Topic: U.S. Congressional Budget Office
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'Fiscal cliff' 101: 5 basic questions answered
President Obama and congressional leaders are working to stop the US from going over the “fiscal cliff,” a combination of higher taxes and lower spending set to take effect Jan. 1. Here are five steps to understanding what's going on.
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6 ways to avoid the 'fiscal cliff'
Republican congressional leaders and President Obama sharply disagree over how to deal with the impending “fiscal cliff.” But a successful plan shouldn’t be that hard to put in place. Here are six ways Washington can avoid the “fiscal cliff.”
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Six points where Mitt Romney and his economic advisers are mostly wrong
Mitt Romney’s economic plan is largely based on a whitepaper written by several “heavyweight” economists. The problem is, it's riddled with fundamental flaws. Here are six points where Mitt Romney and his economic advisers are mostly wrong about what ails the American economy and how to fix it.
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Briefing
Obama vs. Romney 101: 5 ways they differ on debt and deficits
President Obama and Mitt Romney offer sharply different views on how to get the nation back on a sustainable fiscal path. Here are five ways they differ on policies to cope with a soaring debt.
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The Paul Ryan budget: 5 go-to sources for understanding it
Looking for in-depth analysis of the Paul Ryan budget plan? D.C. Decoder has compiled a list of excellent sources to help you sort out truth from fiction.
All Content
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Obama talks 'fiscal cliff.' Why the urgency to reach deal sooner, not later?
Speed is of the essence in dealing with the fiscal cliff, some economists warn. Delaying until late this year – or worse, 2013 – would mean a bigger hit to the US economy, and even a recession.
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CBO: Going over the fiscal cliff is bad, but so is ignoring the national debt
The Congressional Budget Office warns in a report Thursday that allowing tax hikes and spending cuts to occur – going over the fiscal cliff – could cause a recession.
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Senator Schumer 'very heartened' by Boehner's 'fiscal cliff' speech
Sen. Charles Schumer, a key Democratic strategist, saw positive signs in House Speaker John Boehner's comments that he would consider closing tax loopholes to raise new revenue.
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Would tea party accept a Bill Clinton-brokered deal with Obama?
Chastened by Obama’s win, Republicans are taking a hard look at the impact of the tea party wing on the party brand. The real story may be whether that makes the GOP more amenable to a deal.
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Robert Reich
Obama's next economy: the danger of the fiscal cliffPresident Obama's reelection victory and the pending fiscal cliff give him an opportunity to recast the economic debate, Reich writes.
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Can we live with the budget 'sequester'? Yes, but it’s better if we don’t.
Congress has many incentives to prevent the $100 billion 'sequester', the feared 'fiscal cliff' among them. But it’s main drawback is that it’s a blunt tool for a delicate budgetary task.
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Six points where Mitt Romney and his economic advisers are mostly wrong
Mitt Romney’s economic plan is largely based on a whitepaper written by several “heavyweight” economists. The problem is, it's riddled with fundamental flaws. Here are six points where Mitt Romney and his economic advisers are mostly wrong about what ails the American economy and how to fix it.
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Robert Reich
Should the rich pay more?The biggest issue on which the presidential candidates have given us the clearest choice is whether the rich should pay more in taxes, Reich writes.
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Decoder Wire
Do the numbers of Obama's $4 trillion deficit plan add up?Deficit plans are never set in stone and often more a statement of policy values than a fiscal blueprint. President Obama's is no different. But digging into it offers interesting insight.
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Great expectations for US economy: Are Obama, Romney too optimistic?
Mitt Romney and President Obama both present to voters rosy views of future economic growth. Those scenarios aren't impossible, but it's fair to attach some big asterisks to them.
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Fix the Debt: CEOs launch drive for 'grand bargain.' Is Washington listening?
The Fix the Debt CEOs, who are dedicated to pushing Washington toward a deficit-reducing 'grand bargain,' say they were appalled by the reckless debate over the debt ceiling in 2011.
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Presidential debate 101: Does Romney want extra $2 trillion for Pentagon?
Romney's call for Pentagon spending to be no less than 4 percent of GDP could add $2 trillion to its budget. But Obama's claim that this is money the military doesn't want misses a key issue: civilian control.
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Will US economy rebound in 2013? Forecasters say not much.
An improved housing market and better auto sales are expected to boost US economic growth in 2013, but slowing economies in China and Europe will be a net drag. Meanwhile, Congress will 'kick the can down the road' on extending Bush tax cuts, economic forecasters predict.
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Robert Reich
How the fiscal cliff turns into a gentle 'fiscal hill'Hyper-polarized Washington hasn’t shown itself capable of rational behavior, Reich writes; It's why the nation is heading over a fiscal cliff that may begin to look more like a hill whose slope remains uncertain but will almost surely be gradual.
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Economist Mom
Turning the fiscal cliff into a good thingThe dreaded 'fiscal cliff' can work – if lawmakers strive to achieve the same amount of deficit reduction over a 10-year budget window as is implied by the current-law baseline except with economically smarter, better-timed spending cuts and revenue increases.
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Decoder Wire
Presidential debate 101: Did Obama really double the deficit?During the arithmetical dodge ball that constituted much of the first debate, Mitt Romney said the US deficit 'doubled' under Obama. In fact, it has declined, though it is still more than $1 trillion.
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Mitt Romney pitches smaller government: Is his target realistic?
While President Obama sees sizable government as fostering economic growth, Mitt Romney wants to cap federal spending at 20 percent of GDP. Is that goal feasible – and economically helpful?
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Tax VOX
What did we learn from Obama and Romney in the presidential debate? Not muchThe presidential debate showed almost nothing new about how either Romney or Obama would govern over the next four years, Gleckman writes.
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Decoder Wire
Presidential debate 101: Does Romney have a $5 trillion tax cut, or not?Obama insisted during the first presidential debate that Romney would cut taxes by $5 trillion over 10 years. Here's where that figure comes from – and why Romney rejects it.
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Energy Voices
Fisker tries new tack as woes pile up for plug-in carmakersFisker wants to share technology and sell shares, the latest sign that the economics of plug-in cars are making it difficult for automakers to turn a profit.
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Mitt Romney's 14 percent tax bite: your guide to deciphering what's 'fair'
Many millionaires pay an effective tax rate much closer to Mitt Romney's 14 percent than to the official 35 percent top bracket. Preferential rates for investment income, including capital gains, are the reason. Is it time to change that?
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Tax VOX
What happens if Congress goes over the fiscal cliff? Taxes rise.Americans could face an average tax hike of almost $3,500 in 2013 if Congress goes over the fiscal cliff, Gleckman writes. The looming fiscal cliff poses a major threat for the US economy.
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Where did the mammoth US budget deficits come from?
Let's go back about a decade, when budget surpluses were predicted for the foreseeable future. Somehow, the math went terribly wrong, by trillions of dollars. Here's an accounting of what happened.
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National Plug In Day: Electric car fans push pedal to metal
National Plug In Day celebrated the electric car in 60 cities over the weekend. Declared all but dead a short while ago, the electric car market is beginning to thrive. But can electric cars ever gain a meaningful foothold in the gas-dependent US auto industry?
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Energy Voices
CBO: Electric car subsidies ineffectual on fuel efficiencyA new report by the US Congressional Budget Office found that tax credits and other initiatives will not significantly impact the overall fuel-efficiency of cars on American roads, according to Consumer Energy Report.
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