CBO Directors Gloomy about Health Care

CongressDaily AM($) picked up a meeting of three former CBO directors who aren't very optimistic about the nation's fiscal health. Pessimistic about Congress' willingness to address looming fiscal shortfalls in federal healthcare and Social Security programs, three former CBO directors said Tuesday the outlook is bleak for heading off the problems.

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Tax Extenders: a Hail Mary, then Time to Punt?

House-Senate negotiations on the oft-deferred tax extenders package broke down today. With adjournment for the year expected by week's end, prospects now look more likely for a lump of coal than a compromise. The sticking point: a provision to forestall a scheduled five percent cut in Medicare payments to physicians, scheduled to take effect in January. The provision would cost an estimated $10.8-12 billion over five years. Still, the Senate may float the provision, along with numerous trade measures -- "a Hail Mary pass" over to the house, in the words of one Senate GOP aid.

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From Earmark to Earful: the Iraq Study Group

This morning, we witnessed a remarkable moment in American history: a sitting President's policy castigated and condemned in person by members of a highly-respected bipartisan group -- including a former Supreme Court Justice, former Secretaries of State, and former Presidential Chiefs of Staff -- over military policy relating to one of the five or six major wars ever undertaken by this country. And to think, that group, the Iraq Study Group, was created by a tiny earmark inserted into a war supplemental bill by a rank-and-file Republican member of the House. As the New York Times put it:

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Watcher: December 5, 2006

Lame Duck Session Holds Little Hope for Appropriations Bills Alternative Minimum Tax Likely to be Large Issue in 2007

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Supplemental Scrutiny

The House Democratic caucus may have gotten our memo. Following a caucus meeting today, to-be-House Majority Leader Steny Hoyer announced that when President Bush sends up his "emergency" supplementary war funding request (expected arrival: next February; pricetag: as much as $160 billion):

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Frist Making Tracks: He Brakes for Tax Breaks

With the clock ticking before the sands run out on the 109th Congress and Democrats take the reins for the first time in 12 years, retiring Senate Majority Leader Bill Frist is working feverishly to assure passage of the set of two-year tax break extensions (known as the extenders." He is working to pass a clean version of the popular package, unencumbered by Christmas tree ornaments. He is working to pass a version with a provision delaying implementation of cuts in Medicare payments to physicians. "I've got both tracks working," he said yesterday.

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Now Playin' -- I Hear Yer Payin'

On Dec. 1, National Public Radio's Morning Edition ran a short segment by John Ydstie on the Alternative Minimum Tax (AMT), entitled "Democrats Promote Relief from the Alternative Minimum Tax." 3.5 million taxpayers had to file income tax returns under the AMT in 2006. Unless addressed by Congress, this number will increase to 23.4 million in 2007, as we have noted. The segment indicates that the average AMT filer must pay $3,000 more in taxes each year than under the regular system. Meanwhile, the 10-year cost of ATM repeal is estimated by CBPP to be around $1.2 trillion.

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CBPP: Hardship Higher Among Black and Latino Families

The Center on Budget and Policy Priorities (CBPP) has written up an analysis of the Census Bureau's survey of material hardship from 2003. Among the more startling findings:

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Not a Happy Anniversary

ThinkProgress notes that, as of Saturday, the current minimum wage has gone the longest without an increase since its inception in 1938.

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Efforts to Undermine Contract Oversight at GSA

The Washington Post had a truly appalling front page article over the weekend on efforts by the administrator of the General Services Administration to undermine oversight and investigation into contracts by the agency's Inspector General (IG).

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