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National debt due to double, says Congressional Budget Office
US debt is on track to double the size of the entire economy in the next 25 years, the non-partisan Congressional Budget Office reported Tuesday in its grim view of America’s fiscal future. The CBO said that under present policy, in which current tax rates are upheld and lawmakers do…
U.S. faces 2013 recession after ‘fiscal cliff’: CBO
WASHINGTON — The United States faces a likely recession next year if Congress fails to stop scheduled spending cuts and tax hikes in January, congressional budget analysts warned Tuesday. The nonpartisan Congressional Budget Office said that if currently mandated fiscal conditions are implemented — what some observers call a “fiscal…
Gingrich labels Congressional Budget Office a ‘reactionary socialist institution’
Republican presidential candidate and former House Speaker Newt Gingrich used an unusual oxymoron to blast the Congressional Budget Office (CBO) in New Hampshire on Monday. Gingrich previously said if president he would abolish the CBO, a federal agency that provides independent economic data to Congress, because it found that health…
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