Budget Committee Chair Paul Ryan (R-Wis.) described his budget proposal as a "referendum" on Sunday.
On ABC's "This Week," Ryan said he was "excited about going to the country with a choice of two futures." He called the budget a "referendum," adding, "I think we need to bring this referendum to our country, and I'm looking forward to this."
Ryan has become a leader in the Republican Party on budget issues. Mitt Romney, the likely Republican presidential nominee, endorsed the "Ryan budget"(as it has been called) helping to ensure that the reform ideas contained in the budget will become the cornerstone of the Republican platform in the 2012 elections. more >>
CHINO HILLS, Calif. – Calvary Chapel movement founder Chuck Smith closed out the 2012 SoCal Prophecy Conference at Calvary Chapel Chino Hills Sunday with a message of "blessed hope" for Christians during the end times.
More than 8,000 people attended the three-day conference held at the church that included several speakers addressing the difficult objections and misconceptions associated with the end times.
Smith, 84, who is the pastor of Calvary Chapel Costa Mesa, is undergoing treatment for lung cancer. However, he had no problem delivering a strong message of hope in a fallen world. more >>
President Barack Obama submitted his annual budget blueprint to Congress Monday. The 10-year plan anticipates a budget deficit of over $1.3 trillion dollars for the current fiscal year and $901 billion for FY 2013. The Concord Coalition argues the budget falls short of what is required for fiscal stability.
Overall government spending increases almost $200 billion dollars in 2012, then ticks up only slightly, $7 billion, in 2013. By 2022, Obama's budget would anticipate government spending to be 22.8 percent of GDP and the deficit, at $704 billion, to be 2.8 percent of GDP. In 2011, the deficit was $1.3 trillion and 8.7 percent of GDP.
"This plan appears to be something of a Rorschach test, with even non-partisan analysts emphasizing different elements and drawing different conclusions. Interpreting Obama's budget depends a lot on which proposals and projections you emphasize," Robert Bixby, executive director of The Concord Coalition, said in a Monday statement. more >>
The U.S. national debt, now more than $15.23 trillion, has surpassed the amount of economic output in a single year.
The gross domestic product (GDP), the value of all goods and services produced in the United States, for all of 2010 was likely around $15.3 trillion. The last time the national debt surpassed the GDP was for three years during and after World War II.
Diane Lim Rogers, chief economist for The Concord Coalition, a non-partisan organization advocating responsible fiscal policy, said, in an email to The Christian Post, that the milestone should be understood in proper context. The important numbers to look at are the net debt and the growth of that debt relative to GDP. more >>
The Republican-led House of Representatives on Tuesday rejected the Senate's two-month extension of the payroll tax cut.
No Democrats joined the 229 Republicans voting in favor of rejecting the Senate bill. Seven Republicans joined 186 Democrats in opposing the measure.
The wrangling places an extension of the payroll tax cut in doubt as President Obama, Senate Democrats and House Republicans attempt to position themselves favorably in the minds of voters ahead of the November 2012 elections. more >>
Rep. Paul Ryan (R-Wis.) and Sen. Ron Wyden (D-Ore.) announced Thursday a bipartisan reform plan for Medicare. The plan would give seniors the option to receive a voucher to enter the private healthcare market, but Medicare would remain an option as well.
“Before the partisan attacks begin to escalate and the 2012 election ads start to air, we are outlining a plan for how Democrats and Republicans can work together to ensure that American retirees – now and forever – have quality, affordable health insurance,” Ryan and Wyden wrote in their 12-page report introducing the plan.
Under the plan, beginning in 2022, seniors would have the option to enroll in Medicare or receive “premium support” to purchase insurance through a Medicare-approved private plan. more >>