184 results for search: Gross


Inspector general accuses Denver-based VA of ‘gross mismanagement’

Federal investigators Wednesday accused those at a Denver, Colo.-based Veterans Affairs office of improperly overseeing construction of a VA hospital that ran over budget by millions of dollars. The St. Louis Post-Dispatch has the details: The inspector general accused the VA of “gross mismanagement” for assigning far too few engineers and project managers. [Sloan Gibson, deputy secretary of Veterans Affairs] said the department has taken responsibility for the problems and has made changes. Two weeks ago, [Fla. Republican Jeff] Miller’s committee subpoenaed documents on a separate internal VA investigation into the cost overruns. The ...

National debt to soar to 77 percent of U.S. gross domestic product by end of fiscal year

Spendthrifts in Washington, D.C. by the end of September will have sent our national debt soaring by three percentage points to 77 percent of gross domestic product, the greatest ratio of debt-to-GDP we’ve seen since 1950 when we were still paying down debt from World War II. The Washington Examiner has the scoop: The agency projected that the debt held by the public will rise 3 percentage points to 77 percent of U.S. gross domestic product by the end of fiscal year 2016 in September. Debt has not hit that ratio since 1950, when the government was still in the middle of paying down the debt it incurred paying for World War II. Over the ...

Policy expert: National debt ‘highly problematic’

Romina Boccia, economic-policy-studies research fellow for the Heritage Foundation, in a recent commentary piece warns that our $20 trillion national debt puts our nation in a volatile position. LifeZette has the commentary: Soon the national debt will top $20 trillion. Three-fourths of that has been borrowed from domestic and foreign investors. The rest is money the government has “borrowed” from government trust funds, like Social Security. In total, the gross national debt already exceeds 100 percent of what the economy produces in a given year (GDP) — and taxpayers are on the hook for all of it. This excessive debt is highly problem...

Average family income to drop $12,000 by 2046

The effects of overextending ourselves as a country are real and, in three decades, will emaciate Americans’ already tight family budgets. The Daily Signal has the story: But deficit spending and unsustainable debt pose a significant threat to our economy. The House Budget Committee recognizes this threat, recently releasing a working paper highlighting the damaging economic effects of the national debt. The results are scary… Academic research shows that high national debt is associated with less economic output and less prosperity for individuals and families. The Congressional Budget Office’s projections reflect this. Compared to a ...

Federal deficit up 25 percent over last year

Our federal deficit is growing, this year spiking to nearly $590 billion – up 25 percent over last year – according to the latest Congressional Budget Office estimate. The Washington Examiner has the details: The federal deficit for fiscal 2016 jumped to $588 billion, $149 billion bigger than last year's, the Congressional Budget Office estimated Friday. As a share of economic output, the deficit rose to 3.2 percent, up from 2.5 percent in fiscal 2015. That would be the first such increase in the deficit as a share of the economy since 2009, when the U.S. was still reeling from the financial crisis. Part of the jump in the deficit was ...

Sen. Mike Lee: Spending bill Senate just passed ‘keeps the government headed in the same direction’

Sen. Mike Lee (R-Utah) in a 12-minute Facebook Live video Wednesday explains why he voted against the continuing resolution, a stopgap spending bill that keeps the government operating through Dec. 9. “It just keeps the government headed in the same direction – doesn’t really change much. It can contain a few revisions so it’s not really a budget, but it is a spending bill – a spending bill that simply says ‘Keep things more or less as they are subject to few minor changes,” says Sen. Lee. Members of Congress year after year face pressure from government employees and other groups to pass such resolutions, even if it means subver...

IRS corrects earlier estimate, says taxpayers shelled out $1.7 billion in Obamacare penalties in 2014

Internal Revenue Service data show 8 million American taxpayers coughed up nearly $1.7 billion in penalties for not purchasing Obamacare in 2014, a $200 million increase from earlier penalty estimates from 2014. The Washington Free Beacon has the scoop: “Beginning in 2014, the Affordable Care Act required that individuals must have had health care coverage, qualified for a health coverage exemption, or made a shared responsibility payment with a tax return,” the IRS said. “A health care individual responsibility payment was made on 8.1 million returns for $1.7 billion, an average of $210 per tax return paying this penalty.” IRS Commis...

Tea Party Patriots Weekly Report from Washington for 9/18/16

CALENDAR: The House will return on Tuesday, with first votes scheduled for 6:30 PM. They are scheduled to stay in town through Friday, with no votes after 3 PM. The Senate will return on Monday, with the first vote scheduled for 5:30 PM on a motion to invoke cloture on a motion to proceed to H.R. 5325, the House-passed Legislative Branch appropriations bill that will serve as the vehicle for the FY17 Continuing Resolution. And they’ll stick around just long enough to get that bill passed. LAST WEEK ON THE HOUSE FLOOR: On Tuesday, the House took up and passed H.R. 3590, the Halt Tax Increases on the Middle Class and Seniors Act, ...

House panel subpoenas VA over pricey hospital, art


Arkansas VA spent $408 million on solar-panel project as veterans faced brutal wait-times

Officials at an Arkansas Veterans Affairs hospital over a five-year period spent $408 million a so-called “green management” solar-panel project that went over schedule and over budget as former servicemen and women awaited care long overdue, according to a VA inspector-general report spurred by members of Congress. The Daily Caller has the details: The move to solar is part of the VA’s Green Management Program, which is tasked with installing renewable energy sources at various medical facilities. The probe included 11 out of 15 solar panel projects awarded from 2010 through 2013, which were still incomplete in 2015. Each of the 11 solar ...