Word: governmentalize
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The latest dose of reality from Elmendorf's CBO: a forecast that the federal deficit will reach $1.35 trillion this year - $4,400 for every American. All that red ink means the overall debt will rise to $8.8 trillion by the end of 2010, or about 60% of gross domestic...
President Obama's limited spending freeze won't in itself do much to address that disconnect, Elmendorf suggests. The CBO director projects that even if such a spending cap were to extend to all discretionary government outlays (Obama would exempt national security), it would save only $10 billion in the...
In a job that is subject to enormous political pressure, seen and unseen, from both parties, Elmendorf is nobody's pushover. In July, he rocked Capitol Hill when he testified that instead of bringing the government's health care costs down, earlier versions of legislation under consideration in both the...
Now, with the health care plan in deep political trouble, the focus for both Congress and the White House is shifting from expanding government to shrinking it. Lawmakers will again turn to the CBO for an honest assessment of what actually cuts the deficit and what merely pretends to. Elmendorf...
"I asked my wife one time, Why is that? And she said, 'Because you have no control.' " He paused. "Here, I have a little control," he said, tapping the plane's conference table. (See pictures of Robert Gates' career in government.)