Thursday, August 23, 2012

Economy - # 4152 - CBO: Deep Recession on the Way if Congress Fails to Stop the Fiscal Cliff - Hot Air (2) Obamascare: More People Fear Obama Health Care Than Ryan Medicare Plan - Katie Pavlich - Townhall

On Wednesday, the Congressional Budget Office issued its latest report, predicting that — unless Congress acts to thwart January’s upcoming “Taxmageddon” — our economy will suffer even further setbacks and likely land squarely back into the realms of recession. …Wait, so they’re saying that… hiking taxes doesn’t necessarily lead to more revenue and actually hinders economic growth and job creation? What the what? In its most dire warning yet about the fiscal cliff yet, the CBO said the economy would contract by 0.5 percent in calendar year 2013 if the Bush-era tax rates expire and automatic spending cuts are implemented. Unemployment also would rise from 8.2 percent in 2012 to 9.1 percent next year, it estimates. The contraction would be very severe in the first half of 2013. CBO sees the economy contracting by 2.9 percent in the first half– deeper than the 1.3 percent negative growth it had seen previously from the fiscal cliff. The gloomy picture of rising debt and weak economic growth marks CBO’s final major report before the November election. The report is a sharp contrast with the 1.1 percent in growth the CBO projected in January for 2013 and 0.5 percent growth it projected in May.  Read more......

Obamascare: More People Fear Obama Health Care Than Ryan Medicare Plan - Katie Pavlich - Townhall - Despite more than a year of attacks on Paul Ryan's budget plan, including an advertisment of Ryan throwing granny off a cliff, a new Rasmussen Report shows it's not Ryan's plan that people are scared of, it's ObamaCare. Democrats hope to make inroads in the senior vote by raising concerns about Mitt Romney running mate Paul Ryan’s Medicare reform proposal, but most seniors are more fearful of President Obama’s health care law than they are of Ryan’s plan. The latest Rasmussen Reports national telephone survey finds that when it comes to the future of Medicare, 47% of Likely U.S. Voters are scared more of the health care law than of Ryan’s proposal. Forty-one percent (41%) are more scared of what Ryan has proposed.  Read more......  Article contributed by Steve Peters.

No comments:

Post a Comment