Month: December 2005

December 22, 2005 02:26 PM | Permalink |

A new report from the Congressional Budget Office paints a bleak picture of the nation’s fiscal health. The CBO’s biennial Long-Term Budget Outlook report, released on December 15, shows that under any realistic forecast of federal spending and tax collection trends, the nation faces budget deficits—and growing federal debt—as far as the eye can see.

Read the Full Report

Want even more CTJ? Check us out on Twitter, Facebook, RSS, and Youtube!

December 6, 2005 01:00 PM | Permalink |

Passed by the Senate and pending in the House are two “tax reconciliation” bills, which, if enacted, will represent the fifth straight year of tax reductions under President Bush. The Senate plan passed the Senate by a 64–33 vote.1 The pending House plan is backed by President Bush and the House Republican leadership. The two bills differ markedly.

Read the Full Report

Want even more CTJ? Check us out on Twitter, Facebook, RSS, and Youtube!