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  • Analysis of the President’s Budget for FY2013
    Posted in HBC Publications on February 24, 2012 | Preview rr
    Tags: Entitlements: Health Care / Social Security , Taxes, Economy / Financial

    KEY POINTS The President’s budget spends too much – a net spending increase of $1.5 trillion above current projections. The President’s budget taxes too much – a net tax increase of $1.9 trillion above current projections. The President’s budget borrows too much: It adds over $11 trillion to the national debt. Instead of cutting the deficit in half as promised, it delivers a deficit of over $1 trillion, the fourth in a row during this administration. The President’s budget uses gimmicks to crea... Read more

  • President's Budget Charts Path to Debt and Decline
    Posted in HBC Publications on February 13, 2012 | Preview rr
    Tags: Entitlements: Health Care / Social Security , Taxes, Economy / Financial

    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. His plan stifles economic growth, threatens the health and retirement security of millions of Americans, and commits the next gener... Read more

  • CBO Confirms Federal Workers Enjoy Advantages Over Private Sector Counterparts
    Posted in HBC Publications on January 30, 2012 | Preview rr
    Tags: Economy / Financial

    Earlier today, the Congressional Budget Office (CBO) released a study confirming the differences in compensation between federal government employees and their private-sector counterparts. While millions of Americans continue to struggle with stagnant wages and high unemployment, government bureaucrats in Washington continue to enjoy significant advantages over those whose tax dollars finance their compensation. Key points from the CBO’s comparison of employee compensation between federal civili... Read more

  • The Budgetary Impact of H.R. 3835
    Posted in HBC Publications on January 30, 2012 | Preview rr
    Tags: Economy / Financial

    The House is currently considering the passage of H.R. 3835, legislation introduced by Rep. Sean Duffy (WI-07), which would freeze federal civilian employees’ and Members of Congress’ pay. A similar provision was included in previous House Republican efforts to extend the payroll tax, in which the pay freeze included a reduction in the statutory discretionary spending caps set by the Budget Control Act [BCA]. During consideration of the payroll tax debate last fall, the CBO scored the pay-freeze... Read more

  • President Obama’s Missed Budget Deadlines
    Posted in HBC Publications on January 27, 2012 | Preview rr
    Tags: Entitlements: Health Care / Social Security , Economy / Financial

    The Budget and Accounting Act of 1921 requires the President to submit his budget request for the upcoming fiscal year no later than the first Monday of February. Earlier this week, the Obama administration announced that for the third time in four years it will not adhere to this legal deadline. The Office of Management and Budget cites “the need to finalize decisions and technical details of the document.”[1] This failure to meet statutory budget obligations has become a pernicious pattern for... Read more

  • Middle Class Tax Relief and Job Creation Act of 2011
    Posted in HBC Publications on December 9, 2011 | Preview rr
    Tags: Taxes, Economy / Financial

    Budget Impact H.R. 3630 extends the payroll tax holiday, reforms and extends unemployment insurance benefits, and provides for a two-year extension of the Medicare “doc fix.” The bill is fully offset over a ten-year period based on Congressional Budget Office estimates. The table below shows the budgetary impact of the legislation. Read the CBO estimate of H.R. 3630 here. Read more

  • A Deeper Look at Income Inequality
    Posted in HBC Publications on November 17, 2011 | Preview rr
    Tags: Entitlements: Health Care / Social Security , Taxes, Economy / Financial

    KEY POINTS: The question for policymakers is not how best to redistribute a shrinking economic pie. The focus ought to be on increasing living standards, expanding the pie of economic opportunity, and promoting upward mobility for all. Conventional wisdom on government’s role in inequality often has it backwards: tax reforms have resulted in a more progressive federal income tax; government transfer payments have become less progressive (due in large part to growing entitlement payments to wealt... Read more

  • FACT SHEET: The Optimist’s Guide to Repeal and Replace
    Posted in HBC Publications on September 27, 2011 | Preview rr
    Tags: Entitlements: Health Care / Social Security , Taxes, Economy / Financial

    The Problem: According to the CBO, spending on Medicare and Medicaid is pulling America towards a debt-fueled economic collapse and, unless reformed, the programs will implode, thus depriving the neediest in our society of a crucial safety net. Moreover, the President’s healthcare law has made things worse by increasing the cost of care and adding to the national debt. From the speech: “At its core, the health care problem is one of inflation, driven by the overutilization of services, dramatic... Read more

  • The Empty Promise of Green Jobs
    Posted in HBC Publications on September 22, 2011 | Preview rr
    Tags: Energy

    In the fall of 2008, then-candidate Barack Obama made a campaign promise to jumpstart the economy with an influx of green jobs. “We’ll invest $150 billion over the next decade and harness private efforts to build a clean-energy economy,” he said. This expenditure of taxpayer dollars, averaging $15 billion a year, would then “create 5 million new jobs that pay well, and can never be outsourced.”[1] The President has kept his promise to spend billions of borrowed dollars on green energy, but his p... Read more

  • Credibility Deficit Widens with President’s Third “Budget” in Seven Months
    Posted in HBC Publications on September 21, 2011 | Preview rr
    Tags: Entitlements: Health Care / Social Security , Taxes, Economy / Financial

    In the span of seven months, President Obama has offered three different budget plans for the federal government. He offered an actual budget in February, a budget “framework” in April, and yet another tax-and-spend plan this past week (more spending in the “American Jobs Act”; more taxes in a new plan unveiled yesterday). Unfortunately, none of these approaches has provided the kind of leadership that America needs to lift the crushing burden of debt while promoting sustained economic growth. T... Read more