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U.S. Will Hit Debt Ceiling Earlier Than Expected Thanks To Tax "Cut"

``The Congressional Budget Office said on Wednesday that the United States is expected to bump up against its borrowing limit a month earlier than previously expected, a function of last year's $1.5 trillion tax cut, which is resulting...Show More Summary

We Have $272B in Cash. It'll Be Gone Sooner Than We Thought

That the debt ceiling needs to be raised beyond its current level of $20.5 trillion isn't news; that it needs to be done by the first half of March is. The Congressional Budget Office on Wednesday drew the line in the sand there thanks to the new tax law,...

United States Will Hit Debt Limit Sooner Than Expected Because of Tax Cuts

The Congressional Budget Office said on Wednesday that the debt limit will be hit a month earlier than it previously expected.

The GOP tax law unintentionally created the potential for a huge disaster if Congress doesn't act

The Congressional Budget Office estimated that the deadline for Congress to raise the debt ceiling is now in early March instead of early April. The deadline is pushed up because of changes to tax receipts from the GOP tax law. ThatShow More Summary

I Love the Smell of Fiscal Conservatism in the Morning

JUST IN: Congressional Budget Office has issued a report advising Congress to consider raising the debt ceiling earlier than anticipated to account for the revenue loss brought upon by the GOP tax legislation. — NBC Politics (@NBCPolitics) January 31, 2018 What could I possibly add to that? And in other news, a metaphor: A train […]

Congressional Budget Office will (eventually) investigate the millions of fraudulent anti-Net Neutrality comments sent to the FCC

4 weeks agoHumor / odd : Boing Boing

In order to ram through its Neutrality-killing bill, the FCC had to break all the rules: ignoring expert testimony, inventing an imaginary alternate internet where Neutrality didn't matter, pretending millions of obviously fake comments...Show More Summary

Congress Could Reduce the Deficit by Billions by Extending Children’s Insurance Program

Extending a program that provides health insurance to nearly 9 million children could save the government $6 billion over the next 10 years, according to a new estimate by the nonpartisan Congressional Budget Office. Funding for the Children’s Health Insurance Program is on the brink of running out. Over the past several months Congress has struggled to agree […]

The Republican tax law will likely save the government billions on a crucial child healthcare program — but Congress still can't make a deal on it

The Congressional Budget Office (CBO) estimates that an extension of the Children's Health Insurance Program (CHIP) would cost the government $800 million over 10 years. An earlier projection put the cost at $8.2 billion, but the Republican...Show More Summary

Budget office cuts cost estimate of children's insurance

WASHINGTON (AP) — Congress' official budget analysts have eased one stumbling block to lawmakers' fight over renewing a program that provides health insurance for nearly 9 million low-income children. The Congressional Budget Office says a Senate bill adding five years of financing to the program would cost $800 million. Show More Summary

MICHAEL BARONE: Republicans have reformed taxes — will they fix 1970s budget rules next? The r…

MICHAEL BARONE: Republicans have reformed taxes — will they fix 1970s budget rules next? The restrictions of the 1974 Budget Control Act and the cost estimates of the Congressional Budget Office it created were intended to provide clarity and restraints on presidents and Congresses. Ironically, we had mostly balanced budgets before 1974 and mostly budget […]

Premium Spreads for Subsidized Buyers in a no Mandate World

The individual mandate is gone. And this helps subsidized buyers. The Congressional Budget Office thinks that the lack of a mandate will raise individual market premiums by 10% because healthier people who either receive low subsidies or no subsidies will leave the market. A sicker risk pool on average leads to higher premiums. The pain […]

“Robert Reich smacks down ex-CBO head over GOP tax bill: Trickle-down economics on steroids!”

2 months agoNews : The Raw Story

CNN’s “Out Front” featured an economic debate on the Republican tax bill, between former Secretary of Labor Robert Reich and Douglas Holtz-Eakin, former director of the Congressional Budget Office. “You heard the White House again defending the president’s claim that...

Two Problems with the CBO’s Score of the DREAM Act and One Solution

The Congressional Budget Office (CBO) recently released a fiscal impact score for the DREAM Act.  It found that the DREAM Act would increase deficits by about $25.9 billion over the next decade.  There are at least two problems withShow More Summary

Conference Report On GOP Tax Bill

Conference Committee, H.R. 1 (Statutory Language, Joint Explanatory Statement, Revenue Estimate) Conference Committee, Joint Explanatory Statement on H.R. 1 Congressional Budget Office, Cost Estimate for the Conference Agreement on H.R. 1 Press coverage: New York Magazine, Here’s What’s In the Final Draft of the GOP Tax Bill New York Times,...

Was There an Agency Under Obama That WASN’T Politically Weaponized?

Today's example: The Congressional Budget Office The post Was There an Agency Under Obama That WASN’T Politically Weaponized? appeared first on RedState.

Report: Trump's Military Buildup Will Cost Additional $295 Billion over Next 4 Years

Frederico Bartels Security, We need to start rebuilding our military in 2018. Delaying will only make the price tag higher. The Congressional Budget Office estimates that it will cost an additional $295 billion over the next four years...Show More Summary

Premium Support: Coming Soon to a Medicare Plan Near You?

BY ROGER COLLIER Unnoticed by most of the media, the Congressional Budget Office recently released a report that could profoundly change American seniors’ healthcare coverage. The report updates a 2013 CBO analysis of the potential impact of switching Medicare to a premium support system. Under such a system private plans would compete with the traditional

Republicans are using some very shaky math to justify drilling in the Arctic refuge

The Congressional Budget Office said drilling would raise $1.1 billion for the government over the next decade, but it's going to be less than a fifth of that.

Senators want to prioritize preventive care cost savings

U.S. Sen. Angus King is among a group of lawmakers who wants the Congressional Budget Office to prioritize the role of prevention in health care. King, a Maine independent, is … Click to Continue »

McKinsey Global Institute Agrees With Trump Administration on Growth

One of the issues that has been raised in the debate over tax cuts is how fast the economy can grow. The Congressional Budget Office (CBO) is projecting growth averaging just 1.9 percent annually over the next decade. This is based on...Show More Summary

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