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It hasn’t gotten much attention, but two big budget showdowns are looming in Washington in the weeks ahead. The first is what to do about raising the $18 trillion debt ceiling. And the second is whether to retain the spending caps/sequester cuts in the 2016 budget. Treasury Secretary Jack Lew announced last week that Congress will bump up against the debt ceiling in November.
Bubble, bubble, toil and trouble. That might as well be the new theme for the American economy. Washington, the White House, Congress, housing agencies, and the Fed, none of them have learned from the housing bubble of 2007-08.
In Juan Williams’ latest piece for Fox News Opinion, he charges the liberty wing of the Republican Party with being overly disruptive to the GOP, and suggests that it’s time they split off formally and form their own party.
As one of our more than 6.9 million FreedomWorks activists nationwide, I urge you to contact your representative today and ask him or her to support Representative Tom McClintock’s Default Prevention Act, H.R. 692. This simple, common-sense piece of legislation would remove any possibility of defaulting on our national debt in the event that we reach our statutory debt limit.
The ever-shifting horizon on when the federal government is scheduled to reach its borrowing limit has most recently been set at November 3rd, just days after John Boehner is scheduled to resign his office. What this means is that no new leadership will save us from yet another increase in the debt ceiling, although there will always be a principled few who will want to resist.
The main principle behind civil asset forfeiture reform legislation introduced in both chambers of the Pennsylvania General Assembly is widely embraced by voters in the Commonwealth, according to a survey released on Thursday. The legislation would require a criminal conviction before property can be forfeited to the state. Currently, a property owner does not even have to be charged with a crime before their property can subject to forfeiture.