Restore Fiscal Responsibility

President Obama, addressing a townhall-style crowd in Minneapolis today made the claim that “by pretty much every measure, the economy is doing better than when I first took office.” This bold assertion should raise some serious eyebrows, beyond those wondering why the president is still wasting...

After years of anemic economic growth following the largest financial crisis since the Great Depression, the economy actually shrank by almost 3 percent last quarter according to a Department of Commerce report released today. This is the largest contraction of the economy since the technical end...

Syndicated columnist Michael Barone has a piece in which he gives praise to a book that argues America, and the western welfare state model generally, is coming very close to the day in which its impossible financial obligations dramatically outweigh its ability to pay for them. The weight of our debt is seemingly only surpassed by the short-sightedness and passivity of our politicians. Barone writes: “The major problems are that democracies in America and elsewhere have been making promises they cannot keep, and they are now running out of money. Social Security and Medicare threaten to squeeze defense and other domestic spending to the lowest shares of the economy in a half-century. And government can’t do things it used to. The Pentagon, still one of the world’s largest buildings, was built in 18 months in the early 1940s. A small bridge nearby recently took four years to repair.”