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  • The Perils of Rising Government Debt
    Posted in HBC Publications on May 27, 2010 | Preview rr
    Tags: Economy / Financial

    Just 2 years ago, the Congressional Budget Office [CBO] was projecting a U.S. Federal budget deficit of less than $250 billion in 2010, or 1.5 percent of gross domestic product [GDP], with a debt level just under the long-term historical average. Today, a budget deficit measured in billions seems almost quaint. CBO’s most recent tally of the likely deficit this year stands at $1.5 trillion, just more than 10 percent of GDP, with publicly held debt exceeding 60 percent of GDP and poised to contin... Read more

  • H.R. 4213, The ‘Extenders’ Bill: An Update
    Posted in HBC Publications on May 27, 2010 | Preview rr
    Tags: Taxes, Economy / Financial

    After a widespread backlash over its extravagant price tag, Democrats have created an illusion that their tax “extenders” bill costs less than earlier this week. In reality, however, they have made some provisions more generous, but simply shortened the “official” duration of the spending, while further increasing taxes. In the end, their sleight-of-hand fails to mask the truth: the measure remains a bloated replay of the “stimulus” doctrine that has failed to deliver on its promised job creatio... Read more

  • Cut Spending Now
    Posted in HBC Publications on May 25, 2010 | Preview rr
    Tags: Economy / Financial

    Having shoveled out trillions of dollars in new spending and debt, House Democratic leaders now admit they cannot budget for all of it – and won’t even try. For the first time, the House will fail even to propose a budget. Instead the Democratic Majority will resort to an ad hoc, spend-as-you-go process that abandons any pretense of governing. Here are some key points about this budget collapse: FAILURE TO BUDGET, FAILURE TO GOVERN - Threatens Job Creation. The Democrats’ budget failure further ... Read more

  • Social Security’s Own Actuaries Confirm Ryan’s Roadmap Saves Social Security
    Posted in HBC Publications on April 27, 2010 | Preview rr
    Tags: Entitlements: Health Care / Social Security

    The non-partisan Office of the Chief Actuary for the Social Security Administration [SSA] released their official score of the Social Security provisions of A Roadmap for America’s Future. Earlier this year, House Budget Committee Ranking Republican Paul Ryan (WI) introduced an updated version of his Roadmap proposal – aimed to fulfill the mission of health and retirement security, pay off our crushing burden of debt, and spur economic growth. The Actuaries report confirms earlier findings from ... Read more

  • Tax Day – And No Congressional Budget
    Posted in HBC Publications on April 15, 2010 | Preview rr
    Tags: Taxes, Economy / Financial

    When Republicans faltered on budgeting in the past, Democratic criticism was severe, including a press release headline by then-Minority Leader Pelosi that read: “Republicans’ Inability to Pass a Budget Hurts America’s Children.” Today the echo of their words is deafening. While Americans scramble to file their Federal tax returns, the Democratic Congress is sliding past its deadline for the most fundamental obligation of governing: adopting a Federal budget by April 15. Nevertheless, the Presid... Read more

  • The Costly Consequences of Health Care 'Reform'
    Posted in HBC Publications on April 7, 2010 | Preview rr
    Tags: Entitlements: Health Care / Social Security

    The Democratic health care legislation enacted last week will enlarge government, increase Federal spending, deficits, and debt, and create a dependence on the Federal Government at odds with America's historic commitment to individual liberty and personal responsibility. It was muscled through Congress on a purely partisan vote, and through an unprecedented abuse of a specialized budget process intended to control the size of government, not expand it. The principal consequences of the legisla... Read more

  • Minority Views:Health Care Reconciliation
    Posted in HBC Publications on March 18, 2010 | Preview rr
    Tags: Entitlements: Health Care / Social Security

    Through this grossly distorted process, the Democratic Majority will attempt to force onto the American public a sweeping government takeover of health care without a shred of bipartisan support, and in spite of opposition by a majority of the people Congress has been elected to serve. They will do so by twisting budgetary and legislative procedures to win a political victory at any cost, by any means - because they cannot do it any other way. The arrogance, the paternalism, the condescension of... Read more

  • The Relentless Growth of Government
    Posted in HBC Publications on February 2, 2010 | Preview rr

    Much like last year, the President’s fiscal year 2011 budget presents a staggering contradiction to his recent rhetorical gestures toward “fiscal restraint.” It continues pursuing a “progressive” ideology that calls for ever-more centralized government control of the economy. It spends too much, taxes too much, and borrows too much – and the result is a growing debt that drains the resources needed for growth and job creation, undermining any pretense of economic “stimulus.” Moreover, the budget... Read more

  • The President's Budget for Fiscal Year 2011
    Posted in HBC Publications on February 2, 2010 | Preview rr

    Despite recent rhetoric of fiscal responsibility, the President’s budget more than doubles the debt, drives spending to a new record of $3.8 trillion in FY 2011, pushes the deficit to a new record of $1.6 trillion in FY 2010, and raises taxes by over $2 trillion through 2020 by the Administration’s own estimates. Read full analysis here. Read more