Several days before the August congressional recess, we noted that some conservatives were considering abjuring the House budget in favor of a 6-month CR to fund the beginning of FY 2013 in October. Their rationale was to defer the major spending fights until 2013, when presumably, we would have more control over the final outcome. Additionally, the original intent of this plan was to deny | Read More »
One thing I’ve learned over the years is that you don’t read Mark Steyn to feel good about the future. Indeed, there are few writers out there who are better at pouring a cold bucket of reality on our expectations for the future–with a nice bit of gallows humor to make it a little easier to stomach. So, it should go without saying that he’s | Read More »
Any day now we will breach the $16 trillion debt mark. Thank you Obama and the Democrats for mortgaging off the future of our children. You won’t be around in 50 years to bail them out like you did your crony money-bundlers at GM and the UAW. One of the important components of our federal debt in the share of debt owned by foreign countries. | Read More »
Yesterday, it was announced that John Boehner and Harry Reid had reached an early agreement on the FY 2013 budget in order to avoid a government shutdown on October 1. Pursuant to the agreement, both chambers will vote on a 6-month continuing resolution after returning from the August recess in September. The CR will provide spending for discretionary programs set at the $1.047 trillion level | Read More »
As we approach the 1-year anniversary of the disastrous debt ceiling deal hatched late last July, it is worthwhile to reflect on what we have gained from that legislation. On August 1, 2011, the House passed the Budget Control Act with support of 72% of the Republican conference. The Senate followed suit on August 2, with support of 60% of the Republican conference. Buoyed by | Read More »
Friday I spoke with WBYZ 94.5 Radio’s Wild Bill McKubby about my recent article, “Romney extends lead among Independents to 14 percent.” During the interview we blow up mainstream media’s meme that the presidential race tied. We also take Obama to task for his $trillion deficits, his 50% increase in the national debt and his incessant Pinocchio campaign falsehoods. You can listen to the interview | Read More »
We constantly hear about the age of austerity and painful spending cuts that are being enacted in Washington. The only problem is that they don’t exist. Earlier this week, the CBO published a report on the budget deficit for the first 9 months of Fiscal Year 2012 (October 2011-June 2012). The headline figure of the report shows that the 9-month deficit stands at $905 billion, | Read More »
It seems that Keynesian Economists are similar to Bill Murray’s failed character in the movie Groundhog Day. They simply relive their errors until they work off their bad karma and correct their errant assumptions. Yet Dr. Paul Krugman, dominus et deus of the American Neo-Keynesians, seems stuck in an infinite karmic loop. He’s waking up on Groundhog Day forever, and sees the shadow of smaller | Read More »
While everyone is focused on how to deal with the impending government takeover of healthcare, we must continue to battle the forces of big-government in Congress. Yesterday, in another display of venerable bipartisanship, leaders from both parties agreed to roll the $120 billion Democrat highway bill, subsidies to fuel the Big Education bubble, and a 5-year extension of government-run flood insurance into one omnibus bill, | Read More »
While everyone is waiting breathlessly to see whether the Supreme Court will strike down Obama’s egregious power grab in the healthcare sector, a bipartisan group of congressmen and senators are working to grow government in several other sectors of the economy. We must not be complacent. In our battle to shrink the size of the federal government, there have been a number of issues on | Read More »
Here’s a novel idea: let’s stop subsidizing Big Sugar. Maybe if the government wouldn’t intervene in the agriculture sector, inducing sharp increases in the price of commodities, many of the 46 million people on food stamps would be able to afford food. Then again, why would liberal politicians abrogate their source of political power? They stand to benefit from subsidizing rich sugar farmers and keeping | Read More »
Much ink has been poured over the past 24 hours regarding Jeb Bush’s controversial remarks about the state of the Republican Party. In a wide-ranging interview with Bloomberg News, Bush said the following: “Ronald Reagan would have, based on his record of finding accommodation, finding some degree of common ground, similar to my dad, they would have a hard time if you define the Republican | Read More »
Among the many Republican capitulations we have witnessed over the past year, one of the most egregious is their willingness to support the Senate highway bill. We’ve chronicled the problems with the highway bill extensively in these pages over the past few months. Aside for the policy issues, the cost of the bill is most problematic because it will engender future bailouts. The $109 billion | Read More »
It’s another week in Washington, and another story is out containing a plethora of quotes from Republicans who are willing to “put revenues on the table.” Here are some quotes from today’s article in Politico: “Nobody wants to raise taxes, but the question is can you lower tax rates, lower loopholes and deductions and apply that to debt reduction? I think the answer is yes,” | Read More »
Promoted from the diaries. The 2010 election spurred hundreds of Americans to call for a change in the direction our nation was taking. They were sick of the reckless spending of the Democrat-controlled Congress and they wanted their representative to be above the culture of corruption in Washington, D.C. As a result, November saw 87 new Republicans elected to the House of Representatives with a | Read More »
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