“The solution to a spending crisis is not tax increases,” Hatch said in the Republicans’ weekly address. “Yet, Washington has consistently demonstrated that it cannot control its urge to spend.” Continue reading →
By Fred Barnes
Simple lessons from the presidencies of Franklin Roosevelt and Ronald Reagan point to what’s likely to be the only successful approach to containing government spending in the Barack Obama era. Continue reading →
While the State of Texas operates within a spending limit contained in the Texas Constitution, the United States Constitution contains no such limitation. It is the omission of such a spending limit from the Constitution that has allowed the federal government to engage in deficit spending, resulting in the record levels of debt that the taxpayers of the United States must now (or eventually) repay. As a result of this unprecedented and reckless federal spending, President Obama signed the second national debt extension of his presidency on February 12, 2010, increasing the ceiling on the debt from $12.4 trillion to $14.3 trillion. As of August 17, 2010, the United States national debt figure stands at $13.3 trillion.