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New Senate Study: Obamacare Adds $17 Trillion to Unfunded Liabilities

“May the odds be ever in your favor.” The phrase, made famous by the wildly popular Hunger Games, became all the more meaningful given last week’s Mega Millions drawing. As used in the book the words are at once sardonic and naïve. A mixture of stunning ambivalence to surefire tragedy and comic brio in the face of long odds. The words were spoken by the bourgeois residents of the Capitol to the unfortunate “tributes” who would soon fight to the death. Twenty-four children go in, but only one comes out. Of course it’s much better odds than winning the lottery….

Have Democrats Forgotten that Medicare Premium Support Was Their Idea?

“How queer everything is today! I wonder if I’ve been changed in the night? Let me think: was I the same when I got up this morning? I almost think I can remember feeling a little different. But if I’m not the same, the next question is, Who in the world am I? Ah, that’s a great puzzle…” – Alice, Alice in Wonderland The above quote comes from one of the most famous scenes from Lewis Carroll’s Alice in Wonderland when Alice finds herself yo-yoing between different sizes, at times giant in need of getting out of a small door…

Higher Taxes and More Spending Dominate Democrats' Various Budgets

In the 19th century historian Thomas Carlyle gave economics its now-famous label of the “the dismal science.” Indeed, his writings went even further, labeling the discipline a “dreary, desolate and, indeed, quite abject and distressing [science].” The reason was simple – economics is the study of trade-offs, given scarce resources how do individuals maximize their wellbeing. It’s a study of why we can’t have everything we want. Budgeting rests on largely the same principle. The federal government has a finite amount of income which it must use to finance a certain amount of expenditures. For the past several years the…

Cowardly Dems Once Again Manage Zero Votes for Obama's Budget

For the second year in a row President Obama’s much-ballyhooed budget failed to garner a single vote in its favor. That’s right, not a single one of the 191 Democrats in the House of Representatives could muster the courage to vote for their president’s budget. Could there be a more stunning indictment of the White House’s misplaced spending priorities? At this point Obama should take a hint from Senate Democrats and just give up on trying to write a budget at all. The president’s budget was so unpopular within the ranks of his own party that it had to be…

Obamacare in Trouble as Obama Team Struggles Under Questioning

Cockiness is not a winning Supreme Court strategy. Contempt for your philosophical opponents does not make you right when looking through the lens of the Constitution. We blogged as much yesterday, and given the results of today’s oral arguments, it appears we hit the nail on the head. Grace Wyler reports for Business Insider: “According to CNN’s legal analyst Jeffrey Toobin, the arguments were “a train wreck for the Obama administration.” “This law looks like it’s going to be struck down. I’m telling you, all of the predictions, including mine, that the justices would not have a problem with this…

Democrats' Derision Reveals the Weakness of Their Obamacare Case

In just a few hours the Supreme Court will begin to hear oral arguments on Obamacare – likely one of the most consequential cases of our lifetimes. The outcome could literally decide the limits (or lack thereof) of the federal government’s power. While conservatives are honestly pondering the constitutional challenges that the law is likely to face, liberals are exuding a cocky confidence over their chances. Take this article from New York Times columnist Linda Greenhouse: “Journalistic convention requires that when there are two identifiable sides to a story, each side gets its say, in neutral fashion, without the writer’s…

New Study Shows Buffett Rule Doesn't Solve America's Budget Problem

Although few liberals like to admit it, math is at the center of this nation’s fiscal future. We can wax nostalgic about all the programs we want to save and all the good that such and such bureaucracy does, but in the end, if you can’t afford it, you can’t afford it. Right now the math is pretty tough. Using a fairly realistic estimate, the Congressional Budget Office predicts that debt as a share of GDP would exceed its World War II peak of 109 percent by 2023 and would approach 190 percent of GDP in 2035. Of course, that…

Fiscal Researchers: U.S. Quickly Approaching "Game Over"

Liberal columnist Matt Miller is ready for a national discussion about the way to deal with our deficit. What’s more he thinks that Rep. Paul Ryan’s “Path to Prosperity” budget is a great way to kick off the “uber-debate the country needs to have.” That’s where his graciousness ends. Miller then says that he’s ready to start the discussion only “once we get done dissecting the deceptions, hypocrisies, and regressive priorities in the Wisconsin Republican’s latest blueprint.” He then goes on to call Ryan’s plan a “misguided, misleading, and unacceptable vision.” So much for an honest debate. Rather than engage…

Commissioner: New Dodd-Frank Agencies Not Following Regulatory Rules

With Democrats in control Washington has become like a bad episode of Hoarders. Rather than actually reform existing programs to make them work better, they write new laws, draw up more red tape, and create expensive new programs and agencies. The result is a tangled up mess of a bureaucracy that not only deters good governance, but also inhibits the growth of our economy. Just as the piles of trash that invade the homes of hoarders prevent them from living a quality life, the piles of regulations coming out of Washington are depressing business activity. One of the most visible…

Democrats Doing Their Best to Ignore Obamacare Anniversary

Today marks Obamacare’s second (and hopefully last) birthday, but don’t expect any fanfare or parties. There are no ticker tape parades planned, no balloons bought, and no cake to be handed out. In reality, President Obama is spending most of the day hoping that everyone forgets what was once supposed to be his most glorious accomplishment. When asked earlier this week if Americans could expect to hear from the president on the anniversary of the health care law, White House press secretary Jay Carney demurred. “The president is focused on doing everything he can, with Congress and independently, to help…