Tag Archives: fiscal cliff

We Have to Pass the Bill So You Can Know What's In It

We Have to Pass the Bill So You Can Know What's In It

CNS is reporting that members in the Democrat controlled Senate received both the 154 page “Fiscal Cliff compromise” bill and the CBO scoring 3 minutes before they were to vote on the bill. Of course we’ve seen this tactic used ever since Obama became president, haven’t we? The U.S. Senate voted 89-8 to approve legislation

It's A Spending Problem

Courtesy of Yuval Levin at National Review, here’s another look at the “fiscal cliff” deal’s impact on the nation’s debt and deficit problem: And then there’s this comparison of spending and revenue, each as a percentage of GDP: Going back to 1973, we’ve never been able to hold federal revenues much above about 18% of

"We Can't Cut Our Way To Prosperity" When Prosperity Is Based On Government Spending

“We cannot simply cut our way to prosperity,” President Obama said last night in response to the House sending him the “fiscal cliff” legislation to sign. That statement always strikes me as curious, as though government drives the economy instead of burdens it. I’m no anarchist. We need government. There are lots of things government

Schafer Column: North Dakota's Lesson For Solving The Deficit Problem

North Dakota was just rated as the “Best Run State in America”, and there are lessons to be learned as we approach our financial problems in the federal government. President Obama pushes tax increases to solve the outrageous deficit problem facing our country and says “the majority of Americans agree with my approach.” David Axlerod

We've Taxed The Rich, Now What?

I won’t tell you that the fiscal cliff deal passed by Congress yesterday was a good thing. I think going over the cliff would have been better for the country. The spending cuts in the sequestration were more meaningful, and the tax hikes were more broad. I don’t think we’re going to see an appetite

Berg's Final Vote: "No" To The Fiscal Cliff Deal

Rep. Rick Berg just cast his final vote in the US House. He’ll be heading back to the private sector after failing in his bid to move to the Senate. By the narrowest of margins, North Dakotans picked liberal Democrat Heidi Heitkamp over him. But Berg finished strong. Even as his fellow North Dakota Republican

House Passes "Fiscal Cliff" Deal That Makes Debt And Deficit Projections Worse

The House has passed the “fiscal cliff” deal the Senate passed early this morning. The media, of course, is reporting this as “crisis averted.” Which is an absurd notion. Via Zero Hedge, here’s a chart showing the CBO’s projected annual revenues from these tax increases (assuming “the rich” sit still for them and don’t move

Rebutting Senator Hoeven's Lame Explanation For Voting For The "Fiscal Cliff" Deal

Earlier today Senator John Hoeven’s office sent out a detailed explanation justifying his yes vote for the “fiscal cliff” deal. You can read the full press release here. I thought I’d respond to some of the claims the Senator is making. First, Hoeven says he voted for it because it maintains tax relief for the

Shocker: "Fiscal Cliff" Deal Includes $330 Billion In New Spending, Adds $4 Trillion To Deficits

About those “spending cuts” that supposedly balance the $620 billion in tax hikes in the “fiscal cliff” deal passed by the Senate last night. Turns out, the bill increases both national spending and the ten-year window of budget deficits significantly. The “fiscal cliff” deal that was designed to save money actually includes $330.3 billion in

Silver Lining In "Fiscal Cliff" Deal: At Least It Didn't Raise The Debt Ceiling

There’s not a lot to like about the “fiscal cliff” deal the Senate agreed to last night. It raises taxes at a time when our economy is still reeling, and it raises spending at a time when the country is running a $1 trillion annual budget deficit and can ill afford it. It’s a bad

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