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    CBO Report Estimates 2014 Deficit at Half a Trillion Dollars: Why The Real Deficit Number is Actually Higher

    Today the Congressional Budget Office (CBO) released its updated projections for the 2014 federal budget. CBO reports the 2014 deficit at $492 billion, just shy of a half a trillion dollars. However, this estimate should be taken with a heap of salt: It is arguably misleading to the extent that … More

    CBO Affirms What We’ve Known All Along: Reducing National Debt Will Grow the Economy

    House Budget Committee Chairman Paul Ryan’s (R–Wis.) steps to reduce the budget would help boost economic growth. Ryan’s 2015 budget proposal contains more than $5 trillion in savings over 10 years and balances by the end of the budget window, leaving a $5 billion surplus in 2024. Ryan’s budget acquires … More

    Printing Money: Adopt a New Typeface and Save $136 Million in the Federal Budget

    The federal government can make a decision that would save taxpayers millions of dollars, and it wouldn’t have to cut programs, furlough workers, or even reduce duplicative spending: All it has to do is adopt a new uniform typeface to be used in all government documents. That’s right—saving $136 million … More

    How to Hide Billions in Taxpayer Money and Get Away With It

    Spine-tingling TV shows and movies are always featuring spy capers that are “off-book.” Their existence is on a need-to-know basis, and sure, they’re being funded, but no one sees where that money’s going. There’s a very real, very expensive—and a lot less thrilling—off-book operation going on in Washington. The Treasury … More

    No More Band-Aids for Defense Acquisition

    Last week Admiral Mullen highlighted the national security consequences posed by the national debt as he keynoted Concerned Veterans for America’s fifth and final event in their Defend & Reform Breakfast series. This series outlined the ways Americans can contribute to freedom by advancing reform. Reiterating his now famous warning, … More

    U.S. Trade Deficit: Made in Washington, D.C.?

    The Treasury Department recently reported that China and Japan are the largest foreign holders of U.S. government debt. China now owns $1.317 trillion in U.S. government debt. Japan owns another $1.186 trillion. It is no surprise that China and Japan are also the two countries with which the United States … More

    No More Spending Cuts to Make? Heritage Expert Says There Are Plenty

    Congress is close to releasing a massive spending bill to fund the federal government, and Heritage budget expert Romina Boccia says there is plenty of waste to cut. Speaking on Fox Business Network’s Cavuto, Boccia listed the top 10 examples of government waste for 2013. Asked why she picked examples … More

    The Ryan–Murray Budget Deal: Unnecessary Pain for Americans

    The controversial budget deal reached by Representative Paul Ryan (R–WI) and Senator Patty Murray (D–WA) has been criticized by experts on both sides of the issue for delaying needed budget reforms. Romina Boccia, Heritage’s Grover M. Hermann Fellow in Federal Budgetary Affairs, discussed the deal with Obama’s car czar Steven … More

    Lack of Resources Is Not the Reason for SEC Tardiness

    During a recent House Financial Services Committee mark-up, a number of members complained that the Securities and Exchange Commission (SEC) was “slow walking” the regulations necessary to implement the very positive and bipartisan Jumpstart Our Business Startups (JOBS) Act enacted in 2012. The SEC opposed most provisions in the JOBS … More

    Debt: Seven out of 10 Voters Think the U.S. Is on the Wrong Track

    A recent Peterson Foundation poll showed that 70 percent of registered voters believe that the country is on the wrong path when it comes to addressing the debt. This is just the latest indication that Americans are increasingly pessimistic about the nation’s financial future. The poll, which also shows that … More