AllSides Balanced Search reveals information and ideas from all sides of the political spectrum so you can get the full picture.
May 07 2021
Weak Jobs Report Shows Limits of ‘Stimulus’
The strong economic recovery came to a surprising halt amid the federal government reporting only 266,000 new net jobs created in April. Axios adds that “forecasters had floated gains close to 1 million, making this the biggest miss, relative to expectations, in decades.” And that is not the only bad news: March’s booming 916,000 net jobs gain was also revised down to 770,000.
Oct 12 2021
U.S. sees biggest revenue surge in 44 years despite pandemic
Despite a pandemic, a recession and a slew of tax cuts, federal tax receipts are booming.
Revenues jumped 18 percent in the fiscal year that just ended, analysts say — the biggest one-year increase since 1977.
That translates into $627 billion more than in 2020, according to the nonpartisan Congressional Budget Office, which estimates that, for the first time, total governmentPolitico
Aug 12 2020
The Tax Rates of Wall Streeters and Steelworkers
During a rousing speech in Pittsburgh on Labor Day, Joe Biden said:
Why in God’s name should a man or woman working in a steel mill making $50,000 a year pay a higher [tax] rate than someone who makes tens of millions of dollars on Wall Street? … The tax code is not fair. It’s simply not fair. The wealthy aren’t paying their fair share.
That statement is demonstrably false, andJust Facts
Oct 20 2021
Health Care Provisions of Democratic Spending Bill Would Add More than $500 Billion to the Deficit
The massive Democratic spending package now working its way through Congress is not, strictly speaking, a health care bill. But it's not not a health care bill, either. Many of its biggest, most expensive provisions are expansions of government-run or federally subsidized health care programs. Those provisions represent the largest expansion of federal health care spending since Obamacare.Reason
Jul 19 2019
Raising the Minimum Wage
“House Democrats approved legislation Thursday to raise the federal minimum wage for the first time in a decade, to $15 an hour.” The bill now heads to the Senate, where it is unlikely to pass. (AP News)
The left supports raising the minimum wage, arguing that it is unlikely to cause major job losses, though many favor a more limited increase in line with local conditions.
“[TheThe Flip Side
Aug 21 2019
US BUDGET DEFICIT WILL BREACH $1 TRILLION TWO YEARS EARLIER THAN PREDICTED
The federal budget deficit is projected to reach more than $1 trillion for the 2020 fiscal year, a figure that would arrive two years sooner than previously predicted, according to a new report from the Congressional Budget Office (CBO) released Wednesday.
This fiscal year, which ends September 30, will see a deficit of about $960 billion, a figure that CBO says will likely climb to atNewsweek
Dec 13 2021
Byron York's Daily Memo: The true cost of Biden's agenda
THE TRUE COST OF BIDEN'S AGENDA. President Joe Biden and Capitol Hill Democrats are racing to pass their massive social spending bill, known as Build Back Better, before Christmas. Maybe they'll succeed, and maybe they won't — a lot depends on whether Democratic Sen. Joe Manchin hops on board. But no one should have any illusions about what BBB, the final piece in the Democrats' COVID-yearWashington Examiner
May 20 2020
Trump’s economy is a disaster
The Congressional Budget Office on Tuesday released its economic projections for the remainder of 2020 and for 2021. “CBO estimates that real (inflation-adjusted) gross domestic product (GDP) will contract by 11 percent in the second quarter of this year, which is equivalent to a decline of 38 percent at an annual rate. In the second quarter, the number of people employed will be almost 26Jennifer Rubin
Apr 16 2018
Republicans Accelerate America’s Rush toward Bankruptcy
The CBO’s latest projections are nothing but bad news for fiscal conservatives.National Review
May 05 2020
The Staggering Cost of the Pandemic Goes Beyond Economic Relief Bills
The coronavirus pandemic and economic shutdown have induced Congress to spend whatever it takes to fund the health system and keep the economy afloat. Now we are starting to see just how overwhelming those costs are going to be.
My models estimate that the 2020 federal budget deficit—just the deficit—will top $4.2 trillion. To put that figure in context, last year the entire federalThe Dispatch