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Barack Obama will propose a big spending increase in his next budget

President Barack Obama faces a Republican-controlled Congress that opposes most, if not all, of his legislative agenda. And with just two years left in his presidency, he staring down irrelevance, without many, if any, real legislative accomplishments embraced by the American people. In some way, these sorts of problems can be liberating, but, as he so frequently tells Republicans, there is still an expectation that he live in some sort of a reality.

01/16/2015
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No, Barack Obama, budget deficits aren't "manageable" by any stretch of the imagination

Looking to stake some ground just weeks before the mid-term election, President Barack Obama, in a speech last week at Northwestern University, dismissed concerns about budget deficits, claiming that ObamaCare is keeping down healthcare costs.

10/06/2014
The Salmon Rule: A Vote for Common Sense
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The Salmon Rule: A Vote for Common Sense

Keep your word. Don’t take things that aren’t yours. Don’t spend more than you have. This is common sense for most people. But in Washington, D.C., these grade-school lessons are considered downright radical.

03/11/2013
Chart: Federal spending and receipts in one image (FY 2013)
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Chart: Federal spending and receipts in one image (FY 2013)

01/25/2013
If Obama Wants Kids On Stage, Let's Give Him Kids On Stage
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If Obama Wants Kids On Stage, Let's Give Him Kids On Stage

Today, Obama is once again going to ignore the Constitution. This time, the Constitutional right under attack is gun control. According to White House Press Secretary Jay Carney, Obama will be presenting a “concrete package” of proposals which will water down the Constitutional rights of American citizens.

01/16/2013
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There Is No National Debt

As we approach the next artificially constructed, politically motivated, intentionally promoted national crisis, we should keep one thing in mind: though we speak of a national debt, there is no single national debt.  The debts the government owes are real enough, and a source of national shame, totalling as they do over $16 trillion.  But those debts are owed to millions of holders of the various Treasury notes, bills, and bonds, each of whom may own multiple securities of various maturities.  Sold weekly, the securities come due and, as people get around to it, are either rolled over or redeemed every business day.That is important because as we run up against the debt ceiling, the fear mongers will claim that failure to raise the ceiling will cause us to default on the debt, as if it is one single sum owed to a single debt holder.  Defaulting on it is made to sound like the sky is falling, as if it would be the end of the nation itself.Another category of securities are those held by government agencies, such as the Social Security "Trust Fund" and the federal pension funds.  Failure to redeem one of these securities would be politically explosive, exposing the duplicitous nature of the generational theft caused by runaway spending.In fact, defaulting on one of these debts, as stupid and irresponsible as that would be, would merely cause people to reconsider the soundness of tying up their money in Treasury securities.  That would cost the government more in interest payments in the future, which would probably lead to a chain reaction of inflation.  On the other hand, it might lead people and institutions to invest in more productive ways, such as in the stock market.

01/14/2013
A Fiscal Cliff Deal Appears Unlikely; What's Next?
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A Fiscal Cliff Deal Appears Unlikely; What's Next?

As we approach the inevitability of the fiscal cliff, taxpayers are understandably concerned. How much more will I have to pay in taxes?   Will the the economy worsen?  What will the spending cuts mean for my family? What surprises await for personal and business taxes and regulations in 2013?First, the new taxes. Personal income taxes will be going up for everyone. As reported today by The Right Scoop,

12/27/2012
The National Debt in Perspective
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The National Debt in Perspective

The national debt is at $15.8 trillion dollars. It is roughly 7 times that amount when the unfunded liabilities of Social Security, Medicare, and Medicaid are factored in. These numbers are so large that it is often difficult to grasp.

07/11/2012
Keep Raising the Debt Ceiling and the Whole House Will Collapse
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Issue Analysis

Keep Raising the Debt Ceiling and the Whole House Will Collapse

I, however, place economy among the first and most important republican virtues, and public debt as the greatest of the dangers to be feared.—Thomas Jefferson Last week on January 26th Congress voted against a measure to deprive the president of the authority to raise the debt ceiling. In a 44 – 52 vote, the president was granted permission to add another $1.2 trillion to the national debt, deferring for some time any difficult albeit necessary fiscal decisions. For the first time in over half a century, the national debt is roughly equal to the gross domestic product of the United States. This situation is analogous to an individual whose debts are equal to the total value of his income and savings. Mainstream economists will note, however, that this is not as dire of a situation as it first appears to be. After World War II, the national debt was 122 percent of GDP, about 22 percent higher than that of today. This is true, although there are several other factors that are worth consideration in comparing and contrasting the fiscal solvency of the United States in 1946 with that of today.

01/30/2012
Key Vote NO on Speaker Boehner's Debt Ceiling Plan
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Key Vote NO on Speaker Boehner's Debt Ceiling Plan

Dear FreedomWorks member, As one of our million-plus FreedomWorks members nationwide, I urge you to contact your Representative and ask him or her to vote NO on Speaker Boehner’s new debt ceiling plan. While we applaud House leadership for passing the Cut, Cap and Balance Act last week, we do not support Speaker Boehner’s new compromise, which violates the Cut, Cap and Balance Pledge because it neither cuts nor caps nor balances federal spending.

07/26/2011

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