Economy & Small Business

In households across the United States, many families already understand that getting out of debt and staying out of debt requires a budget. Like the countless families who recognize the importance of setting spending limits and living within their means, Republicans have long agreed that the federal government should follow the same example.

During a quick glance of the news, it’s impossible to ignore the mounting crises overseas, like the dangerous uprising of terrorists groups in the Middle East and mobilization of pro-Russia rebels in Ukraine. While these worldwide crises are currently in the forefront and rightly viewed as urgent threats to our nation’s security, the sometimes overlooked yet increasingly dangerous threat to our nation’s future prosperity and security is living in the form of our exploding national debt.

Science Magazine - Jeffrey Mervis

Washington Post - Steven Mufson, Juliet Eilperin and David Nakamura

President Obama will present a federal budget proposal on Monday that would exceed restrictive spending caps mandated by Congress four years ago and propose new capital gains and bank taxes, an effort that will likely get bogged down in congressional opposition to taxes and big budget deficits.