A Government Rollback

It is no secret that, after contributing to the deficit by huge tax cuts, a primary focus of this Administration now is decreasing the deficit by cutting spending, while continuing to reduce revenue by way of tax cuts. This will require massive cuts and eliminations of programs and services. It augurs a historically significant rollback in federal spending that if unchecked will fulfill conservative promises to reduce government to the barest of minimums.

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Budget Process in the Service of Tax Cuts

It is important to remember the magnitude of the federal budget process on the outcome of community results. While budget process issues are often arcane and sometimes difficult to determine the affects on results, in the case of several of the president’s proposals, the purpose is very clear—to make tax cuts easier to pass and expansion of government services more difficult.

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Tax Freedom or Telecommunications Windfall?

There is considerable confusion about the debate on Internet taxes. One issue is whether items sold over the Internet should be taxed. Another issue is whether there should be a tax on access to the Internet; similar to the tax we pay for use of telephones. This second issue – charges a user pays to an Internet Service Provider to connect to the Internet, as well as taxes that would discriminatorily apply only to Internet technology and use – is now being debated in Congress.

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2005 Federal Budget Continues Fiscal Decline

This Tax and Budget Staff Note examines the impact of the President’s budget on federal revenue and on the longer-term fiscal situation. The final section offers some of the implications of the recent fiscal decline. Download full report (.pdf)

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Economy and Jobs Watch: CBO Projecting Large Deficits

The Congressional Budget Office (CBO) today released their baseline budget estimates for 2005-2014. The analysis shows that in 2004 deficits will likely reach $477 billion - which is 4.2% of GDP - and that deficits will continue over the next decade, reaching a cumulative $1.9 trillion baseline over the next 10 years.

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Economy and Jobs Watch: Lowering the Deficit Bar

According to the president's State of the Union address, the administration claims it will "cut the deficit in half over the next five years."

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And Onward to the Budget Battles Ahead

President Bush's FY 2005 budget will be released on Monday, Feb. 2 with the promise of a difficult budget process ahead.

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Economy and Jobs Watch: Long-term Budget Choices

Several new reports have pointed to the weakness of the long-run U.S. fiscal situation. A wide range of observers -- from independent analysts to conservative think-tanks, from international aid organizations to congressional analysts, and even from the administration itself -- are all pointing to the fact that current tax and budget policy is not sustainable. (See links below).

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Economy and Jobs Watch: Unemployment Down, No New Jobs

With a strong quarter of economic growth in the July-September period, many observers were expecting to see employment strengthen in the last part of 2003. However, as recent economic data shows, the labor market remains very weak, as employment was “flat” last month.

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Needs UP, Services DOWN

Today, more Americans are looking to the government for help, yet the budgets of government-funded social service programs are dwindling.

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