The Mercatus Center has released its fiscal rankings of each state in the nation. Find your state in the map below to see how highly (or lowly) it may have ranked: Here’s what the report’s authors, Eileen Norcross and Olivia Gonzalez, had to say about the five states occupying the fiscal basement in 2015,…
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The Congressional Budget Office has scored President Trump’s first budget proposal. In its report, the CBO finds significant reductions in the U.S. government’s annual budget deficits compared to their baseline estimates, which reflect their projections of how those deficits would have grown if the spending policies of the Obama administration had continued on autopilot….
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After going over two years without any kind of fiscal plan, Illinois’ state government now has a budget after the state’s legislature overrode a veto by the state’s governor to impose large tax increases on the incomes of the state’s residents and corporations. Unfortunately, Illinois’ legislature made no effort to address the state’s biggest…
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According to the U.S. Treasury Department, the U.S. Department of Education has now cumulatively borrowed over one trillion dollars from the public for the purpose of funding its Federal Direct Student Loan program since January 2009. Political Calculations’ charted the history of the Education Department’s borrowing to support its student loan business. Between January…
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As we’re in the midst of celebrating the founding of the United States on for many is a long holiday weekend, it might also be a good time to consider the state of the federal government’s fiscal ledger on the eve of this year’s Independence Day. In January 2017, the outgoing Secretary of the…
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As Illinois’ debt doomsday clock keeps ticking down to July 1, 2017, where in the absence of the state legislature passing a budget that can be approved by the state’s governor, the state government will almost certainly have its credit rating cut to junk status as it will also stop paying contractors to work…
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Last Friday, President Trump signed the VA Accountability and Whistleblower Protection Act into law, which promises to finally make it easier for the Department of Veterans Affairs senior leadership to remove supervisors and employees who have engaged in misconduct from their jobs, while also better protecting the employees who make misconduct at the VA…
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Illinois’ fiscal situation is getting worse. ZeroHedge summarizes the state’s rapidly deteriorating predicament: With just 10 days to go until Illinois enters its third year without a budget, resulting in the state’s imminent downgrade to junk status and potentially culminating in a default for the state whose unpaid bills now surpass $15 billion, Democratic…
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What a difference a small change in personnel at the White House makes! Nearly two and a half years after becoming President, Barack Obama finally got around to signing an executive order to establish the “Campaign to Cut Government Waste“, which promised to impose new oversight and accountability aimed at reducing waste, fraud and…
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Over the last several weeks, we’ve been watching a very strange race to the bottom between two very fiscally-troubled states, Illinois and Connecticut, where the state government of each seems intent on becoming the first U.S. state to crash its credit rating all the way down to junk status. It looks like Illinois’ state…
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