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    One Year After Oil Spill Was Stopped, Drilling Permits Down Sharply

    The Obama administration is approving deepwater drilling permits at a pace of just 1.7 per month — a dramatic drop that is jeopardizing thousands of jobs for struggling families in Louisiana and neighboring states. The latest figures from the Bureau of Ocean Energy Management, Regulation and Enforcement also reveal a … More

    Liberal Think Tank Fails Statistics

    A chart created by the Center on Budget and Policy Priorities (CBPP) has been circulating among liberal bloggers such as Ezra Klein, James Fallows, and Andrew Sullivan. The chart, seen to the right, purports to show that the next decade’s deficits are entirely the result of the 2001 and 2003 tax … More

    Heritage in Focus: Rep. Ryan's Budget Proposal

    Representative Paul Ryan’s (R- WI) budget proposal has been analyzed by Heritage experts: “It is an immensely detailed budget; I’m so impressed with it,” says Heritage economist Bill Beach, in a new Heritage in Focus. In this podcast, Mr. Beach discusses Rep. Ryan’s proposed trillions of dollars in budget cuts, … More

    Budget Deficits Undermine U.S. Trade Policy Agenda

    The Office of the U.S. Trade Representative (USTR) just released its 2011 Trade Policy Agenda, which highlights several initiatives designed to boost exports. Nowhere in the 443-page document is a mention of the biggest barrier to U.S. exports: the federal budget deficit. Budget deficits require the government to borrow money … More

    New Statistics Demonstrate Need for Action on Trade Agreements and Budget Deficit

    The U.S. Commerce Department today reported that the country’s 2010 trade deficit was $497.8 billion, an increase of $122.9 billion from 2009. Exports increased from $1.57 trillion to $1.83 trillion, and imports increased from $1.95 trillion to $2.33 trillion. Increased imports are often a sign that the U.S. economy is … More

    Spending Cuts Are Good for the Economy

    Reducing budget deficits by cutting government spending has a stronger record of economic stimulus than either reducing the deficit with tax increases or increasing government spending. That’s what Harvard economists Albert Alesina and Silvia Ardagna have found in their recent research. They examined 107 instances of large reductions (at least … More

    Commission Should Focus on Bipartisan Solutions to Social Security Reform

    Serious doubts surround President Obama’s National Commission on Fiscal Responsibility and Reform, which has been tasked to make recommendations to Congress to reduce the federal deficit. Many fear that the commission will recommend the creation of a value-added tax (VAT) or similar tax increases to pay for Washington’s reckless spending. … More

    Outside the Beltway: Despite Loads of Debt, Pork Projects Abound in Illinois

    With a looming state budget deficit of nearly $13 million, many Illinois residents are wondering if their state has its priorities in order. Last night, ABC7 Chicago’s Chuck Goudie revealed $67 million in recent state payments (PDF) for a variety of pet projects. While the state wrestles with the ramifications of … More

    Irony Alert: Debt Commission is Running Out of Money

    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 … More

    Why China is Not an Economic Threat to the United States

    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 … More