Federal spending will explode from $3.6 trillion to $6 trillion over the next 10 years, but the much-maligned sequester will cut only 2.4 percent of this spending. Sequestration represents a relatively small cut in projected spending. So why are so many in Washington wringing their hands over a two-and-a-half percent …
Federal budget cuts called “sequestration” are scheduled to hit in just 10 days. The sequestration cuts are not perfect—they’re a blunt instrument to cut spending, rather than a deliberative plan that sets priorities, trims entitlements, and cuts other spending. But they are law. It would be better to replace them …
Leaders from New Jersey and New York blew up yesterday after House Speaker John Boehner (R-OH) postponed a vote on an aid package related to Hurricane Sandy. But the bill is so loaded with pork projects that these officials should consider directing their anger at the Obama Administration, which is …
While you were sleeping—or ringing in 2013—the Senate voted to raise taxes. After missing the midnight deadline, Congress and the President have technically sent the nation over the fiscal cliff, meaning higher tax rates are already in effect for all income tax brackets. But the Senate’s deal, brokered by Senate …
Budget policy in 2012 was characterized by deficit spending, major increases in the national debt, and a heated debate over the “fiscal cliff.” With just days left for President Obama and lawmakers in Congress to avert a major tax hike, sequestration, and other major policy changes, today we bring you …
