In an article in the Wall Street Journal, Sara Murray reports that “Nearly Half of U.S Lives in Household Receiving Government Benefits.” The pool of Americans relying on government benefits rose to record highs last year as an increasing share of families tapped aid in a weak economy. Some 48.6% of the population lived…
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The Wall Street Journal reports in “A New Spending Record: Washington had its best year ever in fiscal 2011″ that: Maybe it’s a sign of the tumultuous times, but the federal government recently wrapped up its biggest spending year, and its second biggest annual budget deficit, and almost nobody noticed. Is it rude to…
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What do you think is taller: the Empire State Building or cube of $114 trillion dollars??? Check it out here! The 114.5 Trillion dollar super-skyscraper is the amount of money the U.S. Government knows it does not have to fully fund the Medicare, Medicare Prescription Drug Program, social security, military and civil servant pensions….
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Independent Institute Research Fellow Emily Skarbek is interviewed here by Nick Gillespie of Reason TV regarding the Institute�s very timely and far-reaching Government Cost Calculator. The Calculator enables any American to clearly understand three aspects of federal government spending. First, the Calculator helps you determine how much a person will pay for various federal…
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In the following video, Independent Institute Research Fellow Jeffery Miron discusses why federal entitlement spending (Medicare, Medicaid, and Social Security) is growing to unprecedented levels and must be cut and cut and cut some more if the U.S.’s fiscal spending and debt crisis is to be resolved. HT: Mike Munger
Last Wednesday, months after rejecting his own presidential commission’s recommendations for reducing the U.S.’s record deficits produced by his administration, President Barack Obama finally offered a plan to deal with the nation’s excessive federal budget deficit. He didn’t do it because he wanted to do it or because he genuinely believes it’s in the…
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In “March Madness: U.S. Gov’t Spent More Than Eight Times Its Monthly Revenue,” Terence P. Jeffrey reports at CNSNews.com that the U.S. Department of Treasury has just announced that federal spending for the month of March was more than eight times revenues received. The U.S. Treasury has released a final statement for the month…
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No, I am not referring to the Allied Leaders in WWI, college basketball, or the top accounting firms in the U.S. The BIG FOUR of the Budget are Medicare, Medicaid, Social Security and Defense. Together they make up around 65% of non-discretionary spending. Today, the New York Times and Wall Street Journal are running…
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Seth McLaughlin at the Washington Times reports in “Fears rise that Japan could sell off U.S. debt” of the growing concerns that the earthquake, tsunami, and nuclear disasters and now economic crisis in Japan could trigger a major sell-off of there of its huge holdings of U.S. government debt. As of January, Japan is…
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In “Is the U.S. Becoming a Welfare State?”, Daniel Indiviglio reports in The Atlantic that U.S. government entitlement programs now account for a whopping 35% of wages, up from 26% in 2008. Uncle Sam has been aggressively increasing Americans’ allowance recently. Government entitlement programs have grown to account for 35% of wages, according to…
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