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  • federal debt

    Morning Bell: Why Should I Care About the U.S. Debt?

    You’re busy. So busy you barely have time to read these words. So why should you care about the us debt? Does it affect your life? Unfortunately, high government debt is having more of an impact on each of us than we realize. Heritage’s Romina Boccia explains that high levels … More

    Chart of the Week: Growth of Government Assistance Adds to National Debt

    More than 41 percent of the U.S. population is “enrolled in at least one federal assistance program,” adding tens of billions of dollars to the national debt each year, according to new research by The Heritage Foundation’s Patrick Tyrrell and William W. Beach. That means that a startling number of … More

    Morning Bell: 10 Facts on the Fiscal Cliff, Debt, and Spending

    Budget policy in 2012 was characterized by deficit spending, major increases in the national debt, and a heated debate over the “fiscal cliff.” With just days left for President Obama and lawmakers in Congress to avert a major tax hike, sequestration, and other major policy changes, today we bring you … More

    Morning Bell: $16,000,000,000,000

    Yesterday, the U.S. national debt passed $16 trillion. On President Barack Obama’s watch, the debt has increased by 50 percent, as campaign promise after campaign promise has drowned in a sea of federal spending. When he was running for President, Obama condemned George W. Bush for adding $4 trillion to … More

    U.S. Debt Hits $16 Trillion

    Today, the U.S. debt clock hit $16 trillion. Compare that to the end of 2008, just days before President Obama officially took office, when the total federal debt was short of $10 trillion. That’s a 60 percent increase in the federal debt in less than 4 years! Now more than … More

    Morning Bell: The Debate Over China

    Want to hear something disturbing? China has increased its defense budget by double digits every year for the last 20 years. Just as China seems to be gearing up for some undefined enterprise, the U.S. is winding down its defense budget at a similarly rapid pace. Despite the obvious contrast, … More

    VIDEO: Sen. Mike Lee Says Obama’s Jobs Plan Will Make Problem Worse

    Sen. Mike Lee (R-UT) came to Washington as the a tea-party conservative with the goal of fixing the economy, addressing the debt crisis and curbing the growth of the federal government. It’s an uphill battle for the youngest member of the U.S. Senate, but one he’s prepared to fight. Lee’s … More

    Senator Predicts Court Challenge If Obama Uses 14th Amendment for Debt

    Sen. Ron Johnson (R-WI) today predicted lawmakers would take President Obama to court if he deemed the debt ceiling is unconstitutional under the 14th Amendment. Liberals have floated the desperate and devious ploy in recent days to avoid spending cuts demanded by conservatives. “If the president decides to do that … More

    Can You Call it 'Social Security' if it's Built on Nothing but Monopoly Money?

    Social Security faces the serious danger of failing to live up to its name due to its unfunded obligations. Last week, the Social Security and Medicare trustees issued their report on the fiscal outlook for the program. We reported that: Social Security has a $7.9 trillion shortfall (up $0.1 trillion … More

    Hoyer Makes it Official - Congress Shuns Budget Duties

    The term ‘fiscal responsibility’ is en vogue in Washington these days.  Lawmakers have been quick to claim they will tackle the federal government’s impending financial crisis, a claim showcased by the President’s commission to reduce the federal deficit.  But Congress’ recent behavior proves they are no more serious about reining … More