The workers who assemble Apple iPhones make a starting wage of $3.15 per hour in the People’s Republic of China, according to The New York Times. “Apple has said the starting pay for workers at the world’s biggest iPhone factory, in Zhengzhou, China, is about $3.15 an hour,” The Times reported in a story published […]
Conservative lawmakers today expressed their dismay toward a deal forged between the House’s Republican and Democratic leaders that would replace a long-criticized formula determining the way Medicare doctors are paid. Few details have emerged about the impending $200 billion deal between House Speaker John Boehner and Minority Leader Nancy Pelosi, but conservative lawmakers are criticizing […]
The White House is refusing to confirm whether President Barack Obama followed up on his pledge to take a five percent pay cut due to sequestration last year. Obama promised last April to take a 5 percent pay cut in “solidarity” with federal employees who were furloughed as a result of the automatic budget cuts, known as […]
(CNSNews.com) – Federal Reserve Chairman Janet Yellen, referencing the Congressional Budget Office’s long-term budget projections, told the Joint Economic Committee of Congress today that under current policies the federal government’s deficits “will rise to unsustainable levels.” In the 10-year budget projections it released in April, the CBO estimated that the federal government will run $7.618 trillion […]
Members of Congress on both sides of the aisle expressed skepticism about the Bipartisan Budget Act of 2013 as details emerged Tuesday night. Watch the clip to 0:45 to see what the liberal says and then stick around until 1:34 to hear from the conservative. Appearing on CNN’s “Crossfire,” Representatives Adam Schiff (D-CA) and Tim […]
President Obama boasted last week that he had signed legislation to lift “the twin threats” to our economy of government shutdown and default. But what was done to fix the problem of growing debt that leads Washington to repeatedly raise the debt ceiling? Nothing. In fact, by Friday, the U.S. debt had rocketed past $17 […]
What if President Obama wants a default? This is, after all, a man whose starting negotiating position is that he “will not negotiate” with Congress on spending to raise the debt ceiling. This is a position unprecedented in American history since only Congress is granted the “power of the purse”. This is a man willing […]
In the ongoing debate over deficit reduction, President Obama and his colleagues in the House and Senate incessantly call for tax increases as if our budget problems persisted because of taxes being too low. If only the federal government could usurp more of taxpayers’ hard earned money, the line of thought goes, Washington could get […]
Federal budget cuts called “sequestration” are scheduled to hit in just 10 days. The sequestration cuts are not perfect—they’re a blunt instrument to cut spending, rather than a deliberative plan that sets priorities, trims entitlements, and cuts other spending. But they are law. It would be better to replace them with smarter cuts, but the […]
This week started with President Obama Monday demanding lawmakers raise the U.S.’s $16.4 trillion debt ceiling, warning Republicans not to insist on spending cuts in return. The same day, Federal Reserve Chairman Ben Bernanke advocated getting rid of the debt limit altogether. The Washington Post reports in a conversation at the University of Michigan Bernanke said the debt ceiling […]
