• Tim Knight from...
    09/29/2014 - 19:50
    Which brings us to Clinkle, which is a firm founded by a 22 year old with no business successes behind him (which at least Color.com's founder could claim, as he sold his firm to Apple for...

Congressional Budget Office

Tyler Durden's picture

Obamacare Website Costs Top $2 Billion, Almost Triple Government Estimates





What's the opposite of government efficiency? In a double-take-instigating headline, the federal government’s Obamacare enrollment system has cost about $2.1 billion so far, according to a Bloomberg Government analysis of contracts related to the project. BGOV’s analysis shows that costs for both healthcare.gov and the broader reform effort are far greater than anything publicly discussed. However, that pales into insignificance when considering health reform has cost American taxpayers $73 billion in the last four years... and counting.

 
GoldCore's picture

Where Is Venezuela's 366 Tonnes Of Gold?





* Where is Venezuela's 366 tonnes of gold?
* Does Venezuela still control and own unencumbered it’s own gold reserves?
* Is any of the country's gold encumbered, loaned or leased to Goldman Sachs or other banks?
 

 
Tyler Durden's picture

Why US Interest Rates Can Never Rise (In 1 Chilling CBO Chart)





It’s not just homeowners who have to worry about rising interest rates, the Federal government might soon get a taste of its own medicine. From the admittedly partisan Republican Senate Committee on the Budget comes this report outlining how federal interest outlays will dovetail with other expenses in the future. "By the end of the budget window in 2024, however, CBO forecasts that interest payments will nearly quadruple to an astonishing $880 billion."

 
Tyler Durden's picture

CBO: Obamacare Discourages Work





Remember all those allegations that Obamacare would be an unmitigated disaster for businesses, especially smaller companies? Well, now we have some facts. A week ago we noted that the Philly Fed found that Obamacare was a disaster for business, and now no lessor entity than the Congressional Budget Office (CBO) is out with its latest forecasts, concluding "certain aspects of the Affordable Care Act will tend to reduce labor force participation." While we already noted that 'work is punished' in America, it appears now that with Obamacare, non-work is actually incentivized.

 
Tyler Durden's picture

Frontrunning: August 28





  • Clearly it's time to bomb Assad (on Qatar instructions): Islamic State executes dozens of Syrian army soldiers (Reuters)
  • Ukraine Declares Russian Invasion as Sanctions Threat Raised (BBG)
  • Ukraine Reports Russian Invasion on a New Front (NYT)
  • German Unemployment Rises as Risks to Economy Build (BBG)
  • Ebola spreads to Nigeria oil hub Port Harcourt (BBC)
  • FBI Probes Possible Hacking Incident at J.P. Morgan (WSJ)
  • FBI, Secret Service investigate reports of cyber attacks on U.S. banks (Reuters)
  • If you like your Venezuela, you can stay in Venezuela: Airlines Abandon Fliers Amid Currency Dispute (WSJ)
  • Boomer Wealth Dented by Mortgages Poses U.S. Risk (BBG)
  • People Aren't Buying Guns (BusinessWeek)
 
Tyler Durden's picture

CBO Thinks Millions Of Americans Aren't Going To Sign Up For Obamacare





According to government's own projections, the 'universal coverage' provided by the Affordable Care Act will still yield almost 4 million Americans who will prefer to pay an average tax of more than $1,000 to the government for 2016, rather than buying health insurance that year... and the total number of nonelderly uninsured Americans projected for calendar 2016 is some 30 million.

 
Tyler Durden's picture

CBO "Revises" Its 2014 GDP Forecast, Hilarity Ensues (As Always)





The gross, in fact epic, incompetence of the Congressional Budget Office when it comes to doing its only job, forecasting the future state of the US economy, has previously been extensively documented here (and here and here and here). This incompetence is in the spotlight once again this morning with the CBO's release of its latest forecast revision of its original February 2014 projection. And while every aspect of the revised projection has changed, in an adverse direction of course, the punchline is the chart below: the CBO's revised projection for 2014 GDP. It's one of those "no comment necessary" visuals.

 
Tyler Durden's picture

Alternative Measures Suggest Weaker Economy





There is much hope pinned on continuing economic recovery in the United States despite a deterioration of the global economy virtually everywhere else. While it was not surprising to see a bounce back in activity after a contractionary first quarter, there are several economic data points that suggest that sustainability of the bounce is unlikely. Expectations are very likely well ahead of reality at the current time. This increases the risk of disappointment in the months and quarters ahead which could be a negative for the markets.

 
Tyler Durden's picture

Forget CYNK, Here's The Newest Scam From The Pump-And-Dumpers





Roughly a month ago, we exposed CYNK Technology Corp. The CYNK bubble was, of course, the result of carefully planned deceit and clever promotion by a handful of people who stood to make a lot of money on the trade. But when you think about it, CYNK’s stock wasn’t really any dumber than owning US Treasuries. In the case of CYNK, it only took about a month for the bubble to inflate and burst. The Treasury bubble, on the other hand, was built on credibility earned over decades; but while previous generations earned the world’s trust, modern day politicians have blown through it. Now all they have left is their snake oil sales pitch. And a mountain of obligations that closed July 2014 at a record high $17.69 trillion.

 
Tyler Durden's picture

Krugman: CBO Doesn't Know How To Read Its Own Report





Paul Krugman reads the latest long-term forecast from the US Congressional Budget Office (CBO) and he likes what he sees. Even though the chart below is the CBO’s projections for the growth of federal debt, described by CBO as "a path that would ultimately be unsustainable," Krugman nonetheless offers a rosy commentary...

 
Tyler Durden's picture

How To Fight The Ex-Im Bank





Here’s a radical suggestion to help counter to the pro-crony forces: be upfront about the true sinister nature of organizations like the Ex-Im Bank. Let’s call a spade a spade, and finally describe the Ex-Im Bank what it truly is: fascism. Such a word comes off as a boogey man term used to rile up emotions. But in the battle of ideas, sophistry always comes up short. Just as the shortest distance between two points is a straight line, precise words are better than vague words when it comes to making a point.

 
Tyler Durden's picture

Here Are The Funniest Quotes From BofA As It Throws In The Towel On Its "Above-Consensus" GDP Forecast





It is hard not to gloat when reading the latest embarrassing mea culpa from Bank of America's Ethan Harris, who incidentally came out with an "above consensus" forecast late last year, and has been crushed month after month as the hard data has lobbed off percentage from his irrationally exuberant growth forecast for every quarter, and now, the year. As a result, BofA has finally thrown in the towel, and tongue in cheekly admits it was wrong, as follows: "our tracking model now suggests growth of -1.9% in 1Q and 4.0% in 2Q for a first half average of just 1.0%.... Momentum is weak, but fundamentals are strong. We have lowered second half growth to 3.0% from 3.4%."

 
Tyler Durden's picture

Carl's Jr CEO Explains Why Nobody Is Hiring Young People





In President Obama's speeches this year, a steady theme has been creating jobs and economic opportunity for Americans. Yet during the more than five years Mr. Obama has been in office, young people have been especially hard-hit by the slow and virtually jobless recovery. On a deeply human level, it's profoundly sad. The message to Obama - "The bottom line on labor: Make something less expensive and businesses will use more of it. Make something more expensive and businesses will use less of it."

 
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