Our nation is on an unsustainable fiscal course. The three major entitlements – Social Security, Medicare, and Medicaid – alone are set to eclipse historical tax levels by 2052 and a realistic assessment of the Congressional Budget Office baseline shows the government piling on an additional $13 trillion over the …
Tonight in his State of the Union address, President Barack Obama is expected to propose a “freeze” on government spending. Obama’s spending “freeze” will only last three years, will not start until 2011, will only apply to a $447 billion slice of the federal government’s $3.5 trillion budget, and will …
The President has the right idea with his proposal to freeze spending. Unfortunately, after driving spending to a record $3.7 trillion—nearly 26% of GDP—last year with the accompanying $1.4 trillion deficit, the proposal is at best a bit….underwhelming. According to the administration, only $447 billion in spending would be subject to …
Today in Washington, the Bipartisan Policy Center (BPC) launched its new Debt Reduction Task Force, chaired by former Sen. Pete Domenici (R-NM) and former OMB director and CBO director Dr. Alice Rivlin. The task force will aggressively address the abysmal fiscal outlook of the United States economy due to government …
The vote looming in the Senate to raise the debt limit should serve as a wake-up call that federal spending is out of control. Instead, Democratic leadership has tried to convince Americans that passing costly health care legislation is not only sensible, but requisite, and must be done now. Neither …
From the President who brought you unaccountable, constitutionally-questionable czars comes the latest innovation in pass-the-buck leadership: a White House executive commission designed to solve the behemoth of a spending problem plaguing the federal government. Members of Congress have described the commission as a “nothing burger,” a “fig leaf” and “something …
After quietly increasing the federal debt limit from $12.1 trillion to $12.4 on Christmas Eve, the US Senate is beginning debate today on yet another increase. Hoping to avoid making the skyrocketing debt levels an election issue; this time around they want to pass an increase large enough to feed their …
As Congress returns to Washington, the crucial decisions that await lawmakers will have enormous financial ramifications for the country for years to come. House and Senate leaders continue their struggle to land a health care bill on the President’s desk this month, even though proposed legislation would add to the …
