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Budget office warns of recession if Congress allows country to go over fiscal cliff

August 22, 2012 The drumbeat about the magnitude of the end-the-year tax and spending decisions continued Wednesday, as the Congressional Budget Office released its updated economic and budget forecast for the next 10 years. Much of the country’s economic future now hangs on the choices the lawmakers will make in the six weeks ...

Analysis: The legend of Simpson-Bowles

August 17, 2012 Coming this holiday season! From the people who brought you the most acclaimed, misconstrued, pain-laden tax and budget plan of all time! Simpson-Bowles: The Sequel. A crowd of ex-politicians and business executives, led by former Sens. Judd Gregg, R-N.H., and Alan Simpson, R-Wyo., former Pennsylvania Gov. Ed Rendell, and former ...

Are Americans ready for a real debate on the size of government?

August 15, 2012 Americans are not ready to debate the size and scope of the federal government, pollsters say, despite the presidential campaign’s sudden detour toward issues such as the future of Medicare, Social Security, and the country’s deficit. “The average citizen would rather close down a lot of buildings in D.C. than ...

Romney's VP choice brings budget leadership experience

August 11, 2012 In the weeks before Rep. Paul Ryan released his latest budget blueprint this year, he urged all of the presidential candidates to follow his fiscal lead. He critiqued GOP front-runner Mitt Romney’s speech at the Conservative Political Action Conference as “pretty good,” but cautioned that all of the candidates needed ...

Obama, Romney differ greatly on size of government

May 25, 2012 Few issues illuminate the presidential candidates’ wildly divergent views on the appropriate size and role of the federal government more than taxes and spending. For President Obama, fiscal policy is a means for preserving the country’s safety net; promoting education, environmental protection, and other social goals; raising taxes on the ...

Republican budget proposal a political document

March 20, 2012 If a budget is a political document, then House Budget Chairman Paul Ryan, R-Wis., laid down his marker Tuesday to show how little he likes the size and scope of federal government: a dramatic and perhaps unwise stance in a close election year. Ryan’s budget proposal, released Tuesday morning, would ...

House GOP budget to avoid sequester of Defense funds

March 15, 2012 House Republicans are planning to pull the defense-spending cuts mandated by sequestration off the table in their version of the budget expected to be released next week, according to two Hill aides. President Obama and Defense Secretary Leon Panetta have stated they want defense spending to be part of a ...

Budget day arrives with low expectations

February 13, 2012 The conventional wisdom that already surrounds President Obama’s fiscal 2013 budget is bleak, indeed. Dead on arrival. Just another political document. A collection of small-bore ideas. Harsh, yes. But, if history is any guide, the judgments are pretty accurate, more likely than not. The agenda that the president chooses to ...

Video: Low expectations for President Obama's budget request

February 10, 2012 The conventional wisdom that already surrounds President Obama's fiscal 2013 budget is bleak indeed. Dead on arrival. Just another political document. A collection of small-bore ideas. Harsh, yes. But, if history is any guide, the judgments are more likely than not pretty accurate. George W. Bush Social Security was his ...

President Obama's budget delayed until Feb. 13

January 23, 2012 The White House will release its budget a week late, on Monday, Feb. 13, according to an administration official. Originally, it had been scheduled for its release on Feb. 6. When asked about the delay, the official wrote in an email: "As in previous years, the date was determined based ...