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    GAO: Public Debt Will Surpass WWII Highs Within 10 Years

    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 … More

    If Deficit Commission Is Serious, They Ought to Look at Welfare Reform

    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 … More

    In the Green Room: Governor Mitch Daniels (R-IN) on Tackling America's Problems

    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” … More

    Irony Alert: Debt Commission is Running Out of Money

    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 … More

    The Message to the U.S. in Germany’s Ascension

    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 … More

    Obama’s "Line-Item Veto" Really Just Tweaking Existing Authority

    Later this month, the Obama Administration is expected to submit a plan to Congress seeking additional power to cut specific items from spending bills. This proposal is commonly called the “Line-Item Veto,” named after the law ruled unconstitutional in the 1990’s. However, line-item vetoes did not require Congressional approval, while … More

    Can U.S. Avoid Greek Disaster if Washington is Asleep at the Wheel?

    Greece’s recent escapades in economic disaster are a sobering example to the United States of the consequences of allowing government spending to far exceed revenue.  But though Americans’ concern regarding the financial outlook of the federal government grows, those with the power to act something seem largely unaffected. The International … More

    We’re Not Greece ... Yet

    In his latest New York Times column, Paul Krugman manages to make some useful observations before slipping into his usual role of distorting propagandist. His most important observation is in his title, “We’re Not Greece”. For that matter, we’re not Portugal or France, either, for all of which we can … More

    Guest Blogger: Rep. Leonard Lance (R-NJ) on the Value-Added Tax

    The presidential Commission on Fiscal Responsibility and Reform convened Tuesday at the White House to address what leaders of both parties agree is one of the greatest threats to the country’s economic future: the rising national debt.  Recently President Obama and members of his economic team voiced their support for … More

    The Real Debt Washington Doesn’t Want You to Know About

    Remember how public anger over the federal debt reaching new sky-high levels last year drove lawmakers into a flurry of discussions about budget controls? Responding to public and international pressure to do something about permanently spiraling deficits, President Obama established a flawed commission to tackle the spending problem. Congress, doing … More