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  • Entitlements, Taxes & Spending

    The Hill Misses the Story on Auto IRAs

    An article on the Automatic IRA in the July 13 edition of the Capitol Hill newspaper The Hill (“Democrats and AARP want to make IRA enrollment automatic”) left out several crucial parts of the story. First and foremost, the Automatic IRA has enjoyed wide bipartisan and cross-ideological support since it … More

    Dem Plan to Cut Deficit Will Pay for Failed Stimulus ... by 2130

    Reps. Gary Peters (D-MI), John Adler (D-NJ), Peter Welch (D-VT) and Jim Himes (D-CT), should be commended for forming their new Spending Cuts and Deficit Reduction Working Group. Peters told The Macomb Daily: “Congress has to get serious about reducing the deficit now. Transforming the deficits generated over the past … More

    Morning Bell: The Obama Tax and Spend Threat to Economic Recovery

    Remember President Barack Obama’s promise to the American people not to raise taxes? Forget about it. While the President has already raised taxes on cigarettes and tanning beds, none of that compares to what could happen in January. If you earn income, your taxes are about to go up. If … More

    Deficit Reduction Isn’t Just a Matter of the Right Policy—Politics Matter, Too

    At this point, Americans on every imaginable side of the deficit debate agree that federal spending is out of control. Something must be done—but the question is, what, and how, and by whom? Lawmakers on Capitol Hill talk about deficit reduction an awful lot—so why haven’t they done anything about … More

    Time to Take on the Welfare State

    In New York, facing a $9 billion deficit, state legislators put welfare on the chopping block to head off a government shutdown. Lawmakers in New Jersey avert their own shutdown in a ninth-hour budget deal that manages to save $22 million for adults on welfare. Meanwhile, in budget-busting California, welfare … More

    Dangerous Death Tax Plan Offered in the Senate

    Senators Sanders (I-VT), Harkin (D-IA) and Whitehouse (D-RI) are circulating a bill that would drastically increase the death tax at the worst possible time: such a policy move would be a body blow to a weakly recovering economy and would clearly signal to everyone that this Congress has no intention … More

    Hoyer Makes, and Misses, His Mark

    Over the past weekend Steny Hoyer (D-MD), the House Majority Leader, gave one of the most expansive and surprising speeches of the year.  State-of-the-Unionesque in scope and partisan tone it nevertheless laid out some interesting ideas for debate. On one top tier issue Mr. Hoyer hit the nail on the … More

    Speak Out on Out-of-Control Spending

    This upcoming Saturday, AmericaSpeaks, a non-partisan organization devoted to re-energizing democracy in the U.S., will hold a nationwide discussion on the federal budget and runaway spending in Washington.  Americans with all viewpoints are encouraged to make their voices heard regarding this crucial aspect of America’s future. With the president’s National … More

    Social Security in the Red

    In February, we reported that in 2010, Social Security would start running deficits in 2010.  Well, Social Security deficits have officially arrived, as analyst Michael Barone lays out in the Washington Examiner: Social Security tax receipts for the first half of 2010: $346.9 billion; Social Security benefits payments for the … More

    A Tale of Two Gushers: Oil and Spending

    Washington’s runaway gusher of spending makes the Deepwater Horizon disaster look small and simple to stop. Congress is debating another irresponsible round of extra spending (although they refuse to call it “son of stimulus”) before they take a Memorial Day break.  The measure would add an estimated $84-billion (or perhaps … More