It’s been a rocky year and a half for the American people, who have continued to suffer from high unemployment rates and a sagging economy. And rather than addressing these tough issues facing Americans, the 111th Congress has instead focused on controversial pieces of legislation, massive in size, dramatic in impact, and unfathomable in cost. With only a few full weeks of session scheduled before | Read More »
In 1974, Congress passed the Congressional Budget and Impoundment Control Act. This legislation established procedures for how Congress creates and adopts the annual budget for the federal government. This process allows the American people to see the spending priorities of Congress and also helps to hold Congress to a spending limit. For the first time since this bill was drafted, it appears as though we | Read More »
According to the non-partisan Congressional Budget Office, the President’s budget proposal for 2010 will produce a $9.3 trillion addition to our current deficit over the next ten years. As with a person or company that borrows money, the federal government must pay interest on all borrowed funds. To do this, the federal government sells U.S. Treasury bonds and bills to people, companies, even foreign countries. | Read More »
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