CBO

Gloomy forecasts are becoming ubiquitous, lending credence to the view that economics is the dismal science.

How debt is shaping up to be our undoing.

House Majority Whip Steve Scalise, R-La., and Rep. David McKinley, R-W.Va., recently introduced a resolution that explains why a carbon tax would harm the economy and why it should not be enacted

Since 2005, the Congressional Budget Office has published an annual report on the long-term sustainability of U.S. fiscal policies.

With the passage of the Tax Cut and Jobs Act in late 2017, Republicans implemented far-reaching tax cuts that will allow tens of millions of families to keep more of their own money and made a number of long overdue changes to the nation’s tax code.

Once again, the financial fears have been ratcheted up due to recent announcements by the U.S. Treasury Secretary, Steven Mnuchin, and the Congressional Budget Office (CBO) that by the middle of March 2018 the Federal government will have run out of room to continue borrowing due to the official debt ceiling.

Federal and state governments pass a massive number of new rules and regulations each year, imposing billions of dollars in costs on individuals and businesses.

In the coming weeks, Congress will again debate increasing the debt limit. 

Sen. Rand Paul (R-Ky.) was the only legislator to vote against Senate Concurrent Resolution 3, which sets the framework for budget negotiations in the 115th Congress.

Some old-guard Republicans are floating the idea of a national tax on carbon-dioxide emissions.

While President-Elect Donald Trump was blazing a new electoral trail for Republicans, few noticed that Speaker Paul Ryan was organizing his House Republican majority to blaze new policy trails.

June 10, 2016, the U.S. House of Representatives passed a resolution sponsored by Rep. Steve Scalise (R-LA) saying a carbon tax would harm the economy and should not be enacted. The 237–163 vote in favor of the resolution included only six Democrats, who joined the entire Republican caucus.

The news is filled with the everyday zigzags of those competing against each other for the Democrat and Republican Party nominations to run for the presidency of the United States. But one of the most important issues receiving little or no attention in this circus of political power lusting is the long-term danger from the huge and rising Federal government debt.