• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • national debt

    What You Need to Know About the Debt Limit

    The Congressional Budget Office just dropped a budget update on Washington, and it’s not good. The U.S. government is spending recklessly—and Obamacare is adding fuel to the fire. The new report comes at a crucial time, as negotiations over the debt limit are starting up again. Here are some basics … More

    Don’t Hit Snooze on the Debt

    The national debt is a few years away from an unprecedented peacetime explosion, according to the Congressional Budget Office (CBO). Without serious fiscal restraint, public debt will reach 80 percent of gross domestic product (GDP) in 2022 and then explode to 190 percent of GDP in 2038, around the time … More

    How to Cut $42 Billion in Spending in the FY 2014 Continuing Resolution

    Congress is in the midst of debating spending levels in a fiscal year (FY) 2014 continuing resolution. It’s no surprise that the two chambers disagree over how much to spend and funding for the President’s damaging health care law. The Senate proposes to spend $1.058 trillion, dismissing the spending caps … More

    While Debt Crisis Looms, Washington Still Focused on Undoing Sequestration

    Lawmakers are on track to bargain away the one spending cut they got. The Washington Post reports that President Obama and a group of Republican Senators stalled on a budget deal on Thursday that revolved in part around the question of how to best renege on sequestration. Republicans want to … More

    15 Pictures of Ridiculous Government Spending Guaranteed to Make You Mad

    In 2013, federal spending approached $3.5 trillion. Now that’s hard to wrap your brain around. It’s about $27,700 for every American household. All across America, families balance their budgets, rein in spending, and pay down their debts. If Americans can do it, why can’t the federal government? Instead, they’re wasting … More

    Social Security Turns 78: What Was It Meant to Do?

    When President Franklin D. Roosevelt signed Social Security into law on August 14, 1935, he referred to it as “a law which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age.” But today’s Social … More

    6,300 Reasons the Government Is Dead Wrong on Farm Subsidies

    Congress has been wrangling for months over how to trim the taxpayer burden of bountiful subsidies to farmers. Here’s a thought: Stop paying the dead ones. Between 2008 and 2012, we now know, the U.S. Department of Agriculture (USDA) disbursed more than $36 million to some 6,300 farmers who had … More

    Defund Obamacare: Make Your Voice Heard This August

    Members of Congress head home tomorrow for a month-long recess. Although they are escaping Washington, they won’t get a break from important issues that are awaiting them in September. Chief among them is the fight to defund Obamacare. With just two months until enrollment opens for Obamacare’s insurance exchanges — … More

    Detroit Bankruptcy Is No Time for Federal Bailouts

    The city of Detroit filed for Chapter 9 bankruptcy protection yesterday with some $18 billion in debt, making it the largest municipal bankruptcy in the United States. There will inevitably be calls for the federal government to bail out Detroit. Washington should set a firm precedent now that it will … More

    Hurrah Too Soon: White House Budget Revision Shows $759 Billion Deficit in 2013

    The President’s Midsession Review, released this week, projects the 2013 deficit to be lower by $214 billion compared with the earlier Obama budget estimate released in April. But any hurrah would be misplaced. Most of the short-term improvement comes because revenue from the tax increases passed in December 2012 is … More