Congressional Budget Office

What Could Possibly Go Wrong With Tax Reform? The Answer, According To Goldman, Is "Plenty"

In a report looking at "what could possibly go wrong" with tax reform, Goldman analysts find that while "recent developments on tax reform have been positive" with the Senate’s "tentative budget agreement likely headed for passage in the Budget Committee this week" and the Big Six framework signaling narrower tax policy differences, there’s "plenty that could still go wrong."

Republicans Scramble To Revise Obamacare Repeal Bill As Defeat Looms

Late on Sunday and overnight, GOP senate leadership was scrambling to revise the Obamacare repeal bill in order to win support from a small but critical group of holdout senators and secure the 50 votes needed to allow the tie-breaking vote in favor cast by Vice President Mike Pence.

Stockman Exposes America's Fiscal Doomsday Machine

"Maybe the Democrats did win the 2016 election. Or at least the the Deep State and its accomplices among the beltway political class, K-Street lobbies and the media did... Without a fiscal braking mechanism that is external to voluntary legislative action, the day of reckoning will be catastrophic."

Yes, This Is A Real CNBC Article On "Economics"

This trash is clearly being sold so that idiots can cite a study that says a universal basic income is a good thing. The chorus grows in the media, training the sheep how to sing their song of ignorance. Baaa if you support a universal basic income!

Full Jackson Hole Agenda Released

As expected both Janet Yellen and Mario Draghi are speaking, at 10am and 3pm local ET respectively. What is strange is that while Yellen has only 30 minutes dedicated for her opening remarks, Draghi's luncheon address is a full hour long.

Frontrunning: August 16

  • White House braces for fallout from Trump remarks (Reuters)
  • Trump Drags GOP Onto Dangerous Ground, This Time Over Race (BBG)
  • Trump Gives White Supremacists an Unequivocal Boost (NYT)
  • Trump orders faster permitting on infrastructure projects (Reuters)
  • Trump’s U.S. Senate Pick Advances in Alabama Republican Race (BBG)

Global Stocks Rise Amid Unexpected ECB "Trial Balloon"; Dollar Flat Ahead Of Fed Minutes

European markets continued their risk-on trend in early trading, rising to the highest in over a week and rallying from the open led by mining stocks as industrial metals spike higher after zinc forwards hit highest level since 2007. The EUR sold off sharply, boosting local bond and risk prices after the previously discussed Reuters "trial balloon" report that Draghi's speech at Jackson Hole would not announce the start of the ECB's taper.

CBO Blames Trump: Sees 20% Surge In 2018 Obamacare Premiums If Subsidies Removed

At the request of Nancy Pelosi, the Congressional Budget Office has just released a study intended to better understand the potential economic impacts that would result from the cancellation of taxpayer funded Obamacare subsidies (a.k.a. "cost-sharing reductions" or "CSRs").  Among other things finds that cutting CSRs would cause a 20% spike in Obamacare premiums in 2018 and result in a $194 billion increase in the deficit from 2017 through 2026.