In one of heaven’s sweeter ironies, President Obama today launched the defense of his fiscal cliff proposal at a factory that makes…tinker toys. The setting perfectly reflected the Administration’s level of seriousness about the budget. The “plan,” presented to Republican leaders yesterday, consists of $1.6 trillion in tax hikes over …
In Washington, there is one issue on everyone’s minds: the “fiscal cliff.” With time running out before a massive tax hike strikes on January 1, and wide-ranging budget cuts scheduled to hit at the same time, the economy is bracing for another storm. Today, five public policy organizations including The …
Meet the fictitious Smith family, whose budget woes bear a striking resemblance to those of the federal government. As this new video released by the Republican Study Committee describes, the Smith family’s problem is that they spend way beyond their means. As a result, they have racked up a hefty …
Medicare at Risk: Visualizing the Need for Reform from The Heritage Foundation Medicare is shaping up to be a deciding factor in the debate over our nation’s future. As Heritage’s Bob Moffit and Alyene Senger explain in a recent paper, “Why Traditional Medicare Must (and Will) Be Reformed,” the status …
Several key questions still remain to be asked of President Obama and Governor Mitt Romney during tonight’s debate. Among them: What would each of them do to reduce the growing burden of federal spending on American households? In 2012, the federal government spent $29,700 per American household. Of that amount, …
In the first presidential debate, President Obama criticized Mitt Romney’s proposed defense budget plan as “$2 trillion in additional military spending that the military hasn’t asked for.” Two parts of this statement require clarification and context. First, the President failed to mention that this $2 trillion increase would take place …
The federal budget is reaching benchmarks of astronomical proportions. Hold your applause, though; the budget trends are increasingly headed in the wrong direction. Yesterday, the Congressional Budget Office (CBO) reported that the deficit for fiscal year 2012 has surpassed the $1 trillion mark, and it anticipates the Treasury Department will …
