President Obama talks the talk when it comes to dealing with our national debt. But talk is cheap. Unfortunately, the president’s failed policies are not.
On September 4, 2012, the national debt eclipsed $16 trillion for the first time in the history of our nation.
According to the Department of Treasury, our nations’ debt was $16,015,769,788,215.80 on September 4.
The national debt has increased by $5.38 trillion or 51 percent since President Obama took office.
The national debt did not reach $5.3 trillion until 1997, during President Clinton’s second term. It took...
WASHINGTON, DC – House Speaker John Boehner (R-OH) released the following statement today after the United States Treasury Department announced the national debt has now surpassed $16 trillion, having increased more than $5 trillion during President Obama’s term despite promises to cut the deficit in half:
“Today’s news is another sad reminder of President Obama’s broken promise to cut the deficit in half. Instead of working in a bipartisan way to fulfill his promise, the president went on a ‘stimulus’-fueled spending binge that stuck every American man, woman, and child with a...
Democrats may think the American people are “absolutely” “better off” under their policies – but according to The Hill, “a majority of voters believe the country is worse off today” under President Obama. The unemployment rate has been higher than eight percent for 42 straight months – the longest stretch since the Great Depression. And if Democrats get their way, we’d get more of the same:
Fewer Jobs: Democrats say they’re willing to tank our economy if they don’t get a small business tax hike that economists fear and Ernst & Young...
As millions of American families hit the road this Labor Day weekend, they were met with another stark reminder of President Obama’s failed policies: record high gas prices. For the past three years, the Obama administration has thwarted common-sense GOP efforts to expand American energy at every turn, creating regulatory roadblocks to increased production and blocking off resource-rich areas for new exploration and development. As a result, gas prices have doubled on the president’s watch, making it harder for American families and small businesses to make ends...
On Wednesday, the CBO released its updated budget and economic forecast. The report shows that pending tax increases and arbitrary spending cuts would send the U.S. economy into another economic recession and drive the unemployment rate above 9 percent by the end of 2013. Only House Republicans have passed legislation to avoid this recession by stopping the tax hike and replacing the sequestration with common-sense spending reductions. Unfortunately, President Obama and Senate Democrats have not brought forth a credible plan to avoid the next recession. House Republicans have urged...
According to the just-released report from the Congressional Budget Office (CBO), the nation would plunge into a “deep recession” if it goes over the fiscal cliff on January 1 – a scenario Democrats have welcomed in their push for higher taxes on small businesses:
“Democrats willing to risk tax hikes for all. … Democrats are going all-in in a fiscal game of chicken, saying they'll let everyone's income taxes rise on Jan. 1 and slash defense spending amid 8-plus percent unemployment…” (Associated Press, 7/17/12)
“Congressional Democratic leaders made clear...
Washington, D.C. – House Republican Policy Committee Chairman Tom Price, M.D. (R-GA) issued the following statement after the Congressional Budget Office (CBO) released an update to its Budget and Economic Outlook. CBO estimates a $1.1 trillion deficit for Fiscal Year 2012 as well as weak economic growth and high unemployment in the future.
“Today’s report by the Congressional Budget Office is a clear reflection of President Obama’s failure to lead this nation, to keep his promises, and to implement policies that promote growth and opportunity,” said Chairman Price. “After the...
For 42 straight months, the unemployment rate in America has been at or above 8 percent.
Millions of families are struggling. America’s small businesses — which create the majority of jobs in America — lack the confidence and certainty needed to invest, grow, and hire.
In the presence of this dismal economic recovery, amazingly, there is an ongoing debate about whether or not the nation should be forced to endure a massive tax increase on Jan. 1, 2013.
If no action is taken, marginal tax rates on families and small businesses will rise in the new year. Rates on investment and dividend...
Medicare – a vital lifeline for millions of America’s seniors – is on a path to insolvency. House Republicans have put forth a positive plan to save and strengthen the program that makes no changes for those in or near retirement age while ensuring future generations have greater health care choices. This positive message of reform that we are taking to the American people stands in stark contrast to President Obama’s health care law which raids Medicare to pay for a new health care program.
On July 24, 2012, the Congressional Budget Office and the Joint Committee on Taxation...