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    Heritage Reacts to Simpson-Bowles Deficit Reduction Panel Proposal

    The draft proposal issued Wednesday by the co-chairmen of President Obama’s Deficit Reduction panel has both strengths and weaknesses.. Heritage Foundation analysts are still poring through this preliminary document, and we will have more to say in the days to come. Already, we see the following: One great flaw in … More

    Pelosi's PAYGO Ploy: Budgetary Gimmick Provides Cover for Liberals

    Four years after Democrats campaigned on the promise of using pay-as-you-go budgeting, their record is dismal. Since gaining control of Congress in 2007, they’ve gamed, ignored or employed PAYGO on 32 occasions to justify new spending or tax increases. Once hailed as a budgetary tool to stop deficit spending, PAYGO … More

    China Hiding Treasury Purchases

    China’s reported holdings of U.S. Treasury bonds fell sharply again in June and are now almost $100 billion lower than they were in July 2009. The press reports this as meaningful and important. It isn’t. You may have noticed that American interest rates are not soaring; in fact, they’re at … More

    Guest Blogger: Rep. Doug Lamborn (R-CO) Calls for Tough Choices on Spending

    Government spending is out of control and President Obama’s method of throwing more money at our economy is not working. Federal spending cuts need to start somewhere, and there is no better place than a program that can survive on its own. American taxpayers are subsidizing the Corporation for Public … More

    Outside the Beltway: Despite Loads of Debt, Pork Projects Abound in Illinois

    With a looming state budget deficit of nearly $13 million, many Illinois residents are wondering if their state has its priorities in order. Last night, ABC7 Chicago’s Chuck Goudie revealed $67 million in recent state payments (PDF) for a variety of pet projects. While the state wrestles with the ramifications of … More

    Podcast: Your Tax Dollars and Congress' Spending Spree

    Runaway government spending has been a vocal concern of the burgeoning Tea Party movement since its inception. But many average voters don’t know a lot about the federal budget and how it works, outside of the fact that it’s out of control. In this week’s Heritage in Focus podcast, Brian … More

    Greenspan: Time to Hit the Brakes on Federal Spending

    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 … More

    The Most Active Recovery Act Season Yet!

    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 … More

    National Debt Now Tops American Fears

    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 … More

    Federal Reserve Chairman Ben Bernanke Highlights Unsustainable Debt

    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 … More