All across America, families are balancing their budgets and even paying off debt. Since the financial panic of 2008, personal debt has fallen as Americans tighten their belts and pay back loans. Some, unfortunately, had to declare bankruptcy because their debts got too big. Washington cannot declare bankruptcy; it must …
Despite all the handwringing, it appears that President Barack Obama will get what he wanted in his excessive $60.4 billion request related to Hurricane Sandy. Shortly after his request was sent to Congress, the Senate approved President Obama’s package largely intact. Last week, the House passed $9.7 billion for the …
President Obama referred repeatedly to the debt ceiling debate in today’s press conference in a textbook example of Washington “spin,” or the art of selectively ignoring certain facts while portraying others in a particular light. “You don’t go out to dinner and then, you know, eat all you want and …
President Obama is expected to make his case for a debt ceiling increase at a press conference this morning. The development comes as House Republicans are reportedly weighing “default” and “government shutdown.” While it’s encouraging that conservatives are gearing up for a fight, it’s important that policymakers and the public …
More than 41 percent of the U.S. population is “enrolled in at least one federal assistance program,” adding tens of billions of dollars to the national debt each year, according to new research by The Heritage Foundation’s Patrick Tyrrell and William W. Beach. That means that a startling number of …
Even though Congress and President Obama reached a fiscal cliff deal, the fallout will continue to be felt by individuals, investors, married couples, and small businesses earning $400,000 and above (for couples, $450,000 and above). And that does not include the impact on all workers hit by the payroll tax …
While you were sleeping—or ringing in 2013—the Senate voted to raise taxes. After missing the midnight deadline, Congress and the President have technically sent the nation over the fiscal cliff, meaning higher tax rates are already in effect for all income tax brackets. But the Senate’s deal, brokered by Senate …
Budget policy in 2012 was characterized by deficit spending, major increases in the national debt, and a heated debate over the “fiscal cliff.” With just days left for President Obama and lawmakers in Congress to avert a major tax hike, sequestration, and other major policy changes, today we bring you …
House Speaker John Boehner (R-OH) and Republican leaders have done it once again. Their latest fiscal cliff proposal capitulates on core conservative principles, yielding woefully inadequate concessions from President Obama in the process. Will they ever learn? The latest GOP offer essentially ignores Washington’s real problem — spending — and …
