by Jane Richey | Nov 27, 2012 | Fiscal Responsibility, Politics
Washington is in a dither over the fiscal cliff. The cliff consists of roughly $500 billion in tax increases that will occur on January 1, 2013 as the Bush-era tax rates expire, along with almost $100 billion in automatic cuts in government spending resulting from the...
by Jane Richey | Nov 1, 2012 | Fiscal Responsibility, Politics
More than 30 million households could be hit with the Alternative Minimum Tax (AMT) if Congress doesn’t take action after the election, adding another pressure point to talks on the “fiscal cliff.” Democrats and Republicans agree that Tuesday’s election will go a long...
by Jane Richey | Mar 16, 2012 | Fiscal Responsibility
President Obama’s 2013 budget would add $3.5 trillion to annual deficits through 2022, according to a new estimate from the Congressional Budget Office (CBO). It also would raise the deficit next year by $365 billion, according to the nonpartisan office. The CBO...