The Congressional Budget Office has issued its Budget and Economic Outlook for Fiscal Years 2011 through 2021.� Here’s the quick summary of what they anticipate in that short term: Under current law, CBO projects, budget deficits will drop markedly over the next few years�to $1.1 trillion in 2012, $704 billion in 2013, and $533…
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Terence Jeffrey reports at CNSNews.com that according to the U.S. Treasury Department, federal debt is rising at near record rates and if continued, Fiscal Year 2011 could produce a $1.708 trillion deficit, marking it second only to Fiscal Year 2009’s $1.89 trillion. The federal debt increased by $105.8 billion ($105,835,837,302.32) in January, according to…
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A wonderful graphic by Third Way is available here showing the path of Social Security towards insolvency. Jim Kessler and David Kendall advocate: “a ‘Savings-Led’ Social Security reform plan that actually increases the program�s progressivity. Our plan makes roughly two dollars in benefit reductions for every one dollar in revenue increases, and achieves solvency…
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In a new article in the Christian Science Monitor, “Pentagon cuts don’t cut it. Want to really save money? Get a new security strategy”, Independent Institute Senior Fellow Charles V. Pe�a shows that the proposal by Obama administration Defense Secretary Robert Gates of “cuts” in spending by the Department of Defense are not cuts…
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Ethanol consumption in the United States has been rising exponentially for more than a decade. As it happens, a great deal of the credit for that belongs to the extremely generous assistance that ethanol producers have received from the U.S. federal government over that time. That assistance has come in the following forms: The…
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