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    Washington Hits the $16.7 Trillion Debt Ceiling with $300 Billion in New Debt

    On May 19, the United States hit its debt ceiling after adding $300 billion in more debt since lawmakers suspended the ceiling in February. But the cash won’t run dry until at least Labor Day, according to Treasury Secretary Jack Lew, whose department can employ a variety of cash management … More

    Too Eager for a Fiscal Cliff Deal: Republican Leadership's $1 Trillion Tax Hike

    The latest fiscal cliff proposal by Speaker of the House John Boehner (R–OH) is infuriatingly frustrating to conservatives, again. In exchange for $1 trillion in tax hikes—including the President’s immediate tax rate hike on the wealthy—Boehner asked for just $1 trillion in spending cuts. And, to sweeten the pot for … More

    Obama Already Banking on Sequestration?

    When the topic of sequestration arose during the final presidential debate Monday, President Obama declared, “It will not happen.” Considering that Obama has also previously declared that he would veto any bill attempting to get rid of the defense portion of the cuts unless it includes tax increases, many were … More

    After the Super Committee: 'Massive' Education Cuts? Think Again

    The “super committee’s” failure to reach an agreement to reduce federal spending is supposed to trigger automatic spending cuts—some of which could decrease funding for the Department of Education beginning in 2013. This has the education unions and Secretary Arne Duncan up in arms. Randi Weingarten, president of the American … More

    Exclusive Interview: Sen. Pat Toomey on the Super Commitee's Failure

    As one of the 12 members of Congress on the Super Committee, Sen. Pat Toomey (R-PA) had a front row seat for all the negotiations. Since the committee’s announcement late last month that they had failed to reach a deal on at least $1.5 trillion in savings, Toomey has been very vocal … More

    Heritage Libertad Radio: Presidential Debate, Spanish Elections, More

    Be sure to listen to this week’s Heritage Libertad Radio Show. Click here for the first 30 minutes in Spanish. Click here for the second 30 minutes in English. We kicked off the Spanish side with a look at the Super Committee, followed by an interview with Nobel Prize winner Mario Vargas … More

    Online Chat on the Super Committee

    The Super Committee failed to meet its Thanksgiving to cut $1.2 Trillion from the federal budget. Now what? Click here to join our live “Lunch with Heritage” online chat. We are joined by Heritage’s Director of Economic Policy Studies Alison Fraser. She is taking your questions about why the Super … More

    Chart of the Week: Defense Spending Dwindles Under Obama

    The Heritage Foundation and American Enterprise Institute host a Republican presidential debate on CNN this Tuesday at 8 p.m. on the subjects of foreign policy and national security. At a time when domestic issues dominate the headlines, Tuesday’s debate offers an opportunity to refocus our attention on matters of constitutional … More

    Morning Bell: America's $15 Trillion Nightmare

    This week, the U.S. national debt clock hit a nightmarish milestone: a record $15 trillion. Words can’t even begin to describe the scope of borrowed federal spending, but it is no doubt a staggering figure that has risen dramatically in the last decade and is more than $4 trillion higher … More

    Draconian Defense Cuts Will Reduce Safety

    There are many ways to balance a budget. Most of us, for example, spend 30 percent or more of our income on housing. Skipping mortgage payments is a sure-fire way to make ends meet – until they take your house away. Health insurance can be a real waste, too, if … More