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Tag Archives: Congressional Budget Office
Troubled Asset Relief Program Report – Same Villains
Lawmakers created the TARP in 2008 to stabilize the roiling financial markets. Given what appears to be universal Republican intransigence on guaranteeing US Treasury repayment of the huge amount of debt piled up considerably during the Trump Administration, and the ongoing Republican folly of tax-cuts for the wealthy and other forms of corporate welfare, it appears that the US is once again headed for a crash in the financial markets, a recession and perhaps a resulting global depression. If another bailout is needed to provide stability in financial markets by purchasing and guaranteeing “troubled assets,” let’s hope we learn from the past and awaken to the idea that bailed out banks and financial institutions will have to give taxpayers equity in the institutions commensurate with the amount of money given them. Continue reading
Equivalent Gas Tax or Fee on EVs to Offset Lost Revenue?
CBO said that if Congress were to levy an annual fee on EVs in an amount that is approximately proportionate with the amount paid in gasoline tax? Taking as a starting point an average driver of a light duty passenger vehicle with a gasoline engine, how much revenue could be raised during the next five years? Moreover what percent of the anticipated shortfall in the Highway Trust Fund would that be? Continue reading
US International Trade Deficit Soars in April to $50 Billion
The US international trade deficit in goods and services increased to $49.4 billion in April from $42.3 billion in, as exports and imports saw their largest monthly declines in history. It is the latest indicator that economy is struggling during the COVID-19 crisis according to Commerce Department data. The bad news increases if you consider the unemployment crisis. Continue reading
U.S. 2011 Deficit $1.3 Trillion, Greater Than any Year Since 1945
The 2011 deficit was equal to 8.6% of gross domestic product, CBO estimates, down from 8.9% in 2010 and 10.0% in 2009, but greater than in any other year since 1945. Continue reading
Constitution Day 2025 Thoughts
The point here is that to govern without facts is madness. Leaving aside the historical revisions that show that King George III, the monarch who lost the colonies to what became the United States, was, well, mad as a hatter in his later years. Donald J. Trump – the man who wishes to be our King now – should not be our president based on his deteriorating mental condition. He doesn’t even know what is going on in his own administration.Is Trump going to fire the entire CBO? [See the following] It’s time for “We the People” to fire Trump and his Curia Regis, the advisors – cabinet members, agency heads and the like – who are against the facts or falsify them. Continue reading →