• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • deficit spending

    How Would You Reduce the Deficit?

    Last week, the co-chairs of the President’s deficit commission released a report of possible proposals for the commission’s final report. Recommendations included cuts to discretionary, mandatory, and defense spending as well as tax increases. The report was a good start to the debate and will gauge the readiness of lawmakers … More

    The Lower Spending Solution to Deficits

    With the expiration of the 2001 and 2003 tax cuts fast approaching, the debate over whether to extend the cuts, and for whom, has taken on a new face. Proponents of allowing for tax increases on the highest income brackets, or in some cases, on all Americans, argue that this … More

    More Evidence against the VAT

    In the ongoing discussion on how best to address the nation’s out-of-control deficit spending, one proposal would increase taxes by adding a value-added tax (VAT) on top of the current tax system. Proponents argue that a new tax on consumption would raise the needed revenues to close the deficit gap … More

    A Real Debate on Spending

    In a recent editorial somewhat misleadingly entitled “A Real Debate on Taxes,” The New York Times argues in favor of allowing the 2001 and 2003 tax cuts to expire for Americans of all income levels. Their argument presents a few fatal flaws. First, a real debate on taxes is also … More

    Economic Effects of 2011 Tax Hikes: Killing One Bird with Two Stones

    Next January, tax rates will increase—even though the country remains in a recession—unless Congress takes action. The Obama Administration’s solution is to extend the 2001 and 2003 tax cuts except for families earning $250,000 and individuals earning $200,000. But is this the right move from an economic perspective, and the … More

    The Link Between Economic Freedom, Opportunity, and Recovery

    In a rather confessional tone, Jeffrey Sachs declared in his recent op-ed: The global fiscal stimulus championed last year by the Obama administration is coming undone, repudiated by the same Group of 20 that endorsed it last year. Now, against a backdrop of a widening sovereign debt crisis, we need … More

    Closing the Deficit Requires an Open Mind, Not an Open Wallet

    The typically staid pages of the Washington Post Business Section were graced this morning with subtle humor from the virtual pen of the ever-sober, oft sagacious Steven Pearlstein. In a piece titled “Keeping an open mind on solutions to the budget deficit”, Pearlstein neatly lays out the argument one typically … More

    In Their Own Words: Spending Our Way Out of the Recession

    House Majority Whip Rep. James Clyburn (D-S.C.) was quoted in The Hill earlier this week discussing the country’s economic outlook. Despite the President’s recent efforts to talk about savings, Rep. Clyburn took a different tack, saying that “wouldn’t help alleviate the recession.” He added, “We’re not going to save our way out of this recession. We’ve got to spend our way out of this recession, and I think most economists know that.” More

    What is a Trillion Dollars, Anyway?

    This week’s bloggers’ briefing brought the biggest crowd yet; standing room only. What was the draw? Matthias Shapiro, mastermind of the 10,000 pennies videos that have become a viral sensation, showed the eager bunch how to utilize the overused rhetoric and statistics of the day to instead communicate the numbers … More

    When You're In a Hole...Stop Digging: Deficit Cartoon

    Heritage’s J.D. Foster on the deficit: “President Obama talks about responsibility, but the budget deficit this year is approaching $2 trillion and the national debt is set to double in just four years. Imagine what he would deem irresponsible! Yes, he inherited a plunging economy and soaring deficit. But then … More