Uncle Sam is spending you into the poorhouse. Taxes, inflation, unemployment, interest rates – all could skyrocket if Washington keeps spending trillions of dollars it doesn’t have. Unless we begin to cut spending now (a lot of spending) these four horsemen of debt will ride roughshod over families and businesses …
“We have an Administration that is saying, we want you to vote on the debt ceiling and continue business as usual. No reforms, no cuts in spending,” explains Senator Pat Toomey (R-PA). With pragmatic perspective and common-sense suggestions, Toomey debunked the debt limit hysteria in a speech at The Heritage …
Update – 9:00PM: Earlier this evening, Senator Harry Reid (D-NV) decided against proceeding with the omnibus bill, promising instead to pursue a short-term continuing resolution. As we reported this week, Congress is considering a new $1.1 trillion omnibus spending bill. This 2,000 page monster is the result of a refusal …
In advance of today’s vote on the National Commission on Fiscal Responsibility and Reform’s report, there has been increased attention on the nation’s fiscal health and the serious dangers posed by our out-of-control national debt. But while this issue has garnered increased scrutiny, some continue to ignore the real cause …
The Government Accountability Office (GAO) has released yet another dire warning about the nation’s long-term fiscal condition. The report—an annual update of long-term budget simulations—projects that debt held by the public will likely exceed the historical high within 10 years. What was once viewed by many as a distant budget …
Today, Heritage budget expert Brian Riedl testified before the National Commission on Fiscal Responsibility and Reform, more commonly known as President Obama’s “deficit commission.” The commission has been tasked to offer suggestions to reduce the federal deficit—a necessity which was proven even more serious today by the release of the …
Indiana Governor Mitch Daniels stopped by the Heritage Foundation yesterday to meet with conservative bloggers. His visit came a few days after The Weekly Standard released a lengthy piece on him, written by TWS Senior Editor Andrew Ferguson. Afterwards, he sat down with us for an exclusive “In the Green Room” …
In an ode to irony, The Fiscal Times reports that President Obama’s Commission on Fiscal Responsibility and Reform (more popularly known as the “debt commission”) is running out of money: President Obama’s bipartisan fiscal commission is operating on a shoestring budget and some panel members and lawmakers worry that it …
Germany has taken the clear lead as the European sovereign debt crisis unfolds. This is an obvious outcome because of Germany’s relatively tight rein on government deficits and its policies that have made it Europe’s toughest competitor. Germany’s clear ascension is both good news and bad for Europe, and a …
