House Set to Pass New Rules

Last night, the House Republican conference approved a new set of rules -- making some big changes to several budgetary rules currently in place. The rules package will go before the full House of Representatives this afternoon, and is expected to be easily adopted.

Most notably, the new rules would replace the current "pay-as-you-go" requirements with a new "cut-as-you-go" approach. The new rules would not apply to new tax cuts and would require any new mandatory spending to be completely offset by spending cuts alone, as opposed to the current PAYGO rules that also allow tax increases to pay for increased spending. We examined some of these proposed rules in an earlier blog.

There are many more rule changes that will impact the budget over the coming year, so make sure to check back soon as CRFB will be providing a more in-depth analysis shortly.

What a Mess! Who is

What a Mess! Who is responsible?

 

Clinton to Bush to Obama

Who Dug the Deep Hole? Who Fumbled the ball?

Numbers rounded

 

Clinton left Bush an 1800B Budget

Bush Left Obama a 3500 Budget

 

Clinton left Bush a 240B Surplus as far as the eye can see

Bush left Obama a 1400B Deficit as far as the eye can see

 

Clinton left Bush 5,700B of Debt

Bush left Obama 11,800B of Debt

 

Clinton left Bush a 237,000 net new jobs created per month

Bush left Obama a 31,000 lowest number since Hoover.

 

Clinton left Bush 17 Million Manufacturing Jobs

Bush left Obama 11 Million Manufacturing Jobs

 

Clinton left Bush a 10,800 Dow

Bush left Obama an 8028 Dow

 

Clinton left Bush Peace on Earth Good Will From Most Men

Bush left Obama Hell on Earth Two disastrous wars. Enmity of 1500 Million Muslims

 

Clinton left Bush a President most highly rated of any peacetime President in Asia, Africa, Europe.

Bush left Obama the most hated President in history

Bush left Obama an Housing Tsunami and Financial Volcano

Bush left Obama, in 2008, an 8500B Bail out commitment Yes! 8500 not just 700

Bush left Obama his Takeover of Fannie/Freddie, AIG, and first bailout of Chrysler

Bush increased maximum loan by Fannie/Freddie from $300,000 to $729,000

Bush increased FDIC maximum deposit coverage from $100,000 to $250,000

 clarence swinney--political historian--lifeaholics of america burlington nc

author-Lifeaholic--Life story of Workaholic failure to Lifeaholic success

Best seller list in haw river nc population 200 and growing

comments welcome at cswinney2@triad.rr.com facts -numbers not opinion

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