Trend Results : Congressional Budget Office

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Unveiling the Congressional Budget Office's latest long-term forecast this week, new CBO Director Keith Hall made an unremarkable statement. "The evidence," Hall explained, "is that tax cuts do not pay for themselves." For the overwhelming majority of economists, or just about anyone familiar with the U.S. Show More Summary

CBO Sees A Big Increase In Individual Income Tax Revenues Over The Next Decade

In its semi-annual fiscal update, released this week, the Congressional Budget Office projects that federal revenues will remain flat over the next decade, while spending—mostly for health care and Social Security—will rise. The result: Budget deficits, which have been declining in recent years as the economy has grown, will once [...]

Economic reality, GOP ideology like two ships passing in the night

After winning control of the Senate last year, congressional Republicans moved to put a conservative stamp on the Congressional Budget Office, whose reports had become a source of significant aggravation.  Time after time, the agenc...

U.S. tax cuts don’t pay for themselves: Republican-appointed official says

last weekNews : The Raw Story

The new Republican-appointed director of the Congressional Budget Office delivered some bad news on Tuesday to the party’s “Reaganomics” devotees: Tax cuts don’t pay for themselves through turbocharged economic growth. Keith Hall, who served as an economic adviser to former...

Four Tax Takeaways from the Most Recent CBO Report

Today, the Congressional Budget Office released its semiannual Budget and Economic Outlook report, which forecasts the federal budget deficit over the next ten years, as well as several other economic indicators. An important part of...Show More Summary

Debtageddon: US to Hit Debt Limit by Mid-November

The United States is set to exceed its $18.1 trillion debt limit by mid-November or early December, the Congressional Budget Office (CBO) said in a report on Tuesday.

CBO sees lower U.S. deficit in 2015 as revenues climb

By David Lawder WASHINGTON (Reuters) - The U.S. budget deficit is likely to fall by $60 billion in 2015 due to strong revenue gains, the Congressional Budget Office said on Tuesday, adding that the government may be able to pay its bills without a debt limit hike through early December. Show More Summary

CBO to Bernie Sanders: Ending sequester could create 1.4 million jobs

Sen. Bernie Sanders (I-VT) just gave Democratic Leader Harry Reid an extremely useful gift: he asked the Congressional Budget Office to estimate the effects of ending the sequester—the automatic budget caps imposed by the 2011 Budget Control Act. Show More Summary

More Keynesian Primitivism from the Congressional Budget Office

I never watched That ’70s Show, but according to Wikipedia, the comedy program “addressed social issues of the 1970s.” Assuming that’s true, they need a sequel that addresses economic issues of the 1970s. And the star of the programShow More Summary

Happy Hour Roundup

More news from Barack Obama’s horrific fiscal stewardship: The budget deficit for 2015 is expected to drop to roughly $425 billion, according to a report released Friday by the nonpartisan Congressional Budget Office (CBO). That’s down from the $486 billion the CBO projected in March. If it drops to $425 billion by the end […]

America's budget deficit this year will be the lowest since 2007

Goldman Sachs thinks that the federal budget deficit this fiscal year will be the lowest it's been since the start of the financial crisis. The Congressional Budget Office's most recent estimate from March puts the deficit for the year...Show More Summary

Obamacare and Work

Jonathan Chait, writing about the same Bush remarks I discussed earlier, revisits the debate about Obamacare and jobs. Conservatives loudly trumpeted the  Congressional Budget Office’s prediction  that Obamacare would lead to fewer hours worked. Show More Summary

Estimates and the Economy: Let the Buyer Beware

The CBO, the ACA, and the economy: Precision doesn’t mean accuracy. Last Friday, the Congressional Budget Office projected that repeal of the Affordable Care Act would add $137 billion to the national debt over 10 years but boost the economy. Show More Summary

CBO Has No Idea What Repeal of the ACA Means for the Economy or the Deficit

This is what the Congressional Budget office really said about the budgetary and economic effects of repealing the Affordable Care Act: It has no idea. That, of course, it not what the political partisans are saying in the wake of CBO’s Friday release of a report on this exceedingly controversial topic. Show More Summary

CBO once again tells GOP Obamacare repeal will increase national debt

2 months agoUS Politics / Liberal : Daily Kos

For all of the disputes and controversies over the Affordable Care Act, one thing has been consistent. The nonpartisan Congressional Budget Office (CBO) has repeatedly forecast that Obamacare would reduce the national debt. Nevertheless,...Show More Summary

Obamacare reduces the deficit. Let's move on.

The Congressional Budget Office has released a report on the effects of repealing the Patient Protection and Affordable Care Act. Bottom line: full repeal would blow up the long-term federal budget deficit - and leave a lot of people without insurance.

CBO Obamacare Report Shows Deficit And Debt Are Phony Issues

This absolutely is not a criticism of the Congressional Budget Office, which last week issued a report on the costs of the Affordable Care Act that had heads (and communications directors) spinning inside the Capital Beltway. As I’ve said many times before, CBO is one of the most important, most [...]

Here’s Why Repealing Obamacare Would be a Financial Disaster

This past Friday, the Congressional Budget Office (CBO) and the Joint Committee on Taxation reviewed the main provisions of President Barack Obama’s healthcare plan, formally known as the Patient Proection and Affordable Care Act (ACA). The CBO found repealing the ACA would increase the federal deficit by at least $137 billion, while leaving 19 millions [...]Show More Summary

Repealing Obamacare will add $353 billion to the federal deficit: study

2 months agoNews : The Raw Story

Obamacare Repeal Price Tag: $353B A new Congressional Budget Office (CBO) analysis found that repealing the Affordable Care Act, also known as Obamacare or the ACA, would likely leave 19 million Americans uninsured by 2016 and add some $353 billion to the federal deficit over ten years. This...

Mixed Effects Are Seen on an Affordable Care Act Repeal

2 months agoHealth : NYTimes: Health

The nonpartisan Congressional Budget Office said repealing the Affordable Care Act would increase federal deficits and the number of uninsured Americans, but it would also raise economic output.

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