• The Budget Battles to Come

    The Budget Battles to Come

    Don’t look now, but the next big legislative battles of the
    Trump presidency may be just a few weeks away. Republicans must
    pass a budget by April 28 to avoid a partial government shutdown.
    Yet, as was the case during the recent failed effort to repeal and
    replace Obamacare, Democrats are united in opposition while
    Republicans are badly split.

    The looming battle doesn’t concern the 2018 budget that
    President Trump purported to unveil a few weeks ago, which will
    spark a fight of its own down the road. Rather, it concerns budget
    business left over from last year when, unable to pass budget
    bills, a lame-duck Congress kicked the can down the road, passing a
    continuing resolution to fund the government through the end of
    this month. The time on that CR is now almost up, and Republicans
    are planning to offer an omnibus budget bill to fund the government
    for the rest of the year. To further complicate measures, this
    massive omnibus will likely be offered as an amendment to the 2017
    defense-appropriations bill.

  • No, TARP Didn’t Prevent a Second Depression

    In a recent debate on C-SPAN on the condition of the U.S. economy, my liberal sparring partner observed that the bank bailouts and stimulus plans saved us from a second Great Depression.

    We’ve all heard that line dozens of times — Barack Obama recites it in nearly every speech he delivers. This claim is what we call a counterfactual — what might have happened if we hadn’t done what we did. The left loves to argue using counterfactuals because — like “climate change” — they are impossible to refute. READ MORE...

  • New report links longer congressional tenures to increased govt. spending

    A new study reports a direct correlation between the length of congressional terms and the size and growth of government.

    Our Generation, a nonprofit, nonpartisan advocacy organization, released the report, titled Congressional Tenure and its Impact on Government Spending. It concludes that: “the longer a Member of Congress remains in office, on average the more supportive of higher government spending he or she becomes.”

    According to Our Generation:

    The report analyzes the congressional voting scorecards of a sample of five large, influential, and diverse Congressional delegations from New York, Virginia, California, Texas, and Florida. The study, which compares voting scorecards over a decade period, found that an average Member of Congress “was more supportive of government spending in 2010 than he or she was in 2000. READ MORE...

  • Why Is the Budget Deficit Falling? You Can Thank the Tea Party

    The Congressional Budget Office reported that the budget deficit is falling rapidly from its trillion-dollar-plus Rocky Mountain highs during President Obama’s first term.

    I estimate that the deficit will likely be $400 billion or lower this fiscal year, and that is a near $1 trillion improvement over four years. As a share of the economy, federal deficits have tumbled from nearly 10 percent to just under 3 percent.

    The question is, Why the progress?

    The main factor has been falling government spending, which is a positive force for the economy. And the reason government spending is falling is that the budget caps and the automatic cuts called “sequester,” which were part of the under-appreciated 2011 budget deal between Republicans in Congress and Obama, are working to force down outlays on non-entitlement programs. READ MORE...

  • Good Grief… Hillary Clinton Bashes George W. Bush – Pushes Obamanomics (Video)

    It’s clear now after five years of Obama that Democrats have no idea on how to run an economy:

    – The worst jobs president ever.
    – The worst deficits ever
    – 101 million on food aid
    – The worst economic growth in decades
    – The worst recovery ever
    – More people living in poverty

    So to listen to Democrats like Hillary brag about building the economy is a real laugh.Today Hillary praised Bill Clinton and Barack Obama’s economic policies.
    The last thing America needs is eight more years of Obamanomics. READ MORE...

  • Is the Tea Party Finished?

    Last week, Greg Brannon failed to force a runoff in the North Carolina Republican primary for U.S. Senate. Polls show Paul Broun fading to third or fourth place in Georgia’s primary later this month. Nobody seems to have laid a glove on Lindsey Graham in South Carolina, whose primary will be held in June.

    Senate Minority Leader Mitch McConnell was panned by conservatives for the prediction he made to the New York Times about Tea Party primary challengers. “I think we are going to crush them everywhere,” he said. “I don’t think they are going to have a single nominee anywhere in the country.” READ MORE...

  • Greece Shows Far an Economy Can Fall

    ATHENS — How far can a modern economy sink?

    The Greek economy is entering its fifth year of decline. Nominal gross domestic product is about 28 percent lower than it was four years ago. The official unemployment rat is 27.5 percent (as though the decimal point matters, given the poor quality of the data). The unemployment rate for young people is about 60 percent. Nonperforming loans continue to rise. The privatization program continues to fail, in part because of an absence of bidders.

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