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Posts Tagged ‘budget’
Second Fleet in Jeopardy as DOD trims budget
The U.S. Second Fleet is in danger of being shut down in the name of budget cuts, threatening hundreds of jobs and the readiness of American combat forces. The fleet, which trains and certifies every ship, sailor and air wing that is deployed to sea, is being eyed as a...
The People Can Fix The Budget!
POLITICO features an editorial from former Senator Norm Coleman in support of the creation of the balanced budget amendment. The balanced budget amendment is gaining some popularity among those concerned about the fiscal health of the government, and would require that the federal budget be balanced every year, except during...
Rep. Paul Ryan pushes budget reform, and his party winces
Rep. Paul Ryan (R-WI) is one of the most prominent members of Congress on the Republican side, often talked about for future office. Ryan is currently focusing on getting his fellow Republicans to get serious about tackling our national debt, including the reform of Medicare and Social Security. Ryan makes...
CBO tells Congress the deficit is unsustainable
The Congressional Budget Office informed Congress this week that the growing budget deficits will cause debt to rise to unsupportable levels, eventually reaching an undetermined tipping point that will cause another financial crisis. As of now, federal debt stands at 62% of GDP. The last time it exceeded 50% was...
Ask an Expert: How Can Congress Just “Deem and Pass?”
Question: During the Health Care debate, they talked about the House “deeming” the bill passed without voting on it. The House also just “deemed” a budget passed, instead of voting on it. How did that work? Anne, Richmond, Virginia. Answer: They didn’t do it. What was procedurally possible was deemed...
Democrats continue free spending ways, even in face of daunting deficits
Speaker Nancy Pelosi continues to follow the Democratic Party’s line that government spending will help to stimulate the economy: Pelosi said that increasing unemployment benefits is one the best ways to stimulate the economy and create jobs. In an election year where the economy and fiscal issues are the top...
Federal Debt Races Past $13 Trillion
The United States has just surpassed an unwelcome milestone: the national debt has passed $13 trillion. The U.S. national debt has passed the $13 trillion mark, according to USDebtClock.org, an independent website that tracks the real-time growth of U.S. revenues and spending. On Tuesday, the national debt stood at $12,995,779,490,444.52,...