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National Debt

How to Balance the Budget Without Raising Taxes or Cutting Essential Services

Nick Gillespie | Posted 05.25.2011 | Politics
Nick Gillespie

Senator Rand Paul's new budget plan cuts $500 billion from the federal budget this year. Paul proposes cutting defense spending by 6.5 percent, saving $47 billion. But will his fellow Republicans go along?

Voter Ignorance Threatens Deficit Reduction | BRUCE BARTLETT, the Fiscal Times | Posted 05.25.2011 | Business

It is a well-known fact among budget analysts that Americans have long had cognitive dissonance about government spending. They say they want it cut a...

Letting Tax Cuts Expire Would Save U.S. $60 Billion Per Year

The New York Times | DAVID LEONHARDT | Posted 05.25.2011 | Politics

$60 Billion: The approximate amount that extending the Bush tax cuts on income above $250,000 a year -- which Congress seems on the verge of doing -- ...

U.S. Will Hit Debt Limit In April/May, Treasury Says

Posted 05.25.2011 | Business

WASHINGTON (By David Lawder) - The United States will hit a $14.3 trillion statutory limit on its debt slightly later than previously estimated, the T...

Elise Foley

GOP Emergency Debt Provision Would Put Bondholders First | Elise Foley | Posted 05.25.2011 | Politics

WASHINGTON -- Sen. Pat Toomey (R-Pa.) filed an amendment Tuesday evening that would require the U.S. government to prioritize paying bondholders over ...

U.S. National Debt: Huge, But Not A Catastrophe

DailyFinance | JOSEPH LAZZARO | Posted 05.25.2011 | Business

With Congress soon to face a decision about whether or not to raise the federal debt ceiling, the question of how we should deal with the $14.08 trill...

Can't Forget About the Present as We Look to Future

Byron Williams | Posted 05.25.2011 | Politics
Byron Williams

The president sought to galvanize the nation around a single vision by using a metaphor from a time when the United States was losing the race to space. But is this really America's "Sputnik moment"?

Welcome to Paul Ryan's House - and budget

Andrew Fieldhouse | Posted 05.25.2011 | Politics
Andrew Fieldhouse

Not until recently, though, was Ryan's "Roadmap" paid much heed, but new rules passed at the beginning of the 112th Congress substantially empowered him as role as House Budget Committee Chairman.

The State of the Union Is: Appalling

Stephen Herrington | Posted 05.25.2011 | Politics
Stephen Herrington

Americans are broke and job prospects are the lowest they have been in 80 years. That's it. Nothing else matters, and public opinion polls bear this out.

Joe Klein: 'Righteous Burghers' Obsessed With Debt Are Ignoring The Economy

TIME | Posted 05.25.2011 | Politics

Again, I'm not opposed to long-term deficit reduction, so long as it's equitable. But I do wonder why these righteous burghers are leading the charge ...

Debt Commission Staffers Paid By Outside Groups

The Washington Post | Dan Eggen | Posted 05.25.2011 | Politics

...Tthe National Commission on Fiscal Responsibility and Reform has also come under attack for its unusual approach to staffing: Many of its employees...

Ireland Is the Latest Cautionary Tale for the U.S.

Richard Barrington | Posted 05.25.2011 | World
Richard Barrington

Ireland went through some nervous moments last week as yields on its debt soared due to concerns over the country's financial solvency. Could this ever happen to the U.S.?

The Debt Tax

Terry Newell | Posted 05.25.2011 | Politics
Terry Newell

Don't look now, but Congress just raised your taxes. How can that be? Didn't they just approve a bill that will keep Bush-era tax cuts in place, lower the inheritance tax, and lower the Social Security tax for a year? Call it the "debt tax."

America's Future: Our Choice... But Not for Long

Ken Blackwell | Posted 05.25.2011 | Politics
Ken Blackwell

We can either act to pass a balanced budget amendment this year -- the only way to ensure Congress will act -- or China and others will force upon us a more abrupt and painful balanced budget. The choice is ours ... but not for long.

Foretelling the Demise of Democracy

Eric C. Anderson | Posted 05.25.2011 | World
Eric C. Anderson

In step with the citizens of Greece, Ireland, Italy, Portugal and Spain, Americans continue to demand public officials deliver services without imposing an appropriate surcharge. Our shameful sense of entitlement is poised to end our dalliance with democracy.

All for One and All for One

Pat Choate | Posted 05.25.2011 | Politics
Pat Choate

Protecting the assets of the super rich seems to be the primary goal of the Senate Republicans and President Obama in this lame duck session of Congress.

Let the Bush Tax Cuts Expire in 2010 or Make Matters Worse

Stephen Herrington | Posted 05.25.2011 | Politics
Stephen Herrington

If the Republicans want to govern, let them offer a solution for the unemployed and see what the public thinks then. Just continuing the Bush tax cuts will do nothing to help the economy.

Send a Thank You From China to Our Leaders: A Call to Action

Adam McKay | Posted 05.25.2011 | Politics
Adam McKay

I'm sending gifts to McConnell and Boehner with this note: "Thanks for borrowing more money from us to pay for your tax cuts for the rich. And thank you for always placing China first."

Lucia Graves

Bernie Sanders Rallies Activists To Sink Obama's Tax Compromise | Lucia Graves | Posted 05.25.2011 | Politics

WASHINGTON -- Bernie Sanders (I-Vt.) told thousands of Americans that if Republicans "run over us now, there is no stopping these guys," and called on...

Tax Cut Ironies

James Kwak | Posted 05.25.2011 | Business
James Kwak

What does Barack Obama want? Does he really like most of the Bush tax cuts? Does he really think the bulk of the tax cuts are good for the country, and that helping out the top brackets is a reasonable price to pay to keep them?

Congratulations, Republicans, You've Again Proven Your Prowess With the Tax Deal

Donnie Fowler | Posted 05.25.2011 | Politics
Donnie Fowler

Brilliant. Good work by you. Keep on truckin', GOP stalwarts. You've got a clear road ahead.

Spider-Man: Turn Off the Debt

Robert Brenner | Posted 05.25.2011 | Comedy
Robert Brenner

Midnight. The Oval Office. President Barack Obama is pouring over the budget figures. Suddenly, the Amazing Spider-Man swings in through the window.

Frank Rich: Obama, The GOP, And A Case Of Stockholm Syndrome

The New York Times | FRANK RICH | Posted 05.25.2011 | Politics

THOSE desperate to decipher the baffling Obama presidency could do worse than consult an article titled "Understanding Stockholm Syndrome" in the onli...

"Bipartisan" Support for Debt Plan Doesn't Mean Much

Morgan Warners | Posted 05.25.2011 | Politics
Morgan Warners

Of the Republicans lending support to the commission's proposal, they are all either Senators, in industry, or out of office.

Can We Really Have an Adult Conversation About the Deficit and Debt?

Sheri and Allan Rivlin | Posted 05.25.2011 | Politics
Sheri and Allan Rivlin

You can only be against taxes, spending cuts, and deficits in a world where the laws of arithmetic do not apply -- for example, a political campaign.