Archive for April, 2011

“Spending Reductions in the Tax Code”


Thursday April 28th, 2011   •   Posted by Craig Eyermann at 4:24pm PST   •   3 Comments

U.S. President Barack Obama displayed his talent for Newspeak oratory when announcing his second proposed budget for the United States federal government’s 2012 fiscal year on 18 April 2011. Last week, President Barack Obama’ proposal on long-term deficits demands spending cuts and tax increases in 2014, if the federal government does not reach its...
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Welfare State Update: Americans Depend More on Federal Aid Than Ever


Thursday April 28th, 2011   •   Posted by David Theroux at 1:11pm PST   •   1 Comment

Dennis Cauchon in USA Today reports that: Americans depended more on government assistance in 2010 than at any other time in the nation’s history, a USA Today analysis of federal data finds. The trend shows few signs of easing, even though the economic recovery is nearly 2 years old. A record 18.3% of the...
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Obama’s Answer to Higher Gasoline Prices: Raise Taxes


Tuesday April 26th, 2011   •   Posted by David Theroux at 6:43pm PST   •   0 Comments

Gasoline prices have continued to rise now for 35 straight days. Gas pump prices have climbed for 35 straight days even though industry surveys show Americans have started to drive less. The national average rose by a penny to hit $3.87 per gallon on Tuesday, more than a dollar higher than it was last...
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Why Washington Only Cut $38 Billion from Federal Spending


Saturday April 23rd, 2011   •   Posted by David Theroux at 5:12pm PST   •   3 Comments

In the following, insightful, new video, Independent Institute Research Fellow Benjamin Powell reveals “Why Washington only cut $38 billion” recently from federal spending because as public choice economics shows, special interests prevail over the average citizen by utilizing the political process to redistribute wealth and power from the many to the few (and costs...
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What Forced President Obama to the Deficit Cutting Table?


Wednesday April 20th, 2011   •   Posted by Craig Eyermann at 7:44am PST   •   1 Comment

Last Wednesday, months after rejecting his own presidential commission’s recommendations for reducing the U.S.’s record deficits produced by his administration, President Barack Obama finally offered a plan to deal with the nation’s excessive federal budget deficit. He didn’t do it because he wanted to do it or because he genuinely believes it’s in the...
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Standard & Poor’s Downgrades U.S. Government Debt Rating to Negative


Monday April 18th, 2011   •   Posted by David Theroux at 1:46pm PST   •   4 Comments

In “S&P Cuts U.S. Ratings Outlook to Negative,” Damian Paletta at the Wall Street Journal reports that the influential firm Standard & Poor’s has just “for the first time lowered its outlook on the U.S. government’s debt to ‘negative’ from ‘stable.’” A stark warning from a credit-rating firm about the U.S. government’s fiscal problems...
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Grasping and Gasping at the Federal Budget’s Trillions and Trillions


Saturday April 16th, 2011   •   Posted by David Theroux at 3:10pm PST   •   1 Comment

In a new article in the Philadelphia Inquirer, “Grasping budget’s billions and trillions: Incomprehensibly huge numbers mask real burdens,” Independent Institute Research Fellow Emily Skarbek (Director of the Government Cost Calculator) discusses the meaning and absurdity of the $3.8 trillion federal budget and the meaningless reforms being proposed. Taxpayers might have strong feelings about...
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The President’s Reversal?


Monday April 11th, 2011   •   Posted by Craig Eyermann at 11:00am PST   •   5 Comments

How much has the recent debate over federal spending changed things in Washington D.C.? Consider that at the beginning of the year, both the President and the members of his political party believed that any cuts to their previously proposed levels of spending would be unthinkable. After all, it was only two months ago...
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Pro-ObamaCare Washington Post and CBS Received Money from Obamacare Slush Fund


Thursday April 7th, 2011   •   Posted by David Theroux at 5:37pm PST   •   0 Comments

Matthew Boyle at The Daily Caller reports in “Washington Post and CBS receiving money from Obamacare slush fund” that key pro-Obamacare media, corporations, and unions have all received funding from the ObamaCare act: Two mainstream news organizations are receiving hundreds of thousands of taxpayer dollars from Obamacare‚Äôs Early Retiree Reinsurance Program (ERRP)—a $5 billion...
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The Congressional Circus Over Federal “Cuts” Is Squabbling Over Nothing


Wednesday April 6th, 2011   •   Posted by David Theroux at 6:08pm PST   •   1 Comment

In a new article, “How Can Anyone Take This Seriously?”, Independent Institute Research Editor Anthony Gregory slams the absurd squabbling in Congress over 2% of the federal deficit while the U.S.’s gigantic spending and debt crisis plunges onward. The U.S. is running deficits somewhere between one and one and a half trillion dollars, and...
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