Next week, President Obama will release his budget proposal for fiscal year 2012. Though the President’s budget carries no real legislative weight, it will showcase his financial priorities and the seriousness of his rhetorical commitment to rein in federal spending. A recent New York Times article by Jacob Lew, the …
Last week, House Budget Committee Chair Paul Ryan (R-WI) outlined $58 billion in non-security domestic spending cuts. Within hours, Senator Harry Reid (D-NV) attacked the proposal calling it “unworkable” and “even more draconian than we originally anticipated.” But these outcries were hardly unexpected considering Washington’s spending addiction. As National Review’s …
Last week served up another dose of reality for Obamacare supporters. In addition to House committee hearings that exposed the negative effects of the new law, the Congressional Budget Office (CBO) released its new 10-year baseline, which unveils the “daunting economic and budgetary challenges” facing the United States. In 2011, …
During last year’s State of the Union address, President Obama emphasized the need to restore fiscal responsibility in Washington. The federal government racked up a $1.3 trillion deficit in 2010, and the long-term fiscal outlook is even worse. While the average historical deficit stands at 2.9 percent of gross domestic …
The Wall Street Journal reports: “President Barack Obama will call for new government spending on infrastructure, education and research in his State of the Union address Tuesday … Mr. Obama will argue that the U.S., even while trying to reduce its budget deficit, must make targeted investments to foster job …
The new Congress has made spending reduction a priority. This week, Members are getting to work on that promise. Yesterday, by a vote of 245–189, the House passed legislation to fully repeal Obamacare. The new health law represents unsustainable new spending, including an expansion of Medicaid and the creation of …
This morning, The Heritage Foundation and The Wall Street Journal released the 2011 Index of Economic Freedom, and while the news is good for many countries, it is depressing for the United States. All told, 117 countries, mainly developing and emerging market economies, improved their Economic Freedom Index score. Meanwhile …
