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  • WebMemo posted July 27, 2010 by Nicola Moore U.S. Long-Term Debt Situation Is One of the World’s Worst

    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 the future. By 2030, the CBO projects that debt will more than…

  • WebMemo posted November 30, 2009 by Nicola Moore To Control National Debt, Congress Needs to Tackle Entitlements

    For most individuals, maxing out one’s credit card is usually a sign of a spending problem—but not if you’re Congress. For the first time in history, the national debt has hit $12 trillion, and it will soon exceed the $12.1 trillion maximum amount of debt allowed by law. Yet Congress needs only to vote to give itself a higher credit limit to keep spending. An increase is…

  • WebMemo posted September 15, 2009 by Nicola Moore Retiring Baby Boomers Will Not Cause an Asset Bust

    Some have argued that baby boomers' retirement poses a threat to working Americans' savings. The value of workers' saved assets, they say, could drop once retiring boomers stop buying new assets or sell off current assets in order to have more cash on hand. Such swings in supply or demand would have to be substantial to have a real impact on asset values, and the…

  • WebMemo posted June 29, 2009 by Nicola Moore Entitlements Darken Long-Term Outlook for Federal Budget

    For years, the Congressional Budget Office (CBO), Government Accountability Office, Social Security and Medicare Trustees, and think tanks from across the political spectrum have been warning Congress that the budget is on an unsustainable course, and for years Congress has ignored them. CBO recently issued a new warning in their updated "Long-Term Budget Outlook" that…

  • WebMemo posted May 27, 2009 by Nicola Moore Trustees Reports Highlight Pressing Need to Reform Entitlement Programs

    The fact that Social Security, Medicare, and Medicaid are on an unsustainable course is one of Washington's best un-kept secrets, and it was reconfirmed by the latest annual reports from the Social Security and Medicare Trustees. Both programs have promised benefits to future retirees without the financial means to pay for them. The level of borrowing or taxing that…

  • WebMemo posted January 6, 2009 by Nicola Moore Economic Stimulus: Dos and Don'ts

    The first order of business for the President-elect and the new Congress is to get the American economy back on track. To that end, Democratic and Republican leaders are busily crafting an economic stimulus bill that will likely spend anywhere between $700 billion and $1 trillion. But this unprecedented action--which would be equivalent to one-fourth to one-third…

  • WebMemo posted September 4, 2008 by Nicola Moore CBO's Social Security Projections Differ from Trustees - but We're Still in Trouble

    Regardless of whose numbers you use, Social Security needs to be fixed. This makes Sen. John McCain's (R-AZ) promise to deal with the program's coming deficits early in his administration, as well as Sen. Barack Obama's (D-IL) understanding of the program's fiscal situation, welcome news. While updated Congressional Budget Office (CBO)[1] long-term projections for…

  • Play Movie Pork-Barrel Projects and Excess Federal Spending Video Recorded on February 25, 2008 Pork-Barrel Projects and Excess Federal Spending

    Nicola Moore, a Research Coordinator in the Roe Institute for Economic Policy Studies at The Heritage Foundation, explains how the pork-barrel laden Water Resource Development Act has become a bad law. She also reminds viewers of how entitlement pro…

  • WebMemo posted December 21, 2007 by Nicola Moore Omnibusted: The Top 10 Worst Problems with the Omnibus Spending Bill

    In the final hours of 2007, Congress rushed to pass a budget bill that has been pending for three months. It rolled 11 appropriations bills plus supplemental war funds into one bill, creating a massive vehicle loaded with pork, gimmicks, excessive spending, and bad policy. Congress barely took the time to contemplate the consequences of this bill before voting and…

  • WebMemo posted December 12, 2007 by Nicola Moore, Stephen Keen, Brian M. Riedl Five Benchmarks for the Omnibus Spending Bill

    Nearly three months into the new fiscal year, only one of the 12 appropriations bills for fiscal year 2008 has been signed into law. As the holidays approach, the Democratic Congress has given up on the responsible approach of passing each spending bill individually; instead, it will cluster the 11 remaining bills into a single omnibus appropriations bill that would…

  • Play Movie 2. HIF: Nicola Moore on Water Resources Development Act Video Recorded on November 5, 2007 2. HIF: Nicola Moore on Water Resources Development Act

    Nicola Moore comments on the irresponsible spending in the Water Resources Development Act…

  • WebMemo posted September 28, 2007 by Nicola Moore Increasing the National Debt Limit Should Spur Congress to Tackle Entitlements

    Chart: See what the national debt means to you In a flurry of business to close out the fiscal year, Congress raised the debt limit by $850 billion to $9.815 trillion. Without this move, the federal government's credit card would have maxed out on October 1 with an outstanding balance of $9 trillion. This staggering amount, also known as the national debt, is…

  • WebMemo posted September 26, 2007 by Nicola Moore, Alison Acosta Fraser Spending Run Amok: President Should Veto Water ResourcesDevelopment Act

    The Water Resources Development Act (WRDA), or H.R. 1495, offers more evidence that Members of Congress have abandoned their pledge to get spending under control. Due to egregious spending and a plethora of new earmarks, the conference report inflates the bill's price tag by 53 percent. Former Office of Management and Budget Director Rob Portman promised that a…

  • WebMemo posted July 9, 2007 by Nicola Moore, J.D. Foster, Ph.D. SCHIP Reauthorization: Congress Should Beware of Creating a New Entitlement

    This year's expected reauthorization of the State Children's Health Insurance Program (SCHIP) has sparked congressional interest in expanding the program. On this issue, Members of Congress should follow some simple advice: When in a hole, put down the shovel and stop digging. The federal government already spends one-fifth of all tax revenues on healthcare…

  • WebMemo posted May 2, 2007 by Ernest Istook, Nicola Moore, Baker Spring, Alison Acosta Fraser Post-Veto War Supplemental Must Eliminate Pork and Support Troops

    President George W. Bush was right to veto the war supplemental funding bill. In his second veto since taking office, the President rejected a bill that contained an unconstitutional usurpation of presidential authority as commander in chief[1] and, by adding billions of dollars in pork and pet programs, made a mockery of the new Congress's pledges to return to…