According to the Congressional Budget Office, “the federal debt is set to explode over the next decade even as the budget deficit is projected to reach its lowest level of the Obama presidency.” McClatchy D.C.,
The annual deficit should total $468 billion for the 2015 fiscal year, which will end Sept. 30, the nonpartisan budget office said. That’s a tad better than the $483 billion in fiscal 2014, and it amounts to about 2.6 percent of the overall economy, the smallest percentage since 2007 and just a hair under the 50-year average.
The improving deficit numbers are temporary, however. Budget deficits are projected to begin going up again in 2018, and to nearly double by 2024…
Every year’s deficit adds to the debt, which already stands at $18 trillion by one measure and which would be much higher if not for the historically low costs of borrowing, which have allowed the U.S. government to retire or roll over debt with unusually low costs. Think of it as the government refinancing existing debt…
The federal government is expected to spend $277 billion on interest on the debt in the current fiscal year. That’s projected to soar to $827 billion by 2025. As a percentage of the economy, it would more than double from 1.3 percent in 2015 to 3 percent in 2025.
Obamacare will bring about an increase in business for lawyers and accountants during tax season. The New Hampshire Union Leader,
Several New Hampshire-based tax preparers told this newspaper last week that they expect Obamacare to bring them many more clients this year, and they expect those clients to be angry. To get a subsidy on the health insurance exchange, people had to estimate their annual income. If they pegged it too low, they got a bigger subsidy than the government allowed, and they will have to repay the difference. A lot of people are going to owe more than they anticipated.
According to federal data, 40,262 Granite Staters bought health insurance on the exchange last year. State data show that 88 percent of them got federal subsidies. All of this cost and complexity just to make health insurance more “affordable.” Surely Americans do not believe that this is the only or the best way to accomplish that goal.
Reportedly, Democrats are “worried Clinton’s hires for the top echelons of her pre-campaign haven’t taken gender and racial diversity into account.” The Daily Beast,
Their concern started after early leaks about heavy hitters recruited for the likely 2016 presidential candidate’s proto-campaign all had two distinct things in common: they were white and male…
Clinton’s staff is only going to make diversity a factor in hiring “if they feel pressure on it,” said a Democratic strategist…
The frustrations over racial and gender diversity are especially acute among those staffers who worked on the most recent Obama campaign. Many of them found that women and minority staffers were not elevated to the very top rungs of the campaign structure—nor did they receive nearly enough credit for its eventual success.
One post-campaign retrospective from Rolling Stone drew particular ire—it pointed out ten of the Obama campaign’s ‘real heroes,’ nine of whom were men.
New York Gov. Andrew Cuomo accused teacher unions of representing themselves, not students during an appearance before the Daily News Editorial Board. The New York Daily News,
Cuomo said the only way change will come to a broken education system is if the public is better informed…
Cuomo referred to the teacher unions and the entrenched education establishment as an “industry” that is more interested in protecting the rights of its members than improving the system for the kids it is supposed to be serving.
“Somewhere along the way, I believe we flipped the purpose of this,” Cuomo said. “This was never a teacher employment program and this was never an industry to hire superintendents and teachers.
“This was a program to educate kids.”