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  • Trustees Report: Social Security and Medicare are Unsustainable

    The Social Security and Medicare Trustees today released their annual reports on the fiscal condition of the programs, and the situation for these programs is still dire. Although the programs’ fiscal health hasn’t worsened since last year, both programs are still on an unsustainable course. Most significantly, the programs are … More

    CBO Warns of the Risk of a U.S. Fiscal Crisis

    It’s difficult to forget the drama—including riots, fires, and even deaths—that unfolded during Greece’s recent fiscal crisis. But what would happen if bad budget policy led to a financial crisis in the United States? A recent report from the Congressional Budget Office (CBO) points out the economic casualties of a … More

    Think Tax Day Is Expensive This Year? Just wait.

    As federal income taxes come due this Thursday, Americans are well aware of just how expensive government is becoming. But as the Wall Street Journal warned today, we ain’t seen nothing yet. Obama’s go-to strategy for cutting the deficit is to tax the so-called rich, but this would send tax … More

    Check Out the 2010 Budget Chart Book--New and Improved!

    The federal budget is on an unsustainable course with red ink as far as the eye can see, so it is especially important for Americans to understand spending, taxes, and debt.

    The Heritage Foundation’s Budget Chart Book is a user-friendly way to learn about the federal budget in pictures. More

    One Year Later: Obama’s Economic Hopes Are a Year Late and $13 Trillion Short

    When President Obama was inaugurated one year ago, the US economy was struggling. In his address he noted: “The state of our economy calls for action, bold and swift.  And we will act, not only to create new jobs, but to lay a new foundation for growth…All this we can … More

    Shhh…CONGRESS IS RAISING THE DEBT LIMIT

    Congress doesn’t want you to know it, but they are about to raise the debt limit because they’ve spent the full $12.1 trillion allowed on their taxpayer-funded credit card. They’re hoping you won’t notice because they’re trying to sneak the increase into some other “must-pass” measure, such as the upcoming … More

    10 Democrats Stand Up for Fiscal Discipline--Will Leadership Follow?

    Ten democratic Senators recently issued an important call to action for Majority Leader Harry Reid to support efforts to get America’s long-term fiscal imbalance under control. One can only hope Senator Reid listens. As the letter notes, America is already $12 trillion in debt and, in the next decade, will … More

    Government Has Twins! (You Get to Raise Them)

    Social Security and Medicare are already tens of trillions of dollars in debt, and if Obama’s national health care program is passed, that will add another $9 trillion in debt. All of that debt gets to be paid for by you, dear taxpayer. As this clever video shows, that’s like … More

    House Health Care Bill Yields $9.2 Trillion in Deficits

    Members of Congress have been working frantically to bring the cost of the health care bill below $1 trillion, make it “deficit-neutral,” per the President’s instructions, and meet Blue Dogs’ expectations that it be “paid for.” As the Congressional Budget Office has pointed out, so far they’ve had no such luck. But the bigger … More

    News Flash: National Health Care Will Be Expensive!

    The non-partisan Congressional Budget Office (CBO) recently warned that entitlement-driven growth is unsustainable and would debilitate the economy over the long-term. In their best-case scenario, the national debt would become three times the size of the entire economy in the next 75 years. (In 2008, debt was about two-fifths of … More