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    Congressional Budget Office Confirms FY 2012 Deficit Exceeds $1 Trillion

    Fiscal year 2012 concluded with a $1.1 trillion deficit, according to the Congressional Budget Office’s monthly budget review released today. It marks the fourth year of trillion-dollar-plus deficits. Anyone can see that these massive, continued deficits are hardly sustainable. Despite claims that tax hikes are the solution to reduce the … More

    Morning Bell: 10 Questions for the First Presidential Debate

    Tonight’s debate between President Barack Obama and former Governor Mitt Romney is supposed to focus on domestic policy, with a major concentration on the economy. Health care, the role of government, and philosophy of governing are also on the agenda. The Heritage Foundation’s policy experts have submitted 10 questions they … More

    Obama: Don’t Worry About $16 Trillion Debt

    Last night on the CBS Late Show with David Letterman, President Obama suggested that “we don’t have to worry about [the debt] short term.” Excuse me? On September 4, the U.S. national debt hit the $16 trillion mark. We now owe more on the national debt than the entire U.S. … More

    Morning Bell: Government Dependency Rises As Number of Taxpayers Declines

    The leak of a video featuring former Governor Mitt Romney (R-MA) has sparked debate about government dependency and the number of people in the United States who do not pay federal income tax. In the video, Romney refers to “47 percent” of Americans and says that they are “dependent upon … More

    U.S. Budget Deficit for Fiscal Year 2012 Already at $1 Trillion

    The federal budget is reaching benchmarks of astronomical proportions. Hold your applause, though; the budget trends are increasingly headed in the wrong direction. Yesterday, the Congressional Budget Office (CBO) reported that the deficit for fiscal year 2012 has surpassed the $1 trillion mark, and it anticipates the Treasury Department will … More

    Freeloaders on Safety Net Programs Double Dip to Get Thousands in Taxpayer Dollars

    In July, the Government Accountability Office (GAO) issued a report showing that, as many Americans suspect, there are places where government safety net programs are abused and ripe for reform. GAO focuses on two programs, unemployment insurance (UI) and disability insurance (DI), and the “double dippers” who collect payments from … More

    Morning Bell: $16,000,000,000,000

    Yesterday, the U.S. national debt passed $16 trillion. On President Barack Obama’s watch, the debt has increased by 50 percent, as campaign promise after campaign promise has drowned in a sea of federal spending. When he was running for President, Obama condemned George W. Bush for adding $4 trillion to … More

    Morning Bell: We Can Change America's Course

    Entering the final stretch of the presidential contest, Americans are facing a monumental choice. The American people will decide the direction of government and its role in their lives for the coming years. The debate in Tampa this week raised a number of issues, including preserving the American dream of … More

    Another Temporary Budget Deal: Don’t Blame a “Broken” Process

    The stopgap spending agreement reached by House and Senate leaders may be the only way Congress will escape a post-election “lame duck” showdown over funding government agencies. It also presumably helps clear the agenda so Congress can focus on Taxmageddon and the scheduled defense-devastating sequestration—two other major fiscal problems lawmakers … More

    Budget Battle Made Simple

    Understanding what Washington is up to is as simple as one-two-three: 1. Unacceptable Choices Under President Obama’s leadership, Americans have been presented two unacceptable choices. For Washington to continue to pay its bills under the limitations of the Budget Control Act of 2011 (BCA), which the President signed into law, … More