Blog: The Fine Print / Open, Accountable Government

Bush's Budget Plan Includes Hidden Cuts, Document Reveals

Feb 9, 2006 by Matthew Madia

An eye-opening article in today's Washington Post says that internal White House documents indicate that meeting the president's goal of cutting the deficit in half will involve a significant amount of cutting to domestic programs -- even to those supposedly "favored" by President Bush.

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Bush's Social Security Plan Rears Its Ugly Head

Feb 8, 2006 by Adam Hughes*

Despite providing the State of the Union address with its only truly funny section, President Bush's Social Security overhaul plan was barely mentioned during the speech. Bush proposed instead the classic "bipartisan commission" to put off real debate and most likely push the problem to someone else beyond his presidency. Yet the much publicized and thoroughly failed policies of Social Security privitization have not disappeared. In fact, they have been included in the FY 2007 budget release.

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U.S. Government in Debt up to its Eyeballs

Feb 8, 2006 by Matthew Madia

President Bush's FY 2007 budget released on Monday allocated $441.3 billion for interest payments on the debt during fiscal year 2007. That's a huge 39 percent increase over the $318 billion spent four years ago and a 25 percent increase from the $352 billion spent last year. The president's allocation is a 11 percent increase over last year's request.

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You're Doing a Heckuva Job Georgie: Debunking the State of the Union

Feb 2, 2006 by Guest Blogger

OMB Watch has written an analysis debunking some of the statements made by President Bush in the 2006 State of the Union address. Be sure to check it out.

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2006 State of the Union

Feb 1, 2006 by Guest Blogger

Last night President Bush delivered his annual State of the Union Address. Check back here later in the day for an analysis on the comments Bush made regarding taxes, the budget, and the economy last night.

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Bernake Confirmed as Chairman of the Federal Reserve

Jan 31, 2006 by Guest Blogger

The Senate confirmed Ben Bernake today as Chairman of the Federal Reserve. He replaces Alan Greenspan, who has stepped down after more than 18 years guiding the nation’s monetary policy. Bernake was confirmed by voice vote.

Washington Post: Federal Reserve Raises Interest Rate; Bernake Confirmed as Next Chairman

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Tax & Budget Talking Points; New Budget Blog

Jan 27, 2006 by Guest Blogger

The Fair Taxes for All Coalition has released new talking points on Congress' plan to cut the budget and pass new tax cuts. The talking points cover the new deficit projections, the possibility of extending capital gains and dividends cuts, and this year's new tax cuts.

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State-by-State Analysis of Income Inequality

Jan 26, 2006 by Guest Blogger

The Center on Budget and Policy Priorities and the Economic Policy Institute have released a study called "Pulling Apart: A State-by-State Analysis of Income Trends." The study examines income inequality and finds that the gap between the highest-income families and poor and middle-income families grew significantly between the early 1980s and the early 2000s. The study finds that during this time, the incomes of the bottom fifth of families grew more slowly than the incomes of the top fifth of families in 38 states.

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CBO Projects $337 Billion Deficit for 2006

Jan 26, 2006 by Matthew Madia

Today the Congressional Budget Office projected a $337 billion deficit for 2006. The increase over last year's $318 billion recorded deficit is largely attributed to hurricane costs and the introduction of the Medicare prescription drug benefit this month. $337 billion is far less than the Office of Management and Budget's estimate stating that the deficit will exceed $400 billion this year.

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White House Called Out on Manipulating Budget Forecasts

Jan 24, 2006 by Matthew Madia

Stan Collender, contributing editor of the National Journal, makes two excellent points calling out the White House for their faulty and ideological budget projections in his January 17 column Wolf! (subscription only).

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