Archive for October, 2011

Budget Supercommittee Facing Deliberation Deadline

Monday October 31st, 2011   •   Posted by Stephanie Freedman at 3:01pm PDT   •   0 Comments

Last week the congressional super committee discussed the large decisions they have ahead regarding spending cuts. At its fourth public meeting, the 12-member panel heard testimony from Congressional Budget Office director Douglas Elmendorf and debated discretionary spending, which includes defense and education and excludes mandatory outlays for Medicare and other programs. With the fast…
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Government Dependency at Record High

Friday October 28th, 2011   •   Posted by Stephanie Freedman at 12:22pm PDT   •   1 Comment

In a recent article Americans ‘Hooked on Government’ as Record Number Get Benefits, the San Francisco Chronicle sheds light on the staggering numbers of American dependency on government handouts. A record 49 percent of Americans live in a household where someone receives at least one type of government benefit, according to the U.S. Census…
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Fraudulence in Federal Funding

Thursday October 27th, 2011   •   Posted by Stephanie Freedman at 2:09pm PDT   •   2 Comments

The larger the federal government umbrella is, the more susceptible it is to fraud. Recent fraud cases within the�Long Island Rail Road�prove this to be true. The New York Times reports this morning: Eleven people, including two doctors and a former union president, were charged on Thursday in a �massive fraud scheme� in which…
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Washington Breaks Government Spending Record: $3.6 Trillion

Tuesday October 25th, 2011   •   Posted by David Theroux at 11:39pm PDT   •   1 Comment

The Wall Street Journal reports in “A New Spending Record: Washington had its best year ever in fiscal 2011″ that: Maybe it’s a sign of the tumultuous times, but the federal government recently wrapped up its biggest spending year, and its second biggest annual budget deficit, and almost nobody noticed. Is it rude to…
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New Budget Proposal Highlights a Flat Tax

Tuesday October 25th, 2011   •   Posted by Stephanie Freedman at 10:09am PDT   •   4 Comments

As budget proposals are�being released, one must ask themselves what they are looking for in a proposal they can truly get behind. One that balances the budget with out raising taxes? Creates a system that does not regulate enterprise and deter job growth? Gov. Rick Perry released his “Cut, Balance, and Grow” Plan which…
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Scary Debt Figures

Thursday October 20th, 2011   •   Posted by Emily Skarbek at 7:23am PDT   •   0 Comments

The United States will officially pass the 100 percent debt-to-GDP line on Halloween. This is the first time this has ever happened since World War II. As Zero Hedge reports, We decided to dig into the actual numbers (cancelling out the per capital denominator as it is the same on both sides of the…
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Budget Proposal that Cuts $1 Trillion in First Year

Tuesday October 18th, 2011   •   Posted by Stephanie Freedman at 11:04am PDT   •   1 Comment

Here at MyGovCost we are dedicated to keeping our followers updated on current topics regarding government spending. I think it is fine time to start highlighting proposed solutions as well. Presidential candidate Ron Paul released his “Plan to Restore America”�which proposes savings of $1 trillion the first year alone: SPENDING: Cuts $1 trillion in…
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A Fresh Perspective for Occupy Wall Street

Sunday October 16th, 2011   •   Posted by Emily Skarbek at 9:32am PDT   •   6 Comments

The Occupy Wall Street demonstrations are lackluster at best. One troublesome aspect of the whole “movement” concerns the poor economic logic underlying their causes. The occupiers are targeting the wrong enemy when they claim corporate greed and income inequality caused by capitalism is generating the problems in Washington. These claims have been propagated by…
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The “Buffett Tax”: Why 5.6%?

Thursday October 13th, 2011   •   Posted by Craig Eyermann at 9:17am PDT   •   3 Comments

As things stand today, if the U.S. Congress were to take absolutely no action, the maximum personal income tax rate in the United States will rise to 44.6% in January 2013. The American Enterprise Institute’s Alan Viard explains where that number comes from: In 2010, the top income tax rate bracket for ordinary income…
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Gallup Poll’s Chairman: Don’t Look to Washington for Jobs

Tuesday October 11th, 2011   •   Posted by Stephanie Freedman at 3:42pm PDT   •   0 Comments

Jim Clifton,�Chairman of Gallup, whose job is to watch the rise and fall of numbers week after week, offers advice: Don’t allow your local constituencies to look to Washington.�Washington has something for you that is unsustainable or even worse, unhealthy. Free money eventually makes you more dependent. Free money, entitlements, more bureaucracy, less of…
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