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    Want Your Own Haunted Island? How About a Former Monastery?

    An island in the Venice lagoon is part of several properties and assets that the Italian government is selling to slash its public debt and comply with European Union guidelines, according to Reuters. Italy is selling the island of Poveglia, which has been inhabited for years and is called “the … More

    As Fed Tapers, More Central Bank Independence Needed

    This week finance ministers and central bank officials from around the world will converge on Washington for the spring meetings of the World Bank and the International Monetary Fund. Discussions of monetary policy normalization are leading this year’s expansive schedule. One notable item missing from the agenda is discussion of … More

    A Path to Balance in Five Steps: What to Look for in the Ryan Budget

    The House Budget Committee will deliver its budget resolution—which would eliminate the deficit within 10 years—ahead of Congress’s statutory deadline of April 15. The Senate, on the other hand, has already announced that it would not bother producing a budget this year, relying instead on the Ryan–Murray budget deal struck … More

    New Book Exposes Entitlement Dangers

    A new book by Jagadeesh Gokhale sheds light on the magnitude of unfunded federal entitlement obligations. Gokhale compiles extensive evidence that America’s current spending path is unsustainable and that the short-term budget impact does not describe the full cost of entitlement programs: [B]udget agencies are refusing to report implicit debts … More

    Fed Nominee Brainard Needs Nuance on Austerity

    In her hearing before the Senate today, Federal Reserve Board nominee Lael Brainard reportedly said that “expansionary austerity is a contradiction and does not work.” This one-dimensional view of a complex set of policies ignores extensive academic research and lacks the nuance we expect from those who serve on the … More

    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

    Bring Back the Debt Ceiling

    Congress is in the process of abdicating its power to control the borrowing of the U.S. government, at a time when the national debt exceeds $17 trillion and continues growing unabated. It waived this power twice last year, “suspending” the debt limit and thereby granting the U.S. Treasury temporary blank-check … 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