• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • Debt Ceiling

    61% of Americans Want Spending Cuts Before Debt Limit Is Raised

    A clear majority of Americans believes that imposing a firm limit on borrowing with spending cuts is the only chance for Congress to kick its gluttonous spending habit. A recent poll released by Bloomberg shows that the majority of Americans oppose President Obama’s demand that Congress raise the debt ceiling … More

    Debt Ceiling Raised Seven Times Under Obama, Costing $43,000 Per Household

    Did you know that since President Obama came into office, the debt limit has been raised seven times? With those increases, Congress has added $43,000 in debt for every American household in just the last four years. And now the debt limit deadline is looming again. Treasury will run out … More

    Plan to Suspend Debt Limit Means Debt Would Rise to $17.8 Trillion

    Treasury Secretary Jack Lew announced a new debt ceiling deadline today, urging congressional lawmakers and the President to come to an agreement concerning the nation’s borrowing authority by October 17. Republicans are proposing a $1.1 trillion increase in the debt limit by suspending the cap through December 2014. The big … More

    Morning Bell: 6 Reasons Why the National Debt Keeps Rising

    Out-of-control spending by Congress and the Obama Administration has once again maxed out the latest debt limit—a nearly $17 trillion burden that harms job growth, gives special interests a pass, and lowers American families’ personal income. Inspired by Dave Ramsey’s recent post “6 Reasons People Stay in Debt,” we compiled … More

    Debt Limit: Brinksmanship or Fiscal Course Correction?

    Washington is in the midst of another budget fight this fall over the nation’s debt limit. What some call political brinksmanship others recognize as an important forcing mechanism to rein in out-of-control federal spending and avoid a much worse debt crisis in the future. Dan Mitchell of the Cato Institute, a … More

    What You Need to Know About the Debt Limit

    The Congressional Budget Office just dropped a budget update on Washington, and it’s not good. The U.S. government is spending recklessly—and Obamacare is adding fuel to the fire. The new report comes at a crucial time, as negotiations over the debt limit are starting up again. Here are some basics … More

    Morning Bell: The Only Way to Reform the Farm Bill

    Lawmakers return to Washington today with only nine legislative days in the House before some farm bill programs expire at the end of the month. With the debt ceiling looming and Congress considering military action in Syria, it’s nearly impossible to develop real reforms. The best option before Congress is … More

    While Debt Crisis Looms, Washington Still Focused on Undoing Sequestration

    Lawmakers are on track to bargain away the one spending cut they got. The Washington Post reports that President Obama and a group of Republican Senators stalled on a budget deal on Thursday that revolved in part around the question of how to best renege on sequestration. Republicans want to … More

    Two Years After Downgrade, U.S. Credit Rating Hasn’t Recovered—and Debt Is Worse

    Two years ago today, Standard & Poor’s downgraded the U.S. credit rating—and it hasn’t recovered since. Then, the downgrade came because the President and Congress failed to resolve the long-term spending and debt crisis. Now, the situation is even worse. Congress and the President should rein in out-of-control spending and … More

    Treasury Secretary Lew Ignores Real Debt Problem, Looming Crisis

    U.S. Treasury Secretary Jack Lew suggested yesterday on NBC that “we have already done a lot of deficit reduction.” In reality, government spending and debt are out of control and getting worse. Negligence in fixing the entitlement programs—which consume more than half of the U.S. budget already—has left them fiscally … More