In this new video (just under 3 minutes in length) made by the Learn Liberty project of the Institute for Humane Studies, economist Antony Davies breaks down the national debt and makes the case that the debt is the result of a spending, not a revenue, problem. Davies clearly makes the case, presents the data, [...]
DC Addicts Get Another Fix
Like the addicts they are, the federal government didn’t waste any time getting another fix of deficit spending. U.S. debt shot up $239 billion on Tuesday — the largest one-day bump in history — as the government flexed the new borrowing room it earned in this week’s debt-limit increase deal. The debt subject to the [...]
CBO Report Reveals Voter Irrationality
The most recent CBO Report exposes the political irrationality of the American electorate. Their projections show federal debt as a share of GDP will hit 109% in 2021 and 190% in 2035. Considering the grim financial realities, public opinion becomes somewhat baffling. Consider this CBS poll where 53% of Americans generally view Medicare as requiring [...]
Senate Bill Takes Action to Reduce State Budget
The Balanced Budget Act of 2011 (S13), filed last night, would give the governor power to take “all action necessary to reduce General Fund expenditures for the remainder of fiscal year 2010-2011.” Under the bill, the governor’s goal will be to reduce the current year budget by $400 million. Sen. Phil Berger will likely discuss [...]
CBO Report Shows ObamaCare Will Cause Massive Future Budget Deficit
The Congressional Budget Office (CBO) released its new 10 year baseline, which shows “daunting economic and budgetary challenges” facing the United States. Without change, the nation could potentially face a Greece-like economic crisis according to Heritage budget expert Brian Riedl. One such policy driving the deficit is the “doc fix.” Ever year, doctors are scheduled [...]
