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    For the Record: Tax Increases Are Harmful, but Europe Has Pursued Them Anyway

    Heritage economist Salim Furth gave testimony last week to the Senate Budget Committee, reminding the Senators that economic research shows that deficit reduction should be pursued through spending cuts, not tax increases. Now he has responded to written questions in detail and explored the exemplary 1990s budget cuts. There is … More

    A Hidden Cost: Failure to Reflect the True Cost of Operations Would Damage Readiness

    Among the amendments cleared for action during House consideration the National Defense Authorization Act (NDAA) for fiscal year 2014 is an amendment sponsored by Representative Chris Van Hollen (D–MD). It would reducing the funding level for overseas contingency operations (OCO), primarily for ongoing operations in Afghanistan, to the level in … More

    Washington Hits the $16.7 Trillion Debt Ceiling with $300 Billion in New Debt

    On May 19, the United States hit its debt ceiling after adding $300 billion in more debt since lawmakers suspended the ceiling in February. But the cash won’t run dry until at least Labor Day, according to Treasury Secretary Jack Lew, whose department can employ a variety of cash management … More

    Obama Budget: CBO Shows $1 Trillion Tax Hike, Fake Spending Cuts

    The Congressional Budget Office’s (CBO) official score of President Obama’s budget shows in numbers a vision for economic decline in America. The President imposes a tax increase totaling $1.1 trillion (and a net increase of about $1 trillion), some components of which would directly hit middle-class and lower-income Americans. On … More

    Quiet Before the Storm: CBO Reports $642 Billion Deficit in 2013

    At $642 billion, the Congressional Budget Office (CBO) reports, the 2013 deficit will be lower by $200 billion than previously forecast. In February, the CBO projected a deficit of spending over revenue of $845 billion, but a large and temporary boost in revenues is pushing that figure down. Like the … More

    Morning Bell: Ready for Another Debt Limit Fight?

    Yes, it’s time to talk about the debt limit again. Every time the U.S. bumps up against its debt ceiling, we start the cycle all over again. President Obama insists he won’t negotiate over the debt ceiling, but of course he will. Members of Congress grandstand about changing this vicious … More

    New Red Tape Rising Report: Regulation in Obama’s First Term

    Congress and the White House have been focused for much of this year on the federal budget—rightfully so, given perennial deficits and unsustainable levels of U.S. debt. However, federal spending accounts for only a portion of the burden placed on Americans by the government. Regulations impose huge additional costs, hindering … More

    Morning Bell: 5 Ways the Immigration Bill Is Like Obamacare

    Congress rammed Obamacare through without many Members even reading the bill. Now it’s applying that same frantic, complex, pie-in-the-sky legislating to immigration. The similarities are frightening. 1. Extreme Costs The Government Accountability Office now projects that under the most realistic scenario, Obamacare will add $6.2 trillion to the primary deficit … More

    Defense: Mismatch Between Strategy and Ability

    In a recent article in National Review, Heritage distinguished fellow and former Senator Jim Talent (R–MO) explains that the U.S. military is facing a troubling future. Talent describes how “every category of primary risk to American security is growing.” China is displaying increasing boldness in defense of its disputed territorial … More

    Reid Suggests Exploiting Budget Gimmicks for Sequestration

    Senate Majority Leader Harry Reid (D–NV) is proposing not one but two old budget gimmicks to spend $85 billion more in 2013 than allowed under sequestration. Contrary to Senator Reid’s claim that “it wouldn’t add a penny to the deficit,” this spending would in fact add every single penny in … More