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  • Entitlements, Taxes & Spending

    Morning Bell: Is Now Really the Time To Create a New $2.5 Trillion Entitlement?

    In theory, the federal government has $2.5 trillion stashed away in a nondescript office building in the sleepy little town of Parkersburg, West Virginia. That is where the Treasury Department keeps stacks of nonnegotiable Treasury bonds payable to the Social Security Administration. But as the Associated Press reported yesterday, for … More

    The Real Debt Washington Doesn’t Want You to Know About

    Remember how public anger over the federal debt reaching new sky-high levels last year drove lawmakers into a flurry of discussions about budget controls? Responding to public and international pressure to do something about permanently spiraling deficits, President Obama established a flawed commission to tackle the spending problem. Congress, doing … More

    Government Dependency Grows As "Non-paying" Taxpayers Hits Record Level

    The Tax Foundation recently released its annual report on the number of tax returns filed that have no tax liability, and the study shows a record number of “nonpayers” in 2008. Taxpayers become “non-payers” when credits and deductions wipe out any income tax they owe. According to the Tax Foundation … More

    Protect Defense with Spending Limits

    Reps. Jeb Hensarling (R-TX), Mike Pence (R-ID), and John Campbell (R-CA) recently unveiled a proposal to impose a limit on federal spending of 20 percent of Gross Domestic Product (GDP).  This proposal serves as a necessary reminder that current federal spending is out of control and certain to grow further … More

    Cost of Health Care Likely to be Much Higher than $2.5 Trillion

    From the start the president’s health care cost estimates were much too modest. Here’s why: First, the administration’s accountants left off the books nearly a quarter-trillion dollars in what’s called the “Doc Fix”. Originally, the formula was designed to prevent total Medicare physician spending from growing faster than the Medicare … More

    Stop the Spending Now

    Federal spending is out of control. Even President Obama knows it.  To really stop the madness, Reps. Jeb Hensarling (R-TX), Mike Pence (R-IN), and John Campbell (R-CA) have proposed a simple solution – a constitutional amendment capping federal spending at 20 percent of the economy. Their proposal puts the debate … More

    Video: Obamacare is Entitlement Expansion, not Entitlement Reform

    One of the best kept dirty little secrets of Obamacare is that over half of the health insurance expansion obtained by Americans through the bill is accomplished by putting them on the welfare program Medicaid. Rep. Pete Roskam (R-IL) not only made this point yesterday, but also highlighted a great … More

    The New Party of “No”

    Rep. Paul Ryan (R-WI) recently introduced the “Roadmap for America’s Future”, a plan to reduce federal spending, pay off the national debt, and ensure future American prosperity.  The Roadmap would create long-term fiscal solvency in the three federal entitlement programs—Medicare, Medicaid, and Social Security—which otherwise promise to drive the nation … More

    Social Security Surplus Withers, But That's No Surprise

    Hundreds of thousands of recession-induced retirements are proving to be terrible news for the Social Security Administration, leading to the total decimation of its annual surplus for the first time in 25 years, according to USA Today. But this morning’s headline really doesn’t qualify as “news,” per se, given that … More

    Social Security Bailouts Begin in 2010

    Fiscal reform has become a hot topic in Washington as spending hits all-time highs and Congress and the President continue to push several new high-ticket items closer to law.  Lawmakers and concerned citizens alike are shifting focus to the looming fiscal crisis that will be caused by from entitlement spending … More