Relevant and even prescient commentary on news, politics and the economy.

CBO on Health Care: July 14th to 20th & MSM Distortions

by Bruce Webb Last week was kind of a busy time for CBO scoring with the result that some stories got over-reported and others not reported at all. So lets back up a little. Tuesday July 14. CBO scores the coverage costs of HR3200, the House Tri-Committee Bill. The CBO Director’s Blog puts this announcement […]

Tri-Committee Health Care Bill Deficit Neutral

by Bruce Webb Press release from the House Ways and Means Committee dated Saturday July 18th. CBO Scores Confirms Deficit Neutrality of Health Reform Bill Washington, D.C. — The Congressional Budget Office (CBO) released estimates this evening confirming for the first time that H.R. 3200, America’s Affordable Health Choices Act, is deficit neutral over the […]

New (7-17) CBO scoring of the Tri-Committee Bill

by Bruce Webb h/t to dKos poster Pronin2. New scoring released Friday night shows the ten-year net increase to the deficit from the House Tri-Committee bill down to $239 billion with an actual five year surplus of $44 billion. I guess we will have to see whether the AP and the Republicans cling to […]

Kennedy-Dodd HELP Bill with CBO Scoring

by Bruce Webb I haven’t gone through the text or the numbers, make of this what you will. But at least we can start with some actual numbers attached.McClatchy: Kennedy-Dodd unveil cheaper health care bill Bill Text: SHORTTITLE.—This Act may be cited as the ‘‘Affordable Health Choices Act” CBO ScoreExcerpts and updates may be added […]

CBO: Long Term Budget Outlook Part 3-Yes it is the Medicare/Medicaid

by Bruce Webb In comments on the last post MG was challenging 2Slugs contention that the real issue was Medicare, while BuffPilot was accusing me of ignoring Obama spending. Well I am on my way out the door and will let the CBO do the talking for me:That near term temporary light blue peak? Obama […]

More from CBO’s ‘Long Term Budget Outlook’

by Bruce Webb In a previous post I highlighted the chapter of CBO’s Long-Term Budget Outlook that pertained to Social Security. But the Report goes beyond that and in fact focuses on two different possible scenarios outlined in the following Table:The shorthand way of defining ‘extended baseline’ is ‘Bush tax cuts expire on schedule’ while […]

CBO: Long Term Budget Outlook

by Bruce Webb Congressional Budget Office Long Term Budget OutlookDiscuss. (Social Security is chapter 3) (Update) Not a lot of meat here. CBO offers two outlooks for Social Security, one which projects a payroll gap of 1.33% (extended baseline) and another 1.54%. (alternative fiscal scenario). The former assumes that the 2001 and 2003 tax cuts […]

CBO Presentation to the Social Security Advisory Board

by Bruce Webb These figures show graphically what the recession has done to Social Security’s medium term outlook. Answer? Not much.. A near term dip in income is never fully recovered in dollar terms. A DI ‘Primary Surplus’ heading for zero got there a little faster. Does any of this add up to rushing to […]

Game, Set, and Match

DeLong body-slams Mankiw. Especially like this: Mankiw: The CEA website should also post a notice about CEA internships, as we had during my tenure as CEA chair, so students can find out how to apply. DeLong: “Let me, for one, state that I am very glad that Christie Romer has been too busy since her […]

CBO Director Testifies on Economic Impact of HR1

by Bruce Webb Movie Guy further requested some discussion on CBO Director Elmendorf’s testimony to Congress from yesterday. The whole text is here Elmendorf testifies before House Budget Comm I didn’t have time to thouroughly review the whole thing but these tables were interesting enough to put up for comment.