The federal government ran a budget deficit last month of $223 billion, according to recent analysis by the Congressional Budget Office (CBO). With deficits consistently running to levels almost beyond human comprehension, it would be easy to miss the fact that this was the largest single-month deficit on record. So, …
Yesterday, the Government Accountability Office (GAO) released a 345-page report detailing 34 major areas of wasteful government spending that Sen. Tom Coburn (R–OK) says could save the federal government $100 billion or more every year. Conservatives jumped on the news, with House Majority Leader Eric Cantor’s (R–VA) office releasing a …
Medicare and Social Security are important retirement security programs for millions of Americans. But they are ticking time bombs with trillions in future unfunded obligations that will bankrupt America if they are not changed. Though awareness of this critical situation continues to grow, Americans remain reluctant to support reform, understandably …
Uncle Sam is spending you into the poorhouse. Taxes, inflation, unemployment, interest rates – all could skyrocket if Washington keeps spending trillions of dollars it doesn’t have. Unless we begin to cut spending now (a lot of spending) these four horsemen of debt will ride roughshod over families and businesses …
“We have an Administration that is saying, we want you to vote on the debt ceiling and continue business as usual. No reforms, no cuts in spending,” explains Senator Pat Toomey (R-PA). With pragmatic perspective and common-sense suggestions, Toomey debunked the debt limit hysteria in a speech at The Heritage …
Many of the freshmen serving in the 112th Congress were elected last November riding a wave of Tea Party activism, fueled in part by frustration over out-of-control government spending. This week they’ll have an opportunity to show the American people they’re living up to their promises as the House of …
Since President Barack Obama was sworn into office total entitlement spending has grown 4%, total discretionary has soared 16%, and the national debt has exploded 43%. Over that same time the United States economy has lost 3.3 million jobs. President Obama cannot be blamed for the most recent recession, but …
House Republicans are now pledging to reduce fiscal year 2011 discretionary spending to $100 billion below President Obama’s original request. As reported, this new budget proposal would: Unwisely reduces security spending by $16 billion relative to President Obama’s request; and Reduce non-security spending by $84 billion relative to President Obama’s …
