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Congressional Budget Office

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End-Of-Term Report: Obama’s Record Is Better Than The Woes Of America’s Economy Suggests

via The Economist Not since 1933 had an American president taken the oath of office in an economic climate as grim as it was when Barack Obama put his left hand on the Bible in January 2009. The banking system was near collapse, two big car manufacturers were sliding towards bankruptcy; and employment, the housing … Continue reading

U.S. Congressional Budget Office Warns Of Worse Economic Wreckage From “Fiscal Cliff”

via David Lawder, Reuters Massive U.S. government spending cuts and tax hikes due next year will cause even worse economic damage than previously thought if Washington fails to come up with a solution, the Congressional Budget Office warned on Wednesday. Without action by Congress to avoid a “fiscal cliff,” Americans should expect a “significant recession” … Continue reading

Health Care Case Seems Likely To Go On In Court

via CBS News The Supreme Court finished Monday the first of three days of arguments on the fate of the Obama administration’s overhaul of the nation’s health care system. The justices appear unlikely to allow an obscure tax law to derail the case. A decision is expected by late June, in the midst of a … Continue reading

A Tax Others Embrace, U.S. Opposes

President Obama’s proposal for a new tax on millionaires echoes a call in many countries struggling with budget deficits and overwhelming debts to make the wealthy pay more. Britain and France have imposed new taxes on their highest earners — and Italy, Spain, Greece and Japan are considering similar moves, despite some protests. Whether the … Continue reading

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