In “March Madness: U.S. Gov’t Spent More Than Eight Times Its Monthly Revenue,” Terence P. Jeffrey reports at CNSNews.com that the U.S. Department of Treasury has just announced that federal spending for the month of March was more than eight times revenues received. The U.S. Treasury has released a final statement for the month…
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In a new article for the Wall Street Journal, “We’ve Become a Nation of Takers, Not Makers,” Stephen Moore discusses that “More Americans work for the government than in manufacturing, farming, fishing, forestry, mining and utilities combined.” If you want to understand better why so many states—from New York to Wisconsin to California—are teetering…
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In the new article, “The Real Cost of U.S. in Libya? Two Billion Dollars Per Day,” Loren Thompson at Forbes now reports that the real cost of Obama’s war in Libya is $2 billion per day! The one thing most experts seem to agree on about the current coalition air campaign in Libya is…
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Devin Dwyer and Luis Martinez report for ABC News in “Cost of Libya Intervention $600 Million for First Week, Pentagon Says,” that: One week after an international military coalition intervened in Libya, the cost to U.S. taxpayers has reached at least $600 million, according figures provided by the Pentagon. U.S. ships and submarines in…
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Jeffrey Anderson at The Weekly Standard reports that “Mandatory Spending to Exceed all Federal Revenues — 50 Years Ahead of Schedule”. We have now gotten to the point . . . where if national defense, interstate highways, national parks, homeland security, and all other discretionary programs somehow became absolutely free, we’d still have a…
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The General Accountability Office (GAO) released a new report early Tuesday morning, identifying billions of dollars currently being spent on “duplicate federal programs”. How does this happen? It’s simple, really. When a bureaucratic body fails to be efficient and accomplish the objectives of it’s charter, our enlightened, pork-loving representatives in Washington simply finance a…
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In an article at the American Spectator by Philip Klein, he reports on the new report from the Congressional Budget Office (CBO) that shows that repeal of Obamacare (“Patient Protection and Affordable Care Act”) would cut $1.4 trillion from projected federal spending over ten years. In addition, even greater cuts of $732 billion could…
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Visually explained in terms of shots of Jack Daniels in this video, here is the $1.5 trillion U.S. deficit and the absolutely feeble proposal by the Republican leadership to cut $100 billion (oops, now $74 billion). Meanwhile, Democratic Senate Majority Leader Harry Reid ludicrously called the Republican proposal “unworkable” and “even more draconian than…
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In a new article in the Christian Science Monitor, “Pentagon cuts don’t cut it. Want to really save money? Get a new security strategy”, Independent Institute Senior Fellow Charles V. Peña shows that the proposal by Obama administration Defense Secretary Robert Gates of “cuts” in spending by the Department of Defense are not cuts…
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The latest economic forecasts are now projecting that the federal budget deficit will reach a record of nearly $1.5 trillion in 2011. As the Wall Street Journal reports, this “grim outlook landed a day after President Barack Obama outlined plans to push for new spending that he said would help keep the U.S. globally…
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