Free Republic

If we don’t stop our runaway national debt, it will require much higher taxes and dramatic cuts in spending.Last September, the Congressional Budget Office (CBO) predicted the federal debt wouldn’t hit $29 trillion until 2028. Just short of a year later, the national debt stands at $28.6 trillion and is set to surpass $29 trillion within weeks.Since Congress hasn’t yet enacted all its new spending proposals, the CBO debt estimates don’t yet include them. The $1.2 trillion “infrastructure” bill still has to pass the House, and a $3.5 trillion budget reconciliation bill will add to the current budget. The proposed...

For Immediate ReleaseOffice of the Press SecretaryMay 14, 2005 President's Radio Address      Audio THE PRESIDENT: Good morning. I'm pleased to report that we see new signs that the pro-growth policies we have pursued during the past four years are having a positive effect on our economy. We added 274,000 new jobs in April -- and we have added nearly 3.5 million jobs over the past two years. Unemployment is down to 5.2 percent, below the average rate of the 1970s, 1980s, and 1990s. We have seen steady job gains during each of the past 23 months, and today more...