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Tuesday, November 30, 2010
Americans Would Rather Cut Services Than Raise Taxes to Balance Budget, Poll Shows
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Wednesday, November 10, 2010
Right and Left Come Together to Eliminate Wasteful Spending
By Chris Johnson
With the federal deficit at $1.3 trillion and conservative members of Congress talking about ways to trim government spending, a newly released report by the National Taxpayer Union (NTU) and the U.S. Public Interest Research Group (PIRG) proposes $600 billion in federal budget cuts over the next 5 years.
In a "strange bedfellows" confab, the right-leaning NTU and left-leaning US PIRG have highlighted 31 specific examples of wasteful government spending that they say can be eliminated.
In the report, Toward Common Ground: Bridging the Political Divide to Reduce Spending, the 31 examples fall into the categories of ending wasteful subsidies, improving contract and asset acquisition, improving program execution and government operations, ending wasteful or outdated military programs and systems, and aligning military spending with current needs.
Read the rest of this entry >>Tuesday, September 28, 2010
U.S. Economy "Close to a Destructive Tipping Point," Glenn Hubbard Says
Hubbard, dean of Columbia Business School, joined Dan Gross and I to discuss the "major structural imbalances" facing America, chief among them being the government's profligate spending.
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Friday, June 18, 2010
Greenspan Says U.S. May Soon Reach Borrowing Limit
Former Federal Reserve Chairman Alan Greenspan said the U.S. may soon face higher borrowing costs on its swelling debt and called for a “tectonic shift” in fiscal policy to contain borrowing.
“Perceptions of a large U.S. borrowing capacity are misleading,” and current long-term bond yields are masking America’s debt challenge, Greenspan wrote in an opinion piece posted on the Wall Street Journal’s website. “Long-term rate increases can emerge with unexpected suddenness,” such as the 4 percentage point surge over four months in 1979-80, he said.
Greenspan rebutted “misplaced” concern that reducing the deficit would put the economic recovery in danger, entering a debate among global policy makers about how quickly to exit from stimulus measures adopted during the financial crisis. U.S. Treasury Secretary Timothy F. Geithner said this month that while fiscal tightening is needed over the “medium term,” governments must reinforce the recovery in private demand.
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Wednesday, May 12, 2010
All in a 24-Hour News Cycle: The Audacity of Barack Hussein Obama
The Treasury Department said Wednesday the April deficit soared to $82.7 billion, the largest imbalance for that month on record. That was significantly higher than last year's April deficit of $20 billion and above the $30 billion deficit private economists had anticipated.
Monday, July 28, 2008
The President Sets A Record
The White House presented its Mid-Session Review of the Fiscal Year 2009 budget today, and with it announced a new record -- a budget deficit of $490 billion. That is quite a record indeed, considering that during the President's first year in office the nation enjoyed a budget surplus of $236 billion.