With the commander in chief refusing to address the crippling, automatic cuts to national defense scheduled to start on January 2, Congress is appropriately stepping up and demanding answers. That is the aim of the Sequestration Transparency Act of 2012 (H.R. 5872), which is being taken up in the House …
Proof of President Reagan’s wisdom keeps cropping up. A fresh example: The U.S. has retained its AAA credit status with Fitch Ratings, mainly due to the fundamental strengths of its free-market economy; but a long cloud threatens the outlook—and it comes from the government’s increasingly unstable fiscal condition. In short, …
Both the House and the Senate are proceeding with appropriations, the annual spending measures due by the start of the new fiscal year on October 1. Appropriations, which make up about one-third of the federal budget, are “discretionary” spending, meaning they require annual legislative approval. By contrast, mandatory or “direct” …
The Senate Budget Committee stretched a few definitions in announcing yesterday’s “Mark-Up of the Concurrent Resolution on the Budget for Fiscal Year 2013.” Turns out it’s not really a budget resolution, per se, and there will be no formal committee action on it—no amendments, no vote, no real committee-adopted fiscal …
Buried deep in the President’s hyperbolic assault on the House-passed budget last week—with all that “radical vision” and “social Darwinism” rhetoric—was one kernel of truth: “This isn’t a budget supported by some small rump group in the Republican Party,” the President said. “This is now the party’s governing platform. This …
Hats off to the Senate parliamentarian, who apparently has rebuffed the Democratic leadership’s latest excuse for failing to bring a budget to the floor—something the Senate hasn’t done for nearly three years. Since February, Majority Leader Harry M. Reid (D–NV) and his lieutenants have claimed the Budget Control Act (BCA)—spawn …
If President Obama wants to challenge the House Republican budget passed last week, he certainly should. His views would be more enlightening, however, if they actually said something substantial, instead of the shrill hyperbole he repeated today. In a speech at an Associated Press luncheon, Mr. Obama branded the House …
The Republican Study Committee (RSC) budget introduced today addresses six key fiscal criteria. It launches decisive entitlement reforms, cuts spending sharply and quickly, avoids tax hikes, includes pro-growth tax reform, provides for a strong national defense, and moves aggressively—within five years—to a balanced budget. The plan falls short in substantiating …
There are six key elements to a successful federal government budget, including the plan released today by House Budget Committee chairman Paul Ryan (R—WI): Does it cut spending sharply and quickly? Does it begin decisive entitlement reform? Does it avoid any tax hikes? Does it ensure a strong national defense? …
The Congressional Budget Office (CBO) estimate of the President’s budget reveals a reckless fiscal plan that shirks the spending cuts in the Budget Control Act and increases spending by more than $1 trillion over the next 10 years. It confirms that Obama is the first President to preside over four …
