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  • Updated Budget Estimates Growing Deficits and Debt
    August 25, 2009 - The Office of Management and Budget [OMB] and the Congressional Budget Office [CBO] today released their updated budget and economic forecasts. The bottom line is as follows: Ten-Year Deficits. OMB shows a deficit $1.9 trillion higher over the next 10 years; CBO’s deficit is $1.6 trillion higher. Th... More
  • Points to Consider
    August 20, 2009 - The administration’s Mid-Session Review, scheduled for release next Tuesday (25 August 2009), will provide an update of budget and economic projections. Key issues to consider when evaluating the report include the following: The 2009 Deficit. Because spending has been higher, and tax revenue lower,... More
  • $3.4 Trillion and Counting
    July 31, 2009 - SUMMARY Although health care legislation has been delayed, Congress is still likely to consider, before the end of the year, a bill to create a new $1-trillion health care entitlement and begin the Federal Government’s takeover of the health care sector. But this would only add to the President’s we... More
  • New Programs, More Spending in Student Aid 'Deficit Reduction' Bill
    July 30, 2009 - SUMMARY On the same day the Federal Reserve Chairman was warning Congress about Federal spending and deficits, the Education and Labor Committee reported legislation that: Nationalizes all Federal student loans. Creates ten new entitlement programs. Expands Washington’s role in education. Distorts t... More
  • Defense Appropriations
    July 28, 2009 - The Defense appropriations bill – the twelfth and final House appropriations measure to be brought to the floor – provides $636.3 billion in discretionary budget authority [BA] primarily to the Department of Defense [DoD], including $128.3 billion to support “overseas contingency operations” in Iraq... More
  • Hearing: The Recovery Act: Strengthening Our Economy
    July 24, 2009 - Thank Chairman Spratt, welcome witnesses (Transportation Secretary LaHood; Interior Secretary Salazar; and Agriculture Secretary Vilsack). I appreciate the opportunity for this Committee to, once again, meet on the subject of the “stimulus” bill. Committee hearings are a key component of Congress’ f... More
  • Hiding the Cost of the 'Doc Fix'
    July 24, 2009 - Faced with a Congressional Budget Office [CBO] cost estimate showing a $239-billion deficit increase in their health care bill, the Democratic Majority appears to be trying to make their problem disappear. The discussion below explains the maneuvers the Majority is likely to attempt to get that resu... More
  • Labor-HHS-Education Appropriations
    July 24, 2009 - The fiscal year 2010 appropriations bill for the Departments of Labor, Health and Human Services, and Education, and Related Agencies provides $715 billion in total budget authority [BA] and $775 billion in outlays. This includes $163 billion in new discretionary BA and $219 billion in budget year o... More
  • Transportation and HUD Appropriations (H.R. 3288)
    July 23, 2009 - A day after rejecting the use of caps to control discretionary spending, the House Majority is bringing to the floor a 25-percent increase for the fiscal year 2010 Transportation, Housing and Urban Development [THUD] appropriations bill (H.R. 3288). The bill provides $68.9 billion in discretionary b... More
  • Republican Pay-Go Substitute
    July 22, 2009 - The Republican substitute to the Democrats’ pay-as-you-go [pay-go] bill focuses on the fundamental problem with the budget: spending and deficits. It ensures that Federal spending cannot grow faster than the economy; it establishes a cap on discretionary spending, rather than exempting it as the Dem... More