FreedomWorks has produced a very timely new video, “We Won Wisconsin�But the Fight Goes On,” on the very serious, looming crises for state government across the U.S., as a result of the unsustainable entitlements, government employee union costs, and other spending and debt.
Jeffrey Anderson at The Weekly Standard reports that “Mandatory Spending to Exceed all Federal Revenues � 50 Years Ahead of Schedule”. We have now gotten to the point . . . where if national defense, interstate highways, national parks, homeland security, and all other discretionary programs somehow became absolutely free, we�d still have a…
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Independent Institute Senior Fellow Richard K. Vedder, a member of the Council of Economic Advisors for the Institute’s Government Cost Calculator, was interviewed by International PressTV on January 12th. In the interview, Dr. Vedder explains that President Obama has done nothing to rectify either the U.S. or international debt crisis. Indeed, under the Obama…
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Angela Greiling Keane reports in a recent article at Bloomberg Businessweek, “A Bailout for the U.S. Postal Service?”, that the U.S. Postal Service’s costs “will exceed revenue by $2.7 billion, even after borrowing $3 billion from the U.S. Treasury, the annual legal limit. Total debt, now $12 billion, by law can’t exceed $15 billion….
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In the Wall Street Journal, Jeff Bater reports in “U.S. Posts $150.4 Billion November Budget Deficit,” that federal red ink is reaching an all-time record: The U.S. government ran its 26th straight monthly budget deficit in November amid wrangling over a package that would extend big tax cuts to Americans trying to recover from…
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The Washington Post reports that the National Commission on Fiscal Responsibility and Reform has come up with a plan to address the nation’s fiscal house of cards. The major points of the plan include: Deficit reductions by nearly $4 trillion over the next decade Large reductions in discretionary spending Tax code reform He hits…
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