Hundreds of thousands of recession-induced retirements are proving to be terrible news for the Social Security Administration, leading to the total decimation of its annual surplus for the first time in 25 years, according to USA Today. But this morning’s headline really doesn’t qualify as “news,” per se, given that …
The President has the right idea with his proposal to freeze spending. Unfortunately, after driving spending to a record $3.7 trillion—nearly 26% of GDP—last year with the accompanying $1.4 trillion deficit, the proposal is at best a bit….underwhelming. According to the administration, only $447 billion in spending would be subject to …
The vote looming in the Senate to raise the debt limit should serve as a wake-up call that federal spending is out of control. Instead, Democratic leadership has tried to convince Americans that passing costly health care legislation is not only sensible, but requisite, and must be done now. Neither …
California, the land of sunshine, surfing, soaring unemployment and ballooning deficits, may be making moves to strip itself of one of its most costly and draconian environmental regulations: the cap-and-trade carbon tax. Meanwhile, the City of Los Angeles is turning to private industry for help in digging out of a …
The budget shortfalls, plunging revenue, and economic woes plaguing near-broke California could foretell the future of other cash-strapped states. A new study by The Pew Center on the States found that the economic pressures that pushed California to the brink of a total economic meltdown are also found in nine …
