Reduce Government Spending and Debt

Over the last ten years, the federal government has spent at a higher level than it ever has in American history. In fiscal year 2015, the federal government spent a total of nearly $3.7 trillion or almost $30,000 per U.S. household. The current rise in federal spending has resulted in over $19 trillion in total national debt. Federal debt held by the public is now equivalent to 74 percent of the entire U.S. economy.

Excessive federal debt threatens to slow economic growth, raise interest rates, increase inflation, discourage private investment, limit access to capital, undermine the global competitiveness of U.S. business, and eventually cause a financial crisis that could destroy our economy for years.

Briefs

Reduce Government Spending and Debt

Background: Over the last ten years, the federal government has spent at a higher level than it ever has in American history. In fiscal year…

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Blog posts

Who Wins and Who Loses Under These 8 Big Government Policies

By Patrick Tyrrell, research coordinator in The Heritage Foundation’s Center for Data Analysis It’s clear that many big government policies are creating winners and losers…

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Congress Should Resist Cotton Cronyism in Upcoming Spending Measures

By Daren Bakst, Heritage  Foundation Research Fellow in Agricultural Policy This week, Congress returns to Washington to address government funding. Unfortunately, two costly corporate welfare programs…

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It’s Time For The Fed To Shrink Its Balance Sheet

By Norbert Michel, Heritage Foundation Financial Regulations Expert A new debate is heating up over whether the Federal Reserve should continue holding on to all…

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How to Convince Your Friends That Earmarks Have No Place in Congress

By Beverly Hallberg, President of District Media Group The Bridge to Nowhere is baaaaaaacccck. Well, it might soon be if some House Republicans have their…

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Grave Digging in Iceland, Tofu in Convenience Stores: Your Tax Dollars at Work

By Rachel del Guidice The national debt is expected to hit $20 trillion early next year. Sen. James Lankford has a few ideas to start…

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Return of Earmarks Would Boost the Ruling Class

By Mike Needham, CEO of Heritage Action for America Banning congressional earmarks was one of the signature accomplishments of House Republicans over the last several…

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House GOP Weighs Proposal to Bring Back Earmarks

By Rob Bluey, Editor in Chief of The Daily Signal One week after Donald Trump won the presidency on a promise to “drain the swamp”…

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Tone Deaf White House Attacks Non-Compete Agreements for Lack of Economic Growth

The Obama administration recently called on state governments to ban non-compete agreements between employers and their workers in an effort to encourage competition, worker mobility,…

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Obama’s 6 Biggest Domestic Policy Blunders

https://www.youtube.com/watch?v=8MwheHhoPpA After almost eight years in power, it’s a good time to ask: What has the Obama administration wrought? Watch this video by the Daily…

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The Government Just Spent $168 Billion More Than the Year Before

By Romina Boccia, Research Fellow on federal spending and debt at the Heritage Foundation New numbers on federal spending are in from the Congressional Budget Office,…

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Congress Considers Higher Spending Levels Even as National Debt Nears $20 Trillion

On September 30th, the federal government will run out of discretionary funding unless Congress takes action. Currently, all signs point to Congress passing a continuing…

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Fight over Corporate Welfare Bank Continues

Debate over the little known Export-Import Bank is heating up once again. Opposition to this bank has increased over the past few years as conservative…

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Federal Government Spends $25 million on Climate Change Project in the Philippines

Earlier this month, the Chairman of the Subcommittee on Federal Spending Oversight, Senator Rand Paul (R-KY), unveiled his latest edition of “The Waste Report.” The…

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Senators Identify Key Problems with Current Tax Code

Tuesday morning, the Senate Committee on Finance held a hearing entitled “Navigating Business Tax Reform” chaired by Senator Orrin Hatch (R-UT). Witnesses at the hearing…

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