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Republicans Cave on Tax Increases

From the Heritage Foundation: When President Obama put forth his first offer on the fiscal cliff, House Speaker John Boehner (R-OH) said, “You can’t be serious.” We could say the same thing to the Speaker after his counteroffer yesterday. In a letter signed by House...

Prepare for the Tantrums

The real problem is that the “government spending” component of the GDP exceeds government revenues by about a trillion dollars.  That’s every year.  This means that our GDP is artificially inflated by about one trillion dollars.  Make any cuts, which we need to do,...

6 Fixes for the Fiscal Cliff

President Obama made his first offer to congressional Republicans yesterday in negotiations over the “fiscal cliff”—an economic catastrophe of tax hikes just a few weeks away. The White House’s proposal? $1.6 trillion in tax increases, $50 billion in new stimulus...

Economic Impact of Fiscal Cliff

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...