More Budgets and Deficits Articles

  • Amid budget woes, gas drilling tax turns GOP heads

    HARRISBURG, Pa. (AP) — A proposal to slap Pennsylvania's booming natural gas industry with a new tax is turning the heads of Republican lawmakers amid an increasingly grim budget picture. Some Republicans in the Capitol are predicting that a tax on natural gas extraction could end up in...

  • Oklahoma House's top Democrat: No time for tax cut

    The top Democrat in the Oklahoma House said Thursday that legislators shouldn't cut the state income tax this year, citing declining revenue and critical public education and transportation needs.

  • Connecticut GOP offers state budget alternative

    Minority Republicans in the Connecticut General Assembly on Thursday offered an alternative $18.9 billion state budget that scraps the governor's proposed $55 tax rebate, ends the state's earned income tax credit program for the working poor and doesn't include what the GOP calls Democratic...

  • Detroit bailout plans just paper over the problem with more money

    In Detroit's unfolding saga, the only innocent victims are city residents. So if there is any case for a Motown bailout, it is to make the city more livable for them. However, that seems to be the main goal of neither the Democratic White House nor the state's Republican governor -- both of...

  • Judge wants Detroit mayor to back bankruptcy plan

    DETROIT (AP) — Looking years ahead, the judge overseeing Detroit's bankruptcy said Thursday he wants assurances from the mayor and other elected leaders that they'll follow a final plan that likely cuts pensions, sheds debt and plows millions into better services. The bankruptcy case — the...

  • Manhattan Moment: Obamacare still holds opportunities for free-market reform

    In a recent update to its projections for Obamacare's cost, the Congressional Budget Office estimated that the net cost of the law has fallen by about $109 billion through 2024. Amidst a multitude of factors, one stands out: a significant reduction in projected exchange subsidies of about $164...

  • Congressional Budget Office: TARP on track to cost government $27 billion

    The enormous bailout of the U.S. financial system at the height of the financial crisis in fall 2008 is on track to cost the federal government $27 billion, the Congressional Budget Office estimated in a report issued Thursday afternoon.

  • DC Council sues mayor over budget autonomy law

    WASHINGTON (AP) — One branch of District of Columbia government sued another Thursday over how best to achieve a goal that both sides agree on: the ability of the city to spend its local tax dollars without authorization by Congress. The D.C. Council and Mayor Vincent Gray office both support...

  • Budget office: Wage boost would cost firms $15B

    WASHINGTON (AP) — A Senate Democratic bill gradually increasing the federal minimum wage to $10.10 hourly would require private businesses to spend $15 billion more in salaries when it takes full effect in 2017, the Congressional Budget Office estimated Thursday. The nonpartisan budget...

  • CBO on Obama budget: Higher deficits than claimed

    WASHINGTON (AP) — A report released Thursday by the nonpartisan Congressional Budget Office says President Barack Obama's budget request would mean significantly larger budget deficits than the White House claims. CBO says the budget plan proposed last month by Obama would produce deficits of...

  • Congressional Budget Office: Obama budget wouldn't put debt on downward path

    President Obama's budget would not place the federal debt on a downward path over the next 10 years, according to projections released by the Congressional Budget Office on Thursday. The CBO, Congress’ nonpartisan budget scorekeeper, projected that if the president’s proposals were to go...

  • Detroit still needs $350M from state lawmakers

    DETROIT (AP) — Pressure was building Wednesday for Michigan lawmakers to commit $350 million to Detroit pensions, a day after the city reached tentative agreements with pension funds and a retiree group to reduce payouts. The city has an $816 million pledge from foundations, philanthropists...

  • Governor calls special session on rainy day fund

    SACRAMENTO, Calif. (AP) — Saying the state's budget surplus should be used to pay down debt, Gov. Jerry Brown on Wednesday called a special session of the Legislature to make changes to a rainy-day fund measure on the November ballot. He wants to replace the current ballot measure, which...

  • No, Warren Buffett isn't a hypocrite for paying low taxes

    Warren Buffett thinks his taxes should be higher. An understandable response is "so, pay more in taxes, Mr. Buffett." Some conservatives, in fact, call Buffett a hypocrite for not voluntarily paying a higher rate than his secretary.

  • Federal Highway Trust Fund is nearly broke; DOT chief wants Congress' help

    On the road in a tour bus this week, the U.S. transportation secretary is spreading some bad news: The government's Highway Trust Fund is nearly broke.



From the Weekly Standard

  • Why the New York Times Poll Is Bogus

    The Arkansas Senate race has been close in virtually every serious poll. The Republican challenger, Tom Cotton, probably had a small lead a month or so ago; after a massive negative assault on him...

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  • Hustle Is Overrated

    The Bryce Harper-Mike Trout showdown is underway and the outcome is, well, inconclusive. In round one Monday night, the Nationals leftfielder walked and went hitless in three at bats while the...

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  • Kennedy’s Question

    We often think of the Constitution as a two-part document: first the original 1787 text, which primarily establishes the government’s structure; and then the amendments, which primarily set...

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