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  • USDA Says Don't Eat Meat, and Then Buys Meat

    When does the U.S. Department of Agriculture (USDA) say you should eat meat? It depends on the day. On July 23, the agency’s interoffice newsletter, Greening Headquarters Update, encouraged employees to participate in the “Meatless Monday” initiative that was supposed to help the environment. Three weeks later, on August 13, … More

    Postal Service Finances: Yes, It Can Get Worse

    It is becoming hard to keep the billions of dollars in missed payments and recorded losses by the U.S. Postal Service (USPS) straight. Today, tack another multibillion-dollar chunk of change onto the list: The USPS reported a third-quarter net loss of $5.2 billion, bringing year-to-date losses to $11.6 billion. But … More

    Postal Service in Default: The Beginning of the End?

    Today the U.S. Postal Service (USPS) will default on $5.5 billion in payments to the Treasury for future retiree health benefits. That is no small sum, to be sure. But much to the dismay of the USPS—and the ire of taxpayers—it marks the first of several anticipated and potentially larger … More

    Needless and Irresponsible Delays on Congressional Appropriations

    After weeks of decent progress in advancing the fiscal year (FY) 2013 appropriations bills—the annual spending bills that finance the operations of government agencies—the process, disappointingly, appears to be stalling. According to CQ Budget Tracker: Although both chambers will work on appropriations bills this month, Congress appears unlikely to clear … More

    Congress Must Address Both Defense Sequestration and Deficits

    Earlier this week, the Obama White House criticized Members of Congress for examining the effects of the $1.2 trillion in automatic spending cuts scheduled to kick in next year. Instead, the Administration said it would prefer that lawmakers turn their attention to longer-term deficit reduction proposals. But this is not … More

    Clinton Agrees with Heritage: Stop Taxmageddon from Happening

    Yesterday, former President Bill Clinton agreed with the strong message The Heritage Foundation has sent Congress and the President: Prevent Taxmageddon from taking place—and do it now. The 42nd President stated: What I think we need to do is find some way to avoid the fiscal cliff, to avoid doing … More

    Fix Entitlement Programs to Save the American Dream

    The latest installment in a National Public Radio (NPR) series considers how entitlement programs impact Americans’ opportunities. This is a welcome discussion, because growing entitlement spending threatens the American dream for people of all generations. Spending on the three main entitlement programs—Medicare, Medicaid, and Social Security—is projected to double as … More

    Setting Obama's "Great Fiscal Restraint Record" Straight

    The Obama Administration is piggybacking on claims made by MarketWatch’s Rex Nutting that Obama has not gone on the spending spree everyone thinks he has since taking office. As White House press secretary Jay Carney puts it, President Obama has exercised “significant fiscal restraint” and “acted with great fiscal responsibility.” … More

    The California Conundrum: New, Costly High-Speed Rail vs. Massive Budget Deficit

    What do $16 billion and $68.4 billion have in common, other than the fact that each of these figures dwarfs JPMorgan Chase’s recent loss? The former is how deep in the red the California state budget sits currently. The latter is the latest in a series of roller-coasting cost estimates … More

    JPMorgan Loses $2 Billion; Still Beats Postal Service

    JPMorgan Chase’s $2 billion trading loss is top news nationwide. But over at the U.S. Postal Service (USPS), such losses are business as usual. USPS reported a typical (for it) $3.2 billion loss for the most recent quarter. Try that comparison on for size. JPMorgan Chase incurred a “whale” of … More