Congressional Budget Office

If debt ceiling reached, what bills won’t be paid?

If debt ceiling reached, what bills won’t be paid?

In the summer of 2011, when a debt crisis like the current one loomed, President Barack Obama warned Republicans that older Americans might not get their Social Security checks unless there was a deal to raise the nation’s borrowing limit. After weeks of brinkmanship, Republicans consented and Obama agreed to a deficit-reduction plan the GOP […]

Shoppers spending disappoints retailers during holiday

Shoppers spending disappoints retailers during holiday

U.S. shoppers spent cautiously this holiday season, a disappointment for retailers who slashed prices to lure people into stores and now must hope for a post-Christmas burst of spending. Sales of electronics, clothing, jewelry and home goods in the two months before Christmas increased 0.7 percent compared with last year, according to the MasterCard Advisors […]

Obama, Boehner, Congress and the ‘fiscal cliff’

Obama, Boehner, Congress and the ‘fiscal cliff’

Newly re-elected President Barack Obama will use a White House appearance to set the tone for upcoming talks with congressional Republicans on avoiding the so-called fiscal cliff. Republicans continue to draw a line in the sand against higher tax rates for upper-income earners as they seek to topple the conventional wisdom that Obama has the […]

Ryan already at odds with Romney team

Ryan already at odds with Romney team

Paul Ryan wants to talk policy. Mitt Romney‘s team wants his No. 2 to focus more on his immigrant family and small-town values. The top of the ticket is certain to win out as the Wisconsin congressman accepts the vice presidential nomination of his party Wednesday night. Ryan will deliver a speech to thousands of […]

Study says Obamacare increases nation’s deficit

Study says Obamacare increases nation’s deficit

Reigniting a debate about the bottom line for President Barack Obama’s health care law, a leading conservative economist estimates in a study to be released Tuesday that the overhaul will add at least $340 billion to the deficit, not reduce it. Charles Blahous, who serves as public trustee overseeing Medicare and Social Security finances, also […]

Historic Supreme Court hearing on Obamacare opens today

Historic Supreme Court hearing on Obamacare opens today

President Barack Obama’s health care overhaul is front and center at the Supreme Court for three days of hearings to determine the fate of a law aimed at extending health insurance to more than 30 million Americans. The justices will hear arguments beginning Monday in a highly partisan legal fight between the Obama administration and […]

Health care claims long on hype, short on facts

Health care claims long on hype, short on facts

Republicans pushing to repeal President Barack Obama‘s health care overhaul warn that 650,000 jobs will be lost if the law is allowed to stand. But the widely cited estimate by House GOP leaders is shaky. It’s the latest creative use of statistics in the health care debate, which has seen plenty of examples from both […]

Health care repeal could deepen govenment red ink

Health care repeal could deepen govenment red ink

Repealing President Barack Obama‘s landmark health care overhaul would add billions to government red ink and leave millions without coverage, Congress’ nonpartisan budget referees said Thursday ahead of a politically charged vote in the House. House Speaker John Boehner brushed off the Congressional Budget Office analysis as emboldened Republicans, now in the majority in the […]

Cantor: Americans hate health bill

Cantor: Americans hate health bill

House Majority Leader Eric Cantor says the new health care law is getting in the way of job-creation and vows Republicans are committed to repealing it. Cantor tells CBS‘s “The Early Show” the GOP isn’t retreating from its commitment to get rid of the law overhauling the health care system, even though Senate Democrats have […]

Republicans already breaking their promises

Republicans already breaking their promises

Republicans have already violated some of the vows they made in taking stewardship of the House. Their pledge to cut $100 billion from the budget in one year won’t be kept. And for a coming vote seeking to repeal the health care overhaul, the first major initiative of the new Congress, lawmakers won’t be allowed […]