Some GOP leaders will work to meld the House and Senate budget resolutions during this spring recess, while most Republican members of Congress will be telling constituents that they made hard choices in order to balance the budget. Few will mention that their budget resolutions pave the way for Congress to spend $355 billion more… Read more »
Why, someday soon, middle-class taxes will have to go up.
For more than a decade the federal government has borrowed to pay for the rising cost of Medicare. Debt-financing of Medicare will increase sharply as the population over 65 doubles from 2010 to 2030 and the number of beneficiaries over 85—with the greatest medical needs—triples. The origins of debt-financed Medicare President Lyndon Johnson and congressional… Read more »
Last Friday House Majority Leader Eric Cantor sent a memo to Republican colleagues that paid homage to middle class Americans who “do the hard work of setting a budget and then figure out how to balance paying the bills.” But family budgets do not work that way. People make budgets in order to avoid spending… Read more »