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  • federal budget

    Quiet Before the Storm: CBO Reports $642 Billion Deficit in 2013

    At $642 billion, the Congressional Budget Office (CBO) reports, the 2013 deficit will be lower by $200 billion than previously forecast. In February, the CBO projected a deficit of spending over revenue of $845 billion, but a large and temporary boost in revenues is pushing that figure down. Like the … More

    Temporary Debt Paydown Just a Drop in the Bucket

    Reports that the federal government will put a little bit of money toward the massive federal debt for the first time in six years make for an interesting tidbit, but Washington’s spending and debt problem is only getting bigger. The Wall Street Journal reports, “The Treasury Department said that it … More

    Budgets in Comparison: Will President Obama’s Budget Save the American Dream?

    When the President’s budget comes out Wednesday, it will complete the last piece of the budget puzzle, as the House and Senate have each duly passed a budget according to law. Never mind that the President’s budget is supposed to lead Washington budget discussions, rather than follow. The key question … More

    Obama Budget Likely to Veil Continued Defense Sequestration

    Tomorrow, President Obama will finally release his overdue budget request, and the next day, the House Armed Services Committee will hold a hearing on that request. The hearing witnesses will be Secretary of Defense Chuck Hagel and Chairman of the Joint Chiefs of Staff, General Martin Dempsey. It appears likely … More

    Good News! Obama’s Sequester Cuts USDOC Programs!

    As if we didn’t have enough to worry about, earlier this month an official from the U.S. Department of Commerce (USDOC) warned that many activities at USDOC—such as the activities of the USDOC’s International Trade Administration (ITA) and the U.S. Foreign Commercial Service—will have to be scaled back due to … More

    What Is Vote-a-Rama? Watch Our Google+ Hangout at Noon ET Today

    Why does President Obama have time to release his final four picks for the NCAA basketball tournament, but can’t meet the federal budget deadline? For the past two weeks in Washington, Representative Paul Ryan (R-WI) and Senator Patty Murray (D-WA) have squared off in a battle over the federal budget, … More

    FY 2014 Budget Should Keep Defense Fully Funded

    Heritage’s newly released Issue Brief “What the FY 2014 Budget Should Do” provides a blueprint for turning back Washington’s unsustainable spending and keeping national defense fully funded. Modernizing the U.S. military is critical. After all, “to provide for the common defense” is one of the primary constitutional responsibilities of the … More

    Morning Bell: 6 Things the Next U.S. Budget Should Do

    It’s time for Congress to make a real budget—and not just any budget. It’s been four years since the U.S. had a real budget. While the House of Representatives has passed budgets, the Senate has stopped each one. Instead, the Senate under Majority Leader Harry Reid (D-NV) has done short-term, … More

    Strong Defense and Fiscal Responsibility: It’s Possible

    Public perception may be that the sequestration cuts to the defense budget is about eliminating waste and inefficiency in the Department of Defense (DOD). In reality, sequestration will result in the loss of military capabilities. Then-Secretary of Defense Leon Panetta acknowledged in a January press conference that of the Obama … More

    Unused Federal Buildings: No Room for Sequestration Cuts?

    About 77,000 unused or underused federal buildings cost taxpayers $1.67 billion to operate and maintain in 2010 alone (latest data available), according to a Congressional Research Service (CRS) report from last year. Unlike your typical house on the market today, these buildings are beyond unsightly. The word derelict might not … More