January 20, 2010 – 7:37 am
President George W. Bush was the biggest spending U.S. President since President Lyndon Baines Johnson. He “he presided over an 83-percent increase in overall federal spending, which includes defense, domestic, entitlements, and interest. Even without TARP and Fannie/Freddie, spending was up a huge 70 percent under Bush over eight years. By contrast, total spending under [...]
August 27, 2009 – 4:02 pm
Jon R. Gabel writes in the New York Times today, saying that we shouldn’t fear the cost of health care reform because the CBO has a long history of underestimating the savings from reforms.
In the early 1980s, Congress changed the way Medicare paid hospitals so that payments would no longer be based on [...]
August 26, 2009 – 4:16 pm
Just in case you’re case curious, the current projected 10-year U.S. budget deficit is now $9.1 trillion. That’s on top of the $11.7 trillion of debt that the U.S. currently owes. The Wall Street Journal has further information on the rather grim news.
CBO predicts that debt held by the public as a share [...]
Red State updates an old MoveOn.org ad, questioning who will pay for the President’s massive amount of deficit spending. Remember when the Democrats were against deficit spending? Boy do I miss those days.
Now, Social Security is projected to go into deficit as early as fiscal 2010. And the President’s budget has increased the national debt [...]
I’ve read some good news on taxes today. At least, I think it’s good news.
First, Senator Evan Bayh (D) wrote a Wall Street Journal op-ed critizing the omnibus spending bill that’s currently working it’s way through the Senate.
The Senate should reject this bill. If we do not, President Barack Obama should veto it.
[...]
February 27, 2009 – 10:38 pm
Congresswoman Tammy Baldwin had this to say about President Obama’s budget.
I’m pleased that President Obama rejected the “creative accounting” of the Bush Administration, whose budgets never included the actual costs of the wars in Iraq and Afghanistan, and never fully funded the domestic programs that we desperately need – in education, health care, [...]
February 26, 2009 – 4:55 pm
Obama Delivers $3.6 Trillion Budget Blueprint – WSJ.com
The president blamed the nation’s economic travails on the administration that preceded him and on a nation that lost its bearings. His budget plan projects a federal deficit of $1.75 trillion for 2009, or 12.3% of the gross domestic product, a level not seen since 1942 [...]
February 25, 2009 – 5:02 pm
Spreading Freedom and Saving Money: The Fiscal Impact of the D.C. Voucher Program
In August 2004 the first ever federally funded school voucher program began in Washington, D.C. Eligible students could attend a private school of their choice in the District of Columbia. Each participant received up to $7,500 for school tuition, fees, and [...]