News
Forbes | Obama's Budget Doubles Down On Climate Fixes. Republicans Vow To Undo Them.
In addition to some $7.4 billion in research and development funding for clean energy and climate science, President Obama’sfiscal year 2016 budget — a nearly $4 trillion affair — includes $239 million aimed at the Environmental Protection Agency’s contentious Clean Power Plan, which among other things seeks to reduce emissions from power plants that burn fossil fuels, including coal. Adding to that, Obama is seeking another $4 billion to create a set of incentives for states to go above and beyond that federal program in a broad effort to begin dramatically reducing U.S. greenhouse gas emissions.
Econ Comments & Analysis
Wall Street Journal | What Democrats and the CBO Don’t Get
The recent rule change by House Republicans to incorporate the macroeconomic impact of major legislation into official budget estimates—“dynamic scoring”—has triggered heated criticisms. But three decades of hard accounting data, in addition to supporting the rule change, should prompt Washington to reconsider the way it thinks about what drives federal revenues.
Forbes | Obama's 2016 Federal Budget And Middle Class Economics
Spending had topped $4 trillion back during the height of the downturn, when America was in full-stimulus mode, pouring money into “shovel-ready” projects and infrastructure.
