In his State of the Union Address, President Obama made several commitments to fiscal responsibility in the years to come. What do they really mean though? President Obama’s proposed three-year discretionary spending freeze, excludes defense, homeland security, veterans’ and international affairs, is somewhat promising. The savings won’t be large — …
Our nation is on an unsustainable fiscal course. The three major entitlements – Social Security, Medicare, and Medicaid – alone are set to eclipse historical tax levels by 2052 and a realistic assessment of the Congressional Budget Office baseline shows the government piling on an additional $13 trillion over the …
In his State of the Union address tonight, President Obama is expected to announce a freeze on federal spending with some notable exceptions including one for defense spending. Today, The Heritage Foundation releases a chart book examining the state of the U.S. military. Most Americans already know the U.S. military …
Today in Washington, the Bipartisan Policy Center (BPC) launched its new Debt Reduction Task Force, chaired by former Sen. Pete Domenici (R-NM) and former OMB director and CBO director Dr. Alice Rivlin. The task force will aggressively address the abysmal fiscal outlook of the United States economy due to government …
From the President who brought you unaccountable, constitutionally-questionable czars comes the latest innovation in pass-the-buck leadership: a White House executive commission designed to solve the behemoth of a spending problem plaguing the federal government. Members of Congress have described the commission as a “nothing burger,” a “fig leaf” and “something …
Last week President Barack Obama announced he wants to give every Social Security recipient a $250 payment to make up for the fact that they will not get a cost-of-living adjustment (COLA). The Washington Post describes this as a one-time payment. They are wrong. George Will explains: “This is the …
Sometime next month the Senate will be forced to raise the federal debt limit beyond a record $12.1 trillion. While the current recession has exacerbated the problem, our rising national deficits are actually a structural problem a long time in the making. In the coming decades, the cost of Social …
