This week's GOP presidential debate was notable both for what the candidates said and for what they didn't say. Noting that Presidents Obama and Clinton had added 107,000 and 240,000 jobs a month compared to George W. Bush's anemic 13,000, Fox Business moderator Maria Bartiromo asked Carly Fiorino, "How are you going to respond to […]

During Wednesday's GOP debate on the economy hosted by CNBC, Ohio Governor John Kasich offered a rare moment of truth. Referring to his Republican rivals' tax plans as "fantasy," Kasich mocked the notion that any of them had a prayer of reducing the national debt, let alone balancing the federal budget: "You can't do it […]

Of all of the myths Republicans have generated for American voters, the fiction that "tax cuts pay for themselves" is the Uber Lie. After all, almost four decades of U.S history and a mountain of incontrovertible evidence show the only certain outcomes of GOP tax-cutting plans are skyrocketing national debt and ever-widening income inequality. It's […]

On Monday, Donald Trump became just the latest Republican White House hopeful to propose a Treasury draining, tax cut windfall for the richest Americans. But while Trump calls for slashing the top marginal income tax rates at a time of record income inequality, a new study from the Brookings Institution argues that hiking those same […]

Some things never change. With some constants in life, like the invariable force of gravity or the sun rising in the east, that persistence is good news. (Imagine your morning coffee without them.) The bad news is that some myths, no matter how dangerous or thoroughly debunked, never seem to die. This week, the greatest […]

For the past five years, Republicans determined to gut federal spending have been warning that "we look a lot like Greece." A preposterous claim then, the charge is even more ridiculous now. Unlike Greece, the United States controls its own currency and has enjoyed economic growth even as Washington's national debt as a share of […]

On April 15th, Congressional Republicans missed their deadline for the fiscal year 2016 budget resolution. Nevertheless, and despite their differences on defense spending and the voucherization of Medicare (absent from the Senate bill), the GOP conferees aim to balance the budget in 10 years by slashing over $5 trillion in social programs and safety net […]

In 2008, the campaign of multi-millionaire John McCain tried to brand Barack Obama as "elitist" and "out of touch" and "worried about the price of arugula." Four years later, Mitt Romney--the GOP presidential nominee worth at least a quarter of a billion dollars--declared that President Obama "reminded me of Marie Antoinette." Now, Politico tells us, […]

"Unless we are able to correct this," National Taxpayer Advocate Nina Olson warned in November, "very bad things will happen to taxpayers." By "this," Olson meant five straight years of budget cuts and staffing reductions at the Internal Revenue Service (IRS). Now, thanks to Congressional Republicans once again targeting Uncle Sam's tax collector for political […]

This week, Congressional Budget Office (CBO) released its assessment of President Obama's proposed budget for fiscal year 2016. For those of us prioritizing economic growth over deficit reduction, the picture is a pretty good one. Despite new investments in education and infrastructure, the Obama budget will reduce the projected national debt by $1.2 trillion over […]