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  • deficit reduction

    Obama’s Budget to Be Late Again

    President Obama’s budget will be late again. When the President and Congress failed to close the fiscal cliff deal until January 2, it was predictable enough that the Administration would once again submit its budget a bit late. The fiscal cliff changed both revenues and spending, and so all the … More

    12 Days of Obamacare Surprises: An Optional Medicaid Expansion

    Not all surprises are good. When it comes to Obamacare, the original projections are turning into unfortunately different realities. For the past 11 days, Heritage has highlighted one of the various changes in Obamacare projections (e.g., cost, enrollment, etc.) from when the law first passed until now. This Christmas morning … More

    12 Days of Obamacare Surprises: Deficit Reduction?

    Not all surprises are good. When it comes to Obamacare, the original projections are turning into unfortunately different realities. For the next two days, Heritage is going to highlight one of the various changes in Obamacare projections (e.g., cost, enrollment, etc.) from when the law first passed until now. Obamacare … More

    Morning Bell: What Will the Fiscal Cliff Deal Look Like?

    This week, President Obama and House Speaker John Boehner (R-OH) have been trading secret offers on the fiscal cliff. Last night, they met for nearly an hour, and emerged with zipped lips about what progress—if any—they made on averting tax hikes across the board and automatic, deep budget cuts that … More

    What Are Economists Really Saying About Tax Rate Increases?

    On Friday, Representative Pete Sessions (R–TX) and House Speaker John Boehner (R–OH) ran afoul of Glenn Kessler’s “Fact Checker” blog regarding a study of President Obama’s proposed tax increase. Before deciding on a tax change, policymakers are wise to look at the economic impacts of the change. Two Studies In … More

    Obama Already Banking on Sequestration?

    When the topic of sequestration arose during the final presidential debate Monday, President Obama declared, “It will not happen.” Considering that Obama has also previously declared that he would veto any bill attempting to get rid of the defense portion of the cuts unless it includes tax increases, many were … More

    Obamacare Loses Again in Deficit Reduction Debate

    Niall Ferguson poked a hornet’s nest Sunday with his Newsweek cover story, in large part for its claim that Obamacare would increase the budget deficit. “Anyone who actually read, or even skimmed, the CBO [Congressional Budget Office] report knows that it found that [Obamacare] would reduce, not increase, the deficit,” … More

    Chart of the Week: Obamacare's Bundle of Budget Gimmicks

    President Obama has touted reports from the Congressional Budget Office claiming his health care law would actually decrease the deficit. But due to a bundle of budget gimmicks and other legislation, calculations show that Obamacare actually adds $698 billion to the deficit. This week’s chart outlines each of those budget … More

    Chart of the Week: Runaway Spending, Not Low Tax Revenue, Fueling Deficits

    Following the failure of the Joint Select Committee on Deficit Reduction, Sen. Pat Toomey (R-PA) criticized liberals for insisting that any deal include a massive tax hike. In a speech at Heritage last week, he said tax revenue isn’t the problem facing the United States in the future; it’s the … More

    Exclusive Interview: Sen. Cornyn Says Obama Has 'Given Up on Governing'

    The debt-limit deal this summer guaranteed a vote on a Balanced Budget Amendment this year. As the House and Senate prepare to vote, there is concern among conservatives that lawmakers will act on a proposal that includes weaker language than others. Sen. John Cornyn (R-TX) spoke at Heritage today about … More