There is no threat to our nation’s fiscal health greater than the coming deficits from unrestrained growth in Social Security, Medicare, and Medicaid. Already Social Security and Medicare consume 7.5% of our GDP. Unless changes are made that figure will jump to 13% by 2030. Bravely stepping in to offer …
At the request of the Ranking Member of the House Budget Committee Rep. Paul Ryan (R-WI), the Congressional Budget Office (CBO) released a letter (pdf) today detailing the grave fiscal situation our country will be in should Congress fail to reform Social Security, Medicare, and Medicaid now. Already Social Security …
Yesterday in Oakland, Calif., in celebration of May Day, public school children were taught that the war in Iraq was to blame for proposed education funding cuts. Never mind that not a single dime of California’s $20 billion budget deficit went to defense spending; teachers’ unions weren’t concerned with the …
Heritage Foundation Vice President for Domestic and Economic Policy Studies, Stuart Butler, Ph.D., will be at kaisernetwork.org today at 1:30 p.m. answering questions about the presidential candidates health care policy plans. Kaiser makes the following pitch: A number of proposals to expand health insurance coverage — including those put forward …
Today, an authoritative and diverse group of scholars warned the American people: “If present trends continue, the nation’s deficit will reach unmanageable proportions, other vital public needs will be further squeezed, and/or taxes will have to rise continuously to levels that could restrict economic growth.” No, these scholars were not …
Following up on yesterday’s post on the Social Security and Medicare Boards of Trustees report, The Heritage Foundation released a chart today looking at how projected spending on entitlement programs is scheduled to crowd out all other spending by 2052 unless taxes as a percentage of GDP are raised significantly:
There are few better illustrations of the fundamental difference between liberals and conservatives than their markedly different approaches on how to curb special interest power in Washington. Liberals try to control the economy through ever more invasive regulations and when the regulated industries push back, liberals pass ever more stringent
The House Republicans have released an alternative to the Democrats’ budget. Instead of following the Democrats’ path of raising taxes by more than $3,000 per household to finance large spending hikes, the GOP would maintain current tax rates, repeal the Alternative Minimum Tax, and rein in runaway discretionary spending. Importantly, …
As the House prepares to vote on the Democrat budget resolution, let’s take another look at what the plan would mean for hard-working Americans: It raises taxes by $1.265 trillion over five years and $3.911 trillion over 10 years, or more than $3,135per household annually; It includes 17 reserve funds …
