The Congressional Budget Office has calculated that ending the Bush tax cuts for earners on income over the first $250,000 would contribute $950 billion over a ten-year period. $823 billion of that would come from the increased revenue, and another $127 billion would arise from the lower interest on the associated debt.
|By: David Dayen Monday August 27, 2012 11:00 am|
|By: David Dayen Wednesday August 22, 2012 1:40 pm|
The Congressional Budget Office released an update to their fiscal projections for 2012 to 2022. And it shows that the US will carry a $1.1 trillion budget deficit this year, down from their earlier projection of $1.2 trillion. But CBO also shows that if the fiscal cliff measures all occur, the economy would suffer, with declining GDP and increased unemployment.
|By: Jon Walker Tuesday July 24, 2012 1:45 pm|
The Congressional Budget Office now estimates that roughly four million fewer Americans will likely gain insurance coverage in 2014 and three million fewer in 2022 as a result of the Supreme Court ruling. Most of the drop in coverage will be the result of states exercising their option to not expand Medicaid.
|By: Jon Walker Thursday June 21, 2012 7:30 am|
In the very near future the Supreme Court will rule on the constitutionality of the Affordable Care Act. One likely outcome is the court strikes down the individual mandate but leaves the rest of the law intact.
Here is what eliminating just the mandate would actually mean for policy.
|By: David Dayen Wednesday May 23, 2012 7:00 am|
CBO predicts that if all of the 2012 tax and spending cut measures occur under current law, it would reduce the deficit but also drag down GDP by 4% or more and cause a recession next year.
|By: Jon Walker Wednesday March 28, 2012 12:40 pm|
The individual mandate will actually have almost no impact on what a majority of people using the new exchanges would pay for health insurance. That’s because for most people using the new exchanges, their cost of insurance will be determined by the affordable tax credits. According to the CBO’s projections, roughly 60 percent of people getting insurance in the non-group market will qualify for affordability tax credits.
|By: Jon Walker Tuesday March 20, 2012 5:45 pm|
According to the Congressional Budget Office analysis of the Paul Ryan (R-WI) House Republican budget outline, at least what can be analyzed given that Ryan leaves huge unanswered questions about how his tax provision would even work, the plan calls for massive cuts in public health care spending. The result of the cuts would be millions of Americans ending up worse off.
|By: David Dayen Tuesday March 20, 2012 9:40 am|
Paul Ryan’s budget was released this morning. He kicked it off with another pretentious video preview and a somewhat less pretentious and more standard op-ed in the Wall Street Journal. Ryan’s budget resolution is similar to last year’s version, which passed the House and went nowhere in the Senate.
|By: David Dayen Friday March 16, 2012 9:13 am|
Dr. Lan Pham, a former senior staffer financial economist for the Congressional Budget Office, was fired from the organization for her attempts to quantify the economic implications of foreclosures and foreclosure fraud. The CBO rejected her analysis and even dismissed the notion that foreclosures cause a negative hit to the economy. The letter, from February 2011, was just released publicly today.
The release of this information should cause grave concern as to the legitimacy of CBO reports, and highlight the conspiracy of silence about foreclosure fraud issues, which official Washington simply does not want to deal with.
|By: Jon Walker Friday March 16, 2012 6:00 am|
The Congressional Budget Office looked at the potential impact of companies choosing to drop their employee provide health insurance as a result of the Affordable Care Act. According to its analysis, if a large number of companies stop providing health insurance benefits it should cause the ACA on net to decrease the deficit even further.