157 results for tag: National Debt


The Blaze: National debt just rounded $19 trillion

The U.S. national debt Friday rounded the corner on $19 trillion for the first time in our nation’s history. The Blaze has the scoop: After $18 trillion on Dec. 15, 2014, it took a 13 months for the debt to reach the new threshold, which is a slightly quicker climb in debt from years past. It took about 14 months for the debt to reach $16, $17 and $18 trillion. Though the national debt has been a hot-button issue for Republicans, and reduction in spending has been a cornerstone of many GOP presidential candidates’ campaigns, spending does not seem to be on the decline. In fact, over the last few years, the federal government has been free ...

Iowa-based CEOs: It’s time for Washington to tackle our national debt

Chief executive officers from three Des Moines, Iowa-based businesses – Fred Buie of Keystone Electrical Manufacturing; Dan Houston of Principal Financial Group; and Robert Ritz of Mercy Medical Center – sounded off this week about the national debt during a pre-caucus roundtable, saying our debt curbs innovation and growth. The Des Moines Register has the details: “I expect to see the next administration … control costs, but we’ve got to figure out a way to grow the economy. It’s been about 2 percent per year for the last three or four years and that’s just not enough,” said Fred Buie, president of Keystone Electrical Manufactur...

National Review: Plans to tackle our national debt need to be front and center

The national debt isn’t a scintillating topic; we get it. But ignoring it won’t make our debt and all the troubles associated with it go away. It’s time for the issue to get more airtime from politicians this year. National Review has the scoop: Judging from the presidential campaign so far, perhaps we should put the debt’s image on a milk carton somewhere. In the last Republican debate, there was precisely one question on the debt — and the candidates answered it by talking about their tax plans. That was far too typical. According to the FiveThirtyEight website, “the deficit” was mentioned an average of two times in the first five ...

President Obama’s brand of ‘Hope and Change’ comes with a hefty price tag

President Obama talked a big game during his pre-presidency stump speeches but proved he is full of hot air when it comes to rolling back red tape and revitalizing our economy. The Daily Signal lays it out for us: That mountain of debt he promised to rein in is now larger than it has ever been. The national debt was $10.6 trillion when Obama came into office in 2009. It now stands at $18.9 trillion—an astounding 80-percent increase in just seven years, the largest increase in history. Our government debt now eclipses the size of our economy. Despite initially signaling that he was open to slowing discretionary spending—the portion of the ...

Economist: Entitlement reform needed to shrink the national debt

Diana Furchtgott-Roth, economist and senior fellow at free-market think tank the Manhattan Institute, says entitlement spending ought to be a priority in 2016 if Republican lawmakers are sincere in their calls to rein in our national debt. Ms. Furchtgott-Roth outlines her ideas in a recent column for MarketWatch: The December budget agreement completely neglected entitlement reform, particularly changes to Social Security and Medicare. In 2015, the national debt surpassed $18 trillion for the first time, driven by record federal spending. Over 60 percent of federal spending is entitlement programs. Every passing day in which entitlement reform ...

U.S. budget deficit up 14 percent from this time last year, driven by increases in entitlement spending

The U.S. budget deficit increased by a whopping 14 percent over this time last year because of increases in entitlement spending. The Salt Lake City Tribune has the scoop: The November deficit climbed to $64.6 billion, up 13.6 percent from a year ago, the Treasury Department reported Thursday. For the first two months of the budget year that began on Oct. 1, the deficit totaled $201.1 billion, a 12.6 percent jump from a year ago ... The latest numbers underscore the deepening impact of paying benefits to a growing number of retiring baby boomers. The report said Social Security spending expanded 4 percent, while Medicare spending increased 9 ...

Tea Party Patriots Opposes Omnibus Spending Bill

Atlanta, GA – Tea Party Patriots President and co-founder Jenny Beth Martin released the following statement today in opposition to the latest spending bill that was released last night: “Tea Party Patriots opposes the latest spending bill to come out of Washington, which will add to our national debt without any plan to balance our budget. Rather than forcing President Obama to consider a real plan to balance our budget in five years and offer our children and grandchildren a debt-free future, the Washington establishment is once again proving they don’t understand the fundamental issues facing our nation. We simply can’t afford to keep ...

5 of the best quotes against the national debt

The total U.S. national debt to date is a whopping $18,807,234,015,463.93, roughly $58,000 per citizen(!), according to Ed Hall who used information from the Treasury Department to calculate the number. While the push to repeal Obamacare in the Senate reconciliation bill moves to the House and then to President Obama's desk, it's the perfect time to remember why conservatives need to continue to push for an end to out-of-control spending in Washington: because — in the words of U.S. Senator Mike Lee — letting future generations foot the bill is "taxation without representation." Here are leaders past and present who remind us why we need ...

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 ...