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  • budget deficits

    Krugman Still Wrong on Federal Spending and the Economy

    A not-so-small cottage industry has grown up refuting liberal economist Paul Krugman’s public pronouncements. It’s not a hard industry to join, and there’s plenty of work, but it can be repetitive. Even so, Krugman’s recent writings opposing federal spending cuts for the sake of the economy are sufficiently troubling to … More

    Morning Bell: 10 Facts on the Fiscal Cliff, Debt, and Spending

    Budget policy in 2012 was characterized by deficit spending, major increases in the national debt, and a heated debate over the “fiscal cliff.” With just days left for President Obama and lawmakers in Congress to avert a major tax hike, sequestration, and other major policy changes, today we bring you … More

    One Year Later: Myth vs. Fact Video on Wisconsin's Budget Reforms

    One year ago all eyes were on Wisconsin as labor unions stormed the Capitol building in Madison to protest Republican Gov. Scott Walker’s budget reforms. Heritage sent a team to cover the demonstrations. We’re showcasing our myth vs. fact video again today, one year later, given the ongoing debate over … More

    Chart of the Week: U.S. Presidents Ranked by Budget Deficits

    Over the past 50 years, 10 U.S. presidents have made annual budget requests to Congress, projecting deficits both big and small. But no other president compares to Barack Obama when it comes to the size and scale of the current budget deficit facing the United States. The country is facing … More

    Morning Bell: Blame the Washington Bureaucracy for High Gas Prices

    Americans are paying more for gasoline today than they were six weeks ago when President Obama released 30 million barrels of oil from the Strategic Petroleum Reserve. In the Gulf of Mexico, meanwhile, 10 drilling rigs — more than one-third of the fleet — have left on Obama’s watch. This … More

    Guest Blog: Sen. Rob Portman on Job Creation and Economic Growth

    In my maiden Senate floor speech, I focused on the budget and economic issues we face and how our burgeoning debt and deficit is directly linked to the sluggish pace of job creation and economic growth in states like Ohio. As I said during the speech, I believe the twin … More

    Preview of President's Budget Leaves a Lot to Be Desired

    Next week, President Obama will release his budget proposal for fiscal year 2012. Though the President’s budget carries no real legislative weight, it will showcase his financial priorities and the seriousness of his rhetorical commitment to rein in federal spending. A recent New York Times article by Jacob Lew, the … More

    Dissecting the House Budget Committee’s 2011 Budget Cuts

    House Budget Committee chairman Paul Ryan (R–WI) has released a fiscal year (FY) 2011 budget target. This target—302 allocation in budgetary parlance—was necessary since the previous congressional Democratic majority failed to pass a 2011 budget resolution or even enact a single 2011 appropriations bill. Instead they passed a continuing resolution … More

    Big Spending, Not Tax Cuts, Drive U.S. Budget Deficits

    The left wants you to believe that we must pass the Obama tax hike because low taxes on wealthy Americans are the cause of our nation’s budget deficits. For example, Speaker Nancy Pelosi (D-CA) told Christiane Amanpour on This Week last month: “I don’t see any reason why we should … More

    Rethinking Big Government

    As Congress returns to Washington, the crucial decisions that await lawmakers will have enormous financial ramifications for the country for years to come. House and Senate leaders continue their struggle to land a health care bill on the President’s desk this month, even though proposed legislation would add to the … More