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February 2012

02/01/2012

CBO Report: Scary, Dismal and Elephants in the Room

The Congressional Budget Office released yesterday its economic and budget analysis for 2012 and beyond. It is a one-day news story but paints a grim picture of the national outlook. It is so horrible and the consequences so dismal that it defies imagination. It begs the questions: How did this happen? What is being done to address the problems?

CBO projects a $1.1 trillion federal budget deficit for fiscal year 2012 if current laws remain unchanged. The current deficit projection is slightly higher than the one made at the end of the summer. The deficit will be slightly lower than last year but this will be the 4th year in a row in the Obama era the deficit is over a trillion dollars. The national debt passed the $15 trillion last year and is well on its way to $16 trillion.

Continue reading "CBO Report: Scary, Dismal and Elephants in the Room" »

Posted at 12:13 PM in Budget and the Economy, Current Affairs, Politics, Taxes | | Comments (1)

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  • National Debt: Does not matter anymore
    The level of the national federal does not matter anymore or at least no until the consequences set in. Parts of the Virus relief justified more borrowing but parts had no rational. The latest Biden giveaway looks like it was drawn up in a basement and there will be more debt to come. Already more that $ 5 trillion. There does not seem to be a social, income transfer or made work scheme that will ever satisfy the now Democrats controlled government. Wonder where they will be when interest rates and inflation take hold?

  • Political Report Card
    Now that eht Democrats control the Federal government , here are the latest grades for our government,

    Administration: President Biden has hardly ever been right on anything and he continues that path with his leftist, exclusionary approach. Immigration deluge at the border, bonehead virus relief package aimed at everything except the areas that actually need help. Giving in to a nuclear Iran, appointments made on quotas. Control of the economy based on probably climate rational, and moving to force people to buy cars that can not be charged. The list and direction is so scary and threatening. The Grade: F plus.

    The Senate is bankrupt institution run by Socialist Democrats by the narrowest of margins. No comity, no prisoners, no discussion. Just more spending, government growth Grade: Grade D minus

    House: The House is a partisan and nasty pit, devoid on any constructive ideas. Grade : Grade F

  • Tax Reform? What is it and How it should be!

    I have developed a three-part series on what is wrong with the tax system and suggestions to fix it. Not your usual plan but one making choices to improve the system. Become tax czar with me for a day and suggest your changes with some unexpected ideas.

    If you would like to get a complete copy,send me an e-mail. Click here to subscribe

  • Jack O. NutterJack O. Nutter is a Washington DC attorney and a principal in the consulting firm Nutter & Harris, specializing in political and strategic advice with notable experience in tax, energy, environmental and climate issues.

    Mr. Nutter was previously Tax Counsel to the US Senate Finance Committee and has been involved in several US presidential campaigns.

    He has been in private law practice and worked in the former Soviet Union, Europe and Africa for 15 years on private investment and government projects.

    He holds a Master of Laws (taxation) from Georgetown University Law Center and a Doctor of Jurisprudence from the University of Arizona College of Law. He has been published in numerous tax journals and magazines.

    Reach Jack by e-mail here.


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