The Heritage Foundation offers a detailed plan to redesign entitlement programs, guarantee assistance to those who need it, and save the American dream for future generations. Read More.
Entitlements—Social Security, Medicare, and Medicaid—threaten to bankrupt the nation. The unsustainable tsunami of spending on these programs will accelerate as 77 million baby boomers flood into them. Read More.
In the few months since Washington’s dramatic debt ceiling confrontation, America’s fiscal situation has only worsened. Federal spending is set to soar past previous record-shattering levels, endangering the economic future of the nation. This is a moral issue because younger generations will be forced to bear either staggering levels of…
As the national debt races toward $17 trillion and nearly 13 million Americans search fruitlessly for work, America needs bold changes from its leaders. Congress must get federal spending and borrowing under control and get out of the way of job creation in the private sector. …
After a year of unproductive brinksmanship, Congress and the President enter 2012 facing the same intractable budget problems as before: a fourth consecutive deficit expected to be $1 trillion or higher, spending that consumes nearly one-fourth of the economy’s total output, and an entitlement-driven fiscal disaster that has drawn…
Runaway spending and deficits continue to grow unabated in part because any attempts to rein them in are relentlessly demagogued by defenders of big government. The latest example is the budget recently authored by House Budget Committee chairman Paul Ryan (R–WI) and passed by the House of Representatives. …
Whose job is it to help those in need? Some say it's the government's. That's certainly the view of Ebenezer Scrooge. When asked to contribute to the poor, he responds: "Are there no prisons? And the union workhouses? Are they still in operation?" Substitute "welfare checks" and "food stamps," and…
Erskine Bowles and Alan Simpson, co-chairs for the President’s bipartisan National Commission on Fiscal Responsibility and Reform, released a co-chairs’ report today. Since it is a preliminary report from the chairs, it should be viewed as a model for discussion and seeding ideas for the final commission report. As such,…
Abstract: The number of Americans who pay taxes continues to shrink—and the United States is close to the point at which half of the population will not pay taxes for government benefits…
This year, the U.S. public debt is projected to reach 62 percent of the economy—up from 40 percent in 2008 and nearly double the historical average, according to recent Congressional Budget Office (CBO) estimates. The financial crisis and recession drove much of this debt swing, yet larger problems loom in…
Abstract: Proponents of Obamacare claim that it will simultaneously provide millions of Americans with health insurance and reduce the budget deficit by hundreds of billions of dollars. Yet Obamacare’s proclaimed budgetary discipline rests on unlikely assumptions and budget gimmicks—none worse than the CLASS Act,…
President Obama’s Commission on Fiscal Responsibility and Reform (known popularly as the “deficit commission”) is set to begin assembling recommendations to reduce the budget deficit to 3 percent of the gross domestic product (GDP) by 2015 and to address long-term deficits. The commission faces an uphill battle, as no bipartisan…
Congress is about to set off a chain reaction that it has not planned for and will not be able to contain. The health care legislation currently in Congress not only imposes new costs on states…
The Treasury Department expects the U.S. government to bump up against the statutory limit on federal borrowing sometime near the end of this month.[1] Consequently, the Obama Administration is now urging Congress to quickly pass a debt limit increase of almost $2 trillion. But while…
The General Services Administration’s (GSA) scandalous spending at a 2010 conference has gotten plenty of attention....…
Earlier this week in New Hampshire, Republican presidential candidates touted the benefits of a Medicare premium...…
As one of the 12 members of Congress on the Super Committee, Sen. Pat Toomey (R-PA) had a front row seat for all the...…
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In its latest video railing against reform of Medicare and Social Security, AARP pushes for a pinch hitter to solve...…
Social Security took center stage at last night’s Republican presidential debate, emerging as a key issue among...…
As soon as the U.S. Treasury was cleared to start borrowing again, it quickly borrowed $238 billion more and reached a...…
The jobless rate in America hovers at 9.1 percent. The national debt ticks upwards of $14.3 trillion and small...…
Treadmills for shrimp and poetry in zoos. The AARP recently decried these examples of government spending as part of a...…
Sen. Orrin Hatch (R-UT), ranking member on the Senate Finance Committee, outlined a comprehensive plan for reforming...…