Congressional Budget Office (CBO)

3:41pm

Thu November 8, 2012
The Two-Way

CBO Warns Again: Ignoring Fiscal Cliff Could Result In Recession

Originally published on Thu November 8, 2012 4:57 pm

The so-called fiscal cliff is a double-edged sword, the nonpartisan Congressional Budget Office says in a new report issued today.

Why? Ignoring the huge tax increases and spending cuts set to take effect at the beginning of the year "will probably cause the economy to fall back into a recession."

But: "They will make the economy stronger later in the decade and beyond."

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2:29pm

Thu September 20, 2012
Shots - Health Blog

Challenges To Health Law Just Keep Coming

Oklahoma Attorney General Scott Pruitt, seen at a news conference in early 2011 before he took office, promised to file a lawsuit soon after he was sworn in. He did.
Sue Ogrocki AP

The Affordable Care Act survived a near-death experience at the Supreme Court earlier this year. And the overhaul law's fate again hangs in the balance come Election Day. Mitt Romney has vowed to work for its repeal, if he's elected president.

Meanwhile, the law continues to take its hits.

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10:59am

Tue September 11, 2012
The Two-Way

Moody's Warns Of Downgrade If Congress Doesn't Move On Fiscal Cliff

Speaker of the House John Boehner says he has little of hope of reaching a resolution on the so-called "fiscal cliff."
J. Scott Applewhite AP

8:16am

Wed August 22, 2012
The Two-Way

Deficit To Total $1.1 Trillion, Unemployment To Stay Above 8 Percent, CBO Says

Originally published on Wed August 22, 2012 8:33 am

Expect to hear about this from the campaign of Republican presidential contender Mitt Romney as he continues to take aim at President Obama's record on the budget and the economy:

The Congressional Budget Office reports this morning that "for fiscal year 2012 (which ends on September 30), the federal budget deficit will total $1.1 trillion ... marking the fourth year in a row with a deficit of more than $1 trillion."

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1:04am

Tue May 29, 2012
It's All Politics

Dire Predictions Amid Another Looming Fiscal Battle

Originally published on Tue May 29, 2012 9:27 am

There are growing warnings on Capitol Hill that the nation could be rolling toward an end-of-the-year fiscal train wreck.

"The looming tax hike will be absolutely devastating," Senate Minority Leader Mitch McConnell, R-Ky., said.

"You can call this a fiscal cliff. You can call it 'Taxmageddon' as others have done. Whatever you call it, it will be a disaster for the middle class," Sen. Orrin Hatch, R-Utah, added.

And Sen. Ben Nelson, D-Neb., said: "It's a tsunami; there's no question about it, and it's coming."

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