Tag Archives: budget geekery
On the Heritage Foundation Projections in Paul Ryan’s Budget
Yes, the macroeconomic projections at the end of Rep. Ryan’s budget resolution, courtesy of the conservative Heritage Foundation, are absurd. They used the IHS Global Insight macro model to dynamically score the Ryan budget. I always thought that the GI … Continue reading
Filed under Economics
An Incomplete Receipt
I love Third Way’s idea of a tax receipt showing where your federal taxes are going. I even love much of the way they implemented it, including the categories they chose. But there’s one gaping omission: tax expenditures. We “spend” … Continue reading
Filed under Economics
The President’s Budget, Continued: The White House Responds to CBO
Jack Lew, the director of the White House Office of Management and Budget, responds to the CBO analysis released today showing the extent of the White House’s budget optimism over the next decade: There are two main reasons why our … Continue reading
Filed under Economics
CBO’s Estimate of the President’s Budget Dramatically Different from the President’s Own Estimate
The Congressional Budget Office (CBO) analyzes the president’s budget request every year to provide a score that is consistent with CBO’s baseline projection of deficits, debt, and the economy. They released a preliminary analysis of the president’s fiscal year 2012 … Continue reading
More Ryan Roadmap
Jennifer Rubin takes on Matt Miller without ever responding to his most damning critique of Paul Ryan’s Roadmap. Here’s what Matt said: As can never be said often enough, Ryan is absurdly hailed as a fiscal “conservative” for a “roadmap” … Continue reading
Filed under Economics
On the CLASS Act and Fiscal Honesty
Via Reihan Salam, James Capretta reacts to the Administration’s decision to improve the CLASS Act, the long-term care insurance program that was passed as a part of health care reform: Stunningly, the Obama administration, after spending months defending CLASS’s virtues, … Continue reading
Filed under Economics, Health Care
Obama’s budget lowers deficits more than Paul Ryan’s Roadmap over 10 years
I’m already on record saying that I found the president’s proposed budget to be underwhelming, disappointing, and fiscally inadequate. On the other hand, it’s rich to hear Rep. Paul Ryan criticize it for not going far enough to lower deficits, … Continue reading
Filed under Economics
Yes, the White House’s budget assumptions are more optimistic than CBO’s. Here’s proof.
The White House Office of Management & Budget (OMB) released the president’s proposed fiscal year (FY) 2012 budget earlier today. For the most part, it was underwhelming. The president’s plan gets deficits down to 3% of GDP in 2017 (the … Continue reading
Filed under Economics
Explaining Our Record Deficits in One Sentence
CBO projects that federal spending in fiscal year 2011 will reach its second highest level relative to the economy since World War II (the highest was 2009), while it also projects that revenues will be the second lowest relative to … Continue reading
Filed under Economics
Putting the Cost of Health Care Reform in Perspective
There are, believe it or not, plenty of interesting tidbits from CBO’s latest Budget and Economic Outlook. Below, for example, is CBO’s projection of the budgetary costs of different federal medical entitlements. Notice the budgetary impact of the subsidies and … Continue reading
Filed under Health Care
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