Earlier this week, Maya MacGuineas, a fiscal policy expert at the New America Foundation, ranked Congress’s options in addressing the pending expiration of the 2001 and 2003 tax cuts. A little more than two months remain before an automatic tax hike on all American earners sets in, and Congress has …
The prospects for new nuclear energy in the U.S. were purportedly set back this weekend when Constellation Energy pulled out of the Calvert Cliffs 3 nuclear energy project in Maryland. They argued that the Department of Energy’s loan guarantee program was too expensive and complicated to be workable. No loan …
The 2010 fiscal year just ended, but America’s fiscal crisis has just begun. In 2010, the Congressional Budget Office’s (CBO) preliminary estimates show that the federal government spent $3.45 trillion, amassing a deficit of $1.3 trillion. Spending on entitlement programs, which include Medicare, Medicaid, and Social Security, comprised 41 percent …
Should the Tea Party movement throw the likeliest bums out of Congress, conservatives still will need to be vigilant, RedState founder Erick Erickson told a Heritage audience Thursday afternoon. Otherwise, he said, surviving legislators – as well as the new guys – will fall back into spend-happy ways. Following the …
In late September–early October, China’s People’s Liberation Army Air Force (PLAAF)’s SU-27 fighters participated for the first time in the Turkish military’s aerial maneuvers. By including the PLAAF in these maneuvers (known as “Anatolian Eagle”) Ankara is signaling another shift in its geopolitical orientation, as well as the emergence of …
Preliminary figures from the Congressional Budget Office (CBO) show that Washington ran a $1.291 trillion deficit in 2010, just slightly less than last year’s $1.416 trillion. To put these figures in perspective, the annual budget deficit between 1789 and 2008 never reached $500 billion. As a percentage of the gross …
The outlook for seniors’ Medicare Advantage (MA) plans is grim under the new health care law. Though seniors’ premiums will drop 1 percent in the new year, this will be the exception to the rule over the next decade. Medicare Advantage is a popular alternative to traditional fee-for-service, allowing seniors …
