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    House Democrats' Budget: A Vision of Limitless Government

    House Democrats described the budget they released yesterday as a “clear contrast” to the one introduced by House Budget Committee chairman Paul Ryan (R–WI). It is a clear contrast—but that’s not a compliment. The proposal, offered by Representative Chris Van Hollen (D–MD), ranking member of the Budget Committee, merely calls … More

    Morning Bell: Another Vision to Solve the Budget Crisis

    While Washington’s eyes are focused on the historic Obamacare hearings at the Supreme Court, work continues across the street in the House of Representatives where some Members of Congress — though not all — are doing their best to clean up Washington’s budgetary mess. It has now been 1,064 days … More

    First Reactions to Ryan's Path to Prosperity Budget

    There are six key elements to a successful federal government budget, including the plan released today by House Budget Committee chairman Paul Ryan (R—WI): Does it cut spending sharply and quickly? Does it begin decisive entitlement reform? Does it avoid any tax hikes? Does it ensure a strong national defense? … More

    Morning Bell: Get on the Path to a Balanced Budget

    Paul Ryan (R-WI), Chairman of the House Budget Committee, will release his budget blueprint today in what will surely be one of the most important policy developments in Washington this year. If as expected Senate Democrats fail yet again to advance a budget for the government, then the Ryan Budget … More

    CBO Shows Obama's Budget Produces More Staggering Spending and Debt

    The Congressional Budget Office (CBO) estimate of the President’s budget reveals a reckless fiscal plan that shirks the spending cuts in the Budget Control Act and increases spending by more than $1 trillion over the next 10 years. It confirms that Obama is the first President to preside over four … More

    Morning Bell: A Budget to Save the American Dream

    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 … More

    CBO Report: Spending Is Driving Debt to "Unsupportable" Level

    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 … More

    New Poll: Most Voters Say America is Overtaxed

    More bad news for those who want to raise taxes in order to pay for another boatload of government spending: The vast majority of Americans say that the country is taxed enough already. According to a new Rasmussen poll, 56% of likely U.S. voters believe America is overtaxed. Those numbers follow … More

    Our Debt and China

    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 … More

    The Entitlement Crisis: At Least Congress Is Still Paying Attention

    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 … More