149 results for tag: National Debt


Obama’s non-existent economic recovery

This week, the Congressional Budget Office released its updated long-term budget and economic projections[1]. There were a few new data points regarding slower economic growth and the deficit, but what really stood out was CBO’s analysis of the labor force. The non-partisan CBO does not expect the labor force to return to pre-2007 levels anytime within the next ten years. Put another way: The economy lost a lot of jobs in the recession, and no one expects to get those jobs back anytime soon. One could argue, as the CBO points even points out, that pre-2007 levels are historical outliers. That is correct. But a further reading of the CBO’s ...

Wasteful Government Spending, Post Office Edition

Just when you thought stories about wasteful and egregious government spending couldn’t get any worse, the U.S. Postal Service decided to give its employees government credit cards. According to a series of reports prepared by the Postal Service’s Inspector General and obtained by the Washington Examiner, postal workers have used taxpayer money to gamble and pay personal bills and other expenses. [1] Among the atrocities: One manager withdrew $32,000 to gamble, used a government card to rent cars and pay for gas and parking. All told this one manager spent $45,000 of taxpayer dollars on personal uses. Another employee also took out $2,400 ...

All the revenue in the world won’t fix Washington’s spending problems

Since Tea Party Patriots’ inception, there’s been a nationwide debate over how to fix how Washington spends (and wastes) your money.   We believe that in order to “right the ship,” so to speak, our elected officials need to make tough choices and cut spending.  Others, however, like to argue it’s a revenue problem that will be solved by raising taxes on the rich and corporations.   But new numbers from the Treasury Department show that simply sending more of your money to Washington doesn’t do a whole lot of anything. [1] Each month, Treasury publishes “total receipts” for the federal government, which includes revenue ...

H.R. 2642 Agricultural Act of 2014 (Farm Bill) (Lucas -OK)

Description: This bill includes the most significant reduction to farm policy spending in history by improving agricultural programs. Makes the first reforms to SNAP (food stamps program) since the welfare reforms of 1996 while maintaining critical food assistance to families in need. Repeals or consolidates nearly 100 programs administered by USDA, including Direct Payments to farmers.   Read the Full Bill:   H.R. 2642 Agricultural Act of 2014  (Farm Bill) (Lucas -OK)      

H.R. 1202 One Percent Spending Reduction Act of 2013 (Scott, GA) and S. 1436 One Percent Spending Reduction Act of 2013 (Enzi, WY)

Description: This bill seeks to prevent a fiscal crisis by balancing the federal budget by cutting one penny out of every dollar the federal government spends. The bill balances the Federal budget by reducing federal spending by one percent per year for six years. Further, in the seventh year, federal spending would then be capped at 18 percent of Gross Domestic Product (GDP), to bring future spending in line with future revenues.   Next Congressional Actions: In the House, it was referred to the Committee on the Budget and the Committee on Rules. No roll call vote scheduled at this time. Read twice in the Senate and referred to ...

Budget

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Congress Ignoring the Real Budget Crises

As the budget deal in Washington raises spending yet again, there is another budget crises happening in America which Congress is completely ignoring. Struggling families are doing without to satisfy Obamacare. Christina from California represents one of those families who admits they just can’t afford it. "Our family of 5 is currently uninsured, and have been for over 3 years now. My husband's job doesn't provide medical benefits. We've been living just fine, and God has blessed us with good health. We aren't able to provide ourselves with medical coverage because of the cost. And now the government wants to fine us because we don't have ...

A Promise to Compromise

The “Bipartisan Budget” compromise that emerged leaves Americans with little hope that Washington will ever make good on past promises. The two-year, $2 trillion deal waives the once-permanent sequester cuts enacted by 2011 Budget Control Act cuts, allowing spending to exceed the $967 billion limit. The Heritage Foundation breaks down the $63 billion sequester reprieve, which is equally split between defense and non-defense programs. “The deal announced yesterday raises discretionary spending above the bipartisan spending agreement forged in 2011 as part of the Budget Control Act. Spending for defense and non-defense domestic programs would be ...

Tea Party Blasts Ludicrous Budget Deal for Lacking Credibility to Reduce Future Spending

GOP Establishment Wavers in their Support of Conservative Principles   Tea Party Patriots announced their opposition to the proposed bipartisan budget deal for failing to adhere to true cost-saving measures. “Americans cannot trust Congress to keep their promises to reduce the deficit. Time and again, Congress has claimed that cost-saving measures were permanent, only to later renege on these promises,” said Jenny Beth Martin, National Coordinator of the Tea Party Patriots. “The American people cannot count on savings ten years down the road because Congress has repeatedly proven not to stick to self-imposed spending levels.  Congress ...

Fact-check: Think Progress Shilling for Democrats and Debt

Over the last few years, one of the left’s most effective voices has been Think Progress. An influential blog under the Center for American Progress’ umbrella, it has over 500,000 Facebook followers, and is regularly cited by the Left in online media. Unfortunately for truth and accuracy, Think Progress often manipulates facts. An October 30 post by Josh Israel entitled “Senate Republicans vote unanimously for debt default” is a prime example. The basic facts are straightforward enough: Senate Republicans opposed the President’s decision to suspend the debt ceiling until February 7, 2014 under authority granted in the deal that ended ...