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Stabilize our Debt?
President Obama has said that implementing the 'Buffett Rule' would "stabilize our debt and deficits for the next decade." Looking at the numbers, it's clear that such a rule would do little to reduce our growing deficits - deficits that have exploded during the Obama administration. -
Entitlement Spending Compared to Long-term Federal Revenue Generation
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Is This the Time for a Tax Increase?
In the past, President Obama has foresworn tax increases out of concern for harming a fragile recovery. Our recovery is no better now than it was at those times. -
Historic interest rates
The federal government is currently adding more than $1 trillion in new debt ever year. For now, this debt is being financed at historically low interest rates. Once interest rates return to historic norms - approximately 3.8 percent higher than they have been during the Obama administration - the cost of adding debt will climb dramatically. Congress will need to cut spending or raise taxes to finance this increased borrowing cost. -
Increased costs for Obamacare
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The Growth of Automatic Spending
One challenge that Congress faces is that 64 percent of all federal spending is currently on 'automatic pilot.' Only about 36 percent of all spending is appropriated each year. That percentage is set to decline. By 2022, only about one-quarter of the federal budget will be appropriated annually. -
Spending and Deficits
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What Budget Cuts?
Rather than reducing the size of the federal government, Congress is debating how much more government should grow. -
Federal Spending Continues to Grow
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Government Consumes a Greater Share of Our Economy
Changes to Senate rules have made it easier for government to grow - and it has grown. The federal government expanded from two percent of Gross Domestic Product in 1903 to a peacetime high of twenty-five percent in 2009. -
Federal Spending as a Percentage of GDP
Prior to 1917, the Senate was a body of unlimited debate, designed to check and limit the growth of government. In 1917 however, the Senate adopted a cloture rule that allowed two-thirds of the Senate to vote to end debate. For the first time, a determined majority could force a vote over the objections of a minority. Since then, the Senate has made it even easier to halt debate. In 1975, the threshhold was changed from two-thirds of the Senate to just three-fifths. -
A Permanent Deficit?
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Unemployment Prediction & Unemployment Reality
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Unemployment in the 1930s
Unemployment began rising after Roosevelt was re-elected. -
Falling Incomes
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Defense Spending Over Time
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Gross Federal Debt through 2025
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The Broken Health Care Promise
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Obamacare 2010-2019
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Obamacare 2013-2022
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Obamacare 2016-2025
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Social Security Deficit
Dispelling Myths
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Stabilize our Debt?
President Obama has said that implementing the 'Buffett Rule' would "stabilize our debt and deficits for the next decade." Looking at the numbers, it's clear that such a rule would do little to reduce our growing deficits - deficits that have exploded during the Obama administration. -
Spending and Deficits
-
What Budget Cuts?
Rather than reducing the size of the federal government, Congress is debating how much more government should grow. -
Federal Spending Continues to Grow
-
Unemployment in the 1930s
Unemployment began rising after Roosevelt was re-elected. -
A Permanent Deficit?
-
Unemployment Prediction & Unemployment Reality
-
Defense Spending Over Time
-
Gross Federal Debt through 2025
-
The Broken Health Care Promise
-
Social Security Deficit
The Looming Fiscal Crisis
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What Budget Cuts?
Rather than reducing the size of the federal government, Congress is debating how much more government should grow. -
Federal Spending Continues to Grow
-
Historic interest rates
The federal government is currently adding more than $1 trillion in new debt ever year. For now, this debt is being financed at historically low interest rates. Once interest rates return to historic norms - approximately 3.8 percent higher than they have been during the Obama administration - the cost of adding debt will climb dramatically. Congress will need to cut spending or raise taxes to finance this increased borrowing cost. -
Government Consumes a Greater Share of Our Economy
Changes to Senate rules have made it easier for government to grow - and it has grown. The federal government expanded from two percent of Gross Domestic Product in 1903 to a peacetime high of twenty-five percent in 2009. -
Federal Spending as a Percentage of GDP
Prior to 1917, the Senate was a body of unlimited debate, designed to check and limit the growth of government. In 1917 however, the Senate adopted a cloture rule that allowed two-thirds of the Senate to vote to end debate. For the first time, a determined majority could force a vote over the objections of a minority. Since then, the Senate has made it even easier to halt debate. In 1975, the threshhold was changed from two-thirds of the Senate to just three-fifths. -
Is This the Time for a Tax Increase?
In the past, President Obama has foresworn tax increases out of concern for harming a fragile recovery. Our recovery is no better now than it was at those times. -
Gross Federal Debt through 2025
-
Social Security Deficit
Spending
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Spending and Deficits
-
What Budget Cuts?
Rather than reducing the size of the federal government, Congress is debating how much more government should grow. -
Federal Spending Continues to Grow
-
Federal Spending as a Percentage of GDP
Prior to 1917, the Senate was a body of unlimited debate, designed to check and limit the growth of government. In 1917 however, the Senate adopted a cloture rule that allowed two-thirds of the Senate to vote to end debate. For the first time, a determined majority could force a vote over the objections of a minority. Since then, the Senate has made it even easier to halt debate. In 1975, the threshhold was changed from two-thirds of the Senate to just three-fifths. -
Government Consumes a Greater Share of Our Economy
Changes to Senate rules have made it easier for government to grow - and it has grown. The federal government expanded from two percent of Gross Domestic Product in 1903 to a peacetime high of twenty-five percent in 2009. -
Defense Spending Over Time
-
Gross Federal Debt through 2025
Broken Promises
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Broken Promises on Premiums
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Unemployment Prediction & Unemployment Reality
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Falling Incomes
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Gross Federal Debt through 2025
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Social Security Deficit
Obamacare
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Increased costs for Obamacare
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The Broken Health Care Promise
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Obamacare 2010-2019
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Obamacare 2013-2022
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Obamacare 2016-2025
Mandatory Spending
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Entitlement Spending Compared to Long-term Federal Revenue Generation
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The Growth of Automatic Spending
One challenge that Congress faces is that 64 percent of all federal spending is currently on 'automatic pilot.' Only about 36 percent of all spending is appropriated each year. That percentage is set to decline. By 2022, only about one-quarter of the federal budget will be appropriated annually. -
Social Security Deficit
Taxation
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Stabilize our Debt?
President Obama has said that implementing the 'Buffett Rule' would "stabilize our debt and deficits for the next decade." Looking at the numbers, it's clear that such a rule would do little to reduce our growing deficits - deficits that have exploded during the Obama administration. -
Is This the Time for a Tax Increase?
In the past, President Obama has foresworn tax increases out of concern for harming a fragile recovery. Our recovery is no better now than it was at those times.