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  • Debt Ceiling

    In Congress, a Welcome Desire for "Regular Order"

    As Members of Congress left town last week for the Presidents’ Day break, a refreshing and commendable sentiment followed them: nostalgia for the “regular order” of lawmaking. “Tired of watching as flailing leadership negotiations fail to produce any key legislation,” wrote The Washington Post, “senior lawmakers hope that a return … More

    Morning Bell: How to Balance the Budget in 10 Years

    Both houses of Congress have now voted to suspend the debt ceiling until May 19, buying lawmakers more time to develop a budget. The Senate would put together a budget for the first time in three years—and the details of that budget are crucial. To prevent the federal debt from … More

    VIDEO: Jim DeMint Says Obama Is "Running Out of Excuses" on Debt

    Heritage Foundation President-Elect Jim DeMint told Fox News’ Greta Van Susteren last night that President Obama is “running out of excuses” on America’s debt problem and liberals are in denial if they think Washington doesn’t have a spending addiction. Greta, the president is running out of excuses. He can’t blame … More

    The Curious World of Jack Lew, Treasury Secretary Designate

    President Obama has nominated White House Chief of Staff Jack Lew to succeed Timothy Geithner as Treasury Secretary. Lew could be in for some tough questioning. For better or for worse, the Secretary of the Treasury stands at the center of the U.S. financial system simply by virtue of the … More

    Heritage in Focus: What IS the Debt Ceiling?

    Research Coordinator Romina Boccia discusses the phrase “debt ceiling,” which the mainstream media have been focusing on for weeks, and how policymakers can improve our economy going forward on Heritage in Focus. Jackie Anderson hosts. To get regular updates on Heritage in Focus podcasts, visit our RSS feed or subscribe … More

    Conversations with Conservatives: Congressmen Weigh in on Debt Ceiling Deal (VIDEO)

    In advance of Wednesday’s vote on suspending the debt ceiling, six Republican congressmen joined The Heritage Foundation’s Bloggers Briefing to discuss conservative viewpoints on the budget deal. Not all of the congressmen who spoke were persuaded of the debt extension. Representative Justin Amash (MI) was the first to state he … More

    Morning Bell: It's Time to Balance the Budget

    Today, the House will vote on a proposal that would suspend the debt ceiling until May 19, buying a bit more time for the overarching budget debate. This puts off the difficult decisions that are needed to get the country’s fiscal situation in order. Heritage’s vice president for domestic and … More

    Debt Limit: Talk of Tax Increases Distracts from Spending Problem

    In response to President Obama’s press conference last week, House Majority Whip Steny Hoyer (D–MD) claimed, “Clearly we need additional [spending] cuts. But…revenues have not been resolved.” Wait a minute. Revenues have not been resolved? My, how quickly one’s memory can fade. Lest we forget the fiscal cliff deal, hastily … More

    Morning Bell: Obama's Second Inaugural Address, Translated

    Members of Congress—who are about to debate raising the debt ceiling tomorrow—should have paid attention yesterday. The President was very clear that he sees no urgency about reducing the debt and cutting the deficit. In fact, in his second inaugural address, President Barack Obama was honest about his intentions to … More

    Chart of the Week: Each American's Share of Debt Is Skyrocketing

    As the nation pushes into another debt ceiling debate, an AP-GfK poll released last week found that 39 percent of Americans think any debt ceiling increase should come with a serious plan to reduce spending. Another 21 percent believe that the ceiling should not be raised at all. The poll … More