Cbo report

• A new government report said spending cuts scheduled to go into effect in 2013, coupled with the simultaneous expiration of Bush-era tax cuts, will shrink the U.S.
(Huffington Post)
• Unless lawmakers act, the economy is likely to contract in the first half of 2013 at an annualized rate of 1.3 percent, the CBO said, before returning to 2.3 percent growth later in the year.
(Washington Post)
• CBOs report says immediate tax increases and spending cuts would represent an additional drag on the weak economic expansion. CBO is the respected nonpartisan agency of Congress that produces economic analysis and estimates of the cost of legislation.
(NewsMax.com)
• "Given the pattern of past recessions as identified by the National Bureau of Economic Research, such a contraction in output in the first half of 2013 would probably be judged to be a recession," according to the CBO's report.
(Politico.com)
• The Congressional Budget Office report says that the economy would shrink by 1.3 percent in the first half of next year if the government is allowed to fall off this so-called "fiscal cliff" on Jan.
(Washington Post)
• More domestic drilling does not make America less susceptible to global supply disruptions or protect consumers from gasoline price volatility, according to a new analysis from the Congressional Budget Office.
(Think Progress)
• It's no wonder most Americans don't trust politicians and government agencies in Washington, D.C. Too often the city's power brokers offer talking points that seem to fly in the face of logic.
(Town Hall)
• "I've really been waiting for someone to raise this CBO report because it reminds me of the Wizard of Oz when Toto pulls back the curtain and hes pulling the levers — Dont mind the person behind the curtain, Shimkus said.
(Politico.com)
• As the Congressional Budget Office warned of a recession in the event of a federal fiscal stalemate Tuesday, two senators appearing on CNBC's "The Kudlow Report" did little lawmakers forge a compromise. The CBO forecasted that the U.S.
(CNBC)
• The Congressional Budget Office report frames the difficult choice for Congress and future years would have substantial economic costs over the longer run," CBO said in its analysis.
(Washington Times)