Treasury Secretary Lew Ignores Real Debt Problem, Looming Crisis
Win McNamee/Pool/Sipa USA/Newscom U.S. Treasury Secretary Jack Lew suggested yesterday on NBC that “we have already done a lot of deficit reduction.” In reality, government spending and debt are out of...
View ArticleTwo Years After Downgrade, U.S. Credit Rating Hasn’t Recovered—and Debt Is Worse
Two years ago today, Standard & Poor’s downgraded the U.S. credit rating—and it hasn’t recovered since. Then, the downgrade came because the President and Congress failed to resolve the long-term...
View ArticleWhile 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...
View ArticleMorning Bell: The Only Way to Reform the Farm Bill
Lawmakers return to Washington today with only nine legislative days in the House before some farm bill programs expire at the end of the month. With the debt ceiling looming and Congress considering...
View ArticleWhat You Need to Know About the Debt Limit
The Congressional Budget Office just dropped a budget update on Washington, and it’s not good. The U.S. government is spending recklessly—and Obamacare is adding fuel to the fire. The new report comes...
View ArticleDebt Limit: Brinksmanship or Fiscal Course Correction?
Washington is in the midst of another budget fight this fall over the nation’s debt limit. What some call political brinksmanship others recognize as an important forcing mechanism to rein in...
View ArticleMorning 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...
View ArticlePlan to Suspend Debt Limit Means Debt Would Rise to $17.8 Trillion
Win McNamee/Pool/Sipa USA/Newscom Treasury Secretary Jack Lew announced a new debt ceiling deadline today, urging congressional lawmakers and the President to come to an agreement concerning the...
View ArticleDebt Ceiling Raised Seven Times Under Obama, Costing $43,000 Per Household
Did you know that since President Obama came into office, the debt limit has been raised seven times? With those increases, Congress has added $43,000 in debt for every American household in just the...
View Article61% of Americans Want Spending Cuts Before Debt Limit Is Raised
A clear majority of Americans believes that imposing a firm limit on borrowing with spending cuts is the only chance for Congress to kick its gluttonous spending habit. A recent poll released by...
View ArticleObama Needlessly Scares Seniors: Social Security Checks and the Debt Limit
Newscom President Obama is needlessly scaring seniors by suggesting that their Social Security benefit checks may not arrive on time if the U.S. runs out of borrowing authority at the debt limit. The...
View ArticleWhy Is Obama Needlessly Scaring Seniors?
Apparently things aren’t ugly enough in Washington, so President Obama has started scaring senior citizens. “In a government shutdown, Social Security checks still go out on time,” he said last week....
View ArticleThree Magic Tricks Washington May Try to “Solve” the Debt Crisis
Newscom Yesterday in a press conference regarding the national debt, President Obama stated: “There is no magic wand that allows us to wish away the chaos.” This is true, especially when one considers...
View ArticleMoody’s on Debt Limit: Calling Obama’s Bluff on Default
A voice of reason emerged today among the doomsday predictions over a U.S. government default if the debt limit is not raised by mid-October. The Washington Post reports that Moody’s, a top credit...
View ArticleWhat the Founders Thought about Debt
“Neither a borrower nor a lender be,” wrote William Shakespeare in Hamlet. As the Founders were exceptionally well read men, they surely knew the reference. And it’s clear that, when it comes to...
View ArticleTwo Things Washington Cannot Ignore
Members of Congress are still at an impasse—they cannot agree on the debt limit, spending cuts, Obamacare, or funding the government. The House has passed a variety of bills that would have reopened...
View ArticleSenate Deal Fixes Nothing
Lauren Victoria Burke/WDCPIX.COM The Senate announced a deal today to protect the status quo in Washington. As pundits debate the political winners or losers of this deal, one thing is awfully clear:...
View ArticleSenate Debt Ceiling Bill Includes 10 Pages of Nonsense
Last night Congress passed a bill (the Default Prevention Act of 2013) to suspend the debt limit until February 7, 2014. The bill was then signed into law by the President. There are a variety of...
View Article$17,000,000,000,000
President Obama boasted last week that he had signed legislation to lift “the twin threats” to our economy of government shutdown and default. But what was done to fix the problem of growing debt that...
View ArticleChinese Call for “De-Americanization” Is an Empty Suggestion
Yao Dawei/ZUMA Press/Newscom A recent editorial in the Chinese newspaper Global Times called for “de-Americanization.” Concerned with the American government shutdown and the prospect of the debt...
View ArticleAmericans Want Solutions, Not Procrastination on Debt, Budget Crisis
Nearly two-thirds of Americans polled by Bloomberg answered that “it is right to require spending cuts when the debt ceiling is raised…because Congress lacks discipline on spending.” Their voices were...
View ArticleDebt: Seven out of 10 Voters Think the U.S. Is on the Wrong Track
A recent Peterson Foundation poll showed that 70 percent of registered voters believe that the country is on the wrong path when it comes to addressing the debt. This is just the latest indication...
View ArticleWhat Do Some Conservatives Think of the Ryan-Murray Budget? Top Tweets
Conservative Members of Congress gathered Wednesday to talk with national press and bloggers about the Ryan-Murray budget and Obamacare, amongst other issues. Missed out on the live event hosted by...
View ArticleBudgets, Abortion, and Obamacare: 9 Things House Conservatives Said Today
The Murray-Ryan budget surfaced Tuesday night, and led the conversation between House conservatives this morning at The Foundry’s Conversations With Conservatives. Missed the event? We’ve compiled an...
View ArticleBam! We’re Already Hitting the Debt Ceiling Again
It’s timely that the Congressional Budget Office (CBO) put out new numbers on America’s financial situation this week. By the end of the week, we’ll be hitting the debt ceiling again. The CBO’s report,...
View ArticleStuck in Congressional “Groundhog Day”
In the movie “Groundhog Day,” Bill Murray wakes up again and again to find that he is stuck in the same day. This happens multiple times a year now with Congress on the debt limit, which we just hit...
View ArticleCongress Is Giving Obama a Blank Check
Remember all those debt limit fights? Well, apparently Congress got tired of fighting. So now they’re working toward doing away with the debt limit altogether. In recent years, conservatives fought to...
View ArticleIf Only a Snow Shovel Could Dig Us Out of This
Thanks to Congress, the U.S. now doesn’t have a debt limit for the next year. Let two Heritage experts put this into perspective. “President Obama, after less than five years in office, has already...
View ArticleAmericans Can Unite Around ‘Core Ideas,’ DeMint Says on ‘Face the Nation’
Although Democrats in Congress willingly gave President Obama “a blank check” to borrow more money last week and most Republicans didn’t, Americans are tired of such partisan fights in Washington and...
View ArticleBy How Much Did Congress Increase the Debt Ceiling? Hint: It’s a Trick Question
Just a few weeks before President Obama releases his budget proposal to boost deficit spending for the remainder of his term, Congress voted to “raise the nation’s borrowing limit through March 2015.”...
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