Everyone’s heard that Moody’s has threatened to downgrade our bond rating unless the debt ceiling is raised. We get that—crisis pending, yada, yada, yada. But if you read the announcement closely, there are important new points they added to the mix. First, Moody’s really doesn’t believe–that the President really will …
Washington remains embroiled in debt limit negotiations as Republicans and Democrats stand apart on how to best go about increasing the amount of money the government can borrow and spend. But on the sidelines, another debate simmers over one amendment to the U.S. Constitution that could have averted today’s spending …
Want an interesting thought experiment? Take a trip in a liberal dream world of total wealth confiscation, where for one year, politicians confiscate profits from major corporations, professional athletes, Hollywood, and the like—all in the name of paying for their big spending ways. Would it be enough? Watch the above …
An article in the The Wall Street Journal recently revealed that our budget situation is likely worse than what the Congressional Budget Office (CBO) projects, meaning we could be in much more debt than we realize. In 2010, the federal government collected about $2.16 trillion in total tax revenue yet …
In this week’s Heritage in Focus, labor economist Rea Hederman discusses last month’s job report. Listen to the full interview, here. Unfortunately, last month’s jobs report was the worst one in some time. We created a mere 18,000 jobs and the unemployment rate increased to 9.2 percent. Normally in a …
Earlier today, Senate Minority Leader Mitch McConnell floated a proposal that, essentially, cedes the authority for raising the debt limit from the Congress to the president. Under McConnell’s plan, President Obama would propose three incremental debt limit increases between now and the end of 2012. Congress could only vote to …
