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  • trillion dollar deficits

    Why Obamanomics Has Failed - Annotated

    Carnegie Mellon University economics professor and American Enterprise Institute visiting scholar Allan Meltzer has a must read op-ed in today’s Wall Street Journal titled: Why Obamanomics Has Failed: Uncertainty about future taxes and regulations is enemy No. 1 of economic growth. It is re-posted in its entirety below but as … More

    G-20: Obama Keeps Talking, But The World Has Stopped Listening

    Although Canada’s taxpayers were forced to spend one billion dollars for security at the G-20 Summit in Toronto last weekend, more than 600 people were arrested after a roving bands of protesters shattered shop windows for blocks.  At that point, as Mark Steyn points out, the “insecure dweebs of the … More

    Still Not Greece, But Getting Closer Every Day

    The Washington Post reported today that the International Monetary Fund and various world governments warned U.S. officials years ago that “escalating financial problems” in the United States “had to be addressed quickly to forestall a larger threat to the world economy, but those urgings were discounted.” The Post went on … More

    Angry Voters Are Right: Growing Debt Can Slow the Economy

    Political candidates apparently can choose no better campaign issue this year than excessive government spending and the exploding debt it’s producing.  In one campaign after another, voters high and low on the economic ladder respond in the same way when challengers berate incumbents for reckless debt accumulation: raucous, fist-pumping applause … More

    Morning Bell: The Obama Spending Nightmare Continues

    This morning White House Chief of Staff Rahm Emanuel and budget director Peter Orszag will release a memo directing all federal agency heads “to develop plans” to cut at least 5 percent from their budgets by “identifying programs that do little to advance their missions or President Obama’s agenda.” This … More

    Duty, Honor ... Country Optional

    Thomas Jefferson established an academy at West Point because he wanted an institution to train Army officers which would be beholden to no political party. Cadets learn their responsibility is to live the academy motto—“duty, honor, country.” That said, it is unfortunate that President Barack Obama chose to make the … More

    "I'm Afraid To Tell You There's No Money Left"

    When Britain’s new Chief Secretary to the Treasury, David Laws, walked into his office last week, he found a letter from his predecessor, Liam Byrne. Laws assumed it contained useful advice. But when he opened the envelope, he found that the letter – which he characterized as “honest but slightly … More

    The America Competes Act: Business-As-Usual in Washington

    This week, the House of Representatives will vote on the $86 billion “America Competes Act.” Just a few years ago, an $86 billion authorization would have been considered real money, even by Washington standards. But in this new era of trillion-dollar spending bills (and, not coincidentally, trillion-dollar budget deficits), an … More

    Presidential Rhetoric vs. Reality of Spending Cuts

    The United States must reverse its spending habits, and most Americans know it.  A recent poll by Resurgent Republic shows that 62 percent of likely voters are very concerned about the level of deficit spending of which Congress is guilty.  When those that were somewhat concerned are included, the percentage … More

    Much Ado About Little: Congress Touts Phony Foreign Affairs "Savings"

    There is much hand-wringing in the mainstream media about the Senate Budget Committee’s 6.8% cut of $4 billion last week to the Obama Administration’s massive $58.5 billion Fiscal Year 2011 request to fund the foreign affairs “150 Account” budgets that include the State Department and the U.S. Agency for International … More