“Government debt” on The Daily Caller

I was always told that parents want their children to have better lives than they have, that each generation will strive to make things better for the generation that follows. But as our politicians in Washington debate spending cuts, the debt limit, and whether there will be a government shutdown this week, I’m starting to see something very different: that our elders are instead passing off their debt to us, and ensuring we won’t have any future at all. And nobody in my generation seems to care. (more)

Last year, I threw my hat in the ring as a candidate for U.S. Senate in Colorado. I decided to run primarily out of anguish for the direction our country was headed. All of us watched as spending increased, government grew and American families and businesses struggled to keep their heads above water. Now, almost two years later, I’m afraid things aren’t much different. While on the campaign trail, I often spoke with activists, small business owners, and hard-working families about Washington’s out-of-control spending. I heard from folks who, even in a tough economy, make it a priority to live within their means and balance their budgets. Folks like us who pay our bills on time. (more)

With the release of House Budget Committee Chairman Paul Ryan’s (R-WI) proposed 2012 budget, Washington is abuzz with support, attacks, praise and ridicule. Above it all, however, is the fiscal disaster that Ryan is trying to avoid with his proposal. As Ed Morrissey noted in a recent presentation at The Heritage Foundation, everyone in Washington knows that entitlements need fixing and fast — they simply choose to ignore it, or they did until Ryan’s budget came out. (more)

There is a secret entitlement program that the Obama administration does not want to talk about. This entitlement program does not help those on Medicare or Medicaid, and it is not part of the Social Security system. This entitlement program has one function: paying interest to foreign governments that bankroll our ever-growing $14 trillion national debt. (more)

The other day, Washington Post columnist E.J. Dionne wrote a column in which he posed the question, “What if we’re not broke?” Dionne concluded that we’re not actually broke and that “a phony metaphor [the idea that we’re broke] is being used to hijack the nation’s political conversation and skew public policies to benefit better-off Americans and hurt most others.” (more)

Under current projections, the U.S. Treasury will hit its statutory debt ceiling before summer. This provides the chance for newly elected Tea Party-backed legislators to show they are serious about rolling back Obama’s agenda. The only method to force politicians to make tough budget cuts is to take away the credit card. Congress should refuse to raise the Treasury’s debt ceiling. (more)

Lower property values, foreclosures, and decreased aid from cash-strapped states are adding up to a tough 2011 for many U.S. towns and cities — perhaps the worst since the Great Depression. (more)

What happens if Congress does not rein in the record $14.2 trillion national debt? (more)

In the coming weeks, Congress will consider legislation to raise the debt ceiling. In fact, to actually call it a debt “ceiling” is one of the biggest frauds in the American political lexicon. As our government continues to spend without paying for it, our irresponsible $14 trillion national debt continues to explode, and the debt ceiling moves right along with it. There has got to be a way to force Congress to rein in the debt and be more careful with taxpayers’ money. (more)

The federal government posted its largest monthly deficit in history in February at $223 billion, according to preliminary numbers the Congressional Budget Office released Monday morning. (more)

There’s a term used to describe the situation where a debtor repays a debt through labor. It’s what’s known as debt bondage, and it’s an ugly scenario that involves work for little pay and a devaluation of labor and skill. It’s conceptually similar to indentured servitude, an idea that makes modern Americans cringe. (more)

In our home, conversations about the family budget take place around the kitchen table. It’s a little bit small for a battlefield, but talking about income and spending still can be, well, tense at times. (more)

Just a few weeks ago, President Barack Obama delivered the annual State of the Union address before a joint session of Congress, complete with the usual pomp and pageantry we’ve come to expect. With the nation watching, he delicately walked a fine line, trying not to offend anyone and please everyone. This, too, has become a tradition of sorts. (more)

President Obama’s FY-2012 budget shows a failure of leadership by a man who claimed that he would change the way Washington works. Red ink continues to be spilled at record rates with no end in sight and yet President Obama continues to ignore the 800-pound gorilla in the room — our climbing $14 trillion national debt. (more)

House Budget Chairman Paul Ryan dubbed President Obama’s budget “debt on arrival,” in the first Republican response to the $3.7 trillion plan released by the White House Monday, adding “it would be better if we did nothing than if we passed this budget.” (more)

Sen. Rand Paul, Kentucky Republican, called for cuts to the Department of Defense budget and entitlement reform in his Thursday afternoon speech at the Conservative Political Action Conference (CPAC). (more)

As we celebrate the 100th birthday of President Ronald Reagan, those who knew and admired him remember his consistent optimism. Reagan was no Pollyanna, but he saw that the best days of our country lay ahead of us. (more)

Ever dreamed of frolicking around Sherwood Forest like Robin Hood and his Merry Men? Well, pack your sword and green tights, because you can now own a portion of folklore’s most iconic landscape. The British government is selling areas of the woods to cover their massive national debt, reports The Los Angeles Times.  Locals are furious at the thought of developers or corporations invading their beloved forest, but the offer remains amidst their objection. As several European nations struggle to balance the books, other iconic, government-owned properties are also facing the auction block. (more)

Sen. Pat Toomey introduced a bill Tuesday aimed at laying out a path for the federal government to avoid default on its obligations if the debt limit is not raised in the coming months. (more)

Sen. Mark Warner, a centrist Democrat from Virginia, said Monday that he will be looking for more than just a focus on growth and innovation in President Obama’s State of the Union address on Tuesday night. (more)