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    A Spend-More, Tax-More, and Borrow-More Budget Would Hurt, Not Help

    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 … More

    Hunting for Surprises in the Obama Budget

    It is somehow fitting President Obama released his budget for Fiscal Year 2014 after Easter, a mere 65 days late—but who’s counting? Fitting because going through Obama’s budget is like an Easter egg hunt for which those in charge of hiding the eggs are masters of their craft. It takes … More

    Morning Bell: Obama's Fake Budget Marketing Exposed

    President Obama is marketing his new budget by saying it has “more than $2 in spending cuts for every $1 of new revenue.” Is this true? In a word, no. In fact, his spending increases and advertised spending cuts cancel each other out—leaving only a massive tax increase. The President … More

    It’s Time to Stop Picking Winners and Losers in the Energy Industry

    Representative Mike Pompeo (R–KS) hopes his new bill calling for the repeal of all energy tax credits on both conventional and renewable energy sources will level the playing field for energy producers and consumers and prevent the government from picking “winners and losers.” The Energy Freedom and Economic Prosperity Act … More

    Lesson for Warren Buffett: British Millionaires' Response to Tax Increases

    As the fiscal cliff approaches, Congress and President Obama continue to debate tax increases, even though spending is the problem. Investor Warren Buffett recently opined that tax hikes on the wealthy would not curtail investments or hurt the economy. His logic, like President Obama’s, assumes that incentives don’t matter. Oh … More

    Fiscal Cliff: Where Are Your Spending Cuts, Mr. President?

    The fiscal cliff debate has centered on talk of raising taxes on high-income Americans. The silence on spending cuts has been deafening. On Monday, as if on cue, came investor Warren Buffett’s rehashed—albeit flat-out wrong—proposal to raise taxes on the wealthy. Even though the Obama Administration has said both sides … More

    Warren Buffett Wrong Again on Tax Increases

    As we approach the “fiscal cliff,” there was little doubt that famed investor and self-appointed political sage Warren Buffett would pipe in at some point with his periodic call for higher taxes on his ilk of billionaires. Today was the day. Buffett, of course, is welcome to his opinion, but … More

    Chart of the Week: Obamacare's 17 New Taxes

    Americans who feel overtaxed already are in store for a shocker: Obamacare will add 17 new taxes or penalties for a whopping cost of $502 billion over its first 10 years. This week’s chart illustrates the new taxes and offers a year-by-year rundown of their annual costs. These taxes will … More

    Gingrich Wants House GOP to Pass Democrat-Backed Offshore Drilling Bill

    Speaking at Heritage this morning, former Speaker Newt Gingrich called on House Republicans to put politics aside and pass a new proposal from two Democratic senators that would expand offshore drilling off Virginia’s coast. Gingrich suggested it should be one of the top priorities for the House GOP when lawmakers … More

    Deficits: Spending, Not Revenue, Is to Blame

    Deepening federal budget deficits indicate that one component of the federal budget baseline—either spending or revenue—is out of alignment. Closer inspection reveals that spending is the root cause, but both spending and revenue deserve equal treatment in policy discussions about reducing debt and deficits. Often, however, Members of Congress and … More