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  • entitlement spending

    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

    Why We Need to Reform the Budget Process

    In a new paper, “Why Congress Needs a New Budget Process,” Heritage’s Patrick Louis Knudsen documents the historical breakdown of the budget process and exposes the fundamental flaws in the process itself. These flaws, he notes, call for a new process that not only compels lawmakers to produce timely and … More

    Black Friday Spending Spree (in Washington)

    American shoppers aren’t the only ones getting ready to spend big this holiday season. In Washington, members of the budget conference committee are considering several options that could increase spending by up to an additional $100 billion. What’s standing in their way is sequestration: the automatic spending cut mechanism President … More

    Congress Should Do These 3 Things in the Next 31 Days

    In the next 31 days—starting today—the budget conference committee will try to accomplish something Congress has failed to do for the past four years… Agree on a budget. But not just any budget. This one needs to tackle the key driver of spending and debt: entitlement spending. Think of it … More

    Tax Revenue Rose Five Times Faster Than Spending Fell in 2013

    The monthly Treasury statement of the actual budget figures for 2013 this week shows tax revenue rising five times faster than spending fell in 2013. Taxes revenue climbed by 13.2 percent from $2.45 trillion in 2012 to $2.77 trillion in 2013. Spending, on the other hand, fell by only 2.4 … More

    $17,000,000,000,000

    President Obama boasted last week that he had signed legislation to lift “the twin threats” to our economy of government shutdown and default. But what was done to fix the problem of growing debt that leads Washington to repeatedly raise the debt ceiling? Nothing. In fact, by Friday, the U.S. … More

    Two Things Washington Cannot Ignore

    Members of Congress are still at an impasse—they cannot agree on the debt limit, spending cuts, Obamacare, or funding the government. The House has passed a variety of bills that would have reopened portions of the federal government, but the Senate has rejected them all. As they volley proposals back … More

    Without Reform, Entitlement Spending Poses a Default Risk

    The Obama Administration argues that failure to raise the debt limit would lead to a default on federal debts, causing unacceptable harm to the economy. But the President has ample discretion to prioritize debt payments and avoid default. The President has failed to address the more fundamental risk of default: … More

    Debt Limit: Brinksmanship or Fiscal Course Correction?

    Washington is in the midst of another budget fight this fall over the nation’s debt limit. What some call political brinksmanship others recognize as an important forcing mechanism to rein in out-of-control federal spending and avoid a much worse debt crisis in the future. Dan Mitchell of the Cato Institute, a … More

    What You Need to Know About the Debt Limit

    The Congressional Budget Office just dropped a budget update on Washington, and it’s not good. The U.S. government is spending recklessly—and Obamacare is adding fuel to the fire. The new report comes at a crucial time, as negotiations over the debt limit are starting up again. Here are some basics … More