Many Americans mistake the United States’ capability to borrow money as an indicator that our nation is incapable of incurring the same fiscal mess Greece currently finds itself in. In reality, this isn’t so, and this mentality could prove dangerous for America’s future if used to placate lawmakers regarding the …
As Mike Allen of Politico reports, Vice President Joe Biden has kicked off what the Obama Administration calls its “Recovery Summer.” According to senior adviser David Axelrod, “This summer will be the most active Recovery Act season yet.” It sounds like Axelrod has never heard the popular saying about what …
Gallup recently asked a sampling of Americans, “How serious of a threat to the future of the United States do you consider the following…” The results are clear: Americans judge the national debt on par with terrorism as the top threat facing the nation. Further, independents – a crucial constituency …
Testifying before the House Budget Committee today, Federal Reserve Chairman Ben Bernanke noted: Even after economic and financial conditions have returned to normal, however, in the absence of further policy actions, the federal budget appears to be on an unsustainable path. A variety of projections that extrapolate current policies and …
Last week, Congressman Jim Jordan (R-OH) and Tom Price (R-GA) introduced the Republican Study Committee (RSC) FY2011 budget. This is a welcome fiscal blueprint that would restore fiscal discipline to the nation and avert a Grecian formula meltdown. It also does an excellent job of drawing a sharp distinction between …
There’s nothing funny about the state of America’s finances, or those in even more dire straights in Europe. Greece has lined up a bailout from other European countries and the International Monetary Fund. The European Union has announced a trillion dollar defense fund to ward off attacks on the Euro …
Government spending is increasing at an alarmingly quick rate. This is especially true when it comes to entitlement programs. In fact, entitlement spending will consume all tax revenue by 2052. But Congress is already spending at a breakneck pace accumulating unprecedented debt. Sen. George LeMieux noticed this and had a …
Washington’s runaway gusher of spending makes the Deepwater Horizon disaster look small and simple to stop. Congress is debating another irresponsible round of extra spending (although they refuse to call it “son of stimulus”) before they take a Memorial Day break. The measure would add an estimated $84-billion (or perhaps …
Germany has taken the clear lead as the European sovereign debt crisis unfolds. This is an obvious outcome because of Germany’s relatively tight rein on government deficits and its policies that have made it Europe’s toughest competitor. Germany’s clear ascension is both good news and bad for Europe, and a …
