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Larry Kudlow’s Revenue Deception

Larry Kudlow’s Revenue Deception

On the day the Trump administration released its fiscal 2020 budget, White House economic adviser Larry Kudlow misleadingly claimed that “overall revenues are up about 10 percent.” In fact, federal revenues are down since the Republican tax cuts became law.

Double-Counting Growth

Double-Counting Growth

The president’s budget counts on economic growth to reach a balance, but his tax cut plan also relies on that growth to remain revenue-neutral. Tax and budget experts say that’s double-counting the same money.

Cruz’s Conservative Credentials

Cruz’s Conservative Credentials

A pro-Rand Paul super PAC cherry picks two fiscal votes to label Sen. Ted Cruz as a “phony” conservative. In fact, fiscal conservative groups that score congressional votes rank both presidential candidates as among the most conservative in the Senate.

Deficits Falling (From Way Up)

Deficits Falling (From Way Up)

In recent speeches, President Obama has repeatedly claimed that “our deficits are falling at the fastest rate in 60 years.” That’s not true.

‘Record Revenues’

‘Record Revenues’

Republicans claim the federal government will “collect more revenue in 2013 than ever before.” But that’s only true in raw dollars, not as a percentage of gross domestic product, which accounts for growth in population, inflation and earnings.

GOP Budget Revives ‘Obamacare’ Claims

GOP Budget Revives ‘Obamacare’ Claims

The release of the House GOP budget by Rep. Paul Ryan has sparked a resurgence of false and misleading claims about the Affordable Care Act, which the budget seeks to largely repeal. On the Sunday talk shows, Rep. Debbie Wasserman Schultz, the head of the Democratic National Committee, and Sen. Ron Johnson, a Republican from Wisconsin, each distorted the facts regarding revenues raised in the health care law. And Ryan wrongly said the law would take money away from Medicare and ration benefits for seniors.

Underselling the Sequester Cuts

Underselling the Sequester Cuts

An ad from a fiscally conservative group makes a true but misleading claim that the sequester only amounts to “a 3 percent cut in federal spending.” A majority of federal spending is exempt from the sequester cuts, so the parts that are not will be cut much more deeply than that. For example, defense spending (other than for military personnel) will be cut by 8 percent across the board, and nondefense discretionary spending will be cut by between 5 percent and 6 percent.

Boehner’s Revenue Reach

Boehner’s Revenue Reach

House Speaker John Boehner claimed the federal government will take in more revenue this year than any other year in history. That’s true in nominal dollars, but not as a percentage of gross domestic product — a measure preferred by most economists that accounts for growth in population, inflation and earnings.
In fact, as a percentage of GDP, revenues this year are actually lower than the historical average since World War II.
In an interview on CBS Evening News on Feb.

Fudging on the Fiscal Cliff Deal

Fudging on the Fiscal Cliff Deal

In a Web video, President Barack Obama leaves out some key facts about the fiscal cliff deal, possibly leaving the wrong impression about its impact on taxpayers and the deficit:

Obama boasts that “middle-class families” will not have to “pay upwards of $2,000 more in taxes this year.” That’s accurate for income taxes, but Obama doesn’t mention that the deal allowed a payroll tax cut to expire. About 77 percent of taxpayers will pay more in taxes this year —

Fall Preview: Obama vs. Romney (and Ryan)

Fall Preview: Obama vs. Romney (and Ryan)

President Obama says Mitt Romney has embraced a budget that could throw hundreds of thousands of children out of Head Start classrooms, eliminate air traffic control services in some places, and “ultimately end Medicare as we know it.” Romney says that’s just “rhetorical excess” and …