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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Polling from Pew and Gallup reveals major public misconceptions about the defense budget. Fifty-eight percent of Americans know that Pentagon spending is larger than any other nation, but almost none know it is up to seven times that of China. Most had no idea the defense budget is larger than federal spending for education,…
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In an article in Politico, Brett Coughlin reports that the Government Accountability Office (GAO) estimates that at least 10% of all Medicare payments (a minimum of $48 billion) are fraudulent and that the federal Centers for Medicare and Medicaid Services (CMS) are unable even to identify an estimate of the degree of improper payments….
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Rasmussen Reports has released a new poll indicating that 58% of likely American voters prefer a partial shutdown of the U.S. government “until Democrats and Republicans can agree on what spending to cut” and 61% want less spending. As Republicans and Democrats in Congress haggle over the budget, most voters would rather have a…
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In an article at the American Spectator by Philip Klein, he reports on the new report from the Congressional Budget Office (CBO) that shows that repeal of Obamacare (“Patient Protection and Affordable Care Act”) would cut $1.4 trillion from projected federal spending over ten years. In addition, even greater cuts of $732 billion could…
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The latest economic forecasts are now projecting that the federal budget deficit will reach a record of nearly $1.5 trillion in 2011. As the Wall Street Journal reports, this �grim outlook landed a day after President Barack Obama outlined plans to push for new spending that he said would help keep the U.S. globally…
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In a January 19th article in the Wall Street Journal, “What Congress Should Cut,” former U.S. House Majority Leader Dick Armey and FreedomWorks President Matt Kibbe propose abolishing “the Departments of Commerce and Housing and Urban Development, end farm subsidies, and end urban mass transit grants, for starters.” The primary economic challenge today is…
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Just in time for the end of 2010, the Associated Press released a story suggesting that retired Medicare beneficiaries are being promised way more in medical care than what than they’ll have paid for during their working careers: What you paid in Medicare taxes shows up on your W-2 income tax form every year….
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According to CBS News, on the last day of 2010 the U.S. National Debt hit a record level of more than $14 trillion or $14,025,215,218,708.52, up from $9 trillion just over three years ago and a whopping 55% increase since just before 2008. As the report states: It took just 7 months for the…
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In an article from Reuters, David Lawder reports that a new U.S. Treasury report of cash holdings, “The Financial Report of the United States,” shows that the U.S. government went into greater debt in fiscal year 2010 to the tune of additional $2 trillion. Unfortunately, the report does not include the massive land, minerals,…
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