Category Archives: Federal deficit

Why Debt Matters….

The Financial Services Committee in Congress is holding a series of hearings on the National Debt and the problems it is causing for the nation.  The first of those hearings will be today at 10am and titled ‘Why Debt Matters’. The speakers for today’s hearing will be: Mr. David M. Cote, Chairman and Chief ExecutiveContinue Reading

Congress begins deep dive into National Debt problem

Last Friday the Financial Services Committee in Congress sent out a press release stating they were going to begin a hearing series on the national debt.  Hopefully this series of hearings will focus on a solution to our debt problem instead of just data collection.  Here is some from the press release: WASHINGTON- Amid signsContinue Reading

Taxes and Debt: Two large pieces in Obama’s FY2015 Budget

The Heritage Foundation has done a lot of work looking into the recently published budget of President Obama for fiscal year 2015.  Here are some of their findings along with some charts to show the changes this budget would enact. Obama’s budget would have the following effects in numbers: Spending would go from $3.5 trillionContinue Reading

Barron’s editorial page editor probes problems tied to the ‘doc fix’

Thomas Donlan uses his latest Barron’s editorial commentary to recap the history of the Medicare “doc fix,” then explains how that measure fits into the larger scheme of government budget problems. At last the annual doc fix, as it came to be called on Capitol Hill, has grown too large to ignore. Senators and representativesContinue Reading

Another critic of the notion of federal government budget ‘austerity’

Add Richmond Times-Dispatch columnist A. Barton Hinkle to the list of political observers who are unimpressed by the president’s vow to end an “age of austerity” in preparing a federal budget. “With the 2015 budget request,” The Washington Post reported last week, “Obama will call for an end to the era of austerity that hasContinue Reading

Tanner searches in vain for the ‘age of austerity’ in government spending

Michael Tanner of the Cato Institute probes in a National Review Online column the Obama administration’s Orwellian use of language in describing the president’s latest budget proposals. The single most important thing that we could do to improve the American economy might be to give the president a dictionary. Over the past few weeks, theContinue Reading

Barron’s D.C. man argues that the federal budget process has outlived its usefulness

Forty years after Congress rewrote the process used to put together the federal budget, Jim McTague of Barron’s argues in his latest “D.C. Current” column that it’s time to consider another rewrite. Those Tea Party nut cases might not be completely crazy, after all. No matter how much it upsets us, their spirited dust-ups withContinue Reading

Cato documents trends in federal government spending

The libertarian Cato Institute’s Chris Edwards promotes a new Cato bulletin (PDF) with the following blurb: The federal budget is vast. But when boiled down, it consists of just five basic spending activities: compensating federal workers, purchasing goods and services, giving aid to state governments, transferring wealth through subsidy and benefit programs, and paying interestContinue Reading