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Federal Deficit

This tag is associated with 4 posts

Is A Deadlocked Election Really Possible?

via Reuters, The Huffington Post As polls point to a close U.S. presidential election, the country faces the possibility of political chaos – from a repeat of the disputed 2000 election to the remote possibility of a new administration with a president from one party and a vice president from the other. The most likely … Continue reading

Neither Obama Or Romney Show Much Interest In Pre-Election Day Deal On Sequestration

via Jeremy Herb, The Hill’s Ballot Box The tight presidential race has all but ensured that Congress will not pass a bill before the election that would halt sequestration cuts to the military. President Obama and presumptive GOP nominee Mitt Romney have traded barbs over sequestration as the issue has amplified on the campaign trail … 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

How Legalizing Marijuana Could Reduce The Federal Deficit

via Lucia Graves, The Huffington Post The federal government could save as much $13.7 billion annually if it were to legalize marijuana, according to a paper by Harvard economist Jeffrey Miron. More than half of the savings, $7.7 billion, would come from not having to enforce the current prohibitions against the drug, while an additional … Continue reading

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