Let's get real on the "sequester." One month in, not much has changed. Nor is it likely to. Rather than devastating the federal government, the sequester is necessary to rein in the unbridled growth of federal spending. The sequester is certainly flawed. It's a blunt instrument leaving the biggest spending drivers, entitlements, virtually untouched. It means that over…

In case you haven’t heard, we’re in the midst of a massive spending crisis. Yup. It’s a real bummer. Unless we have some real action out of Washington — and quick — the tsunami of red ink coming our way will mean massive debt or crippling levels of taxes. So what is Washington doing about it? First up, the president. He had a statutory responsibility to present a budget…

Besides revelry, this New Year will ring in $500 billion in tax hikes and $110 billion in spending cuts unless Congress and the president can come together to steer clear of the "fiscal cliff" beforehand. All the Washington handwringing is ironic, considering that Congress itself created this mess. How? By creating the sequester's ill-conceived spending cuts in the…

Daunting issues await lawmakers returning to Washington: the fiscal cliff; unprecedented spending; soaring debt. And there’s no easy fix in sight. Before tackling these issues, lawmakers should take a deep breath and assess the nation’s economic health. The economy is growing, but nowhere near as fast as it needs to be. Just ask the 23 million Americans who have no…

With a high-stakes election just around the corner, the high-stakes rhetoric is flying. But with Taxmageddon looming, America needs less political rhetoric and some serious legislative action. Taxmageddon, of course, is the package of tax hikes costing $500 billion in 2013 alone. It will strike the economy on New Year’s Day if Congress continues to twiddle its…

Congressional and executive oversight of the federal budget is in turmoil. The political aversion to tackling federal overspending is enhanced and enabled by the inadequate processes that govern the budget. Two things are needed to prevent a European-style fiscal and debt crisis: (1) process changes that require - some would say force - solutions and ensure that…