Section-By-Section Analysis Of The Bipartisan Budget Act Of 2013
The Bipartisan Budget Act (BBA) of 2013 would increase the discretionary spending caps established by the 2011 Budget Control Act (BCA) by $45 billion in 2014 and $18 billion in 2015.
U.S. Has Spent $3.7 Trillion On Welfare Over Past 5 Years
We have just concluded the 5th fiscal year since President Obama took office. During those five years, the federal government has spent a total $3.7 trillion on approximately 80 different means-tested poverty and welfare programs. The common feature of means-tested assistance programs is that they are graduated based on a person’s income and, in contrast […]
Long-Term Budget Outlook Shows Urgent Need For Spending Restraint
The Congressional Budget Office’s updated Long-Term Budget Outlook projects a relentless rise in federal debt held by the public after a shallow decline for the next few years.
SBC Analysis Of CBO Immigration Report: Senate Bill Increases On-Budget Deficit, Increases Unemployment, Depresses Wages
The fiscal cost estimate demonstrates conclusively that the legislation as reported from the Judiciary Committee will increase the costs of welfare benefits provided to newly legalized residents by more than the income taxes and fees that they will pay, resulting in added deficit spending over the next 10 years. The economic analysis concludes that the increase in the labor force will depress average wages and increase unemployment through at least the end of this decade.
S. 744 And The Welfare State
From a fiscal standpoint, immigration reform should be guided by a candid acknowledgement of the enormous expanse of our welfare state and the aggressive practices currently being used to boost enrollment.
CBO Confirms Obama 2014 Budget Does Not Change Dangerous Debt Course
the President’s policies would not begin to reduce deficits until FY 2018, which ends eight months after President Obama’s term in office ends.
CBO’s Revised Outlook Still Projects Unsustainable Debt Path
The Congressional Budget Office’s updated budget outlook projects that, under the baseline rules the agency is required by law to follow, spending will total $46.677 trillion over the next 10 years, revenues will total $40.336 trillion, and the debt will climb to $25.228 trillion by the end of 2023. These figures assume the continuation of the spending cuts required by the Budget Control Act of 2011 (BCA) and the tax increases that took effect on January 1.
America Spent Enough On Federal Welfare Last Year To Send $60,000 To Each Household In Poverty
“The U.S. Census Bureau estimated that almost 110 million Americans received some form of means-tested welfare in 2011. These figures exclude entitlements like Medicare and Social Security to which people contribute, and they refer exclusively to low-income direct and indirect financial support—such as food stamps, public housing, child care, energy assistance, direct cash aid, etc.”
How The Gang Of Eight Proposal Would Impact U.S. Taxpayers
On April 10th, Senators Sessions and Grassley, Ranking Members of the Budget and Judiciary Committees, along with former Agriculture Committee Ranking Member Pat Roberts, wrote an as-yet unanswered letter to the Gang of Eight concerning “the long-term costs that will be imposed on taxpayers once millions of illegal immigrants eventually become eligible not only for […]
President Obama’s Budget Achieves Virtually No Deficit Reduction
The President’s 2014 budget never reaches balance, but asks taxpayers to send more money to Washington to grow the government. Relative to current law, the President would raise taxes by $1.083 trillion to increase spending by $1.025 trillion (including the President’s 2013 proposals). The actual deficit reduction in this budget is only $59 billion, barely […]