Congress needs to drive down federal spending toward a balanced budget, including through entitlement reforms, while maintaining a strong national defense and without raising taxes. Neither the House of Representatives nor the Senate achieved that objective when they adopted their respective versions of the government budget for fiscal year 2014 …
At $642 billion, the Congressional Budget Office (CBO) reports, the 2013 deficit will be lower by $200 billion than previously forecast. In February, the CBO projected a deficit of spending over revenue of $845 billion, but a large and temporary boost in revenues is pushing that figure down. Like the …
Reports that the federal government will put a little bit of money toward the massive federal debt for the first time in six years make for an interesting tidbit, but Washington’s spending and debt problem is only getting bigger. The Wall Street Journal reports, “The Treasury Department said that it …
As Obamacare’s Medicaid expansion is being debated in the states, many myths are being perpetuated by its advocates. Here, Heritage provides the research to debunk such myths: 1. Myth: Expanding Medicaid is “free money” for the states. Reality: The expansion adds an estimated $638 billion in new government spending from …
James Clapper, Director of National Intelligence, recently told the Senate Armed Services Committee, “In my almost fifty years in intelligence, I do not recall a period in which we confronted a more diverse array of threats, crises, and challenges around the world.” Clapper and Lieutenant General Michael Flynn, Director of …
Now that the “Gang of Eight” has introduced a comprehensive immigration bill in the U.S. Senate, the cost to taxpayers of implementing amnesty for an estimated 11 million unlawful immigrants has come into focus. The core problem with amnesty is clear: It encourages more unlawful immigration in hopes of future …
The contentious immigration bill (S. 744) put together by the Senate Gang of Eight is a spending Trojan Horse with several provisions that simply declare open season on spending, allowing agencies to spend “as necessary.” The bill exploits a loophole in the Budget Control Act (BCA) that allows Congress to …
Last week, the President declared April 2013 National Financial Capability Month in an effort to encourage Americans to budget responsibly. This is a commendable goal. However, with the President’s budget more than two months late, it’s worth considering how the President is managing the nation’s finances: He grew the national …
While President Obama is traveling across the nation campaigning against sequestration at the very last minute, the economy is working through a tax increase nearly twice the size of the sequestration cuts for fiscal year (FY) 2013. The President knew for more than a year that sequestration was looming and …
