Gov’t report: Budget deficit to rise to $544B this year

A government report released Tuesday estimates that this year’s budget deficit will rise to $544 billion, an increase over prior estimates that can be attributed largely to tax cuts and spending increases passed by Congress last month. The deficit and debt picture over the long-term has also worsened considerably.

The estimate from the Congressional Budget Office also sees the economy growing at a slower pace this year than it predicted just a few months ago. It projects the economic growth will slow to 2.7 percent this year; it foresaw 3.0 percent growth in 2016 in last summer’s prediction.

http://www.bostonherald.com/news/us_politics/2016/01/govt_report_budget_deficit_to_rise_to_544b_this_year

Tax and Spending Deal: A Lose-Lose for the American People

With a deadline looming, congressional leaders unveiled “sweeping” tax and spending legislation late last night. The result makes one wonder whether congressional Republicans negotiate directly with President Obama on these deals, or whether they just send corporate lobbyists‎ to do so, thereby cutting out the middle man.

The Wall Street Journal reports, “The agreement…is expected to suspend for two years a tax on medical devices and delay for two years the scheduled 2018 start of the so-called Cadillac tax on high-cost employer health plans.” Each of these “fixes” to Obamacare will make deep-pocketed groups that much less interested in full repeal in 2017, while the suspension of the Cadillac tax will also make it that much harder to pass the conservative alternative needed to make full repeal a reality. The delay of that tax is also a big win for labor unions.

http://www.weeklystandard.com/tax-and-spending-deal-a-lose-lose-for-the-american-people/article/2000247

SPENDING BILL MAKES IT HARDER TO REPEAL OBAMACARE

The result makes one wonder whether congressional Republicans negotiate directly with President Obama on these deals, or whether they just send corporate lobbyists‎ to do so, thereby cutting out the middle man.

The Wall Street Journal reports, “The agreement…is expected to suspend for two years a tax on medical devices and delay for two years the scheduled 2018 start of the so-called Cadillac tax on high-cost employer health plans.” Each of these “fixes” to Obamacare will make deep-pocketed groups that much less interested in full repeal in 2017, while the suspension of the Cadillac tax will also make it that much harder to pass the conservative alternative needed to make full repeal a reality. The delay of that tax is also a big win for labor unions.

Spending Bill Makes It Harder to Repeal Obamacare

Budget deal increases federal deficit by hundreds of billions of dollars

Having reached a deal on a nearly $2 trillion deal to keep the government open, President Obama and congressional leaders tried to build support Wednesday for the massive bill, which hikes spending across government, thrilling Democrats, and extends a host of special interest tax breaks, exciting Republicans.

Racehorses and NASCAR racetracks, school teachers and college students, green energy companies and the big oil giants all made out well in the deal, reached overnight after weeks of negotiations. The chief loser, meanwhile, is the federal deficit, which grows by hundreds of billions of dollars under the terms of the tax deal.

http://www.washingtontimes.com/news/2015/dec/16/budget-deal-increases-federal-deficit-by-hundreds-/

BUDGET DEAL INCREASES FEDERAL DEFICIT BY HUNDREDS OF BILLIONS OF DOLLARS

Racehorses and NASCAR racetracks, school teachers and college students, green energy companies and the big oil giants all made out well in the deal, reached overnight after weeks of negotiations. The chief loser, meanwhile, is the federal deficit, which grows by hundreds of billions of dollars under the terms of the tax deal.

Mr. Obama gloated over the agreement, saying he got nearly everything he wanted and gave up very little, only ceding ground in allowing two Obamacare taxes to be postponed and agreeing to lift the decades-old ban on exporting crude oil.

Budget deal increases federal deficit by hundreds of billions of dollars

Paul Ryan Will Support Boehner-Obama Budget Deal

 Rep. Paul Ryan, the leading candidate to be the next House speaker, announced today he will support the budget deal negotiated by Speaker John Boehner and President Barack Obama.

Ryan’s announcement comes a day after he criticized Boehner and Obama’s backroom dealmaking, which led to the spending package. In addition to raising the $18.1 trillion debt limit, the Boehner-Obama plan boosts government spending by $80 billion above the caps agreed to in 2011.

“What I’ve heard from members over the last two weeks is a desire to wipe the slate clean, put in place a process that builds trust, and start focusing on big ideas,” Ryan said in a statement, adding:

http://dailysignal.com/2015/10/28/paul-ryan-will-support-boehner-obama-budget-deal/

PAUL RYAN WILL SUPPORT BOEHNER-OBAMA BUDGET DEAL

 http://www.infowars.com/paul-ryan-will-support-boehner-obama-budget-deal/