Cutting Federal Spending is Imperative
A new report by Alison Fraser, Director of the Roe Institute for Economic Policy Studies, explains how federal spending has skyrocketed to $3.6 trillion in 2012, which translates to ~$30,000 in spending per household each year. Federal entitlements, dominated by Medicare, Medicaid, and Social Security, have ballooned to 62% of the budget. Defense spending has decreased from ~50% of the budget to less than 19%. The bottom line is that the debt is on track to surpass the size of the economy and will become unsustainable within a decade. Read the entire Federal Spending by the Numbers - 2012 report online.
The Second Presidential Debate Airs Tonight
Heritage policy experts will give live commentary via The Foundry blog tonight starting at 9 p.m. EST on the Debate 2012 page. Watch the debate live on that website and respond to the live stream of tweets with the hashtag #Debate2012 to add your opinion. There are 5 issues that haven't come up in the debates yet that really need to be addressed. Learn what they are in today's Morning Bell blog post.
Instapundit on Medicare
The popular blog site shared Bob Moffit's analysis of Medicare cuts this afternoon:
"GUTTING MEDICARE, OBAMACARE STYLE: An excellent new analysis by Bob Moffit at the Heritage Foundation details how the $716 billion in Medicare cuts will occur, and where all that money will go. Hint: think subsidization of the costs of health insurance for younger folks under Obamacare. Seniors, are you listening?????"
Posted at 5:03 pm on Oct. 16 by Elizabeth Price Foley