Congressional Quarterly reported yesterday that Democrats, led by Representative Chris Van Hollen (D–MD), are pushing to use “tax overhaul” as a means to cut a deal to increase the debt ceiling by $2.4 trillion: Van Hollen also revealed that Democrats on the panel have “put a whole menu of options …
Deepening federal budget deficits indicate that one component of the federal budget baseline—either spending or revenue—is out of alignment. Closer inspection reveals that spending is the root cause, but both spending and revenue deserve equal treatment in policy discussions about reducing debt and deficits. Often, however, Members of Congress and …
Well, President Obama asked for it. And last night he got it in grand fashion—a “clean vote” on raising the nation’s debt limit, free of any of the desperately needed spending cuts that Americans are demanding, conservatives support, but liberals abhor. And by a 318–97 margin, the House of Representatives …
All across Western Europe—the land of platinum-plated social benefits, the 35-hour work week, tony retirement plans and government-funded health care—countries are coming to the realization that they can no longer afford these luxuries amid skyrocketing deficits. Yet here in the United States, as we face a $14.3 trillion deficit, some are …
This Congress was sent to Washington with a simple mandate from the American people: cut federal spending and get government under control. Friday night’s budget compromise to avert a government shutdown embraced these principles, but also left plenty of work to be done. Congress has finally started cutting spending instead …
