Posts Tagged ‘budget’
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…
Read MoreReport: Congress needs to close $10 billion gap in government spending
The government is spending so far past its budget limits that Congress is about to encounter a record gap. New projections show that the government is on track to spend $10 billion more next year to continue current government operations without changes, according to the Congressional Budget Office. The report means that Congress will have…
Read MoreEconomic-policy expert: Financial crisis inevitable the longer Congress waits to address entitlement spending
So-called “autopilot” congressional spending – e.g., spending that Congress isn’t allowed to take its red pen to and eliminate from the budget, like food stamps, Medicare, Medicaid, social security – will soon become the bulk of the federal budget, leaving little room for discretionary spending like national defense. The Daily Signal has the scoop: Autopilot…
Read MoreStudy: These social-security benefits are going to run dry in two decades
It’s no surprise social security is in trouble but the severity of the situation can’t be stressed enough: The well that is social security benefits – specifically, old-age, survivors’ and social-security disability insurance benefits – is going to run dry within two decades if Congress doesn’t step in and take action. The Daily Signal has…
Read MoreICYMI: Congress could learn a lesson in financial stewardship from this Tennessee teen with a heart of gold
Tennessee teen Kevuntez King from age twelve to age nineteen worked selling newspapers so he could go to college without borrowing a dime in student loans – and so his single mother wouldn’t have to dip into her own purse. Congressional officials would do well to take some cues from this young man. Fox-affiliate Q13…
Read MoreFormer Senate Budget Committee Chairman: ‘It is still possible to stabilize our debt … so long as we fix our fiscal policy’
Former New Hampshire Governor and former U.S. Senator Judd Gregg in a recent column notes our national debt keeps ticking up, more than doubling from $8 trillion 10 years ago to now more than $18 trillion, and the number will continue to climb with disastrous effect unless our political leaders take decisive action and start…
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