BUSINESS
By COX NEWS SERVICE | January 23, 2004
WASHINGTON - The head of Congress' auditing arm warned yesterday that "imprudent and unsustainable" federal borrowing is driving the nation toward a fiscal crisis. The comments by David M. Walker, head of the General Accounting Office, come as a number of conservatives have begun to criticize the Bush administration and the Republican-led Congress for failing to hold the line on spending. Both branches of government are blinded by political "nearsightedness and tunnel vision" and are failing to see that government borrowing is out of control, Walker said at a breakfast meeting with reporters.
NEWS
January 9, 2007
Americans often aren't good at making choices between options for spending their money. There's stuff they must have, stuff they need, and stuff they want. If money isn't there for all of the above, they just take out the credit card. The federal government in recent years has reflected that impulse in spades, which explains both the $250 billion annual budget deficit and the $8.6 trillion national debt. Newly in charge House Democrats took two steps last week toward reversing this trend.
NEWS
By George F. Will | May 12, 1997
WASHINGTON -- When Giovanni Gio-litti, prime minister in many perishable and forgettable Italian governments between 1892 and 1921, was asked if it was difficult to govern Italy, he replied, ''Not at all, but it's useless.''Americans who feel that way about the governance of their country can point to the contours of the balanced-budget agreement, which is said to reflect healthy and historic ''compromise.''The president proposed holding domestic spending to essentially its current portion of GDP, continuing the decline of defense spending as a portion of GDP, and allowing entitlement spending to continue to grow relative to discretionary spending.
NEWS
By Mary Curtius and Mary Curtius,LOS ANGELES TIMES | March 18, 2004
WASHINGTON - The House Budget Committee approved yesterday a $2.4 trillion budget for the 2005 fiscal year and separate legislation that would impose caps on spending, in each case voting along party lines - 24 Republicans in favor and 19 Democrats opposed. The budget bill is scheduled for consideration by the full House on Wednesday. The panel's actions set the stage for what will probably be contentious negotiations between the House and the Senate, both controlled by Republicans, to reconcile differences in their 2005 budget bills.
NEWS
By KNIGHT RIDDER/TRIBUNE | December 6, 2003
WASHINGTON - President Bush came to office saying he was a fiscal conservative, but federal spending has skyrocketed on his watch. And it's not just the Pentagon that's getting more federal dollars. Overall spending is up by at least 16 percent since he took office, far more than the 2 percent average annual inflation rate over the same period. According to one recent analysis, the government spends $20,000 a year for every household in America, the most since World War II. In the meantime, the $236 billion federal surplus that Bush inherited in January 2001 has turned into a $400 billion-plus deficit.
NEWS
By GEORGE F. WILL | February 10, 1994
Washington.--The government is not destined to become svelte, but the budget the president submitted this week -- the first real Democratic budget in 13 years, which is half a generation -- illustrates a paradox that gives cold comfort to conservatives: The largest achievement of modern liberalism, the welfare state, is now the largest impediment to the liberal aspiration for energetic government.Candidate Clinton vowed that an end of ''gridlock'' between Congress and the executive branch would enable Democrats to ''reverse Reaganism.