HBC And SBC Republican Summary Of President’s FY2013 Budget
The President has not merely ducked from our fiscal and economic challenges, but—with his fourth straight budget flop—he has advanced policies that dangerously accelerate the crisis before us. His gimmick-filled budget fails to reduce the fast-rising debt, permanently entrenches unsustainable levels of government spending, and erects new barriers to upward mobility.
Gimmicks The President May Use To Claim Trillions In Phony Budget Savings
We know from gimmicks in the president’s past proposals that he may claim to “save” $3 trillion with no savings at all (which are properly defined as spending cuts). The only deficit reduction would stem from tax hikes that sustain wasteful spending.
Obama’s Budget Gimmicks Produce Phony Deficit Claims
CBO’s reestimates of the president’s budget show that he has, on average, understated his 10-year deficits by almost 20 percent.
Obama’s FY2012 Budget: A Failure of Leadership
A Detailed Summary and Analysis of President Obama’s FY 2012 Budget
CBO’s Outlook Drastically Understates Nation’s Debt Path
The Congressional Budget Office baseline budget outlook dramatically understates—by nearly $6 trillion—the deficit and debt path that the nation is on. The agency’s current law outlook shows deficits declining from $1.3 trillion last year to $1.1 trillion this year, and dropping further until fiscal year 2018, when it starts rising again. Using a realistic baseline, […]
War Savings Offset Still A Gimmick
News reports appear to confirm that, as laid out in the State of the Union address, President Obama’s budget will propose using caps on war spending as a gimmick to either “offset” new spending or reduce the deficit. This offset is an accounting trick because it claims artificial savings from money that would never be […]
How Debt Destroys Jobs—And Why We Need A Budget
In one week, on January 24th (the same day as President Obama’s State of the Union address), 1,000 days will have elapsed since Senate Democrats offered a budget plan for the nation. Higher debt leads to slower economic growth. Empirical studies show that high levels of government debt inhibit economic growth by creating uncertainty, displacing […]
Crucial Budget Vote: Will The Senate Vote To Increase Or Decrease Spending Over Last Year?
Soon, the Senate will hold a series of three votes on H.R. 2055, H.R. 3672 and H. Con. Res. 94 to complete the appropriations process for Fiscal Year 2012. The first vote is on H.R. 2055, the omnibus appropriations bill; the second vote is on H. Con. Res. 94, a 1.83 percent across-the-board rescission to […]
Senate Budget Committee Republican Summary of President’s FY2012 Budget
THE PRESIDENT’S BUDGET SPENDS, TAXES, AND BORROWS TOO MUCH – STIFLING JOB GROWTH TODAY AND THREATENING OUR ECONOMIC FUTURE In challenging times, a chief executive must lead. But President Obama has failed to confront the fiscal and economic challenges before us. Instead, he continues down the same unsustainable path: growing the government, weakening the economy, […]
SBC Summary Of The House Payroll Holiday And Jobs Bill
The House bill extends the temporary two percentage point payroll holiday for an additional year and relies largely on reductions in mandatory spending to offset its cost. There are no tax hikes. Major Budgetary Provisions Extends for one year the temporary Social Security payroll holiday. Increases the incentive to expand and hire by extending 100 percent […]