The Congressional Budget Office (CBO) today released a ten-year budget baseline showing $6 trillion in deficits over the next decade. Yet because Congress requires the CBO to include all sorts of unrealistic assumptions (that all tax cuts will expire, that the AMT will never again be patched, that discretionary spending …
Tonight in his State of the Union address, President Barack Obama is expected to propose a “freeze” on government spending. Obama’s spending “freeze” will only last three years, will not start until 2011, will only apply to a $447 billion slice of the federal government’s $3.5 trillion budget, and will …
This month, Congress will face every shopaholic’s worst nightmare: a maxed out credit card. After a year of seemingly endless government spending, the Senate must now vote to increase the limit on how much debt the federal government can carry. Lawmakers really have no option but to pass this unfortunate …
Last spring, President Obama proposed $11.3 billion worth of discretionary spending cuts. Today’s Washington Times notes that Congress accepted $6.9 billion worth of these cuts, a 61 percent success rate. In a $3.6 trillion federal budget, that comes to just 0.2 percent of the federal budget. But there is a …
As Congress returns to Washington, the crucial decisions that await lawmakers will have enormous financial ramifications for the country for years to come. House and Senate leaders continue their struggle to land a health care bill on the President’s desk this month, even though proposed legislation would add to the …
Spending. As Heritage Foundation Senior Policy Analyst Brian Riedl explains, runaway federal spending is where our historic levels of debt are coming from. Watch: And as Reidl mentions, as fast as spending has been rising this century, thanks to our long term Entitlement obligations, our spending and deficit problems will …
Interest. Or to be more precise, interest payments. That, Heritage Senior Fellow J.D. Foster explains, is the biggest reason why Americans should be very concerned with the trillions of dollars in debt our federal government is piling up in Washington. Watch: And the situation is only going to get worse …
A million here, a million there, and pretty soon we’ve got real money. So said Illinois’s Sen. Everett Dirksen, the long-time Minority Leader during the 1960s. who often reminded his colleagues about how quickly a million here and there added up to enormous sums of public spending. Today, of course, …
The Heritage Foundation’s 2009 Federal Revenue and Spending Book of Charts is one of the most heavily trafficked features on our homepage. Here, by traffic, are the Top Ten Charts of 2009: 10. Federal Spending per Household Is Skyrocketing
The Cato Institute’s Dan Mitchell and the Center for Freedom and Prosperity Foundation, have produced videos explaining why Keynesian economics is wrong, presenting the evidence that big government hurts economic growth, explaining how big government hurts economic growth, making the case against the Value Added Tax, and detailing the real …
