While you were sleeping—or ringing in 2013—the Senate voted to raise taxes. After missing the midnight deadline, Congress and the President have technically sent the nation over the fiscal cliff, meaning higher tax rates are already in effect for all income tax brackets. But the Senate’s deal, brokered by Senate …
Budget policy in 2012 was characterized by deficit spending, major increases in the national debt, and a heated debate over the “fiscal cliff.” With just days left for President Obama and lawmakers in Congress to avert a major tax hike, sequestration, and other major policy changes, today we bring you …
Last week North Korea successfully launched an Unha-3 rocket, thereby demonstrating an alarming capability to target U.S. territory with ballistic missiles. China is rapidly expanding its fleets and arsenals in an unprecedented military build-up, while intimidating other countries in East Asia—including U.S. allies. The Middle East is a conflagration of …
The threat of sequestration—the half-trillion dollar cut to defense set to occur January 2, 2013—has been debated and prevention plans have been discussed since before it was even written into law. The budgetary measure was written to be so unpalatable that Congress and the Administration would have to find a …
“When you can’t make them see the light, make them feel the heat.” President Ronald Reagan’s sound advice rang true yesterday. Grassroots activists and conservative groups, led by Heritage Action for America, derailed a plan to raise taxes on some Americans and small businesses. Lacking votes from his own party, …
Rumors are swirling that included in their negotiations to avert the “fiscal cliff,” President Obama and House Speaker John Boehner (R–OH) may add an additional $100 billion in cuts as an alternative to the roughly $500 billion in defense budget cuts over nine years required by sequestration under the Budget …
House Speaker John Boehner (R-OH) and Republican leaders have done it once again. Their latest fiscal cliff proposal capitulates on core conservative principles, yielding woefully inadequate concessions from President Obama in the process. Will they ever learn? The latest GOP offer essentially ignores Washington’s real problem — spending — and …
The latest fiscal cliff proposal by Speaker of the House John Boehner (R–OH) is infuriatingly frustrating to conservatives, again. In exchange for $1 trillion in tax hikes—including the President’s immediate tax rate hike on the wealthy—Boehner asked for just $1 trillion in spending cuts. And, to sweeten the pot for …
If sequestration becomes a reality in January 2013, the Department of Defense (DOD) will cut another $500 billion from an already slashed defense budget. These cuts are likely to negatively affect many American allies—especially the United Kingdom. Here are two programs that London should watch carefully: 1. The Short Take …
