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    Moody's: Further Deficit Reduction Needed to Maintain Stable Outlook

    Moody’s changed the outlook on the U.S. credit rating from negative to stable this week, citing improving deficits. While this is good news, policymakers should curb their enthusiasm about what this means for the U.S. debt situation. The improvement could be fleeting, as Moody’s relies heavily on favorable economic growth … More

    Missile Defense: Independent Working Group Holds Valuable Seminar

    In recent days, the House of Representatives and the Senate Armed Services Committee adopted different versions of the National Defense Authorization Act for fiscal year 2014. They both include provisions for small increases in funding for the Missile Defense Agency—over the Obama Administration’s request. On June 25, the Independent Working … More

    'Tis the Season: Sequester Furloughs Start

    Yesterday marked the beginning of sequestration’s furlough period. Most of the Department of Defense’s roughly 800,000 civilian workers will go without pay for about one day a week every week until September 30. These furloughs do not address the Pentagon’s long-term fiscal challenge. The furloughs are a result of the … More

    Senate Passes Bill That Fails to Fix Immigration and Border Security

    “The Americans will always do the right thing,” Winston Churchill (who was half-American) once declared, “after they’ve exhausted all the alternatives.” The Senate proved today—in passing a massive, complicated, budget-busting bill that fails to fix our flawed immigration system and broken borders—that it has not yet exhausted all its alternatives. … More

    Greece: Austerity Doesn’t Involve Public-Sector Layoffs

    Slate’s Matthew Yglesias might be attacked as an “austerity denier” now that he has joined Heritage’s Salim Furth in pointing out that there is a lot of policy diversity under the broad label of “austerity.” Yglesias explained last week why a small but sudden layoff of government employees might bring … More

    Cut Government Spending to Help the Economy? Majority Say Yes

    A recent Rasmussen poll (subscription required) found that 65 percent of likely voters want the government to cut spending to help alleviate the country’s economic woes. Four years after the official end of the recession in June 2009, the economy is growing sluggishly. As The Wall Street Journal reports today, … More

    Speaker Boehner: What’s “Free Market” About the Farm Bill?

    The latest House action on the $1 trillion farm bill comes straight from the playbook “Do as I Say, Not as I Do.” House Speaker John Boehner (R–OH) says: “I am a proud advocate for free markets and fair trade.” Representative Frank Lucas (R–OK), chairman of the House Committee on … More

    House Farm Bill Would Outspend Obama on Most Expensive Farm Program

    The House farm bill would spend more than Obama on the most expensive farm program. Yes, you read that right. President Obama hasn’t all of a sudden become a fiscal conservative, but even he evidently recognizes how out of hand the crop insurance program has become. When it comes to … More

    WATCH: Discussion on the Cost of Amnesty

    Yesterday, the CBO released its score of the Gang of Eight’s immigration bill. Heritage’s Derrick Morgan began analyzing the numbers immediately and saw major problems. The Gang of Eight bill: WILL NOT stop illegal immigration – Despite promises of a secure border, the bill would slow future illegal immigration by only 25 percent, according … More

    Morning Bell: Congress Is Trying to Fool You on Immigration

    Congress is trying to fool you. Here’s how they do business. A piece of legislation is going to cost trillions of dollars, but Members of Congress don’t want the public to see that. Instead, they have the Congressional Budget Office (CBO) look at the bill for just the first 10 … More