Report: 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…

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Study: 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…

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Treasury: March 2016 marks biggest March deficit in four years

The federal budget deficit spiked in March – driving the nation closer to economic disaster. ABC News has the story: The Treasury Department says the deficit for March totaled $108.0 billion. That marks the biggest March deficit in four years and was more than double the imbalance in March 2015. The large jump from a…

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Financial expert: Entitlement spending by 2019 will eclipse tax revenue

Eyeglasses with newspaper and coffee cup

The U.S. is experiencing one of the longest economic recoveries since the 1960s and could be teetering on recession, as interest on our debts continue to accrue and as entitlement spending continues to balloon over the next three years. Forbes has the commentary: The weakest recovery in modern history has stretched on for 69 months……

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Congressman: ‘This could be the bill of the century’

A first-term congressman from Georgia is endeavoring to walk back the years of profligate spending in Washington, D.C. with a constitutional amendment that would require Congress to balance the budget within 10 years of ratification. The Daily Signal has the details: “The only way we can control spending in Congress in today’s free-spending era is…

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