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    Morning Bell: Where Did Your Tax Dollar Go?

    Americans are waking up today to the worst “case of the Mondays” they’ll have all year: It’s Tax Day. Most Americans dread Tax Day, and for good reasons. Beyond the huge tab Americans pay to the government, the tax code is so complex that it’s difficult to figure out what … More

    Hunting for Surprises in the Obama Budget

    It is somehow fitting President Obama released his budget for Fiscal Year 2014 after Easter, a mere 65 days late—but who’s counting? Fitting because going through Obama’s budget is like an Easter egg hunt for which those in charge of hiding the eggs are masters of their craft. It takes … More

    The Obama Budget: Heritage Experts' Analysis

    Minimum Wage President Obama’s budget proposes raising the minimum wage to $9 an hour. This would hurt the very workers the President wants to help. When the price of something rises, people—both consumers and employers—purchase less of it. Americans responded to the higher cost of gas by driving less. Businesses … More

    Budgets in Comparison: Will President Obama’s Budget Save the American Dream?

    When the President’s budget comes out Wednesday, it will complete the last piece of the budget puzzle, as the House and Senate have each duly passed a budget according to law. Never mind that the President’s budget is supposed to lead Washington budget discussions, rather than follow. The key question … More

    National Financial Capability Month: Is President Obama Setting a Good Example?

    Last week, the President declared April 2013 National Financial Capability Month in an effort to encourage Americans to budget responsibly. This is a commendable goal. However, with the President’s budget more than two months late, it’s worth considering how the President is managing the nation’s finances: He grew the national … More

    Morning Bell: A Stark Choice for America's Budget

    For the first time in four years, the U.S. Congress is engaged in a full-throated budget debate. Take a moment for at least a quiet “Hurrah!” The federal government has at last embarked on its most basic responsibility. This was the price exacted by House Republicans from Senate Democrats for … More

    House vs. Senate Budget: What a Balanced Budget Looks Like (CHART)

    This week, the budget committees of both chambers of Congress released their budgets ahead of President Obama’s budget—marking the first time in 92 years that Congress kicked off the budget process instead of the President. The House budget, under the helm of Chairman Paul Ryan (R–WI), delivers a balanced budget … More

    Obama Budget to Be Submitted Even Later

    The Obama Administration is on track to beat former President Bill Clinton for second-longest delay in submitting a presidential budget on time. First place for the latest budget in history? That also goes to President Obama. In 2009, he did not submit a budget until 98 days after the statutory deadline. … More

    Debt Drag: Krugman, Konczal Miss the Point

    On their respective blogs, economists Mike Konczal and Paul Krugman criticize the widely cited finding that a nation’s debt above 90 percent of its gross domestic product (GDP) slows economic growth. They presume that the limitations of one study by Carmen Reinhart and Kenneth Rogoff mean that its warning can … More

    Morning Bell: Obama's Sequester Smokescreen

    Suppose you desperately needed to lose weight but had a Big Mac with fries and a Coke staring you in the face. You could take your need to diet seriously and say, “No thanks, I’ll have a salad.” Or you could decide to reduce the Big Mac meal by 2 … More