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    The Income Tax Turns 100 Years Old

    The federal income tax is now a centenarian. On February 3, 1913, the 16th amendment to the Constitution was ratified. The revenue the income tax raises allowed Congress to greatly expand the size of the federal government. We will likely never return to a federal government the size we had … 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

    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

    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

    The United States of Argentina?

    Is President Obama channeling Juan Perón? The President does seem to have a few things in common with the political descendants of the late Argentine dictator. For example, due to ongoing lawsuits stemming from Argentina’s still unresolved $100 billion sovereign debt default in 2001, Argentina’s current president, Peronist Cristina Fernández … More