In an ode to irony, The Fiscal Times reports that President Obama’s Commission on Fiscal Responsibility and Reform (more popularly known as the “debt commission”) is running out of money: President Obama’s bipartisan fiscal commission is operating on a shoestring budget and some panel members and lawmakers worry that it …
Recent reports of China’s economic growth contrasted with the U.S. economic downturn have left Americans increasingly concerned that China is becoming a new superpower, controls American finances and will surpass the United States as the world’s leading power. The reality is that the fundamentals of the American economy are stronger …
Just one year after President Barack Obama took office, we released the 16th edition of the Index of Economic Freedom in both Hong Kong and Washington. Once again, it provides empirical evidence that economic freedom is the pathway to prosperity. The good news is that despite the global economic crisis, …
Today, the House of Representatives passed the $32.2 billion Interior-Environment Appropriations conference report, including a continuing resolution to fund the remaining portions of the federal government at FY2009 levels until December 18th. This bill, a 17 percent increase over last years levels, represents Congress’s continued disregard for mounting federal debt …
During tonight’s address to Congress, President Obama is expected to repeat his contention that health care reform should reduce federal health care costs and not expand the budget deficit. The House health bill (as amended by the Energy and Commerce Committee) fails those standards according to a new Lewin Group …
President Obama celebrated his 48th birthday yesterday, but instead of being showered with gifts, he handed the American people the biggest present of all: one trillion dollars in new debt. Since Obama was inaugurated in January, the national debt has grown over one trillion dollars to a whopping $11.669 trillion. …
Heritage’s J.D. Foster on the deficit: “President Obama talks about responsibility, but the budget deficit this year is approaching $2 trillion and the national debt is set to double in just four years. Imagine what he would deem irresponsible! Yes, he inherited a plunging economy and soaring deficit. But then …
When the non-partisan Congressional Budget Office (CBO) released their original estimate of President Obama’s Budget , they said it was going to be expensive: in ten years the President would accumulate over $9 trillion in deficits. Turns out, that was low-balling it. In their original estimate, CBO assumed that interest …
