Speaking in Des Moines, Iowa this afternoon, Romney took President Obama to task for his incessant spending and borrowing: “Today America faces a financial crisis of debt and spending that threatens what it means to be an American. Here in the heartland you know in your hearts that it’s wrong. We can’t spend another four years talking about solving a problem that we only make | Read More »
SoakTheRich.us started as a series of pie charts and turned into something much bigger. Here’s why! Promising the moon and hoping no one will ask, “hey, what’s a moon cost these days, anyway?” turns out to be the one business model Progressives endorse. If you’re an Obama bundler, a union boss, or Ezra Klein, it’s great news — you can get rich selling snake oil, riding | Read More »
There’s got to be some way to create a legislative scorecard on committee votes. Last month, House Republicans almost unanimously passed the “Ryan” budget resolution for FY 2013. It established the topline discretionary spending level at $1.028 trillion, just $15 billion below last year’s levels and $19 billion below the cap set in the Budget [Out of] Control Act. To put that in perspective, the | Read More »
As we’ve noted throughout the past year’s imbroglio over transportation spending, it is clear that complete federal control over transportation spending in a post-interstate highway era (post 1992) is inefficient, costly, anti-federalist, and precludes state and private innovations. Yet, Congress continues to buckle down on a policy that has failed in recent years, exposing taxpayers to future bailouts and tax increases. Worst of all, it | Read More »
Over the past few weeks, Obama has exhibited the intensity of a Navy SEAL in his execution of class warfare. He is trying to convince everyone that those who earn 17% of Adjusted Gross Income, yet pay 36.7% of federal income taxes don’t pay anything, while those who pay little or no taxes shoulder the entire tax burden. Obama will continue to toss out misinformation | Read More »
Here is a debt milestone that we surpassed this week, yet you won’t read about it anywhere in the media. The gross federal debt has increased more under Obama in just 3.2 years than it did during Bush’s entire 8-year tenure. And Bush was no limited government conservative either. When President Bush was sworn in on January 20, 2001, the total federal debt stood at | Read More »
Here’s a headline you won’t see in the media this week: we incurred the largest monthly deficit on record in February. Seven months into a government “reined in” by the Budget Control Act, we are supposed to be reaping the benefits of budget reduction. Yet, according to CBO, we incurred a gargantuan $229 billion $232 billion deficit in the month of February. The conservative Washington | Read More »
Well, it appears that our efforts are paying off. Responding to our charge that the GOP was violating the pledge against bundled megabills, Boehner announced that he will split the proposal into three separate bills; the highway bill (HR 7), pension reform (HR 3813), and expanded oil and gas drilling (HR 3408). This from Roll Call: In a joint statement with Rules Chairman David Dreier | Read More »
On Monday, Obama is slated to release his annual budget proposal for FY 2013, along with a 10-year budget (2012-2021) outlook. One would think that after talking incessantly about cutting spending, Obama would spend less money next year than this year. Yet, in Obama’s world, a spending cut means spending less than you were slated to spend, even though it is still higher in nominal | Read More »
So this is what the “age of budget austerity” looks like? Yesterday, the Senate voted against a measure to disapprove of Obama’s request for an additional $1.2 trillion of debt. Every Democrat (except for Ben Nelson and Joe Manchin) voted against the resolution. Consequently, pursuant to the Budget Control Act (the “debt ceiling deal”), Obama will automatically get his new credit card. Our debt will | Read More »
In years past, I’ve chosen to forego attending President Obama’s annual State of the Union speech, and instead focused on interacting with my constituents through live, virtual town halls while I watched the speech in my office. This wasn’t out of disrespect, but because I wanted to see real-time responses from Georgians and to get their ideas for what might jumpstart our economy. This year, | Read More »
It’s that time of year again – time to formulate the FY 2013 federal budget. Like every family, business, and organization, the federal government must draft an annual budget. Unfortunately, Obama and the Democrats treat this fundamental necessity with callous disregard. Pursuant to the 1974 Budget Act, the president must submit a budget to Congress on the first Monday in February, roughly seven months prior | Read More »
The good folks at the RNC took a look at what Obama promised in Iowa four years ago …. and the record of failure that followed. The result is the following video, “Failed Promises: Iowa Edition” along with a little research to demonstrate Obama’s failure: In Des Moines, Iowa, four years ago Obama promised that when “We’ve made the changes we believe in,” we’d be | Read More »
2011 was a disastrous year for our debt. Yes, the Republican Congress prevented Obama from passing his budget, which would have added $1.6 trillion in new deficit spending. Instead, they passed a budget that added an additional $1.3 trillion to the national debt. Overall, federal outlays in FY 2011 (which ended September 30) were $141 billion more than the previous year. For FY 2012, thanks | Read More »
In case you were wondering why we are doing nothing to slow our inexorable march towards Greek-style insolvency, look no further than those who are vested with the power of the purse string. Yesterday, Congressman Rush Holt (D-NJ) suggested that we are not spending enough “to invest in research and development, education and infrastructure that would allow America to compete in this increasingly global economy.” | Read More »
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