Can America afford an empire?

Foundation for Economic Education
by Sheldon Richman


[I]f the deficit is to be eliminated it will have to be through dramatic budget cutting. In the current fiscal year the federal government is planning to spend $3.55 trillion. Among the largest categories of spending are Social Security (19.63 percent); unemployment/welfare/other ‘mandatory’ spending (16.13 percent); Medicare (12.79 percent); Medicaid and the State Children’s Health Insurance Program (8.19 percent); and interest on the national debt (4.63 percent). Of course I’ve left out a category, but it’s one often ignored by deficit hawks: the Department of Defense...

Informant: Thomas L. Knapp


Fix the Economy?

By Mike Whitney

Fearmongering about the deficits is a political calculation to win elections and strangle popular social programs. It has no economic value.

US Deficit Reduction Painful, Commission Chiefs Warn

Eliminating mortgage interest deduction being considered

By Donna Smith

Restoring U.S. fiscal balance is going to be a painful process that mostly requires spending cuts, but also some tax increases, the leaders of President Barack Obama's deficit commission said on Wednesday.

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