Congressional Budget Office

Obama cutting back on budget deficit reductions

Obama cutting back on budget deficit reductions

President Barack Obama will propose an election-year budget that would drop reductions he had previously embraced in federal benefits, officials disclosed Thursday. He also will ask Congress to approve about $56 billion in new or expanded programs, stepping back from aggressive efforts to tackle long-term government deficits and debt. Obama is scrapping his previous offer […]

Raising minimum wage could cost half-million jobs by 2016

Raising minimum wage could cost half-million jobs by 2016

A report by Congress’ nonpartisan budget analysts seems to have thrown Democrats onto the defensive after it concluded that the party’s drive to boost the federal minimum wage could cost a half-million jobs by 2016. A Congressional Budget Office report released Tuesday concluded that a gradual increase to $10.10 hourly by that year — which […]

Anti-Obamacare rants: Facts don’t support rhetoric

Anti-Obamacare rants:  Facts don’t support rhetoric

As is normal in political debates, the facts come up short of matching rhetoric, especially when it comes to anti-Obamacare rants from the usual collective of Republican naysayers. The rabid right has jumped on a new report from the Congressional Budget Office that claims the new healthcare law will “encourage” millions of Americans to quit […]

Does new health care law mean fewer people on the job?

Does new health care law mean fewer people on the job?

Several million American workers will cut back their hours on the job or leave the nation’s workforce entirely because of President Barack Obama’s health care overhaul, congressional analysts said Tuesday, adding fresh fuel to the political fight over “Obamacare.” The workforce changes would mean nationwide losses equal to 2.3 million full-time jobs by 2021, in […]

As budget numbers improve, zeal for more cuts wane

As budget numbers improve, zeal for more cuts wane

New U.S. budget deficit estimates due on Tuesday will likely show a rapidly improving fiscal picture over the next few years, contributing to a waning appetite in Washington for further budget cutting. The Congressional Budget Office is expected to revise downward its deficit forecasts over the next 10 years. Many analysts believe that major deficit […]

White House claims easy ride to lifting debt limit

White House claims easy ride to lifting debt limit

A top White House official voiced confidence on Thursday that Republicans would agree in the next few weeks to lift the country’s borrowing limit without using the confrontational tactics that rattled financial markets in past years. White House Budget Director Sylvia Mathews Burwell said she believes there is less appetite on Capitol Hill for the […]

House rushing for approval of new farm bill

House rushing for approval of new farm bill

The House is rushing to complete work on a nearly $100 billion-a-year farm bill that would make small cuts to food stamps and continue generous subsidies for the nation’s farmers. Conservative Republicans in the House helped defeat an earlier version of the bill last summer, and some of those lawmakers hoped to do so again […]

Without young enrollees, Obamacare could get sick

Without young enrollees, Obamacare could get sick

Now that more than 2 million people have signed up for private insurance plans created by President Barack Obama’s healthcare law, a crucial next check-up for the new marketplace will be to see how old customers are. Early data from a handful of state exchanges shows the administration needs more young adults to sign up […]

Obamacare’s line: ‘Don’t worry, bet happy’

Obamacare’s line: ‘Don’t worry, bet happy’

The U.S. government said it was still processing thousands of sign-ups for health insurance under President Barack Obama’s signature healthcare law on Tuesday as Americans made a final rush to obtain medical coverage in time for New Year’s Day. Citing nearly 2 million visits to the HealthCare.gov website and over 250,000 inquiries at call centers […]

A road paved with sand

A road paved with sand

Bills have been introduced into both the House and the Senate to dismantle the federal government’s role in interstate highways and leave that massive responsibility to individual states. Tea Party adherents and other conservatives are applauding this effort. The Interstate Highway System, they argue, was largely completed in the 1980s and local communities should provide […]

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