Professor of Economics Walter E. Williams wrote this column appearing August 25, 2010 on Townhall.com.

My column titled “What Handouts to Cut?” created a number of angry responses, and for the first time in my life, I had some, not much, sympathy for political cowardice. Most letters were from senior citizens angered by my suggestion that they were receiving handouts and those handouts be cut.

Federal tax receipts for 2009 totaled $2.1 trillion. The largest items in the federal budget were Social Security ($710 billion), national defense ($689 billion), Medicare ($456 billion) and Medicaid ($327 billion). The primary recipients of federal […]

ACRU General Counsel Peter Ferrara wrote this column appearing August 16, 2010 on The American Spectator.

President Obama’s budget proposes all-time record federal spending of $3.834 trillion for fiscal 2011, up 29 percent from fiscal 2008 and 40 percent from fiscal 2007, which was the last budget adopted by Republican congressional majorities. The deficit for the current fiscal year 2010 is estimated in the president’s own budget documents to reach nearly $1.6 trillion, the largest government deficit in world history, up from $161 billion for fiscal 2007. This is what moved Rep. Jeb Hensarling (R-TX) to say to President Obama at the Republican Retreat in Baltimore […]

Professor of Economics Walter E. Williams wrote this column appearing August 11, 2010 on Townhall.com.

Because of failure to heed the limitations of the U.S. Constitution, which has produced runaway federal spending, our nation sits on the precipice of disaster. Former Senator Alan Simpson of Wyoming and Erskine Bowles, White House chief of staff under President Bill Clinton, co-chairmen of President Obama’s debt and deficit commission, in a Washington Post article “Obama’s Debt Commission Warns of Fiscal ‘Cancer'” (July 12, 2010) said that “(A)t present, federal revenue is fully consumed by three programs: Social Security, Medicare and Medicaid. The rest of the […]