 Morning Briefing For February 5, 2013
1. CBO: Government to Spend $47.2 Trillion Over Next 10 Years We've all been waiting to see the updated CBO Budget and Economic Outlook for 2013 and the next ten years. Most of the news articles are focusing their headlines on the deficit and debt numbers projected in the CBO report. But remember that the reason why CBO deficit projections always understate the reality is because they overstate the amount of revenue they expect to come into the Treasury. CBO projects the gross federal debt to rise to $26.1 trillion by 2023, just under $10 trillion more than it is today. However, this fails to tell the full story. CBO is projecting revenues to climb to 19% of GDP, even as they predict lethargic economic growth and high unemployment for the foreseeable future. This is all the result of their ridiculous practice of statically scoring every dollar of a tax increase as a dollar more earned by the Treasury. To that end, they are projecting more revenue as a result of the Obama tax hikes. . . . please click here for the rest of the post →
2. NBC: here's the Obama administration's white paper legitimizing drone strikes! NBC News has gotten its hands on a white paper that's being used to legitimize the Obama administration's drone policy, and it's a… doozy. Short version: members of terrorist groups actively attacking the United States (or our interests) can expect to be shot on sight; and that includes the members of terrorist groups that happen to also be American citizens. And the administration does not have the inclination, and does not feels that it has the need, to particularly clear with anybody their taking the shot if a suitable target hoves into view. . . . please click here for the rest of the post → 3. With Medicaid Expansion, Gov. Kasich's Credibility Collapses Governor John Kasich's proposal to expand Medicaid eligibility in Ohio after years of criticizing the Patient Protection and Affordable Care Act (PPACA), commonly known as Obamacare, means a total collapse in Kasich's credibility on Washington spending. Kasich, a Republican, was elected in 2010 due in part to his record as a fiscal hawk in the U.S. House of Representatives. . . . please click here for the rest of the post → 4. As Rates Increase, Colorado Accounted For Nearly Half Of Xcel's Record 2012 Profits Coloradans serviced by Xcel Energy were responsible for nearly half of the company's profits in 2012 due to rate hikes implemented last May. According to Xcel's 2012 Year End Earnings Report released last week, Coloradans who purchased energy from Xcel paid higher rates and helped boost the company's profit to a record $905 million dollars. Though Xcel is based in Minneapolis and serves seven states other than Colorado, the company's operations in the Rocky Mountain state managed to rack up nearly the same profit as in Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas and Wisconsin combined. Xcel, through its local Public Service Company of Colorado (PSCo) division, provides 1.4 million Coloradans with electricity and 1.3 million with natural gas. . . . please click here for the rest of the post →
Sincerely yours, | |||||
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Wednesday, February 6, 2013
Morning Briefing: The Debt
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