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    Federal Budget in Pictures Shows America's Spending and Debt Crises

    April 29 marks the third year that the U.S. Senate has not passed a budget. Now more than ever, it is crucial that Americans understand what our nation’s spending, taxes, and debt mean for them and their families and why Congress must urgently get back to budgeting. The Heritage Foundation’s … More

    What Young Americans Should Really Fear

    Over the past week, President Obama has been on the road making an appeal to young Americans, offering a sales pitch on lower interest rates for their burdensome student loans. What he didn’t mention, though, is the even bigger nightmare they’ll face down the road. The president’s meme is one … More

    Why Bush Isn’t Responsible for Today’s Debt Crisis

    We get it, the last thing President Obama wants is to be blamed for is the nation’s growing debt—or anything else, actually. But the statute of limitations on blaming President George W. Bush for everything—anything—must have run out by now.  On the debt in particular, it’s sort of a hard … More

    Obamacare: Higher Taxes, More Uninsured, Says CBO

    On March 13, the Congressional Budget Office (CBO) updated its score of Obamacare, announcing that the program is $48 billion cheaper than in its previous 2011 score. The primary reason for this change is that more individuals will lose their employer-provided coverage than originally anticipated, and the government will collect … More

    CBO Report: Spending Is Driving Debt to "Unsupportable" Level

    The most significant numbers in today’s updated estimates from the Congressional Budget Office (CBO) are not the official “baseline” figures. More important are CBO’s “alternative” projections, which make clear once again that too much spending—not too little tax revenue—is the biggest threat to the country’s fiscal and economic health. Among … More

    Our Debt and China

    Yesterday, the Department of the Treasury released an initial estimate of foreign holdings of U.S. securities, including Treasury bonds, as of June 30, 2011. This estimate serves as a correction of monthly figures Treasury publishes, known as the Major Foreign Holders series. There are three implications of the new data … More

    The Entitlement Crisis: At Least Congress Is Still Paying Attention

    While the President’s FY2013 budget ignores the looming crisis of entitlement spending, the House and Senate Budget Committees, to their credit, are keeping their eyes on the ball this week with hearings on the three largest threats to the country’s economic health: Medicare, Medicaid, and Social Security. These hearings usefully … More

    VIDEO: Britain's Liam Fox Warns America: Your Debt Is a Threat

    Britain’s Liam Fox has a warning for America: Fix the debt problem now or suffer the consequences of less power on the world stage. The former U.K. secretary of state for defense visited Heritage to explain why America’s debt is a national security issue. >> Watch the full 45-minute speech, … More

    Senator Reid on the Budget: Not Interested

    It is bad enough that, after more than 1,000 days since passing a budget resolution, the Senate has decided to forgo this fundamental obligation once again this year. Even worse is the absurd excuse by Majority Leader Harry M. Reid (D–NV) that a budget resolution is unnecessary because Congress already … More

    Federal Spending on Health Care Doubles in the Next Decade

    The Congressional Budget Office (CBO) released its Budget and Economic Outlook for years 2012 to 2022 yesterday, and as Heritage’s Patrick Knudsen shows, the numbers add up to a dismal fiscal future. As the government continues its fiscal irresponsibility, 2012 will be the fourth straight year of trillion-dollar deficits. This … More