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One of the ways the Obama administration managed to get ObamaCare through Congress was by keeping the cost of the law under $1 trillion. This was accomplished through various budget gimmicks and backloading costs in years at the end of the original budget estimates. These deceptive tactics are how the administration managed to get a score from the Congressional Budget Office purporting that ObamaCare would reduce the deficit by $124 billion.
In addition to proposing an onslaught of spending increases and tax hikes in his sixth State of the Union address, President Barack Obama will, according to The New York Times, "effectively declare victory over the economic hard times that dominated his first six years in office and advocate using the nation’s healthier finances to tackle long-deferred issues like education and income inequality."
Just two days after facing an historic uprising within the ranks of his own House Republican Conference, Speaker John Boehner (R-OH) defended his four-year record as the lower chamber's presiding officer, telling reporters that he is "the most anti-establishment Speaker" in history.
Looking to stake some ground just weeks before the mid-term election, President Barack Obama, in a speech last week at Northwestern University, dismissed concerns about budget deficits, claiming that ObamaCare is keeping down healthcare costs.
Every year since college, my best friend Dan and I have submitted our best observations on a wide range of topics that reflect on the year that has just expired. We follow the well established template of The McLaughlin Group program.Here are my reflections on 2013:BIGGEST WINNER OF THE YEAR: I can't even think of one, as 2013 has seen so many failures that have hurt so many Americans. The only one I can think of is David Ortiz of the Red Sox, who emphatically reclaimed the City of Boston for Bostonians.
The Senate is set to vote on the fiscally irresponsible budget negotiated by Rep. Paul Ryan (R-WI) and Sen. Patty Murray (D-WA) soon. FreedomWorks has issued a key vote notice declaring that we will deduct the scores of any member of Congress who votes for it on our congressional scorecard. As you may imagine, this news hasn’t thrilled the Washington establishment.
This week, I decided to research the Farm Bill to write a little bit about some of the “reforms” House Republicans who support the bill are so proud of. The CBO estimates savings of $35 billion over the next ten years (vs. the current baseline). The CBO is also notorious for underestimating costs, and it looks like this time won’t be any different.
When Washington raised the debt ceiling this week, the Beltway media breathlessly reported that the fiscal crisis had ended. Lawyers danced in hallways, bureaucrats twerked on the Metro, congressional aides kissed strangers in the streets — the Tea Party has been defeated! It was like VJ day for wonks.