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    Want Your Own Haunted Island? How About a Former Monastery?

    An island in the Venice lagoon is part of several properties and assets that the Italian government is selling to slash its public debt and comply with European Union guidelines, according to Reuters. Italy is selling the island of Poveglia, which has been inhabited for years and is called “the … More

    Where Did Your Tax Money Go?

    It’s pretty unreal when you see it. Your 2013 tax dollars—which are due today—went primarily to pay for government benefits. Major entitlements (Medicare, Medicaid, and Social Security) gobbled up 49 percent, while more federal benefits took another 20 percent. These additional “income security” benefits include federal employee retirement and disability, … More

    What No One Wants to Admit About Social Security Taxes

    It’s a bummer when you see how much income tax comes out of your paycheck. But when you see that Social Security line item, do you think, “At least that’s going to pay for my retirement”? It’s not. The tax money you’re paying into Social Security today is going to … More

    Washington Post Op-Ed: You Didn’t Pay For That (And She’s Right)

    Past and current retirees receive much more in benefits from Social Security and Medicare than they paid into the systems. Absent reform, younger generations will get stuck with an unfair burden and less financial security. One of the most common reactions to arguments in favor of entitlement reform is to … More

    New Book Exposes Entitlement Dangers

    A new book by Jagadeesh Gokhale sheds light on the magnitude of unfunded federal entitlement obligations. Gokhale compiles extensive evidence that America’s current spending path is unsustainable and that the short-term budget impact does not describe the full cost of entitlement programs: [B]udget agencies are refusing to report implicit debts … More

    If Only a Snow Shovel Could Dig Us Out of This

    Thanks to Congress, the U.S. now doesn’t have a debt limit for the next year. Let two Heritage experts put this into perspective. “President Obama, after less than five years in office, has already increased the debt limit by more than any other president in U.S. history, including President George … More

    Get Ready For a Year of 'Inaction' On the National Debt

    President Obama had an opportunity to satisfy the vast majority of voters by making the national debt a “high priority” in his State of the Union speech. But he squandered his chance. A Peterson Foundation poll found that 83 percent of voters want the Administration to name the national debt … More

    Your Money in Pictures: The Top 5 Charts of 2013

    As part of our countdown to the new year, here are Heritage’s top five must-see charts of 2013. 5. What If a Typical Family Spent Money Like the Federal Government? While middle-class families are still plagued by a sluggish recovery in the Obama economy, this is what their finances would … More

    Spending Caps Have Worked, but Ryan-Murray Budget Would Lift Them

    In terms of cutting government spending, the Budget Control Act’s spending caps and sequestration have been an unparalleled success story in recent years. And yet, the House of Representatives voted last Thursday to weaken the caps in 2014 and 2015 for a $63 billion increase in the discretionary budget. Sequestration … More

    3 Things You Need to Know About the Congressional Budget Deal

    Many had high hopes that the first budget conference in four years would make a substantial down payment toward fixing the U.S. spending and debt crisis. The new “Bipartisan Budget Act” thoroughly disappoints. While we dig through the details for a more complete assessment, here are three key facts on … More