Johnson: Protect Health Care for Public Employees
Washington, D.C. – Senator Ron Johnson (WI) released the following statement regarding the decision of Chicago Mayor Rahm Emanuel to dump retired employees of the City of Chicago into Obamacare health exchanges:
“Not long a...
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Johnson: CBO Makes Clear America Cannot Afford Obamacare
Washington, D.C. – Senator Ron Johnson (WI) released the following statement regarding the Congressional Budget Office’s updated estimate of the cost of Obamacare:
“The President and his allies in Congress sold Obamacare...
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Johnson: Benghazi Was the 3:00 A.M. Call
Washington, D.C. - Senator Ron Johnson (WI), who attended part of yesterday’s hearing of the House Committee on Oversight and Government Reform, released the following statement:
“During the 2008 Democratic Presidential primar...
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Johnson Calls for New Senate Hearings on Benghazi
Oshkosh, WI – Senator Ron Johnson (WI) made the following comments regarding the ongoing developments in the Benghazi terrorist attacks:
“During the hearing on Benghazi before the Senate Committee on Foreign Relations, I asked...
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Stabilize our debt?
One of President Obama’s proposed solutions for the debt and deficit is something he calls the Buffett Rule, or Buffett tax. The President said that if you enact the principles of the Buffett rule, "not only do we pay for our jobs bill, but we also stabilize our debt and deficits for the next decade."
Here are some basic facts: During President Bush’s first term he ran deficits that totaled $0.8 trillion. During his second term his total deficits equaled $1.2 trillion. Now President Obama has been somewhat of an overachiever when it comes to deficit spending. During President Obama's four years his deficits totaled about $5.3 trillion. How much would the Buffett tax raise? The answer is $20 billion.
Now $20 billion does not stabilize deficits totaling of $5300 billion. I think the President of the United States has a duty not to mislead the American public. With his Buffett Rule comment, President Obama was misleading the American public. He continues to ...
What budget cuts?
From 1993 to 2002 the federal government spent $17 trillion. During the past 10 years the federal government spent $30 trillion - almost doubling spending from decade to decade. The House budget proposes spending $40 trillion during the next 10 years. President Obama wants to spend $47 trillion. There are no overall cuts, just an attempt to reduce the rate of growth in spending so we don’t bankrupt this nation.
Gross federal debt through 2025
On September 30, 1987 – near the end of the Reagan Administration – total federal debt stood at $2.3 trillion. Our federal government took 200 years to incur $2.3 trillion dollars worth of debt. In the 2011 debt ceiling increase, Congress gave the President approval to increase the debt ceiling by $2.1 trillion. I voted against that measure, but the federal government will use up that $2.1 trillion increase around Christmas of 2012. We will have gone through $2.1 trillion worth of debt in less than two years. It took 200 years to incur $2.3 trillion of debt, and we will incur $2.1 trillion dollars more in less than two years.
When President Obama came into office the national debt stood at $10.6 trillion. It recently surpassed $16 trillion, which is larger than the size of our economy - an extremely dangerous metric.
Here’s one way to think about this: If a family’s debt exceeds total income on an annual basis, and the family doesn’t hav...
The broken health care promise
As part of the effort to pass his healthcare law, President Obama famously said that he was going to"bend the cost curve down." He said that he was going to reduce of the cost of a family health insurance plan by $2,500 per year.
When he came into office, the cost of a family plan was a little more than $12,000 anually, so had he been able to keep this promise that would imply that the average cost for a family plan today would be a little less than $9,800. Instead the annual cost for a family plan is now $15,000 - up by almost $3,000. That’s a $5,000 broken promise.
What budget cuts?
From 1993 to 2002 the federal government spent $17 trillion. During the past 10 years the federal government spent $30 trillion - almost doubling spending from decade to decade. The House budget proposes spending $40 trillion during the next 10 years. President Obama wants to spend $47 trillion. There are no overall cuts, just an attempt to reduce the rate of growth in spending so we don’t bankrupt this nation.
Federal spending as a percentage of GDP
The cloture vote is the method the United States Senate developed in 1917 to bring unlimited debate to an end. The Senate initially set the threshold to bring debate to an end at 2/3, which would be 67 senators in today’s Senate. In 1975 they lowered that threshold to 3/5, or 60 votes, which is our current level. Before this first cloture vote, the federal government was 2 percent of the economy - 2 cents of every dollar flowed through the federal government. At that time state and local governments represented 5 percent of our total economy so the total cost of government was 7 percent. Today the federal government is 24 percent the size of our economy - 24 cents of every dollar flows through the federal government. Add state and local government (about 16 percent) and we’re up to 40 percent which is the lower level of European-style socialism.
Government consumes a greater share of our economy
Changes to Senate rules have made it easier for government to grow - and it has grown. The federal government expanded from two percent of Gross Domestic Product in 1903 to a peacetime high of twenty-five percent in 2009.
Gross federal debt through 2025
On September 30, 1987 – near the end of the Reagan Administration – total federal debt stood at $2.3 trillion. Our federal government took 200 years to incur $2.3 trillion dollars worth of debt. In the 2011 debt ceiling increase, Congress gave the President approval to increase the debt ceiling by $2.1 trillion. I voted against that measure, but the federal government will use up that $2.1 trillion increase around Christmas of 2012. We will have gone through $2.1 trillion worth of debt in less than two years. It took 200 years to incur $2.3 trillion of debt, and we will incur $2.1 trillion dollars more in less than two years.
When President Obama came into office the national debt stood at $10.6 trillion. It recently surpassed $16 trillion, which is larger than the size of our economy - an extremely dangerous metric.
Here’s one way to think about this: If a family’s debt exceeds total income on an annual basis, and the family doesn’t hav...
Gross federal debt through 2025
On September 30, 1987 – near the end of the Reagan Administration – total federal debt stood at $2.3 trillion. Our federal government took 200 years to incur $2.3 trillion dollars worth of debt. In the 2011 debt ceiling increase, Congress gave the President approval to increase the debt ceiling by $2.1 trillion. I voted against that measure, but the federal government will use up that $2.1 trillion increase around Christmas of 2012. We will have gone through $2.1 trillion worth of debt in less than two years. It took 200 years to incur $2.3 trillion of debt, and we will incur $2.1 trillion dollars more in less than two years.
When President Obama came into office the national debt stood at $10.6 trillion. It recently surpassed $16 trillion, which is larger than the size of our economy - an extremely dangerous metric.
Here’s one way to think about this: If a family’s debt exceeds total income on an annual basis, and the family doesn’t hav...
Increased costs for Obamacare
An explanatory video is available for this chart. Click through to view it.
The broken health care promise
As part of the effort to pass his healthcare law, President Obama famously said that he was going to"bend the cost curve down." He said that he was going to reduce of the cost of a family health insurance plan by $2,500 per year.
When he came into office, the cost of a family plan was a little more than $12,000 anually, so had he been able to keep this promise that would imply that the average cost for a family plan today would be a little less than $9,800. Instead the annual cost for a family plan is now $15,000 - up by almost $3,000. That’s a $5,000 broken promise.
Stabilize our debt?
One of President Obama’s proposed solutions for the debt and deficit is something he calls the Buffett Rule, or Buffett tax. The President said that if you enact the principles of the Buffett rule, "not only do we pay for our jobs bill, but we also stabilize our debt and deficits for the next decade."
Here are some basic facts: During President Bush’s first term he ran deficits that totaled $0.8 trillion. During his second term his total deficits equaled $1.2 trillion. Now President Obama has been somewhat of an overachiever when it comes to deficit spending. During President Obama's four years his deficits totaled about $5.3 trillion. How much would the Buffett tax raise? The answer is $20 billion.
Now $20 billion does not stabilize deficits totaling of $5300 billion. I think the President of the United States has a duty not to mislead the American public. With his Buffett Rule comment, President Obama was misleading the American public. He continues to ...
Is this the time for a tax Increase?
In the past, President Obama has foresworn tax increases out of concern for harming a fragile recovery. Our recovery is no better now than it was at those times.
Gross federal debt through 2025
On September 30, 1987 – near the end of the Reagan Administration – total federal debt stood at $2.3 trillion. Our federal government took 200 years to incur $2.3 trillion dollars worth of debt. In the 2011 debt ceiling increase, Congress gave the President approval to increase the debt ceiling by $2.1 trillion. I voted against that measure, but the federal government will use up that $2.1 trillion increase around Christmas of 2012. We will have gone through $2.1 trillion worth of debt in less than two years. It took 200 years to incur $2.3 trillion of debt, and we will incur $2.1 trillion dollars more in less than two years.
When President Obama came into office the national debt stood at $10.6 trillion. It recently surpassed $16 trillion, which is larger than the size of our economy - an extremely dangerous metric.
Here’s one way to think about this: If a family’s debt exceeds total income on an annual basis, and the family doesn’t hav...
What budget cuts?
From 1993 to 2002 the federal government spent $17 trillion. During the past 10 years the federal government spent $30 trillion - almost doubling spending from decade to decade. The House budget proposes spending $40 trillion during the next 10 years. President Obama wants to spend $47 trillion. There are no overall cuts, just an attempt to reduce the rate of growth in spending so we don’t bankrupt this nation.
Entitlement spending compared to long-term federal revenue generation
The data used in preparation of this chart can be viewed here....
The growth of automatic spending
One challenge that Congress faces is that 64 percent of all federal spending is currently on 'automatic pilot.' Only about 36 percent of all spending is appropriated each year. That percentage is set to decline. By 2022, only about one-quarter of the federal budget will be appropriated annually.
Historic interest rates
The federal government is currently adding more than $1 trillion in new debt ever year. For now, this debt is being financed at historically low interest rates. Once interest rates return to historic norms - approximately 3.8 percent higher than they have been during the Obama administration - the cost of adding debt will climb dramatically. Congress will need to cut spending or raise taxes to finance this increased borrowing cost.
Government consumes a greater share of our economy
Changes to Senate rules have made it easier for government to grow - and it has grown. The federal government expanded from two percent of Gross Domestic Product in 1903 to a peacetime high of twenty-five percent in 2009.
Federal spending as a percentage of GDP
The cloture vote is the method the United States Senate developed in 1917 to bring unlimited debate to an end. The Senate initially set the threshold to bring debate to an end at 2/3, which would be 67 senators in today’s Senate. In 1975 they lowered that threshold to 3/5, or 60 votes, which is our current level. Before this first cloture vote, the federal government was 2 percent of the economy - 2 cents of every dollar flowed through the federal government. At that time state and local governments represented 5 percent of our total economy so the total cost of government was 7 percent. Today the federal government is 24 percent the size of our economy - 24 cents of every dollar flows through the federal government. Add state and local government (about 16 percent) and we’re up to 40 percent which is the lower level of European-style socialism.
Is this the time for a tax Increase?
In the past, President Obama has foresworn tax increases out of concern for harming a fragile recovery. Our recovery is no better now than it was at those times.
Gross federal debt through 2025
On September 30, 1987 – near the end of the Reagan Administration – total federal debt stood at $2.3 trillion. Our federal government took 200 years to incur $2.3 trillion dollars worth of debt. In the 2011 debt ceiling increase, Congress gave the President approval to increase the debt ceiling by $2.1 trillion. I voted against that measure, but the federal government will use up that $2.1 trillion increase around Christmas of 2012. We will have gone through $2.1 trillion worth of debt in less than two years. It took 200 years to incur $2.3 trillion of debt, and we will incur $2.1 trillion dollars more in less than two years.
When President Obama came into office the national debt stood at $10.6 trillion. It recently surpassed $16 trillion, which is larger than the size of our economy - an extremely dangerous metric.
Here’s one way to think about this: If a family’s debt exceeds total income on an annual basis, and the family doesn’t hav...
Victims of Government: Steve's Story
Elected leaders need to carefully consider the costs and negative unintended consequences of unnecessary federal regulations. They need to remember that real people must comply with these regulations and that making them overly burdensome ...
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Johnson Discusses Meeting with President Regarding Budget Issues
Senator Johnson was one of 12 members of the Senate to meet with President Obama to discuss fiscal and budgetary challenges. He appeared with Greta Van Susteren to discuss the meeting....
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Senators Johnson & Paul Discuss Drone Warfare
Senator Johnson joined Senator Rand Paul (KY) during a filibuster of the nomination of John Brennan to serve as director of the Central Intelligence Agency. Johnson and Paul were attempting to call attention to the nonresponsiveness of the ...
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Johnson Questions CBO Director Dr. Douglas Elmendorf
Senator Johnson questioned Congressional Budget Office Director Dr. Douglas Elmendorf at a hearing of the Senate Budget Committee. Johnson focused on how Congress can act to save programs such as Medicare and Social Security....
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Victims of Government
The Small Business Administration Office of Advocacy estimates that it costs Americans $1.75 trillion to comply with federal regulations each year. To put $1.75 trillion into perspective, that amount is larger than all but eight economies in the world.
...
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