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  • debt limit

    Morning Bell: Bernanke Helps Defuse "Default"

    Our federal government is currently $14.1 trillion in debt. The vast majority of the American people believe this number is far too high and on track to go far higher. Fortunately, Congress created a mechanism to force itself to reexamine its spending habits when budget deficits got out of control: … More

    Dodging the Debt Limit Stampede

    Brand-new Congressmen don’t take office until January, but they’re already consumed with worry about the national debt.  They’ll be faced with a vote expected next year to raise the debt ceiling beyond its current $14.3-trillion (about $47,000 apiece for everyone in America). The current $14.3-trillion debt ceiling has almost doubled … More

    A Toothless Commission On Spending Is No Substitute for True Leadership

    The recent debt limit increase passed by Congress has sparked a national debate on how to adequately reverse out-of-control federal spending. After much congressional hand-wringing recently over what budget process reform to attach to the must-pass increase in the debt ceiling, support for a bipartisan commission crafted by Senate Budget … More

    The House and Senate Cloakroam: February 1-5, 2010

    The President will release his budget next week, kicking off weeks of hearings and discussions about funding our nation’s priorities. However, the real news will once again be what is happening behind closed doors. Private discussions will continue on yet another stimulus and liberals must try to find a way to move Obamacare, perhaps through the politically poisonous reconciliation process. Even after the President’s State of the Union address, many questions remain. More

    Senate Puts Politics Over Fiscal Responsibility In Debt Limit Vote

    On Thursday, the Senate passed a bill to increase the debt limit. Senate Majority Leader Harry Reid’s (D-NV) amended version of the bill passed by the House will raise the ceiling on the federal debt by $1.9 trillion. This is a huge increase from the House version, which allowed an … More

    Senator Coburn’s “Radical” Alternative to Raising the Debt Limit

    Senator Tom Coburn (R-OK) has a radical alternative to raising the debt limit: spend less money. In an amendment introduced last week Senator Coburn proposed saving approximately $120 billion by, “consolidating more than 640 duplicative government programs, cutting wasteful Washington spending, and returning billions of dollars of unspent money.” The … More

    Morning Bell: A Nothing Burger, A Fig Leaf, and a Commission On the Side

    From the President who brought you unaccountable, constitutionally-questionable czars comes the latest innovation in pass-the-buck leadership: a White House executive commission designed to solve the behemoth of a spending problem plaguing the federal government.  Members of Congress have described the commission as a “nothing burger,” a “fig leaf” and “something … More

    Discretionary Spending Caps, A Good First Step

    After quietly increasing the federal debt limit from $12.1 trillion to $12.4 on Christmas Eve, the US Senate is beginning debate today on yet another increase. Hoping to avoid making the skyrocketing debt levels an election issue; this time around they want to pass an increase large enough to feed their … More

    The House and Senate Cloakrooms: Jan. 19 - 24

    Senate Cloakroom: Analysis: The Senate returns this week after a three-week absence. In the wake of passing an unpopular health care bill, the Senators must now contend with another unpopular issue – increasing the nation’s debt limit by nearly $1 trillion. The debate, which is expected to last into next … More

    Rethinking Big Government

    As Congress returns to Washington, the crucial decisions that await lawmakers will have enormous financial ramifications for the country for years to come. House and Senate leaders continue their struggle to land a health care bill on the President’s desk this month, even though proposed legislation would add to the … More