Budget and Deficit

President Obama's bogus promises are legendary, but perhaps you've forgotten his "sky is falling" forecast about the sequester. Tom Giovanetti points out the economy added about 1 million new jobs over the period during which the sequester was supposed to cost 750,000 jobs.

President Obama will deliver his State of the Union Address on January 28, and will likely begin by stressing that the economy continues to improve. But at least one economic dark cloud looms: the debt ceiling. 

Having both the highest national debt and the highest corporate tax rate among our competitors is not a very competitive strategy for the future.

Among the disappointing lessons of the budget deal: More spending makes politicians on both sides of the aisle a little more merry.

For the first time in decades, the sequester actually reduced federal discretionary spending, rather than just slowing the rate of growth. That was a huge achievement and is almost certainly one of the primary reasons why the economy is picking up steam again. If the Ryan-Murray agreement passes, the sequester is dead; there won’t be any resurrection.

With the next round of sequester spending restraints scheduled to hit in 2014, we’re about to find out which Republicans have the courage of their supposed limited government convictions.

IPI joins with orther organizations in a letter recommending consideration of a variety of strategies to reduce spending, and increase revenue, through privatization policies.

The sky didn’t fall, job creation picked up instead of slowing down, and in the process we’ve managed to begin the process of restraining federal spending.

Without significant changes, entitlements could soon take every dollar of federal revenue.

Each US taxpayer now has a federal-debt liability of $1.1 million, and rising.