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Bret Willhoit

Obama's 2011 Budget Proposal: How It's Spent - Interactive Graphic - NYTimes.com - 9 views

www.nytimes.com/...budget.html

budget obama

shared by Bret Willhoit on 02 Feb 10 - Cached
  • Bret Willhoit on 02 Feb 10
     
    Interactive graphic that can be used to have students try to trim the budget just like they are discussing in real-life. Also interesting to see what areas are being cut and what areas are being added to.
Aaron Palm

David Ranson: The Revenue Limits of Tax and Spend - WSJ.com - 0 views

online.wsj.com/...4608104575217870728420184.html

revenue limits tax spend hauser's law

shared by Aaron Palm on 19 May 10 - Cached
  • President Obama's fiscal 2011 budget, the Congressional Budget Office (CBO) estimates a deficit that starts at 10.3% of GDP in 2010. It is projected to narrow as the economy recovers but will still be 5.6% in 2020. As a result the net national debt (debt held by the public) will more than double to 90% by 2020 from 40% in 2008.
  • They do not include deficit spending resulting from the new health-insurance legislation. The revenue numbers rely on increased tax rates beginning next year resulting from the scheduled expiration of the Bush tax cuts. And, as usual, they ignore the unfunded liabilities of social insurance programs,
  • "Hauser's Law," as I call this formula, reveals a kind of capacity ceiling for federal tax receipts at about 19% of GDP.
  • Aaron Palm on 19 May 10
     
    We can never collect more than 20% tax rate
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