Tag Archives: deficit

Legislature Set To Give New State Workers Option For Defined Contribution Plans

Public pensions, nationally, are a mess and while North Dakota has escaped most of the nation’s economic problems over the last several years, pension headaches aren’t something we’ve been able to afford. Late last year the North Dakota Auditor’s office published some ugly pension numbers for the state’s Public Employees Retirement System. According to the audit, NDPERS

Congress Quietly Repeals Their Ban On Insider Trading

The Stop Trading on Congressional Knowledge Act, or STOCK Act, was a law passed last year designed to prevent insider trading among lawmakers and government officials by requiring them to post disclosures of their financial transactions online. I use the past tense, because the current Congress has very quietly killed it: Both parties and both

Federal Government Breaks Record In Tax Receipts

President Obama and his fellow Democrats say we need to raise taxes to fix the federal government’s debt and deficit problems, but the federal government just hit a new record for revenues shattering the previous high set in 2007: The federal Treasury expects to collect a record $2.712 trillion in taxes on Americans and U.S.

Balanced: Democrat Budget Increases Spending By 62%, Taxes By $1.5 Trillion

The ideological break down in the national budget debate has folks on the right arguing for deficit reduction through spending cuts and folks on the left arguing for deficit reduction through tax increases. Yesterday Democrats unveiled a budget – their first in four years, a laughing matter apparently – which true to form proposes $1.5

Obama's Sequester Fear Mongering Hasn't Convinced The Public

There’s little doubt that the Obama administration is working hard to make what are, frankly, rather modest spending reductions seem really severe and onerous. But is he convincing the public? Not really, according to a poll from McClatchy: The budget cuts in Washington have not hit home in America, at least not yet. A plurality

GAO: Obamacare Will Add $6.2 Trillion To Deficits

“First, I will not sign a plan that adds one dime to our deficits — either now or in the future,” said President Obama about health care reform on September 9th of 2009. “I will not sign it if it adds one dime to the deficit, now or in the future, period. And to prove

If You Raise Taxes On Rich People And Businesses, You Get Fewer Rich People And Businesses

After Phil Mickelson created controversy with his comments about too-high taxes, professional boxer Manny Pacquiao is refusing to fight in the United States because of our national tax rate. This is what happens when tax rates are prohibitively high. People take their business, and their wealth, to friendly tax climates: Manny Pacquiao’s chief adviser insisted

Cutting The Deficit Doesn't Mean Adding $6 Trillion Instead Of $8 Trillion

Senator Rand Paul takes issue with President Obama’s assertion that he’s reduced the budget deficit by $2 trillion. “He said in his speech that he’s reduced the deficit by two trillion,” Senator Paul said on Fox News Sunday today. “Well he added $6 trillion. That means that because he didn’t add $8 trillion that he’s

Pelosi: "It's Almost A False Argument To Say We Have A Spending Problem"

“It is almost a false argument to say we have a spending problem,” Rep. Nancy Pelosi told Fox News’s Chris Wallace today. “We have a budget deficit problem that we have to address.” She also said that “tax subsidies” should be targeted for cuts rather than spending programs. And by “tax subsidies” what Pelosi means