by Jane Richey | Jun 5, 2012 | Fiscal Responsibility, Free Markets
U.S. debt is on track to be nearly twice the size of the U.S. economy by 2037, the nonpartisan Congressional Budget Office (CBO) warned Tuesday. The new CBO report states that increased entitlement spending driven by the retirement of the baby boomers and insufficient...
by Jane Richey | May 23, 2012 | Constitutionally Limited Goverment, Fiscal Responsibility
What would happen if a deadlocked Congress did nothing? If the expiring Bush tax rates are allowed to lapse and the automatic spending cuts kick in next year, it could hurl the U.S. economy back into a recession, the Congressional Budget Office warned in a report...
by Jane Richey | May 22, 2012 | Constitutionally Limited Goverment, Fiscal Responsibility, Free Markets
Tax credits in President Obama’s healthcare law aren’t big enough to prompt small businesses to start offering healthcare benefits, the Government Accountability Office said Monday. Fewer businesses than expected have been taking the tax credit. The...
by Jane Richey | May 15, 2012 | Fiscal Responsibility, Politics
Sen. Ron Johnson (R-Wis.) accused President Obama of seriously misleading the American public on deficit reduction. Johnson said Obama has repeatedly made unrealistic promises on how much of the deficit he could reasonably cut. “In 2009, largely because of the...
by Jane Richey | Apr 24, 2012 | Constitutionally Limited Goverment, Fiscal Responsibility
From Walter Williams: According to the Congressional Budget Office, Congress will spend $3.8 trillion this year, about 24 percent of our $15 trillion gross domestic product. But federal tax revenue will be much less, only $2.5 trillion, or 16 percent of the GDP. That...
