Our resources section is meant to be just that, a place where you can come to find news and information related to the current economic situation as well as the decisions being made by our leaders in Washington. As deficits spiral out of control and our children's future is mortgaged, you can count on StopSpendingOurFuture.org as a place to keep up-to-date on the latest information.
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President Obama has requested $100 million dollars in budget cuts. But hold on. What does that really mean? This chart really puts the size, or lack thereof, of this reduction into perspective. Harvard University economics professor Greg Mankiw likens this to a family with a budget of $100,000 going $34,000 over budget responding by reducing spending by...three dollars. |
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Contrary to popular belief and to the statements of President Obama, there was hardly an "investment deficit" by the government over the last 8 years. Obama is merely doubling down on Bush's expansive spending programs across the board, including the budget, bailouts, and public debt. Is this change, or just more of the same?
Click here for more. |
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Forbes' Brian Wesbury and Robert Stein remind us that government doesn't create, it destroys. "[...] all of this is just a pipe dream. Government spending does not cause a net increase in jobs over the long run; it costs jobs. Every dollar the government spends is either taxed or borrowed from the private sector, which means it "crowds out" private sector job creation. And because government spending is less efficient than private sector spending, the economy actually grows more slowly in the long run as the government gets bigger." |
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Bloomberg reports on the CBO's analysis that the deficit will exceed the Obama Administration's predictions by $100 billion. "Between 2010 and 2019, CBO said, the government’s deficits will total $9.27 trillion, about $2.3 trillion more than the administration forecast." |
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Two scholars question the logic behind burdening taxpayers with higher taxes and spending away their money as hundreds of thousands of jobs continue to be shed each month. |
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