CRS: Permanently Extending Bush Tax Cuts to Cost $5 Trillion

This guy has a point...In a report released last week, the Congressional Research Service (CRS) revised the total cost of permanently extending all of the Bush tax cuts to $5.048 trillion over the next ten years. The revised amount, which is significantly higher than the $2.8 trillion figure CRS reported in September, takes into account the cost of servicing the debt due to lost revenue and indexing the alternative minimum tax (AMT) to inflation.*

read in full

Tell the Government to Say Cheese

Attempts to prevent citizens from recording the government have been rebuked in two recent cases.

read in full

CBO Monthly Budget Review, September 2010

Congressional Budget Office

Last Thursday, the Congressional Budget Office (CBO) released their last Monthly Budget Review (MBR) for the fiscal year. So how much debt did Uncle Sam rack up in 2010, you ask. Well, just under $1.3 trillion. This figure is $50 billion less than what CBO projected just last month and is "$125 billion less than the shortfall recorded in 2009." Everyone say, "Hooray" for deficit reduction.

read in full

On Transparent Stewardship of Natural Resources, U.S. is #11

A new study of natural resource transparency in 41 countries finds the U.S. among the top countries but not leading the pack. Brazil and Norway scored the highest marks, while countries such as Russia, Colombia, and Kazakhstan also ranked higher than the U.S.

read in full

Fiscal Commission to Produce Sensible Solutions to Debt/Deficit Dilemma Soon

Rainbows and Unicorns to Appear Shortly After

No, I'm just kidding. In fact, according to a Congressional Quarterly (subscription) article published yesterday, it looks like expected Republican congressional electoral gains this fall may completely gridlock what are already complicated negotiations within the commission over addressing our nation's problematic mid- to long-term fiscal issues.

read in full

More Information Sought on Cell Phone Industry Influence on FCC

In an article in the current edition of OMB Watch's Watcher, we discuss serious concerns about the extent of the wireless communications industry's influence over regulators. Following San Francisco's move to inform the public about potentially dangerous exposures to cell phone radiation, the Federal Communications Commission (FCC) – the agency in charge of regulating cell phone radiation levels – changed its website. The FCC deleted a suggestion to consumers to seek phones with lower radiation levels (known as SAR values), and added a lot of industry-speak downplaying the legitimate concerns raised by public interest groups. Now the Environmental Working Group (EWG) is demanding to know why the FCC made the changes and what role the wireless trade association might have played.

read in full

Congress “Fixes” SEC Secrecy

Following last week’s hearing in the House Financial Services Committee and action by the Senate Judiciary Committee on the broad and unnecessary Freedom of Information Act exemption for the Securities and Exchange Commission, Congress moved quickly to approve legislation that will fix the controversial provisions.

read in full

Curtailing Deficits without Touching Defense Spending is Silly

'Did you call me silly?'

In their newly released, talking-point-heavy "Pledge to America," House Republicans say they are offering "a plan to stop out-of-control spending and reduce the size of government" if voters put them back in charge in November. One area of government the plan doesn't call for reducing, however, is the Department of Defense (DOD). In fact, the new conservative governing proposal explicitly exempts the DOD budget from their proposed cuts to bring federal spending back to "pre-stimulus, pre-bailout levels."

read in full

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.

read in full

Congress Looks to Reign in SECrecy

Yesterday, both the Senate and House addressed Section 929I of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which granted the Security Exchange Commission (SEC) a very broad exemption to the Freedom of Information Act (FOIA). The Senate Judiciary Committee approved legislation that would limit the exemption. Almost simultaneously, the House Financial Services Committee held a hearing to explore the issue of the need for such a broad exemption.

read in full

Pages

Subscribe to The Fine Print: blog posts from Center for Effective Government