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  • debt limit

    By How Much Did Congress Increase the Debt Ceiling? Hint: It’s a Trick Question

    Just a few weeks before President Obama releases his budget proposal to boost deficit spending for the remainder of his term, Congress voted to “raise the nation’s borrowing limit through March 2015.” But there’s one big question: By how much did Congress raise the debt limit, exactly? As Heritage’s Romina … More

    Americans Can Unite Around 'Core Ideas,' DeMint Says on 'Face the Nation'

    Although Democrats in Congress willingly gave President Obama “a blank check” to borrow more money last week and most Republicans didn’t, Americans are tired of such partisan fights in Washington and ready to rally around “core ideas,” Heritage Foundation President Jim DeMint said this morning on “Face the Nation.” “America … More

    If Only a Snow Shovel Could Dig Us Out of This

    Thanks to Congress, the U.S. now doesn’t have a debt limit for the next year. Let two Heritage experts put this into perspective. “President Obama, after less than five years in office, has already increased the debt limit by more than any other president in U.S. history, including President George … More

    Congress Is Giving Obama a Blank Check

    Remember all those debt limit fights? Well, apparently Congress got tired of fighting. So now they’re working toward doing away with the debt limit altogether. In recent years, conservatives fought to get at least some spending cuts, to begin putting the budget on a path to balance—after all, raising the … More

    Stuck in Congressional "Groundhog Day"

    In the movie “Groundhog Day,” Bill Murray wakes up again and again to find that he is stuck in the same day. This happens multiple times a year now with Congress on the debt limit, which we just hit again on Saturday. >>> Check Out: The Debt Ceiling Returns as … More

    The Ryan–Murray Budget Deal: Unnecessary Pain for Americans

    The controversial budget deal reached by Representative Paul Ryan (R–WI) and Senator Patty Murray (D–WA) has been criticized by experts on both sides of the issue for delaying needed budget reforms. Romina Boccia, Heritage’s Grover M. Hermann Fellow in Federal Budgetary Affairs, discussed the deal with Obama’s car czar Steven … More

    Debt: Seven out of 10 Voters Think the U.S. Is on the Wrong Track

    A recent Peterson Foundation poll showed that 70 percent of registered voters believe that the country is on the wrong path when it comes to addressing the debt. This is just the latest indication that Americans are increasingly pessimistic about the nation’s financial future. The poll, which also shows that … More

    Americans Want Solutions, Not Procrastination on Debt, Budget Crisis

    Nearly two-thirds of Americans polled by Bloomberg answered that “it is right to require spending cuts when the debt ceiling is raised…because Congress lacks discipline on spending.” Their voices were not heard by Congress as it signed its terms of surrender. In the final hours before October 17—the alleged day … More

    $17,000,000,000,000

    President Obama boasted last week that he had signed legislation to lift “the twin threats” to our economy of government shutdown and default. But what was done to fix the problem of growing debt that leads Washington to repeatedly raise the debt ceiling? Nothing. In fact, by Friday, the U.S. … More

    Senate Debt Ceiling Bill Includes 10 Pages of Nonsense

    Last night Congress passed a bill (the Default Prevention Act of 2013) to suspend the debt limit until February 7, 2014. The bill was then signed into law by the President. There are a variety of policy reasons why suspending the debt limit is fiscally irresponsible. The Default Prevention Act … More