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    An Additional $47 Billion in Spending Cuts for the Continuing Resolution

    House Republicans are now pledging to reduce fiscal year 2011 discretionary spending to $100 billion below President Obama’s original request. As reported, this new budget proposal would: Unwisely reduces security spending by $16 billion relative to President Obama’s request; and Reduce non-security spending by $84 billion relative to President Obama’s … More

    Morning Bell: Bernanke Helps Defuse "Default"

    Our federal government is currently $14.1 trillion in debt. The vast majority of the American people believe this number is far too high and on track to go far higher. Fortunately, Congress created a mechanism to force itself to reexamine its spending habits when budget deficits got out of control: … More

    Preview of President's Budget Leaves a Lot to Be Desired

    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 … More

    On Those "Draconian" Spending Cuts

    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 … More

    If Debt Hits the Ceiling, Make Interest Top Priority

    As the Treasury Department reminded us on Wednesday, the federal government will likely reach the debt limit sometime between April 5 and May 31. Hitting the debt ceiling provides a rare moment when Congress and the President are forced to take a stand on a most fundamental and difficult issue: … More

    Obamacare Does No Favors for the Nation’s Fiscal Outlook

    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, … More

    Will President Obama Use the State of the Union Address to Go the Distance on Federal Spending?

    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 … More

    Morning Bell: State of Denial

    This is only President Barack Obama’s second State of the Union, but his failed economic agenda has already forced him into early reruns. After more than $800 billion in Keynesian economic stimulus spending, our nation is still mired in a post World War II record 20th consecutive month of near … More

    Government Spending vs Economic Growth

    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 … More

    What Do You Call $2.5 Trillion in Spending Cuts? A Good Start

    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 … More