Later this month, the Obama Administration is expected to submit a plan to Congress seeking additional power to cut specific items from spending bills. This proposal is commonly called the “Line-Item Veto,” named after the law ruled unconstitutional in the 1990’s. However, line-item vetoes did not require Congressional approval, while …
Over the past decade, federal spending has leaped 62 percent faster than inflation, to more than $30,000 per household. Not content with this expansion of government, President Obama’s budget would push inflation-adjusted spending to nearly $37,000 per household by the end of this decade. This would create sustained trillion-dollar budget …
Greece’s recent escapades in economic disaster are a sobering example to the United States of the consequences of allowing government spending to far exceed revenue. But though Americans’ concern regarding the financial outlook of the federal government grows, those with the power to act something seem largely unaffected. The International …
The term ‘fiscal responsibility’ is en vogue in Washington these days. Lawmakers have been quick to claim they will tackle the federal government’s impending financial crisis, a claim showcased by the President’s commission to reduce the federal deficit. But Congress’ recent behavior proves they are no more serious about reining …
In his latest New York Times column, Paul Krugman manages to make some useful observations before slipping into his usual role of distorting propagandist. His most important observation is in his title, “We’re Not Greece”. For that matter, we’re not Portugal or France, either, for all of which we can …
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 …
