209 results for tag: National Debt

Jenny Beth’s Journal: The Solution to Our Spending Crisis is the Penny Plan

A recent poll came out showing a high level of support for a solution to the growing spending crisis. The penny plan would require the government to reduce the budget by one penny for every dollar it spends annually for five years. The Hill has Jenny Beth’s commentary: The new poll, commissioned by Club for Growth, found support for the penny plan runs wide as 76 percent of Republicans, 68 percent of Independents, and 63 percent of Democrats surveyed said they back it. Why not? The penny plan is not some radical policy. It simply requires a spending cut of 1 percent in the next year. The penny plan is not new. Neither is its strong level of ...

Innovation is One of Our Greatest Strengths

Are we destined to repeat history as other once great empires have with their out-of-control debt? It’s possible, but it’s also avoidable. Why? America has something that these failed empires don’t have … Entrepreneurs. The Washington Times has the story: The country or the society that can make the best use of these complex new technologies will enjoy untold economic and geopolitical benefits. But it will take people with entrepreneurial skills to convert these technologies into products and services that customers want to buy. Entrepreneurial activity is the world’s closest thing to a free lunch. Governments don’t have to create ...

National debt rose more than $1.2 trillion in 2018 fiscal year

The fiscal year of 2018 ended on Sunday with the national debt rising to $21.516 trillion, with $1.2 trillion borrowed this fiscal year. The Washington Examiner has the details: On the last business day of fiscal year 2018, which was Friday, Sept. 28, the total debt had grown to $21.516 trillion. Friday was the first day in history the national debt rose above $21.5 trillion. The increase is just the latest sign that borrowing is on the rise. Last month, the Congressional Budget Office said federal borrowing through the first 11 months of fiscal year 2018 hit $895 billion, $222 billion higher than the first 11 months of the prior year. ...

Tea Party Patriots Citizens Fund Weekly Report from Washington for 6/11/18

CALENDAR: The calendar is the same as last week – the Senate returns on Monday, and the House returns on Tuesday. The Senate will likely finish its work on Thursday, because that’s still a full workweek in the Senate, and the House is scheduled to stay in session through Friday. LAST WEEK ON THE HOUSE FLOOR: The House returned to work on Tuesday, and took up and passed three bills under Suspension of the Rules. On Wednesday, the House took up and passed H.R. 8, the Water Resources Development Act. Then the House took up and passed a motion to concur in the Senate amendment to H.R. 3249, the Project Safe Neighborhoods Grant Program ...

Trump’s rescission package is a step toward fiscal responsibility

President Trump promised to make America great again and cutting unnecessary spending is a part of that dream. This week, President Trump announced that he would be asking Congress to rescind $15 billion of unspent funding in an effort to tackle the latest budget deal and work toward reducing the national debt. “We are grateful to the Trump administration for this rescission package and fully support its implementation as a good first step,” Tea Party Patriots Citizens Fund Chairman Jenny Beth Martin said in a statement this week. ”This is money that cannot be spent so it shouldn’t be spent. It should be returned to taxpayers as a down ...

Rep. Ralph Norman: This ‘atrocious’ spending bill does nothing to clean up the Swamp

The 2016 election was a mandate to change the status quo and drain the swamp. Republicans promised to repeal ObamaCare and cut government spending. Under President Trump, they did deliver on promises to cut taxes and replace the late Justice Antonin Scalia with a constitutional conservative in Justice Neil Gorsuch, but the massive spending ‘boondoggle’ that just passed Congress shows that when it comes to spending, promises are not being kept. Rep. Ralph Norman has the facts: For starters, the massive spending bill increases federal discretionary spending by 13 percent, bursting through caps meant to curb deficit spending. Indeed, under a ...

Tea Party Patriots Citizens Fund Weekly Report from Washington for 3/12/18

CALENDAR: The House will return on Tuesday, and stay in session through Friday. The Senate will come back on Monday, and will stay in session through Thursday. LAST WEEK ON THE HOUSE FLOOR: The House came back to work last Monday and passed two bills under Suspension of the Rules. On Tuesday, the House passed H.R. 4607, the Comprehensive Regulatory Review Act, by a vote of 264-143. On Wednesday, the House passed a Rule governing floor consideration of two bills. On Thursday, the House took up and passed one of those bills, H.R. 1917, the Blocking Regulatory Interference from Closing Kilns Act, by a vote of 234-180. And then they ...

Daily Signal: Spending cuts are better for the economy than tax hikes

Thanks to President Trump, the recently passed Tax Cuts and Jobs Act is a great first step to reviving business confidence in the U.S and boosting economic growth. However, if the Republican party doesn’t follow through on their campaign promise to minimize spending, America will take two giant leaps backward. The Daily Signal has the details: Some point to the deficit as a reason to raise taxes. But new research shows that spending cuts are superior to tax hikes when it comes to reducing the deficit. This should embolden lawmakers to pursue spending reductions in this year’s budget resolution, giving particular focus to reducing entitlem...

Rep. Mark Meadows: This spending proposal is disgusting and reckless

After eight years of reckless spending under the Obama administration, Senate Majority Leader Mitch McConnell and Senate Minority Leader Chuck Schumer managed to strike a so-called budget “deal” that fails to serve the American people and only prolongs their suffering. Breitbart has House Freedom Caucus Chairman Mark Meadows’ take on the reckless deal: The budget deal between Chuck Schumer and Mitch McConnell will increase defense and domestic spending by roughly $400 billion over the next two years; the Defense Department’s budget will rise by $80 billion and domestic spending will increase by $63 billion in 2018 alone. The budget deal ...

Quin Hillyer: The Senate budget deal is overwhelmingly irresponsible

The Senate budget deal worked out on Wednesday should be vetoed by President Trump immediately – if it passes Congress, that is. The agreement would bust budget caps for military spending and it would create an explosion in domestic discretionary spending that is unaffordable to a nation already suffering from years of massive deficit spending. The Washington Examiner has conservative columnist Quin Hillyer's take on the so-called deal: A nation already reeling from years of massive deficit spending, including a demonic $666 billion deficit in the most recently completed fiscal year, cannot afford this new profligacy. The new spending will ...