President Obama will host a three-hour “Fiscal Responsibility Summit” at the White House Monday to “underscore how big the problems are.” Sixty members of the House and Senate, and representatives from various think-tanks and advocacy organizations from across the political spectrum will attend in an effort to sort out the …
The “Economic Stimulus” bill, expected to be signed by President Obama today, will have yet another frightening long-term consequence. A report, issued by Moody’s Investors Service, said the increase in debt could have a negative impact on the country’s triple-A credit rating. An understatement to be sure. Steven Hess, a …
After making news earlier this week for promising to make Social Security and Medicare reform a “central part” of his plan to curtail federal spending, President-elect Obama has pledged to hold a “fiscal responsibility” summit focusing on entitlement reform. Although the devil is in the details, facing up to the …
Government spending does not create economic growth. Regrettably, many in Congress, Republicans and Democrats alike, have ignored this fact. Just today, Senator Judd Gregg (R-NH), declared in his Wall Street Journal op-ed How to Make Sure the Stimulus Works that, “it is fairly obvious that serious deficit spending is needed …
The crowd eager for a handout from the upcoming economic stimulus bill is growing. On December 8th, the US Conference of Mayors presented their wish list. The report, entitled “Mainstreet Economic Recovery,” lists 11,391 local infrastructure projects with a price tag totaling $73.2 billion. Unfortunately, the list is basically a …
Another economic stimulus bill is imminent, and early reports put the potential price-tag around $700 billion. With such an astronomical figure being considered, it is no surprise the special interest lobbyists have taken notice. Everyone wants part of the latest government hand out. From bailouts for states in financial trouble …
With Election Day not yet a month past, the Democrat’s promise of fiscal responsibility has already been ditched. Wednesday, The Hill newspaper reported: Even the most ardent deficit hawk among House Democratic leaders says the cost of overhauling the nation’s healthcare system will be heaped on top of the snowballing …
Has the Blue Dog Coalition given up on their version of fiscal responsibility? Jim Cooper (D-TN), leader of the Blue Dogs – the self-described fiscally-conservative group of congressional Democrats – was quoted in a Wall Street Journal op-ed announcing, “I’m not sure the old rules are relevant anymore… It would …
Congress is expected to vote on a stimulus package after the election. This package may include various spending increases including funding for infrastructure, and bailouts for states facing budget shortfalls. Unfortunately, proposals made thus far are emblematic of a failed approach. Increased spending, whether it is in the form of …
With the election still a week away, Congressman Barney Frank (D-MA), chairman of the House Financial Services Committee, is already setting the stage for drastic cuts in defense spending, higher taxes, and bigger government. In a meeting with the editorial board of The Standard-Times, a local Massachusetts newspaper, Rep. Frank …
