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    Building a Foundation for Budgetary Failure

    The title to President Obama’s budget refers to a new era of responsibility. Responsible budgeting begins with credible economic forecasts. The Obama economic forecast doesn’t merely reflect the return of the famous Rosey Scenario, but puts Rosey in fantasyland. Don’t take my word for it, just look at the numbers … More

    Democrat Leadership Drops All Pretense of Fiscal Restraint

    With Election Day not yet a month past, the Democrat’s promise of fiscal responsibility has already been ditched. Wednesday, The Hill newspaper reported: Even the most ardent deficit hawk among House Democratic leaders says the cost of overhauling the nation’s healthcare system will be heaped on top of the snowballing … More

    Lies, Damned Lies, and…the Undeniable Truth

    Most people are skeptical about statistics, claiming that mathematically-minded people just bend numbers to their will. But when it comes to long term budget projections, economists from the left, right, and center all agree we on an unsustainable course, and that the entitlements—Social Security, Medicare, and Medicaid—are the main driver … More

    Apparently Budgetary Tradeoffs Don’t Apply to New Presidents

    Has the Blue Dog Coalition given up on their version of fiscal responsibility? Jim Cooper (D-TN), leader of the Blue Dogs – the self-described fiscally-conservative group of congressional Democrats – was quoted in a Wall Street Journal op-ed announcing, “I’m not sure the old rules are relevant anymore… It would … More

    An Economist's Memo to Obama

    Harvard economist Greg Mankiw’s letter to President-elect Barack Obama offers some great suggestions for the next four years: Congratulations, Senator Obama. You ran a good campaign, and you racked up an historic victory. As you get ready for your new responsibilities, let me suggest four ways for you to become … More

    Congress Must Save Vital 'Responsive Space' Program

    A recent article I wrote for Armed Forces Journal discusses the Pentagon’s efforts to maintain space dominance amid the challenges of emerging peer competitors. The Pentagon’s Operationally Responsive Space (ORS) office stands at the forefront of an effort to revolutionize the way the U.S. builds and deploys satellites. However, only … More

    What Should Congress Do to Help the Economy?

    Following the testimony this morning of Federal Reserve Chairman Ben Bernanke, the House Budget Committee turned to three economists for their recommendations. Bill Beach, director of Heritage’s Center for Data Analysis, outlined his views on crafting a long-term, pro-growth economic policy. Here’s video of his opening statement: [youtube]http://www.youtube.com/watch?v=LIfVkAL55ck[/youtube]

    Want to Cut Government Waste? Here's a Place to Start

    John McCain made a point of mentioning Citizens Against Government Waste during all three presidential debate. He cited the National Taxpayers Union in the last two. Today both organizations responded with a list of government waste that’s just waiting to be cut. NTU’s research arm, the National Taxpayers Union Foundation, … More

    Morning Bell: Bring Honesty Back to War Funding

    When Treasury Secretary Henry Paulson first announced his $700 billion Wall Street rescue plan, Sen. Chuck Schumer (D-NY) promised: “We will not Christmas-tree this bill. The times are too urgent. Everyone has their own desires and needs. It’s going to have to wait.” So how did Congress live up to … More

    The Democrat Majority’s Fuzzy Logic

    The Democratic majority’s line of logic appears to work something like this: If taxpayers can afford to spend $700 billion to bailout out the battered financial markets, then they can surely afford to spend $25 billion to bailout the auto industry, $61 billion on bogus “emergencies,” $24 billion for disaster … More