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  • budget deficit

    U.S. Trade Deficit: Made in Washington, D.C.?

    The Treasury Department recently reported that China and Japan are the largest foreign holders of U.S. government debt. China now owns $1.317 trillion in U.S. government debt. Japan owns another $1.186 trillion. It is no surprise that China and Japan are also the two countries with which the United States … More

    Obama Agriculture Cuts Nearly Three Times More Than House and Senate Bills

    The “farm bill” affects all Americans, not just farmers. After all, everyone eats and wants affordable food to feed their families. Yet as is typical, the House and Senate generally ignore the needs of consumers who buy food and the taxpayers who pay the subsidies that are transferred to wealthy … More

    CBO Report's Facts Speak Louder Than Obama's Spending and Debt Crisis Denial

    The release of today’s Congressional Budget Office (CBO) report on the long-term budget outlook sends one message loud and clear: The U.S. spending and debt crisis is only getting worse. U.S. public debt doubled since before the recession and stands at a 50-year high today. The American public has not … More

    How to Cut $42 Billion in Spending in the FY 2014 Continuing Resolution

    Congress is in the midst of debating spending levels in a fiscal year (FY) 2014 continuing resolution. It’s no surprise that the two chambers disagree over how much to spend and funding for the President’s damaging health care law. The Senate proposes to spend $1.058 trillion, dismissing the spending caps … More

    Americans Don’t Need More of Obama’s Stimulus Spending

    In a series of campaign-style speeches, President Obama has laid out recycled economic proposals, which include yet another tax increase to pay for $50 billion in new infrastructure stimulus spending. This after Washington already spent $70.6 billion under the American Recovery and Reinvestment Act in 2009. The trouble is that … More

    Greece: Austerity Doesn’t Involve Public-Sector Layoffs

    Slate’s Matthew Yglesias might be attacked as an “austerity denier” now that he has joined Heritage’s Salim Furth in pointing out that there is a lot of policy diversity under the broad label of “austerity.” Yglesias explained last week why a small but sudden layoff of government employees might bring … More

    Cut Government Spending to Help the Economy? Majority Say Yes

    A recent Rasmussen poll (subscription required) found that 65 percent of likely voters want the government to cut spending to help alleviate the country’s economic woes. Four years after the official end of the recession in June 2009, the economy is growing sluggishly. As The Wall Street Journal reports today, … More

    Obamacare 2023: 31 Million Uninsured, $1.8 Trillion in Taxpayer Dollars Spent

    A poll released last week by InsuranceQuotes reveals that 64 percent of the uninsured are uncertain whether they will purchase insurance coverage once Obamacare takes full effect next year. This is not surprising, as Obamacare is projected to leave more people uninsured than it actually helps gain coverage. According to … More

    This Week’s Reasons to Repeal Obamacare

    It has been over three years since Obamacare became law. This week, the House voted again to completely repeal it. There are plenty of reasons to repeal Obamacare, especially before its most egregious provisions begin next year, and just this week a few more were added to the list: Small … More

    One of America’s Biggest Exports: Treasury Securities

    The Bureau of Economic Analysis (BEA) recently released statistics on U.S. exports for January, but failed to mention of one of the biggest U.S. “exports”—federal Treasury securities. In 2012, the government financed its deficit spending by selling $382 billion in Treasury securities to foreign buyers. To put that in perspective, … More