• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • Debt Ceiling Plan to Cut Only $1.7 Trillion When Adjusted for Inflation

    The Congressional Budget Office (CBO) announced yesterday that the Budget Control Act of 2011 would lead to $2.1 trillion in deficit reductions. But the CBO’s letter to congressional leaders is somewhat misleading. Table 3 of the document shows how much in discretionary and mandatory deficit reduction the CBO estimates would … More

    Soaking the Rich to Raise the Debt Ceiling Won’t Solve Spending Problem

    In the debate about raising the debt ceiling, the reality is often lost that the top 10 percent of income earners—those making more than $113,799 in 2008 (the latest year available from the IRS)—already pay 69.9 percent of the income taxes. The same top 10 percent, however, earn only 45.8 … More

    Barron's Roundtable Market Pros Blame Washington for the Economic Doldrums

    Barron’s magazine published their mid-year round-table discussion with ten money managers and financial market experts on Saturday. The ten are unanimous in their belief that slower economic growth is in store for the second half of 2011. Slower economic growth makes it harder to find or keep a job. It … More

    The 2010 Index of Dependence on Government

    The Heritage Foundation’s 2010 Index of Dependence on Government, published today, showcases the disturbing trend of Americans becoming more dependent on their government – via their fellow non-dependent tax paying Americans – than ever before. The surge in the Index of 13.6% over last year takes the Index to an … More

    Coverdell Education Accounts Are in Danger of Becoming Less Useful

    Coverdell Education Savings Accounts were created in 2001 to provide parents with more options to pay for their children’s elementary, secondary, and college education. Unless Congress quickly takes action, those accounts will no longer be allowed to fund secondary and elementary school expenses. President Obama often talks of helping Main … More

    Self-Reliance: Better Than Government Dependence

    A just released report by the Sutherland Institute introduces a metric—the Self-Reliance Index—that can be used to track people’s reliance on government and lack of self-sufficiency. You might call it the opposite of The Heritage Foundation’s Index of Dependence on Government. The report notes, “Government aid only creates an illusion … More

    Economic Suicide by Debt or Taxes

    An interesting, if alarming Op-Ed in the Washington Times by Ernest Christian and Gary Robbins this week, outlines what is likely to happen due to Washington’s Devil-may-care spending habits. The authors point out that according to the Obama administration’s planned budget, the gross national debt will reach 123% of GDP … More

    Long-term Unemployment Still Too High

    The stock market reacted favorably this morning when it was announced that the number of people on payrolls fell by 36,000 in February, better than the 50,000 loss expected by economists. The unemployment rate held steady at 9.7%, also slightly better than expected. Another indicator that may have received less … More

    A Bag Idea: DC’s Newest Tax Hurts Businesses, Consumers

    DC lawmakers tried to sugarcoat the five cent per bag tax on store bought items, calling it a fee rather than a tax. The tax has been in effect in the District of Columbia since New Year’s Day. Stories in the Washington Post, the Wall Street Journal, and other media … More

    Uncertainty From Washington Hampering Job Creation

    Businesses have to deal with nearly unprecedented levels of uncertainty due to Washington’s inability to give them a clear roadmap of what policy changes lay ahead. A large part of this uncertainty is about the level of future taxes and increased regulations.  Businesses are reluctant to hire when they could … More