Trying to stoke fears that the middle class in America is dying, progressives recently have taken to distributing a chart showing household debt rising steadily over the past fifty years. The Atlantic’s Megan McArdle has been doing a fine job putting these worries in perspective. But a front page story …
With congressional Democrats trying to resolve differences on the war supplemental, the Blue Dog Coalition has yet to crack on its demand that any new entitlement spending be offset under pay-as-you-go (PAYGO) rules. Today the Concord Coalition weighed in with a letter from executive director Robert L. Bixby urging the …
Yesterday in Oakland, Calif., in celebration of May Day, public school children were taught that the war in Iraq was to blame for proposed education funding cuts. Never mind that not a single dime of California’s $20 billion budget deficit went to defense spending; teachers’ unions weren’t concerned with the …
Following up on yesterday’s post on the Social Security and Medicare Boards of Trustees report, The Heritage Foundation released a chart today looking at how projected spending on entitlement programs is scheduled to crowd out all other spending by 2052 unless taxes as a percentage of GDP are raised significantly:
As the House prepares to vote on the Democrat budget resolution, let’s take another look at what the plan would mean for hard-working Americans: It raises taxes by $1.265 trillion over five years and $3.911 trillion over 10 years, or more than $3,135per household annually; It includes 17 reserve funds …
Moments ago, President Bush fulfilled his legal obligation under the Medicare Modernization Act of 2003 (MMA) by submitting a Medicare cost containment proposal to Capitol Hill. MMA obligated the president to submit a proposal after the latest Medicare trustee report found that Medicare spending will exceed 45% of total outlays. …
USA Today’s Dennis Cauchon wrote an insightful front-page story today showing that the cost of government benefits for seniors reached $27,289 per senior in 2007. Social Security, Medicare and Medicaid benefits continue to grow much faster than inflation, and as 77 million baby boomers reach retirement in the coming decades, …
The United States passed a generational milestone yesterday when 62-year-old Kathleen Casey-Kirschling became the first baby boomer to receive a Social Security payment. A life-long Democrat, Casey-Kirschling (pictured to the right on her yacht) proudly told reporters from her winter home in Vero Beach, Fla., “I trust Social Security.” A …
