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    Senator DeMint on Debt Ceiling Negotiations, Tea Party, More

    On this week’s Hertage Libertad Radio program, on Virginia’s WBER, we were fortunate to have Senator Jim DeMint (R–SC) join us for a segment to discuss his new book, The Great American Awakening, the Tea Party, and the current fight over the debt ceiling. Senator DeMint gave us the latest … More

    America's Budget Mess May Be Worse Than We Realize

    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 … More

    PODCAST: Unemployment Report

    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 … More

    America Treading Down Road to Serfdom with Big Spending

    “The late great Austrian economist F.A. Hayek would have seen the Arab Spring for the economic revolt it was right from the start,” writes Hoover Institution scholar Fouad Ajami in The Wall Street Journal. In his iconic Road to Serfdom, Hayek laid out the stepping stones that lead societies to … More

    Senator Mitch McConnell's Insufficient Debt Ceiling Plan

    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 … More

    The U.S. Government Debt Default Bogie Man Scares No One

    Ever since the debate over the debt limit began in earnest at the start of the year, the Obama Administration, led by Treasury Secretary Tim Geithner, has implied that the U.S. might default on its publicly held debt. In his press conference today, the President said that “it is not … More

    Morning Bell: America, the Europe of the West?

    Last night, President Barack Obama and U.S. congressional leaders failed to reach agreement on a deal to raise the nation’s debt limit. Meanwhile, it has been more than 800 days since the U.S. Senate passed a budget, liberals in Washington are pushing for higher taxes, unemployment is soaring, the deficit … More

    Debt Ceiling Debate: Making Bad Health Policy Worse Doesn't Justify Budget Savings

    Red Alert! Conservatives in Congress and elsewhere should be warned: The Administration’s latest signal for “compromise” may end up as little more than an expansion of existing bad policy, rather than a serious effort to enact substantive reforms. And only substantive reforms can change the perverse incentives that plague giant … More

    Soaking the Rich to Raise the Debt Ceiling Won’t Solve Spending Problem

    In the debate about raising the debt ceiling, the reality is often lost that the top 10 percent of income earners—those making more than $113,799 in 2008 (the latest year available from the IRS)—already pay 69.9 percent of the income taxes. The same top 10 percent, however, earn only 45.8 … More

    What Obama Doesn't Know about Defense Spending

    In yesterday’s “Twitter Town Hall,” President Barack Obama demonstrated yet again his failure to understand the size of the defense budget—as well as his desire to slash it in order to fund domestic spending. Here’s how the President described it: [T]he nice thing about the defense budget is it’s so … More