America’s fiscal condition is dauntingly dismal. The national debt is well on its way to $17 trillion, 13 million Americans are out of work, and the country is stuck in the slowest recovery in the post-war era. Despite Washington bleeding taxpayers dry with reckless overspending, the U.S. Senate has not …
The most significant numbers in today’s updated estimates from the Congressional Budget Office (CBO) are not the official “baseline” figures. More important are CBO’s “alternative” projections, which make clear once again that too much spending—not too little tax revenue—is the biggest threat to the country’s fiscal and economic health. Among …
Yesterday, the Department of the Treasury released an initial estimate of foreign holdings of U.S. securities, including Treasury bonds, as of June 30, 2011. This estimate serves as a correction of monthly figures Treasury publishes, known as the Major Foreign Holders series. There are three implications of the new data …
While the President’s FY2013 budget ignores the looming crisis of entitlement spending, the House and Senate Budget Committees, to their credit, are keeping their eyes on the ball this week with hearings on the three largest threats to the country’s economic health: Medicare, Medicaid, and Social Security. These hearings usefully …
Remember last year’s titanic struggle over increasing the debt ceiling? A mighty contest that threatened to leave the nation in default, lasted for much of the year, and resulted in a $2.1 trillion increase in the national debt—papered over in part by the cover of the not-so-super committee? Well, this …
Obamacare increases unaffordable government spending, which ultimately comes out of taxpayers’ pockets. Here, we summarize three of the most costly provisions of Obamacare: 1. Medicaid Expansion: Beginning in 2014, Obamacare expands Medicaid to include all non-elderly individuals with income below 133 percent of the federal poverty level. The expansion of …
