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    How President Obama Is Killing Jobs

    Five years on and President Obama still refuses to assume responsibility for his woeful economic record. The buck stops with Republicans, other countries, changes in the weather, etc.—anywhere but the Oval Office. Of course, it’s not new having a chief executive who refuses to admit failure. What is rare is … More

    Tax Revenue Rose Five Times Faster Than Spending Fell in 2013

    The monthly Treasury statement of the actual budget figures for 2013 this week shows tax revenue rising five times faster than spending fell in 2013. Taxes revenue climbed by 13.2 percent from $2.45 trillion in 2012 to $2.77 trillion in 2013. Spending, on the other hand, fell by only 2.4 … More

    3 Trillion Reasons Not to Raise Taxes Again

    Do you know how much President Obama has raised taxes? Oh, by about $3 trillion. In a new paper, Heritage expert Curtis Dubay reminds us: President Obama has already raised taxes substantially twice—first as part of Obamacare and then as part of the “fiscal cliff” deal earlier this year. Together, … More

    Look Closer: Tax Increases, Not Spending Cuts, Are the Harmful Austerity

    Proponents of government spending want to use the recent history of Europe as evidence that spending cuts are harmful, but their arguments lose traction when one looks closely at the data. One example comes from Paul Krugman, who used the International Monetary Fund’s Fiscal Monitor data to argue that “austerity … More

    Morning Bell: 6 Reasons Why the National Debt Keeps Rising

    Out-of-control spending by Congress and the Obama Administration has once again maxed out the latest debt limit—a nearly $17 trillion burden that harms job growth, gives special interests a pass, and lowers American families’ personal income. Inspired by Dave Ramsey’s recent post “6 Reasons People Stay in Debt,” we compiled … More

    While Debt Crisis Looms, Washington Still Focused on Undoing Sequestration

    Lawmakers are on track to bargain away the one spending cut they got. The Washington Post reports that President Obama and a group of Republican Senators stalled on a budget deal on Thursday that revolved in part around the question of how to best renege on sequestration. Republicans want to … More

    Greece: Austerity Doesn’t Involve Public-Sector Layoffs

    Slate’s Matthew Yglesias might be attacked as an “austerity denier” now that he has joined Heritage’s Salim Furth in pointing out that there is a lot of policy diversity under the broad label of “austerity.” Yglesias explained last week why a small but sudden layoff of government employees might bring … More

    For the Record: Tax Increases Are Harmful, but Europe Has Pursued Them Anyway

    Heritage economist Salim Furth gave testimony last week to the Senate Budget Committee, reminding the Senators that economic research shows that deficit reduction should be pursued through spending cuts, not tax increases. Now he has responded to written questions in detail and explored the exemplary 1990s budget cuts. There is … More

    Austerity and Stimulus: A Response to The Washington Post

    Journalists should check with both sides before committing pen to paper, especially those at respectable outlets like The Washington Post. It would have served Post reporter Dylan Matthews well if he had followed this dictum. In a blog post, Matthews attempted to refute testimony I gave before the Senate Budget … More

    The IRS, Obamacare, and You: The Spending

    Getting the Obamacare “train wreck” up and running will cost the Internal Revenue Service (IRS) an estimated $881 million between 2010 and 2013, according to the Government Accountability Office. As of last June, the IRS had already requested more than half a billion dollars from an implementation “slush fund” established … More