Super Committee "Failure" Is Anything But

On Monday evening (Nov. 21), the Super Committee formally announced that it was unable to reach an agreement for reducing the federal deficit by $1.2 trillion. While others are decrying the lack of agreement by the Super Committee and calling it a failure, we at OMB Watch believe that each of us should, instead, be relieved.

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GOP 'Pledge' Is Simply a Way of Shutting Down a Large Part of Government

As Yogi Berra's redundant saying goes, "It's déjà vu all over again." Back in 1994, congressional Republicans unveiled what they called the "Contract with America." The Contract was chock-full of policy proposals intended to shrink the size of government, kneecap agencies' ability to protect the public, and decrease the burden on taxpayers, especially the rich.

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Deficit Commission Line-Up Completed

When House Speaker Nancy Pelosi (D-CA) named her picks to sit on the president's National Commission on Fiscal Responsibility and Reform (or, just "the Deficit Commission" or "the Debt Commission"), she rounded out the 18-member slate.

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CBO Jumps to 20-Year Budget Window for Health Care

There is an interesting article ($) in CQ this morning about a possible change in forecasting techniques used by the Congressional Budget Office (CBO). Sen. Kent Conrad (D-ND), Chairman of the Senate Budget Committee, announced on Monday that CBO would likely provide cost estimates for the forthcoming Senate health care reform bill beyond the standard 10-year budget window - extending that window to 20 years.

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Experts Foresee Disturbing Trend out of Recent Census Data

Brookings Institution

With yesterday's release of the Census Bureau's report on income, poverty, and health insurance coverage for Americans in 2008, most economists and analysts agree that while the numbers are bad, next year's numbers will be worse and that trend could continue for a number of years.

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IRS Expanding National Research Program

tax papers

The IRS is expanding its National Research Program to investigate tax compliance related to employment taxes, according to a report ($) in Bureau of National Affairs this morning. The National Research Program is an intensive study and data collection project that helps the IRS to properly screen and target non-compliant tax returns for auditing.

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The CBO's Semi-Regular Social Security Update

The Congressional Budget Office (CBO) released its latest figures on the long-term finances of Social Security. 

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CBPP: States May Soon Resemble Bartertown in Mel Gibson Sci-Fi Classic

Center on Budget and Policy Priorities

Here's a shock: state budgets are not doing so good. The Center on Budget and Policy Priorities (CBPP) released a report today cataloging the gory details.

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UPDATE: House Passes Statutory PAYGO Legislation 265-166

CongressJust a quick update on the House's effort to reinstate Pay-As-You-Go (PAYGO) legislation. The full House passed H.R. 2920 this afternoon by a 265-166 vote. 24 Republicans joined with 241 Democrats to pass the bill by a pretty wide margin. Only 13 Democrats opposed the legislation.

 

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A Letter to Congress: PAYGO Legislation an Encouraging Start

This afternoon, OMB Watch submitted a letter to all members of the House of Representatives, encouraging them to support the "Statutory Pay-As-You-Go Act of 2009" ("PAYGO").  Introduced by House Majority Leader, Rep. Steny Hoyer (D-MD), the bill is a crucial first step towards returning to a culture of responsible spending. 

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