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    Moody's: Further Deficit Reduction Needed to Maintain Stable Outlook

    Moody’s changed the outlook on the U.S. credit rating from negative to stable this week, citing improving deficits. While this is good news, policymakers should curb their enthusiasm about what this means for the U.S. debt situation. The improvement could be fleeting, as Moody’s relies heavily on favorable economic growth … More

    Hurrah Too Soon: White House Budget Revision Shows $759 Billion Deficit in 2013

    The President’s Midsession Review, released this week, projects the 2013 deficit to be lower by $214 billion compared with the earlier Obama budget estimate released in April. But any hurrah would be misplaced. Most of the short-term improvement comes because revenue from the tax increases passed in December 2012 is … More

    The Obamacare Big City Bailout

    Bloomberg reports this week on the latest Obamacare trend sweeping across the country: Cities and states may soon attempt to unload unsustainable health costs on the federal government by dumping employees and retirees onto exchanges. Both Chicago and Detroit have explored using the exchanges to reduce massive budget shortfalls, and … More

    Sequestration? What Sequestration?

    President Obama claimed that millions of Americans would suffer if Congress failed to prevent the $85 billion in automatic budget cuts known ominously as “sequestration.” But according to David Fahrenthold and Lisa Rein of The Washington Post, sequestration “has not produced what the Obama administration predicted: widespread breakdowns in crucial … More

    Cut Government Spending to Help the Economy? Majority Say Yes

    A recent Rasmussen poll (subscription required) found that 65 percent of likely voters want the government to cut spending to help alleviate the country’s economic woes. Four years after the official end of the recession in June 2009, the economy is growing sluggishly. As The Wall Street Journal reports today, … More

    Will the Currency Zombie Eat the Trans-Pacific Partnership?

    Currency manipulation is the issue that never dies. No matter how many times the link between exchange rates and American jobs is shown to be tenuous, the matter rises again like a zombie. In this case, it is Japan that has brought exchange rates back into the spotlight, as the … More

    GDP: I Do Not Think It Means What You Think It Means

    Many decision makers and commentators treat gross domestic product (GDP) as if it measures the whole of the economy. They even use “the economy” and GDP interchangeably. GDP is an accounting device—and a poor measure of economic health. Household wealth is much closer to what we mean by “the economy.” … More

    Farm Bill: Ask John Boehner WHY

    Speaker of the House John Boehner (R-OH) said yesterday that he will support the bloated farm bill. But as Heritage has been highlighting, this bill does not do what most people think it does. The nearly trillion-dollar bill actually doles out money to some surprising sources and frankly, it’s not … More

    Obamacare 2023: 31 Million Uninsured, $1.8 Trillion in Taxpayer Dollars Spent

    A poll released last week by InsuranceQuotes reveals that 64 percent of the uninsured are uncertain whether they will purchase insurance coverage once Obamacare takes full effect next year. This is not surprising, as Obamacare is projected to leave more people uninsured than it actually helps gain coverage. According to … More

    Morning Bell: Obamacare's Negative Impact on Seniors

    The Medicare program that provides health insurance to seniors faces a dire financial future. And Obamacare is making it worse. Medicare’s Part A trust fund is projected to be insolvent by 2026 and the total program has a long-term unfunded obligation of more than $35 trillion. This means the government … More