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Tag Archives : budget

Federal Spending Primer, Part II: The Spending Burden

Federal Spending Primer, Part II: The Spending Burden

Posted on September 6, 2023

Understanding the economic burden of the federal government.

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Federal Spending Primer, Part I: Budget Basics

Federal Spending Primer, Part I: Budget Basics

Posted on July 25, 2023

Explaining the core features of federal budgeting.

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European Politicians Share Obama’s View of a “Balanced Approach”

European Politicians Share Obama’s View of a “Balanced Approach”

Posted on October 11, 2012

President Obama supports higher taxes, but he usually claims he only wants higher tax rates on evil rich people as part of his class-warfare agenda. Heck, he promised back in 2008 that, “no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not […]

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The 1993 Clinton Tax Increase Did Not Lead to the Budget Surpluses of the Late 1990s

The 1993 Clinton Tax Increase Did Not Lead to the Budget Surpluses of the Late 1990s

Posted on February 10, 2011

Proponents of higher taxes are fond of claiming that Bill Clinton’s 1993 tax increase was a big success because of budget surpluses that began in 1998. That’s certainly a plausible hypothesis, and I’m already on record arguing that Clinton’s economic record was much better than Bush’s performance. But this specific assertion it is not supported […]

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It’s Simple to Balance The Budget Without Higher Taxes

It’s Simple to Balance The Budget Without Higher Taxes

Posted on October 4, 2010

Politicians and interest groups claim higher taxes are necessary because it would be impossible to cut spending by enough to get rid of red ink. This Center for Freedom and Prosperity video shows that these assertions are nonsense. The budget can be balanced very quickly by simply limiting the annual growth of federal spending.

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New CF&P Video Debunks Claim that Tax Hikes are Required to Balance the Budget

New CF&P Video Debunks Claim that Tax Hikes are Required to Balance the Budget

Posted on October 4, 2010

In a new video released today by the Center for Freedom and Prosperity Foundation (CF&P), Dan Mitchell of the Cato Institute debunks the statist claim that the federal budget can only be balanced through massive tax hikes.

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It’s Simple to Balance the Budget without Higher Taxes

It’s Simple to Balance the Budget without Higher Taxes

Posted on September 22, 2010

John Podesta of the Center for American Progress had a column in Politico yesterday asserting that “closing the budget gap entirely on the spending side would require draconian programmatic cuts.” He went on to complain that there are some people who “refuse to look at the revenue side of the ledger – while insisting that […]

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Peter Ferrara’s Too-Nice Attack on Phony Washington Budget Deals

Peter Ferrara’s Too-Nice Attack on Phony Washington Budget Deals

Posted on July 30, 2010

Writing in the Wall Street Journal, Peter Ferrara of the Institute for Policy Innovation explains that Washington budget deals don’t work because politicians never follow through on promised spending cuts. This is a very relevant argument since Obama’s so-called Deficit Reduction Commission supposedly is considering a deal featuring $3 of spending cuts for every $1 […]

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The U.K. Version of Meet the New Boss, Same as the Old Boss

The U.K. Version of Meet the New Boss, Same as the Old Boss

Posted on June 23, 2010

As the chart below indicates, the United Kingdom has a large budget deficit solely because government spending has increased to record levels (OECD data). Unfortunately, the new Tory-Liberal coalition government has decided that taxpayers should be punished for all the over-spending that occurred when the Labor government was in charge. The Telegraph reports that the […]

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My Big Fat Greek Budget.

My Big Fat Greek Budget.

Posted on March 29, 2010

Since we’re already depressed by the enactment of Obamacare, we may as well wallow in misery by looking at some long-term budget numbers. The chart below, which is based on the Congressional Budget Office’s long-run estimates, shows that federal government spending will climb to 45 percent of GDP if we believe CBO’s more optimistic “baseline” estimate. […]

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