NRD Editor’s Note: After submission of this Op-Ed to the Washington Examiner, further details of the Cut, Cap and Balance legislation that will come to the floor were made available. The immediate cuts are approximately $111 billion for fiscal year 2012, and not hundreds of billions as stated int he below Op-Ed. By Bill Wilson - Standard & Poor’s issued a [...]

By Rebekah Rast – There is now no refuting that President Obama’s “stimulus” act was a failure. On July 1, the president’s Council of Economic Advisers released The Economic Impact of the American Recovery and Reinvestment Act of 2009, Seventh Quarterly Report.  The report made clear that the only real growth and impact of the president’s stimulus package was on [...]

By Bill Wilson – On July 22, the Congressional Budget Office’s (CBO) issued its latest long-term projections on the growth of the national debt.  Astonishingly, as bad as the numbers issued by the CBO were, the debt crisis the nation faces is even worse than we are being told. The CBO analysis does not take into account the full $14.344 [...]

By Bill Wilson – Everyone tends to pull a punch now and again, even here at Americans for Limited Government.  Things go unsaid, but sometimes they must be said.  Today is one of those days. The beauty of a recent piece by Euro Pacific Capital CEO Peter Schiff, “End Game,” is that it pulls no punches.  In it, Schiff says [...]

By Robert Romano – The national debate over the debt ceiling has been compared to a high stakes game of “chicken”. Everyone is familiar with the game, where two drivers speed headlong at one another. The one who doesn’t swerve “wins,” while the one who does is the “coward”. So it is with the debate over increasing the $14.294 trillion [...]

Standard & Poor’s downgraded the outlook of the United States to negative today: “Because the U.S. has, relative to its ‘AAA’ peers, what we consider to be very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable,” the [...]

By Robert Romano – In February, when he presented his budget for the 2012 fiscal year, Barack Obama called for an “adult conversation” on the nation’s finances. Everyone laughed. His was a budget that would add on average $1.08 trillion to the national debt every single year until 2021, when it would total $26.3 trillion. Perhaps it was fitting, then, [...]

Americans for Limited Government President Bill Wilson praised House Budget Committee Chairman Paul Ryan’s proposal to rein in so-called “mandatory” entitlement in the 2012 budget by “more than $4 trillion”: “Budget Chairman Ryan’s proposal to rein in so-called ‘mandatory’ spending by ‘more than $4 trillion’ in the 2012 budget is one that all Americans can understand. This is a savings [...]

By Rebekah Rast – Entitlement programs, also known as mandatory spending, account for two-thirds of the federal budget. This current fiscal year, mandatory spending exceeds total federal receipts. In hard numbers, mandatory spending is estimated to cost this country $2.194 trillion this year alone, according to the Office of Management and Budget, whereas total government revenues for fiscal year 2011 [...]

By Robert Romano – Once again, Congress has passed a short-term continuing resolution, this time with $6 billion of cuts over three weeks, which would bring the total of cuts passed this year to $10 billion. The reason for the stop-gap measure is because Harry Reid’s Senate has not passed the House-passed measure that funds the government through the end [...]