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  • national debt

    No Room for Spending Cuts? How About Government Employee Trips to the Caribbean?

    If government employees can enjoy a stay in a luxury hotel made famous on The Bachelor, then surely Congress could find somewhere to make spending cuts. In November, a group of federal government employees connected with the U.S. Coral Reef Task Force enjoyed a trip to St. Croix, courtesy of … More

    Black Friday Spending Spree (in Washington)

    American shoppers aren’t the only ones getting ready to spend big this holiday season. In Washington, members of the budget conference committee are considering several options that could increase spending by up to an additional $100 billion. What’s standing in their way is sequestration: the automatic spending cut mechanism President … More

    Debt: Seven out of 10 Voters Think the U.S. Is on the Wrong Track

    A recent Peterson Foundation poll showed that 70 percent of registered voters believe that the country is on the wrong path when it comes to addressing the debt. This is just the latest indication that Americans are increasingly pessimistic about the nation’s financial future. The poll, which also shows that … More

    $17,000,000,000,000

    President Obama boasted last week that he had signed legislation to lift “the twin threats” to our economy of government shutdown and default. But what was done to fix the problem of growing debt that leads Washington to repeatedly raise the debt ceiling? Nothing. In fact, by Friday, the U.S. … More

    Three Magic Tricks Washington May Try to “Solve” the Debt Crisis

    Yesterday in a press conference regarding the national debt, President Obama stated: “There is no magic wand that allows us to wish away the chaos.” This is true, especially when one considers America’s massive debt and its long-term consequences. However, as Congress and the President (finally) begin to grapple with … More

    61% of Americans Want Spending Cuts Before Debt Limit Is Raised

    A clear majority of Americans believes that imposing a firm limit on borrowing with spending cuts is the only chance for Congress to kick its gluttonous spending habit. A recent poll released by Bloomberg shows that the majority of Americans oppose President Obama’s demand that Congress raise the debt ceiling … More

    Debt Ceiling Raised Seven Times Under Obama, Costing $43,000 Per Household

    Did you know that since President Obama came into office, the debt limit has been raised seven times? With those increases, Congress has added $43,000 in debt for every American household in just the last four years. And now the debt limit deadline is looming again. Treasury will run out … More

    Plan to Suspend Debt Limit Means Debt Would Rise to $17.8 Trillion

    Treasury Secretary Jack Lew announced a new debt ceiling deadline today, urging congressional lawmakers and the President to come to an agreement concerning the nation’s borrowing authority by October 17. Republicans are proposing a $1.1 trillion increase in the debt limit by suspending the cap through December 2014. The big … More

    Carbon Regulation: Time for America to Learn from Australia’s Mistake

    Australia’s new Prime Minister Tony Abbott, who won a landslide victory earlier this month, vowed to promptly scrap the nation’s tax on carbon emissions. He began to follow through at his first cabinet meeting. Also in line to be repealed are several commissions organized by the previous government to provide … More

    Morning Bell: 6 Reasons Why the National Debt Keeps Rising

    Out-of-control spending by Congress and the Obama Administration has once again maxed out the latest debt limit—a nearly $17 trillion burden that harms job growth, gives special interests a pass, and lowers American families’ personal income. Inspired by Dave Ramsey’s recent post “6 Reasons People Stay in Debt,” we compiled … More