In recent years the federal government has been able to borrow funds at historically low interest rates. What if those rates returned to their long-term levels? The cost to finance debt would rise to about $827 billion annually -- consuming... read more

We often hear that our deficit is being caused by the costs of the wars in Afghanistan and Iraq or the tax cuts from 2001 and 2003. But as the numbers show, the costs of our overseas contingencies operations and the tax cuts amount to less ... read more

On July 25, I opposed legislation which passed the Senate that would have the effect of allowing taxes to rise for millions of Americans, while ensuring that rates remain the same for many others. President Obama has said this tax increase ... read more

The federal government is currently adding more than $1 trillion in new debt ever year. For now, this debt is being financed at historically low interest rates. Once interest rates return to historic norms - approximately 3.8 percent higher... read more