News
Politico | House GOP crafting new spending bill
With a governmentwide spending bill due to expire next month, House Appropriations Committee Chairman Hal Rogers is proposing to substitute a modified version that puts defense and veterans programs on more permanent footing and better able to deal with threatened across-the-board cuts March 1.
Econ Comments & Analysis
Real Clear Markets | Global Debt Accumulation Reaches Record Levels
The current global debt accumulations are unprecedented. In fact, it can be observed that at no time in the history of the human race, other than during periods of war, has debt accumulation on the planet ever been greater. And the most rapid debt accumulators are the world's sovereign nations.
AEI | Learning to love the sequester
In his State of the Union address Tuesday, President Obama played on Congress' fears that an abrupt spending sequester at a rate of about $110 billion per year ($1.1 trillion over 10 years) scheduled to begin March 1 would devastate the economy. "These sudden, harsh, arbitrary cuts," warned Mr. Obama, would "slow our recovery and cost us hundreds of thousands of jobs."
Heritage Foundation | Budget Cuts Would Not Harm the Economy
The Congressional Budget Office projects that the federal budget deficit will exceed three-quarters of $1 trillion in 2013. The U.S. economy continues to badly underperform, leaving millions of Americans out of work, depressing wage gains and restricting opportunities.
CATO | Why in the World Are We All Keynesians Again? The Flimsy Case for Stimulus Spending
Passed in February of 2009, the American Recovery and Reinvestment Act (ARRA) came with a price tag of $831 billion. Yet the economy has not returned to a path of robust economic growth and unemployment has stubbornly remained high; only in September of 2012 did it dip (barely) below 8 percent. This has not stopped the Obama administration from pushing for further fiscal stimulus.
