The time has come for the 25-year-old NAFTA to receive a much-needed update.
CBO Report Shows Trillion-Dollar Deficits and Much Worse Around the Corner
An already grim fiscal outlook grew worse in the Congressional Budget Office’s (CBO) update to its Budget and Economic Outlook for 2019 to 2029. CBO estimates a 2019 deficit of $960 billion, a $64 billion increase from its May projection. Trillion-dollar deficits will resume in 2020, two years earlier than expected, and will reach all-time […]
The Multiemployer Pensions Crisis Needs Reform, Not a Bailout
A billion-dollar taxpayer bailout of failing multiemployer pensions is on the horizon. Ten years ago, subprime mortgages went from being a little-known form of lending to the precipitating factor in the international banking crisis that led to the Great Recession. Multiemployer pensions, which have been allowed to systematically underfund plans and make unrealistic assumptions on […]
California’s Budget Projects a $22 Billion Surplus, Yet Wants Billions More in New Taxes
After 32 consecutive victories on the TV game show “Jeopardy,” James Holzhauer, a professional sports gambler from Las Vegas, Nevada, saw his incredible winning streak come to an end. Finishing with $2,462,216 in total prize money, James fell just $58,484 short of the all-time record set by Ken Jennings in 2004 (it took Jennings 74 […]
USVI Should Avoid Repeating Municipal Broadband Failures
A U.S. Virgin Islands’ (USVI) public utility company is positioning itself to create a municipal broadband network that could come at the expense of hundreds of millions of duplicative taxpayer dollars under the guise of recovery from hurricanes Irma and Maria. The Virgin Islands Next Generation Network (viNGN) is a public corporation and the sister […]
Iowa’s Promising Sports Betting Legislation Signed Into Law
On the one-year anniversary of the Supreme Court decision to legalize sports betting, the Hawkeye State has delivered another exciting reason to celebrate. Yesterday, Gov. Kim Reynolds (R-Iowa) signed SF 617 into law, making Iowa the ninth state to fully legalize sports gambling. In comparison to other proposals weighed by the legislature, this law provides […]
RSC Budget Provides Only Clear Path Toward Fiscal Responsibility
The national debt stands at more than $22 trillion, with trillion-dollar deficits right around the corner. Entitlement spending continues to rise and is projected to make up 60 percent of spending for Fiscal Year (FY) 2020. Social Security will exceed its income in 2020 for the first time since 1982 and Medicare is set to […]
The Golden “Nanny” State Wants $6.2 Billion in New Taxes
California state legislators have a solution to fulfill Gov. Gavin Newsom’s bloated $209 billion budget: tax anything and everything under the sun. Taking more money from taxpayers should not be a surprise from the state with the highest income tax in the country. Just last year, California lawmakers proposed to reverse the positive economic gains […]
Senate Vote Reveals Democrats’ True Intentions Behind Green New Deal
It is no secret that the Green New Deal is a terrible deal for taxpayers, as even Senate Democrats, despite their public support, refused to match their votes with their words. On March 26, 2019, the Senate voted down the motion to proceed on S. J. Res. 8, better known as the Green New Deal […]
CBO Budget Outlook Projects Debt Disaster is on the Horizon
On January 28, 2019, the Congressional Budget Office (CBO) released its annual Budget and Economic Outlook for 2019 to 2029 and unsurprisingly, the United States’ fiscal outlook remains dreadful. CBO estimates a 2019 deficit of $897 billion, a $118 billion increase from 2018. Trillion-dollar deficits will resume in 2022 and reach all-time highs by the end of […]