CBO

    Obama: The Gold Medalist in Debt Race

    By: Daniel Horowitz (Diary)  |  August 7th at 06:55 PM  | 

    Well, Obama is approaching another milestone.  In addition to breaching the $16 trillion debt mark, Obama will earn another gold medal in the Greek Olympics for fiscal insanity.  According to CBO, we will definitely incur another $1 trillion debt this year, ensuring that Obama will become not only the only president to rack up a trillion dollar debt, but the only one to ever do | Read More »

    What Spending Cuts?

    By: Daniel Horowitz (Diary)  |  July 13th at 08:53 AM  | 

    We constantly hear about the age of austerity and painful spending cuts that are being enacted in Washington.  The only problem is that they don’t exist. Earlier this week, the CBO published a report on the budget deficit for the first 9 months of Fiscal Year 2012 (October 2011-June 2012).  The headline figure of the report shows that the 9-month deficit stands at $905 billion, | Read More »

    CBO’s Budget Report: Perennial Debt for Generations

    By: Daniel Horowitz (Diary)  |  January 31st at 12:23 PM  | 

    “The rosy predictions for revenues and reduced healthcare spending can come to fruition, but not with the current socialist policies as the baseline.” The budget season has officially commenced today with CBO’s release of its annual budget and economic outlook.  Here are some of the major takeaways from the report: FY 2012 Budget The topline figure that the media will focus on is the projected | Read More »

    Federal Workers Earning More Than Those Paying Their Salaries

    By: Daniel Horowitz (Diary)  |  January 31st at 06:47 AM  | 

    Remember Obama’s two-year salary freeze he imposed on federal workers?  Well, as part of his FY 2013 budget, Obama plans to end the pay freeze and offer salary increases to federal workers.  It is in this context that CBO published a report showing that federal workers still earn more than their counterparts in the private sector. While it is clear that many federal workers (but not | Read More »

    Annual Deficit Will Absolutely Top $1 Trillion in 2012

    By: Daniel Horowitz (Diary)  |  December 13th at 12:15 PM  | 

    “It’s going to take a lot more than a few accounting gimmicks and unrealistic assumptions to cure our budget ailment” Yesterday, the media was agog with glee over reports that CBO is projecting an annual deficit “below $1 trillion for the first time in four years.” How did they arrive at that conclusion? This projection was extrapolated from the Treasury Department’s report of the first | Read More »

    CBO Director Admits Stimulus Will Shrink Economy

    By: Daniel Horowitz (Diary)  |  November 15th at 08:24 PM  | 

    We could have done a lot of good things with the $830 billion that was flushed down the toilet through the 2009 stimulus.  That money could have been used to permanently transform our entitlement programs to free-market personal ownership accounts.  It could have been used for massive pro-growth tax cuts.  Instead, it was used to grow perennial dependency and for special interest handouts.  But all | Read More »

    The CBO Has Been Occupied by OWS’s Intellectual Inequality

    By: Daniel Horowitz (Diary)  |  October 28th at 10:43 AM  | 

    One fundamental liberal desideratum is the achievement of equal results at the expense of equal opportunity.  Conservatives believe in implementing policies that protect our God-given rights, which provide every human being with an equal opportunity to succeed.  Liberals reject policies that foster unfettered equal opportunity because they invariably produce unequal results, being that human beings have different talents, capabilities, work ethic, and luck.  On Tuesday, | Read More »

    CBO’s Latest Budget and Economic Outlook is Unrealistic

    By: Daniel Horowitz (Diary)  |  August 24th at 12:31 PM  | 

    The latest CBO budget and economic outlook is using baseline assumptions that are as realistic as flying unicorns.  Although they project a decade of mediocre growth and moderate deficits, even such a dismal projection is a pretentious view of reality. On the budget side, CBO’s baseline outlook portends a $1.284 trillion deficit this year, and $3.487 worth of deficits over the ten-year budget frame, from | Read More »