Responding to the sticker shock of the Congressional Budget Office’s projected record $1.2 trillion budget deficit, President-elect Barack Obama said: We will — we are working currently on our budget plans. We are beginning consultations with members of Congress around how we expect to approach the deficit. We expect that …
Two days into the new Congress, the majority has signaled they are unlikely to take their promise of fiscal discipline seriously. House democrats have turned off the Medicare trigger under the rules package for the 111th Congress, which means they are unlikely to even debate entitlement policy, let alone engage …
Earlier this week the Treasury Department released its 2008 Financial Report of the U.S. Government. According to the report, while government revenues stayed relatively flat, increasing only 1%, the government’s net operating cost more than tripled from the prior fiscal year. The report warns: “In both the near and long …
On Nov. 4, Sen. Saxby Chambliss (R-GA) narrowly outpolled challenger Jim Martin (D), 49% to 46%, triggering a runoff election held yesterday. This time around, Chambliss crushed Martin by a margin of 57% to 43%. Why the difference? The New York Times reports: Many voters interviewed Tuesday said the balance …
Most people are skeptical about statistics, claiming that mathematically-minded people just bend numbers to their will. But when it comes to long term budget projections, economists from the left, right, and center all agree we on an unsustainable course, and that the entitlements—Social Security, Medicare, and Medicaid—are the main driver …
Barack Obama has spent more money on political advertising than any campaign in history. In the case of his 30-second spot, “Try This,” we’d like the Democrat presidential to try honesty instead. The misleading and false ad suggests The Heritage Foundation supports his tax plan. Nothing could be further from …
