Federal Debt and Deficit
The Game of Ping-Pong, or "The Economic Stimulus Package Debate"
Feb 28, 2002 by Guest Blogger
Less than two weeks ago, many observers -- including OMB Watch -- were predicting that an end, at least for the foreseeable future, had come for the debate on an economic stimulus package.
read in fullEstate Tax Repeal Sense of Senate Amendment Tacked onto Farm Bill
Feb 28, 2002 by Guest Blogger
Estate Tax Repeal's Impact on States
A recent report from the New Jersey Policy Perspective (NJPP) illustrates the havoc the 2001 tax cut's repeal of the estate tax is wreaking on the already strained New Jersey budget. The report offers a state-level solution to the problem created by the federal estate tax repeal process, which actually ends the states' ability to "pickup" a portion of the federal tax for themselves earlier than the federal government's estate tax ends. The NJPP website also provides links to the 3 newspapers that have thus far endorsed its proposal, as well as an op-ed piece that ran in the New York Times New Jersey edition.
An update on the efforts of Sen. Jon Kyl (R-AZ) to repeal the estate tax.
read in fullThe Bush Budget and Budget Process
Feb 28, 2002 by Guest Blogger
President Bush's budget proposes a number of budget process changes that he believes will allow budgeting to be accomplished in a more fiscally responsible manner.
read in fullWise Investments for a Strong Economy: OMB Watch Response to Summer 2001 Surplus Estimates
Feb 28, 2002 by Guest Blogger
There is nothing wrong with having a deficit. As OMB Watch has pointed out for years, the real concern is to make sure that the deficit is kept as a small percentage of the GDP. As long as the economy grows, a small deficit is not a problem. And wise investments will lead to a strong economy.
read in fullBudget News -- Jan. 1, 2000 -- Dec. 31, 2000
Feb 27, 2002 by Guest Blogger
The following are federal budget policy analyses and updates from OMB Watch issued during 2000.
read in fullTax Cuts VS. Everything Else
Feb 26, 2002 by Guest Blogger
We can either choose to pay now, or we will have to pay later -- preventing social ills is much cheaper in the long run. From a purely economic standpoint, many economists agree that a return to deficits is not a problem -- running a surplus would actually be more of problem -- and that this economic climate prescribes more government spending, not less.
read in fullEconomic Stimulus Proposals Resource Page
Feb 26, 2002 by Guest Blogger
The following are analyses, updates and action alerts from OMB Watch and other organizations on the Fall 2001 - Spring 2002 attempts to create an "economic stimulus package."
read in fullFIRST THINGS FIRST!--Before the Tax Cuts
Feb 15, 2002 by Guest Blogger
Are any efforts being made to at least postpone President Bush's phased in tax cuts given the events of September 11, 2001, the costs of the war effort, and the economic recession? Sen. Jan Schakowsky is one of the few in Congress who have publicly called for meeting other domestic needs before the tax cuts go into effect. She introduced legislation on October 2, 2001, to do just that.
read in fullDaschle's Speech, Fiscal Responsibility and Tax Cuts
Feb 14, 2002 by Guest Blogger
Senate Majority Leader outlined the country's urgent domestic and military priorities and compared the pre-tax cut possibilities for domestic investment with the current post-tax cut reality's "unnecessary fiscal bind," but he did not directly call for a delay in the tax cut as a solution to this fiscal conservative's dilemma.
read in fullMore Budget Deficit Estimates Released
Feb 14, 2002 by Guest Blogger
FY 2002 Appropriations Update Congress completed its work on the last 3 FY 2002 appropriations bills (Defense, Foreign Operations, and Labor-HHS-Education) on December 21 and the President is expected to sign all three of them and bring the appropriations season to an official completion. According to usbudget.com, the bills are being readied for the President's signature and he is expected to sign them on January 10, when the Continuing Resolution - passed on December 20 - expires. Though estimates by Democrats and Republicans of the size of the deficits differ, and will continue to grow substantially depending on the amount of additional homeland security and defense spending approved this year, both sides agree that the deficit will likely be at least $15 billion -- the Democrats are predicting it could be as large as $70 billion.
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