ICYMI
ICYMI: Bipartisan Voices for a Fiscal Commission
This week, the House Budget Committee held a hearing evaluating several legislative proposals to create a fiscal commission to address our nation’s unprecedented economic challenges. The hearing brought together sponsors of both House and Senate bills, platforming bipartisan, bicameral perspectives. Word on the Street: Chairman Jodey Arrington (R-TX) delivered opening remarks stating that the debt is the greatest challenge facing our nation. The Chairman called for bipartisan support for … Continue Reading
November 28, 2023
“Health on the Hill” Podcast Highlights Budget’s Health Care Task Force Letter to CBO on Drug Development Analysis
“Health on the Hill” Podcast Highlights Budget’s Health Care Task Force Letter to CBO on Drug Development Analysis This Sunday, November 26th the “Health on the Hill” Podcast highlighted a recent letter led by House Budget Committee Chairman Jodey C. Arrington (R-TX) and Health Care Task Force Chair Rep. Michael C. Burgess, M.D. (R-TX) to the Congressional Budget Office (CBO) that requests more information on how the nonpartisan office analyzes the effects of legislation that impacts drug … Continue Reading
November 21, 2023
ICYMI: President of Paragon Institute Reviews CBO Annual Report of Federal Health Insurance Subsides, Highlights Need for Change of Direction in Health Policy
In September 2023, the Congressional Budget Office (CBO) released its annual report entitled, Federal Subsidies for Health Insurance: 2023 to 2033, detailing how the federal government subsidizes health care coverage—and the coinciding, projected cost estimates— for the U.S. populous younger than 65 years old. Following CBO’s publication, Brian Blase, President of Paragon Health Institute, penned an analysis of the report with Health Affairs that sounds the alarm about CBO’s … Continue Reading
November 20, 2023
ICYMI: Chairman Arrington, Budget Process Reform Task Force Chair Yakym: "We Must Change Washington’s Broken Budget Process"
Following the launch of our Committee’s Budget Process Reform Task Force, Task Force Chair Rudy Yakym (R-IN) and House Budget Committee Chairman Arrington published an op-ed in the Washington Examiner outlining why we need meaningful change in the budget process and their ideas for how to bring responsibility, transparency, and accountability into the equation.Word on the Street Via Washington Examiner: “America’s long-term future—the strength of our economy, the health of our democracy, … Continue Reading
November 16, 2023
ICYMI: Chickens Coming Home To Roost: Interest on the Debt Poses Unprecedented Global Threat
The U.S. federal government’s massive spending binge is unsustainable, and American families will be left to pay the tab. Americans are now saddled with a $33.7 trillion-dollar debt in the face of rising interest costs and unabated government spending. The Wall Street Journal sounded the alarm on how countries are struggling to keep up with steep debt servicing costs and why U.S. debt sets our fiscal challenges apart from the rest of the world. Word on the Street Via Wall Street … Continue Reading
November 15, 2023
ICYMI: The Costly Border Crisis
The House Committee on Homeland Security led by Chairman Mark. E. Green unveiled an interim report on the “fourth phase” of the Committee’s comprehensive oversight investigation examining the crisis at the Southern border. Further analyzing the policies of Homeland Secretary Alejandro Mayorkas, the report is aimed at the direction of unpacking our exacerbated border crisis.Word on the Street Via House Committee on Homeland Security: “’It is unconscionable for Secretary Mayorkas and … Continue Reading
November 14, 2023
ICYMI: Chairman Arrington Joins Mornings With Maria to Discuss Speaker Johnson’s Two-Step CR Plan
Today, House Budget Committee Chairman Jodey Arrington (R-TX) joined “Mornings with Maria” on Fox Business to Discuss Speaker Johnson’s two-step continuing resolution to keep the government funded and avoid a government shutdown. Chairman Arrington on the Laddered CR:“First, we need the new speaker who's been on the job all of two weeks to have the runway to finalize our funding package, to take the fight to the Democrats and start that negotiation. And then most importantly, make our case to … Continue Reading
November 08, 2023
Numbers Don’t Lie: Americans Aren’t Buying Bidenomics
Bidenomics is not working, and Americans know it because they feel the pinch in their pocketbooks every day. Instead of doing what the American people have had to do—tighten their belts and change their spending habits—President Biden is trying to change Americans’ sour opinion of Bidenomics so he can keep his foot on the gas pedal and spend us into an even deeper hole. Try as they might, the White House is failing to consider one important factor in their economic messaging: the truth. … Continue Reading
November 07, 2023
ICYMI: New Study Reveals Medicare Site-Neutral Policies Lower Costs for Cancer Patients and Reduce Federal Spending
The American Cancer Society Cancer Action Network (ACS-CAN) released a study showing that equalizing payments for Medicare services regardless of the site of care through site-neutral payments would lower out-of-pocket costs for seniors with cancer and decrease Medicare spending. The House Republican Fiscal Year (FY) 2024 “Reverse the Curse” Budget Resolution included a policy option that would equalize Medicare payments regardless of the site of care, reducing out-of-pocket costs for seniors … Continue Reading
November 07, 2023
ICYMI: The Need for a Bipartisan Debt Commission
The Washington Examiner highlighted support from Budget Committee Chairman Jodey Arrington (R-TX) of Speaker Mike Johnson’s call for a fiscal debt commission. In his opening speech after being elected Speaker, Johnson called on the creation of a commission to address “our greatest threat to national security.” Word on the Street: Via the Washington Examiner: “Rep. Jodey Arrington (R-TX) is chairman of the House Budget Committee, which would likely be closely involved in the formation of … Continue Reading
November 06, 2023
ICYMI: House Budget Chairman Arrington Presses Biden Administration Over Wasteful Border Spending
Last week, Chairman Jodey Arrington (R-TX) sent a follow-up letter to the Department of Homeland Security Secretary (DHS) Alejandro Mayorkas demanding answers about how congressionally appropriated funds for the border wall are being used. The letter, first reported by the Daily Caller, calls for transparency on President Biden’s border policies. Word on the Street via the Daily Caller: "The Daily Caller first obtained a copy of the letter, which calls for specific answers to several … Continue Reading
November 01, 2023
ICYMI: House Republicans Demand Transparency on Ukraine Funds
House Budget Committee Chairman Jodey Arrington (R-TX) and Congressman Jack Bergman (R-MI) directed a letter, first reported by Fox Digital, to Office of Management and Budget (OMB) Director Shalanda Young demanding transparency of all funds sent to Ukraine for its war against Russia. Word on the Street via Fox News: "’It has now been over 20 months since Russia invaded Ukraine. Congress has provided $114 billion in supplemental appropriations - not including potentially billions in … Continue Reading
October 27, 2023
ICYMI: House Budget Committee Health Care Task Force Makes Waves with Roundtable Discussion
The House Budget Committee Health Care Task Force (HCTF) held an important roundtable discussion this week where Task Force Members, led by HCTF Chairman Michael Burgess M.D. (R-TX), evaluated how the Congressional Budget Office (CBO) analyzes the impact of federal price controls on medical innovation. Many experts at the session raised serious concerns about CBO’s conclusions and warned that price controls contained in the Inflation Reduction Act would drastically slow the development of and … Continue Reading
October 27, 2023
ICYMI: The Cost-of-Living Crisis is Here to Stay - Home Foreclosures Increased 34% Nationwide
The far-reaching detriment of Bidenomics continues to plague American homeowners as many “continue to grapple with the ongoing cost-of-living crisis,” says FoxBusiness.com in a report highlighting the terrifying uptick in home foreclosures. Word on the Street: Via Fox Business News: “Foreclosures are up 34% from the same time one year ago.” “The report also indicated that there were 37,679 properties with foreclosure filings in September—up 11% from the previous month and up 18% from … Continue Reading
October 25, 2023
ICYMI: Mortgage Applications Crash to Three Decade Low
Under President Biden, home ownership is becoming less and less accessible for middle class Americans as interest rates continue to soar. A recent report from the Mortgage Bankers Association shows mortgage applications fell 6.9 percent last week to the lowest level since 1995. According to Reuters analysis of the report, “The volume of U.S. mortgage applications plummeted to the lowest in nearly three decades last week as the interest rate on the most popular type of home loan rose for a … Continue Reading
October 24, 2023
ICYMI: Interest on the Debt is a Ticking Time Bomb
Interest rates are growing rapidly, and American families are paying the price. Interest payments on the debt are adding up and absorbing recourses that could be spent on programs Americans rely on, including border security, national security, and healthcare. Raised rates are also adding to the already out-of-control debt that’s driving up inflation for the goods and services Americans rely on. A recent Washington Post article lays out how the debt is a ticking time bomb and sounds the alarm … Continue Reading
October 23, 2023
NOT-SO-HAPPY ANNIVERSARY: Forty-two years ago today, the national debt crosses the $1 trillion mark
On October 23, 1981, America’s national debt crossed the $1 trillion mark. It was an unprecedented, staggering, and earth-shattering figure. President Reagan was merely nine months into his presidency, presiding over an economy in turmoil after years of the reckless “reluctant Keynesian” economic policies of the preceding Carter Administration. Unhinged government spending and out-of-control money printing caused inflation to skyrocket and the U.S. dollar to crash, putting the prosperity of … Continue Reading
October 23, 2023
Bidenomics Doesn’t Discriminate: Americans From All Walks of Life Suffering in Biden’s America
Poll after poll has shown just how unpopular Bidenomics is with the American people as they continue to suffer a cost-of-living crisis due to the failed economic policies of the Biden Administration. A recent Wall Street Journal editorial lays out how these failed policies are disproportionately hurting minority communities - mainly Black and Hispanic communities - and diminishing their paths to reaching the American Dream. Word on the Street: · “Voters in swing states disapprove of … Continue Reading
October 20, 2023
The Pressing Need to Empower a Fiscal Commission
In the face of a surmounting fiscal crisis in America, calls are increasing for Congress to empower a fiscal commission—but not just any commission will do the trick, argues The Debt Dispatch. Many commissions have failed in the past because they are all talk and no action, and today’s debt crisis requires immediate action to reverse the curse, before it bankrupts future generations of Americans out of the liberties that make our nation exceptional. Word on the Street (via The Debt … Continue Reading
October 17, 2023
ICYMI: The Canary in the Coal Mine - Weak Demand for Treasuries
Due to President Biden’s blowout spending and lack of seriousness about deficits and the debt, concern about our nation’s fiscal trajectory is now at the forefront. That concern is affecting treasury markets, where fewer market participants are willing to purchase treasuries, sending yields skyrocketing. Word on the Street (via Markets Insider): “A string of recent Treasury bond auctions saw a major slump in investor demand, and that could be a harbinger of a trend that sends yields … Continue Reading
