President Joe Biden’s proposed $2 trillion American Jobs Plan could end up costing taxpayers more than $666,666 per job created.
The Washington Post gave Biden “two Pinocchios” for saying the American Jobs Plan, his infrastructure and jobs proposal, will create 19 million jobs. Both Biden and his Transportation Secretary Pete Buttigieg have made the 19 million jobs claim. The source of the statement is a Moody’s analysis, which CNN pointed out had estimated the U.S. economy would add about “16.3 million jobs over the same period if the infrastructure proposal does not get passed.” Read More
The U.S. budget deficit will be larger than expected because of the $900 billion stimulus bill passed in December, a whopping $448 billion larger than was projected in September, the Congressional Budget Office said Thursday.
According to Breitbart, the CBO forecasts that the federal government will borrow $2.26 trillion this year making it the second-largest deficit since World War II. Last year’s $3.1 trillion was the biggest in absolute numbers and also the largest as a share of gross domestic product. Read More
The federal budget deficit grew a whopping 400% in one year as the pandemic caused spending to skyrocket, the Congressional Budget Office said in a report Tuesday.
The estimated January federal budget deficit was $165 billion, $132 billion more than the deficit in January 2020, according to a Congressional Budget Office (CBO) report released Tuesday. The federal budget in the first four months of fiscal year 2021, which started in October, was $738 billion, an 89% jump compared to the same period last year. Read More
The federal deficit in the first three months of the budget year is 60.7 percent higher than over the same time period as last year, a record-breaking $572.9 billion.
The deficit surged as a result of Congressional spending of $3.5 trillion in 2020 in response to the coronavirus, although critics note that spending on pork barrel programs that had nothing to do with the virus increased and also drove the deficit. At the same time, revenue declined because of ongoing state lockdowns. Read More
The federal budget deficit hit an all-time high of $3.1 trillion in the 2020 budget year, more than double the previous record, as the coronavirus pandemic shrank revenues and sent spending soaring.
The Trump administration reported Friday that the deficit for the budget year that ended on Sept. 30 was three times the size of last year’s deficit of $984 billion. It was also $2 trillion higher than the administration had estimated in February, before the pandemic hit. Read More
“I am not worried about the deficit,” Ronald Reagan famously said. “It is big enough to take care of itself.”
If you pay attention to the libertarian purists, President Reagan earns mixed reviews on his economic policies. After all, in 1983, the federal budget deficit exceeded 6 percent of GDP. But Reagan was untroubled by federal budget deficits for at least two reasons, and in both cases he has been vindicated by history. Read More
With just two months remaining in fiscal year 2019, come Sept. 30, the U.S. budget deficit appears likely to come in just shy of $1 trillion, the latest data from the U.S. Treasury shows. Read More
U.S. Sen. Marsha Blackburn (R-TN) released a statement after her vote against the massive Bipartisan Budget Agreement that the Senate approved. “Governance requires tough choices, and if everything is a priority then nothing is a priority. Our priority should be ensuring our men and women in uniform have the… Read More
by Robert Romano The numbers for the end of Fiscal Year 2018 are in and they aren’t pretty for fiscal hawks, as the budget deficit increased by an eye-popping $113 billion to $779 billion. But it had nothing to do with tax cuts. Tax receipts rose by $14 billion.… Read More
by Justin Bogie Congress is up to its old tricks again, trying to pass another massive spending bill that uses gimmicks and tricks to push deficit spending even higher. And it thinks it can hoodwink President Donald Trump into signing it. Next week, the House is expected to vote on… Read More
by Jeffery Rendall As I strolled through the excellent and memory-provoking exhibits at the Ronald Reagan Presidential Library (in Simi Valley, CA) the other day I was struck by how similar President Donald Trump’s approach to today’s politics is to the way Ronald Reagan handled the subject a half… Read More
Reuters China’s trade surplus with the United States swelled to a record in June as its overall exports grew at a solid pace, a result that could further inflame a bitter trade dispute with Washington. But signs exporters were rushing shipments before tariffs went into effect in the first… Read More
President Donald Trump unveiled his plan Monday to fix what the White House describes as the “unacceptable state of disrepair” of the nation’s roads and bridges, but some experts warn it could turn into a costly and unneeded boondoggle to fix a problem that doesn’t really exist. Read More
Any time you hear Washington talk about bipartisan agreement, America, grab your wallet and run! Once again, lawmakers in Washington have finally cut through all the thorny brambles of partisanship and discovered (yet again! yippie!) something they can all agree upon: spending scads and scads more of other people’s money… Read More
The House of Representatives passed a massive $400 billion budget agreement early Friday intended to end a partial federal government shutdown. The lawmakers voted 240-186 to approve the accord that now goes to President Donald Trump for his signature. However, it only funds the government through March 23. Read More
By CHQ Staff In its blind failure to recognize its dire peril, Capitol Hill’s Republican establishment is beginning to look a lot like the unfortunate souls at Jonestown who “drank the Kool-Aid” and committed mass suicide as the authorities closed in on the cult at its remote compound in… Read More