By Robert Romano – AA is now Barack Obama’s scarlet letter.  He is the first President to preside over a downgrade of our full faith and credit, and it is owed to no less than Obama’s $1 trillion annual expansion of the now $14.5 trillion national debt, which will top 100 percent of the $15 trillion Gross Domestic Product in [...]

By Howard Rich – Republican leaders in Washington, D.C. have failed another crucial test of their limited government resolve.  Rather than insisting on immediate cuts, entitlement reform, caps on future spending and a balanced budget requirement during the recent debt ceiling debate, the GOP has fallen victim to yet another “sky is falling” scam.  And so instead of achieving a [...]

Yesterday, the President signed into law the Budget Control Act of 2011, which provides for a total debt ceiling increase of between $2.1 trillion-$2.4 trillion, sets ten-year caps on discretionary spending, creates a Joint Select Committee on Deficit Reduction, and requires both houses of Congress to vote on a Balanced Budget Amendment.  Below are key dates to keep in mind [...]

In a 74-26 vote, the Senate has passed the debt deal that passed the House last night. The bill now awaits Obama’s signature. Most troubling about the vote is a report from The Weekly Standard that fiscal conservatives who opposed the debt deal would be barred from serving on the join committee that will be formed to make spending cut [...]

By Bill Wilson – Tolkien called it the “day the strength of men failed” when the people of Middle Earth failed to destroy the One Ring.  So it was with the votes to increase in the debt ceiling, as the American people have received little in exchange for allowing it to keep all of its powers to borrow with abandon. [...]

As more details emerge about the debt deal that was struck between Congressional leaders and Obama last night, the more this legislation needs to be killed (via Heritage below): The “Budget Control Act of 2011″ (BCA) contains provisions for a joint committee of Congress, whose supposed job it is to make recommendations to reduce the deficit by $1.5 trillion.  But [...]

By Rick Manning – When it takes about five minutes for President Obama and Senate Majority Leader Harry Reid (D-Nev.) to sign on to a new debt deal, perhaps Republicans should look for the trapdoors. Based upon press reports, here are just four. Contrary to what the deal states, it actually guarantees a tax increase. The “deal” sets the CBO [...]

By Bill Wilson – A late deal struck by House and Senate leaders to raise the debt ceiling — with spending cuts that won’t balance the budget anytime soon, if ever — is a sad commentary on the state of affairs in Washington. There is no solution to the problem in sight. It leaves the American people short-changed; who in [...]

Barack Obama, Harry Reid, and Mitch McConnell have reached a debt deal agreement, while Boehner possible holds out. The deal would cut as little as $2 trillion over the next decade. Boehner is supposedly concerned that the deal would cut too much from the Pentagon, and is still considering whether he will support the legislation. Further trouble for the compromise [...]

Harry Reid’s debt plan is the latest debt ceiling increase legislation to die in Congress. By a vote of 173-246, the House put the kibosh on Harry Reid’s debt plan. House Majority Leader Cantor announces that the House will not have any more votes until Monday at noon.