Warm Southern Breeze

"… there is no such thing as nothing."

Posts Tagged ‘CBO’

Today Mitt Romney spoke out of the _?_ side of his mouth, and said:

Posted by Warm Southern Breeze on Tuesday, August 14, 2012

“And you know what he did with it? He’s used it to pay for Obamacare, a risky, unproven, federal takeover of health care.”Mitt Romney

Government estimates say that more than 6,000 jobs statewide and 20 percent of Iowa‘s electricity needs come from wind power, and the state’s senior GOP leaders all support renewing an extension of a wind tax credit that Romney opposes.

Romney’s campaign did not respond to repeated quests for his position on the other portions of the bill, which includes items such as a tax break for developers of NASCAR facilities and purchasers of electric motorcycles.


http://www.businessweek.com/ap/2012-08-14/gop-ticket-faces-growing-pains-as-dems-attack

FACT: The Congressional Budget Office (CBO) has determined that the Patient Protection and Affordable Care Act is fully paid for, Read the rest of this entry »

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A: 1.4% Q: What is the annualized spending growth rate under Obama & lowest rate of any president since Reagan?

Posted by Warm Southern Breeze on Wednesday, June 13, 2012

Who’s the Biggest Spender? Obama or Bush?

By BRUCE BARTLETT, The Fiscal Times June 1, 2012

Lately, there has been some controversy about the growth of spending under Barack Obama. It began on May 22 with a column by Rex Nutting of MarketWatch, which concluded that the rate of growth of federal spending under Obama has actually been trivial compared to the last 4 presidents.

According to Nutting’s calculations, spending has grown only 1.4 percent per year under Obama – one-fifth the rate under Ronald Reagan and George W. Bush. Following is a chart accompanying the article.

There has been a considerable amount of debate about Nutting’s calculations, which fly in the face of Republican dogma. Much involves technical accounting issues, such as how to allocate spending during fiscal year 2009. This is important because fiscal year 2009 began on September 1, 2008 during Bush’s administration, reflecting his priorities. By the time Obama took office on January 20, 2009 the fiscal year was almost half over; he didn’t submit his first budget until February 26, 2009 and the fiscal year 2010 budget is really the first one that reflected his priorities.

Nutting assigned the bulk of fiscal year 2009 spending to Bush, an assumption that other analysts have questioned. Glenn Kessler of the Washington Post found that Nutting overstated his argument in various ways. But the PoliFact site of the Tampa Bay Times concluded that the Nutting column was essentially correct.

Aside from the political implications, the reason this debate is important is because there is a tendency for people to conflate spending, deficits and debt, as well as confusing rates of change with absolute levels.

The difference between Read the rest of this entry »

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Congressional Budget Office: Food Assistance Rate to Grow

Posted by Warm Southern Breeze on Thursday, April 19, 2012

While not totally bright, the CBO report is not totally grim, either.

Here’s why.

The method by which unemployment figures are calculated does NOT take into account people whom have STOPPED looking for work. Many – if not most – of those people would accept work, were suitable work offered to them. They have stopped looking for work for many reasons, not the least of which is that they have become despondent from their unfruitful job search.

Now, when the unemployment rate begins to rise again, we will actually see an INCREASE in the rate.

Why?

Because many of the people whom had previously stopped looking for work, will again resume their job search. Thus, they will be counted among the unemployed, whereas previously, they were not counted among the unemployed.

How does the methodology of counting the unemployed relate to this report about rising participation in the Supplemental Nutrition Assistance Program?

In many cases, the rates of unemployment, in conjunction with the expiration of unemployment compensation benefits, correlates strongly with want and poverty.

Thus, if the CBO says the rates will grow, we can make a reasonable estimate that the strength of economic recovery will have taken hold, and be in full swing.

As an observation aside, examine the larger infographic, and look at the states with the highest rates of SNAP utilization. Most of them are in the Southeast: Alabama, Arkansas, Georgia, Kentucky, Louisiana, Mississippi, South Carolina, Tennessee, West Virginia. Those states were formerly Democratic strongholds, and have now swung strongly toward Republican politics. Three other states – Maine, Michigan, and Oregon – also have SNAP utilization rates above 18% of their population.

What would happen politically if Republicans were allowed to eliminate the SNAP program?

Food Stamp Rolls to Grow Through 2014, CBO Says

  • April 19, 2012, 1:58 PM ET

The Congressional Budget Office said Thursday that 45 million people in 2011 received Supplemental Nutrition Assistance Program benefits, a 70% increase from 2007. It  said the number of people receiving the benefits, commonly known as food stamps, would continue growing until 2014.

Click for larger CBO infographic.

SNAP infographic - Click for much LARGER image.

Spending for the program, not including administrative costs, rose to Read the rest of this entry »

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American Income Disparity and the ideal of Equality

Posted by Warm Southern Breeze on Sunday, October 30, 2011

The report by the Congressional Budget Office  is based upon data provided by the Internal Revenue Service and the Census Bureau, and was requested several years ago. The official report may be downloaded from the CBO via the link provided in the story in the first sentence of the first paragraph in the words “new report.”

It is my opinion that Republicans – which party has been hijacked by the radical element commonly known as the “TEA Party” – are Hell-bent on destroying this nation by eliminating – bit by bit, piece by piece – every vestige of rule, regulation and protective service that benefits the American people.

Their ideology is “tear down,” rather than “repair, rebuild.” It’s like tearing down the house just to replace the toilet.

Their political philosophy is disguised as “small government, less regulation” which on it’s face, sounds nice – which is almost like asking “if you could satisfy your hunger by eating Read the rest of this entry »

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