ICYMI
Via the Committee for a Responsible Federal Budget: Congress Should Strengthen Administrative PAYGO
This May, House Budget Committee Chairman Jodey Arrington (R-TX) and Oversight Task Force Chair Jack Bergman (R-MI) introduced H.R. 8195, Strengthening Administrative PAYGO (SAP) Act of 2024. This proposal recognizes that the tax and spending decisions that add to our exploding national debt take many forms - i.e., executive orders, regulations, and a wide array of executive actions. Administrative PAYGO was designed to prevent these unilateral and arguably unconstitutional actions from … Continue Reading
August 28, 2024
Via the Washington Times: Rep. Jodey Arrington Issues Reminders on the Effects of Bidenomics
Kamalanomics is—believe it or not—worse than Bidenomics. Vice President Harris’s policies would drive us into a long, cold economic winter, crush our children with an insurmountable debt, and hand the keys to future global leadership to China. A recent Washington Times Op-Ed highlighted the work done by the Budget Committee reminding taxpayers that the Biden-Harris Administration continues to disregard the $35 trillion deficit and pursue expensive policies that do little good for the American … Continue Reading
August 28, 2024
Via the Wall Street Journal: Kamala Harris’s ‘Joyful’ War on Entrepreneurs
The Wall Street Journal (WSJ) Editorial Board recently published a piece highlighting how Democrats have trained their sights on so-called “corporate greed” while neglecting to assess the role that entrepreneurs play in driving economic growth. Using slogans like “leveling the playing field” and “growing the middle class out,” Vice President Kamala Harris and her colleagues have advocated for disruptive and unprecedented policies such as taxing unrealized capital gains at exorbitant … Continue Reading
August 23, 2024
Via City Journal: Biden-Harris Policies Amount to Lifetime Costs of Nearly $50,000 per Family
Since taking office, the Biden-Harris Administration has imposed new regulatory barriers on American families through constitutionally questionable executive actions and burdensome regulations. A recent study by Casey B. Mulligan, Professor of Economics at the University of Chicago, for the Committee to Unleash Prosperity estimates the lifetime cost of this Administration’s regulatory policies to be $47,000 per family. Professor Mulligan set forth his findings in an Op-Ed in City Journal that … Continue Reading
August 22, 2024
Kamala Harris’s Net Zero Policies are Draining your Wallet and Stifling the American Dream
The Biden-Harris Administration’s “net zero” energy policies have dramatically reshaped our nation’s energy economy for the worse. Another four years of stifling regulations on our energy sector will spur inflation and restrict access to the American dream. Vice presidential candidate and U.S. Senator for Ohio, JD Vance, recently penned an Op-Ed in the Wall Street Journal highlighting the surging prices and unplanned economic destruction that the Biden-Harris Administration’s “net- zero” … Continue Reading
August 20, 2024
Via the Wall Street Journal: Drug Price Controls Mean Fewer Cures
The Wall Street Journal Editorial Board recently published a piece that highlights how the Biden-Harris Administration’s so-called Inflation Reduction Act (IRA) is dimming prospects for new medicines through government price controls. With the Biden-Harris Administration releasing the “negotiated” prices for certain drugs in Medicare on August 15, 2024, the WSJ Editorial Board sets the record straight on how the IRA is killing hope for patients who want new lifesaving medicines. Word on … Continue Reading
August 09, 2024
Via the Peter G. Peterson Foundation: What is the National Debt Costing Us?
Since taking office, the Biden-Harris Administration has added over $7.3 trillion to the national debt, adding $1 trillion in the past seven months alone. In all, our national debt now exceeds $35 trillion and without immediate action, this will fall on the backs of future generations of Americans. A recent report from the Peter G. Peterson Foundation argues lawmakers will soon have to cut government funded programs that many Americans rely on, all as a result of our reckless spending. Word … Continue Reading
August 08, 2024
Via the New York Post: Biden-Harris Market Crash Shows They Set Not Just the World, but the Economy on Fire
This week, financial markets gyrated drastically. After an initial drop, markets recovered somewhat but those gains did nothing to alleviate the ever-present fear that a recession looms over U.S. investors and consumers. After all, since the Biden-Harris Administration assumed office, our national debt has skyrocketed by $11.6 trillion; over $2 trillion of that is attributable to a series of executive actions that brazenly bypassed Congress entirely. A recent New York Post editorial … Continue Reading
August 07, 2024
Via the Competitive Enterprise Institute: Biden-Harris Admin Regulations Cost U.S. Households More Than $15,000 Annually
Since taking office, the Biden-Harris Administration has proposed and implemented executive actions that cost American taxpayers and hurt families. A recent study by the Competitive Enterprise Institute (CEI) quantifies the annual cost of federal regulations. CEI scholars calculated that the federal regulatory burden costs the average household more than $15,000 per year, and totals $2.1 trillion in additional annual costs to Americans. Word on the Street: Via Clyde Wayne Crews with the … Continue Reading
August 01, 2024
Via RealClear Investigations: Biden’s Obamacare Expansions Could Cost Another $383 Billion
The Biden-Harris Administration has radically expanded Obamacare through unilateral executive actions and two partisan Democrat reconciliation spending bills. In fact, since the Biden-Harris Administration took office, the cost of Obamacare premium tax credit subsidies has nearly doubled from $68 billion in 2021 to $125 billion in 2024, fueling our $35 trillion national debt. Responding to a letter from House Budget Committee Chairman Jodey Arrington (R-TX) and House Ways and Means Committee … Continue Reading
July 01, 2024
Via Daily Signal: When Washington Spends, You’re on the Hook. You Deserve to Know for How Much.
House Budget Committee Member Congressman Ron Estes (R-KS) is Sounding the Alarm as the national debt continues to soar due to President Biden’s failed economic policies. Congressman Estes outlined the massive scale of the debt crisis in an article in the Daily Signal highlighting how the $34.7 trillion of national debt is affecting the average American family more than they think. He argues for passage of H.R. 8372, the Debt Per Taxpayer Information Act, which was introduced by House Budget … Continue Reading
June 26, 2024
Via the Daily Caller: We Must Address America’s Debilitating Federal Debt Spiral
On Tuesday, June 18, 2024, the Congressional Budget Office (CBO) released its updated budget projections for fiscal years (FY) 2024-2034. This is an update to its February baseline. CBO now projects that deficit spending for FY24 will reach a staggering $1.9 trillion, an estimate that is $400 billion higher than CBO predicted just four months earlier. Additionally, interest spending has increased by $540 billion or 153 percent in the three years since President Biden took office. Our country … Continue Reading
June 21, 2024
Via Forbes: CBO: Cost of Federal Student Loans Nears $400 Billion
On Tuesday, the Congressional Budget Office (CBO) released its updated budget projections for fiscal years (FY) 2024-2034. This is an update to its February baseline. The CBO’s analysis highlights that the cost of federal student loan programs are skyrocketing, with taxpayers projected to spend $393 billion, or $3,100 per household, on these programs over the next 10 years. $140 billion or over a third of this cost directly stems from President Biden’s student loan forgiveness schemes. A … Continue Reading
June 20, 2024
Via Wall Street Journal: Soaring U.S. Debt Is a Spending Problem
On Tuesday, June 18, 2024, the Congressional Budget Office (CBO) released its updated budget projections for fiscal years (FY) 2024-2034. This is an update to its February baseline. CBO now projects that deficit spending for FY24 will reach a staggering $1.9 trillion, an estimate that is $400 billion higher than CBO predicted just four months earlier. This is the third highest annual deficit in American history. A key driver of this increase is the Biden Administration’s use of executive … Continue Reading
June 14, 2024
Via Fox Business: Social Security Payments Will Be Cut $325 Per Month by 2033 Without Changes
Yesterday, the House Budget Committee held an oversight hearing Sounding the Alarm on the looming insolvency threat to the Social Security and Medicare trust funds. The Chief Actuary for the Social Security Administration and the Chief Actuary for the Centers for Medicare and Medicaid Services testified before the committee for the first time in 12 years about their respective safety net programs which are both on the path to insolvency unless action is taken. An article today in Fox … Continue Reading
May 31, 2024
Via Forbes: The Per-Household Cost of Federal Spending and Regulation
Our country is on an unsustainable fiscal path. According to the Congressional Budget Office (CBO), the federal debt now exceeds $34 trillion, equating to over $200,000 per taxpayer. CBO additionally estimates that over the next decade, deficits will double, adding another $20 trillion to the national debt. This nation’s declining fiscal trajectory will impact the lives of all Americans. Most, however, are unaware of this rapid deterioration or what it means for them. The House Budget … Continue Reading
May 22, 2024
The Daily Signal: Bipartisan Proposals Would Hold Presidents Accountable for ‘Improper’ Payments
Last week, the House Budget Committee ordered reported two pieces of bipartisan legislation aimed at reining in improper payments within the federal government. Improper payments pose an immense threat to the fiscal state of this nation. According to the Government Accountability Office (GAO), improper payments are “payments that should not have been made or were made in the incorrect amount.” Since reporting began in 2003, the federal government has made $2.7 trillion in improper … Continue Reading
May 16, 2024
Interest Costs Surpass National Defense and Medicare Spending
Halfway into Fiscal Year 2024, and the United States is now spending more on net interest payments than on national defense and Medicare. Last Friday, the Committee for a Responsible Federal Budget issued a piece highlighting that our Nation has spent more on net interest payments than both national defense and Medicare so far in Fiscal Year 2024. House Budget Committee Chairman Jodey Arrington (R-TX) continues to Sound the Alarm on rising interest payments spent to finance … Continue Reading
May 13, 2024
Washington Times: the Border Crisis Costs Taxpayers $150 Billion and Counting
On Wednesday, May 8, the House Budget Committee held a hearing entitled “The Cost of the Border Crisis.”The hearing focused on the cost of the crisis at our southern border at the federal, state, and local levels. In a recent interview with The Washington Times, House Budget Committee Chairman Jodey Arrington (R-TX) highlighted the need to secure the border and to examine the true “Cost of the Border Crisis.” Word on the Street: Via The Washington Times: “The total net cost to the … Continue Reading
May 02, 2024
House Budget’s Health Care Task Force Calls for Investigation into Cost of Center for Medicare and Medicaid Innovation
The House Budget Committee Chairman Jodey Arrington (R-TX) and Health Care Task Force Chair, Michael C. Burgess, M.D. sent a letter to Comptroller General Gene Dodaro of the U.S. Government Accountability Office (GAO) requesting an investigation on the cost of the Center for Medicare and Medicaid Innovation (CMMI) and their fiscal impact on the federal budget. Established by Obamacare with the intent of saving taxpayer money, CMMI has failed to create budgetary savings and instead has … Continue Reading
