Keyword: federalspending
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So now the president is a committed man of the left. No longer is he faking moderation or even trying to bring the nation "together." Nope. As he made clear in his inauguration speech, Barack Obama is dedicating himself to achieving "social justice" no matter what the cost. And the cost is high. The annual federal deficit is more than $1 trillion, with the national debt approaching $17 trillion. Just last week, the nonpartisan Government Accountability Office warned once again that federal spending is "unsustainable." That means if government spending is not curtailed and quickly, the U.S. dollar could collapse....
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On Friday, the New York Times Television section highlighted tonight's Sean Hannity one-hour special “Boomtown,” a program featuring Government Accountability Institute President and Co-founder Peter Schweizer and Breitbart News Executive Chairman and Government Accountability Co-founder Stephen K. Bannon. 9 P.M. (Fox News) BOOMTOWN: WASHINGTON, THE IMPERIAL CITY In this edition of “Hannity,” the host, Sean Hannity; Peter Schweizer, the president and co-founder of the Government Accountability Institute; and Stephen K. Bannon, the executive chairman of Breitbart News and co-founder of the Government Accountability Institute, investigate what they call crony capitalism among the city’s power elite and the tactics used by...
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America is drowning in debt, but D.C. is swimming in money! We reveal how you’re paying the price for the booming business of government. Sean Hannity gets real insight from political insiders on Boomtown: Washington, the Imperial City! Watch a sneak peek below and don’t miss this Hannity special, Friday at 9p/12a ET.
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President Obama made a remarkable statement to John Boehner in the middle of their negotiations leading up to the fiscal cliff. "We don't have a spending problem," the president said. We have "a health care problem." To put this in perspective, almost every economist familiar with the federal government finances views our national health care problem as a spending problem. In fact, it is THE spending problem. If the federal government were not buying health care, we wouldn't have a long term deficit. The reason is not hard to understand. For the past four decades health care spending per person...
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One definition of "imperial" on dictionary.com is, "of the nature or rank of an emperor or supreme ruler." At his news conference Monday, a petulant, threatening and confrontational President Obama spoke like an emperor or supreme ruler. All that was missing was a scepter, a crown and a robe trimmed in ermine. This president exceeds even Bill Clinton in his ability to evade, prevaricate and dissemble. I didn't think that possible. Not only did he supply long answers to relatively easy questions, but much of what he said bore no relation to reality. He spoke of having had the debate...
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WASHINGTON -- President Obama thinks the debate over raising the $16.4 trillion debt ceiling isn't the place or the time to be discussing runaway spending. Essentially, that was his message Monday in a full-court press assault on Republicans in Congress for having the temerity to suggest that before we raise the debt ceiling by another $2 trillion, maybe we should begin discussing how to reduce spending, how to shrink our monstrous national debt and how the government must begin living within its means. But with the government debt soaring toward nearly $19 trillion -- and likely to skyrocket to $25...
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Sometimes, looking at the political discourse in this country, I wonder if we really understand the ratchet effect of increasing government programs and power over time: unlike in business, unlike in nature, unlike in, well, real life -- failure is not punished, but at best ignored, at worst rewarded. Once a program is in place, it is almost impossible to repeal, even when Republicans obtain political power because voters become dependent on it. Progressives have known this for as long as they have been blowing up the bureaucracy. Congressman Henry Waxman famously said that, if it took losing a few...
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A brief visual history of United States Federal State and Local Government Spending from 1980 to 2012. The United States deficit was 221 billion in 1990. It is now 6.2 trillion as of 2012. This is morally and fiscally irresponsible.
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Do you remember what the mainstream media mainly talked about as the country careened toward the fiscal cliff? Did they talk about the harmful economic effects of impending tax increases? Did they talk about which tax increases would be worse than others? Did they talk about the need to get rid of waste in government without causing economic harm? No. None of that. The taking heads and opinion writers focused like a laser on one and only one question: who was going to get the blame if we went over the cliff. Up next will be the debt ceiling deadline...
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Did you watch the Notre Dame v. Alabama, BCS Championship game this week? Alabama beat Notre Dame 42-12. It wasn’t even close. 42-12, now that’s a big win. You know who didn’t have an overwhelming victory? President Obama. His margin was significantly closer than the Alabama- Notre Dame game and it was a substantially closer than four years ago. So while there is no doubt that this year was a disappointing outcome for conservatives, the close election results mean that the Left lacks the mandate to enact the president’s liberal agenda. There has been a huge victory in a recent...
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As a senator and presidential candidate, Barack Obama said that he detested budget deficits. In 2006, when the aggregate national debt was almost $8 trillion less than today, he blasted George W. Bush's chronic borrowing and refused to vote for upping the debt ceiling: "Increasing America's debt weakens us domestically and internationally. Leadership means that 'the buck stops here.'" In 2008, Obama further blasted Bush's continued Keynesian borrowing: "The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of...
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Senate Minority Leader Mitch McConnell tells us the tax issue is behind us and that we can now move on to spending. Really? What makes him think the GOP will succeed this time when it couldn't last time? The just-concluded fiscal cliff deal included no material spending cuts, which the GOP justified by saying it had achieved locked-in rates for most of Bush's tax cuts, which would force Obama to seriously discuss spending cuts and entitlement reform as part of the upcoming debt ceiling negotiations. But a White House memo announcing the deal said that postponing the sequester for two...
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Here’s two ways to think about the “fiscal cliff” deal that just took place in Washington. You are sitting at dinner and television is on, broadcasting the news. There is one story after another about things you don’t want to hear. Recession. Unemployment. You walk over to the TV, turn it off – or switch to a sitcom or sporting event - and sit back down to finish your meal in peace. Or a more personal version. You take your mail out of the mailbox and see the bills that are due. Without opening the envelopes, you throw them into...
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WASHINGTON - Let's be clear what the "fiscal cliff" deal does and doesn't do. It permanently preserves the bulk of George W. Bush's tax cuts for most Americans, but it does not offer desperately needed new incentives to revive a weak economy and jobless labor market. On the contrary, the 11th hour compromise is marred by higher taxes that will hinder further growth, cost hundreds of thousands of jobs, and make life even tougher for many Americans barely surviving paycheck to paycheck. This deal, which elicited effusive praise from Obama in the wee hours of New Year's Day, would increase...
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Everything that everyone loathes about Washington was present in the "fiscal cliff" bill just passed by Congress. It is 153 pages long; most members probably hadn't read all of it before voting on it; it was delivered in the middle of the night; it was loaded with pork -- the mother's milk (to mix a metaphor) of politicians -- and while the country is already swamped with massive debt, it contains massive giveaways to satisfy interest groups and campaign contributors. Did I mention the bill raises taxes on top of the coming Obamacare taxes, but does nothing -- nothing --...
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If you are one of the folks who voted for Barack Obama in the last election, what did you vote for? More generally, if you voted for any liberal politician, what did you vote for? Here are three things for starters: (1) no reform of the public schools, (2) no reform of the welfare system, and (3) no reform of labor market institutions that erect barriers between new entrants and good jobs. How can I be so certain? Because the teachers unions, the welfare bureaucracy and all the other unions form the base of the Democratic Party. At least they...
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President Barack Obama issued an executive order to end the pay freeze on federal employees, in effect giving some federal workers a raise. One federal worker now to receive a pay increase is Vice President Joe Biden. According to disclosure forms, Biden made a cool $225,521 last year. After the pay increase, he'll now make $231,900 per year. Members of Congress, from the House and Senate, also will receive a little bump, as their annual salary will go from $174,000 to 174,900. Leadership in Congress, including the speaker of the House, will likewise get an increase.
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President Barack Obama issued an executive order to end the pay freeze on federal employees, in effect giving some federal workers a raise. One federal worker now to receive a pay increase is Vice President Joe Biden. According to disclosure forms, Biden made a cool $225,521 last year. After the pay increase, he'll now make $231,900 per year. Members of Congress, from the House and Senate, also will receive a little bump, as their annual salary will go from $174,000 to 174,900. Leadership in Congress, including the speaker of the House, will likewise get an increase.
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With plenty of two-income highly educated families, the D.C. region already has a reputation as one of the most affluent in the country. But the area is fast emerging as a home to the truly rich as well. High-end luxury retailers are responding. Brands such as Aston Martin are expanding their operations into the area — betting, for instance, that there will be plenty of customers who can afford the $280,000 sports car James Bond drives in the movies. Nearby in Tysons, a Saint Laurent store and the high-end electric car maker Tesla are also set to open their doors.
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Listening to progressive media pundits, I'd think the most evil man in the universe is Grover Norquist, head of Americans for Tax Reform. His crime? He heads a movement that asks political candidates to pledge not to raise taxes. I think Grover accomplished a lot. But I wish he'd convinced politicians to pledge not to increase spending. President Obama says raising taxes to cut the deficit is a "balanced" approach. Balanced ... But what's "balanced" about raising taxes after vast increases in spending? Trillions for war, Medicare, "stimulus" and solar panels. Tax receipts rose -- after tax-rate cuts -- from...
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