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  • debt limit

    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

    Will Debt Ceiling Baby Step Lead Toward a Balanced Budget?

    The debt ceiling is bearing down on Washington. As with most such momentous occasions, plenty of partisan potshots have been exchanged, like this whopper from the White House: that House Republicans who are demanding spending reductions in exchange for increasing the debt limit would compromise the full faith and credit … More

    Obama’s Budget to Be Late Again

    President Obama’s budget will be late again. When the President and Congress failed to close the fiscal cliff deal until January 2, it was predictable enough that the Administration would once again submit its budget a bit late. The fiscal cliff changed both revenues and spending, and so all the … More

    Morning Bell: Don't Raise Debt Ceiling Without Balancing the Budget

    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 … More

    Morning Bell: "Default" Is a Red Herring in Debt Ceiling Debate

    Yesterday, President Obama accused his opposition in Congress of threatening to “default” on America’s loans in order to make a political point. I am not going to have a monthly or every three months conversation about whether or not we pay our bills because that in and of itself does … More

    Obama's Press Conference: Debt Ceiling Spin

    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 … More

    Debt Ceiling: Default Not at Issue, Federal Spending Is

    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