Since 2002, the United States has given the government of Pakistan a staggering $22 billion in foreign aid. This year alone, Pakistan is scheduled to receive more than $2.4 billion in U.S. foreign aid, on top of additional funds for reimbursements for Pakistani expenditures related to fighting terrorism in the region.
The pension program for members of Congress may not be as generous as many public pensions, and it may amount to a mere drop in the bucket in terms of total federal spending, but Rep. Mike Coffman insists its very existence undermines congressional credibility in addressing retirement programs that truly are a threat to national solvency.
I served my country in both the U.S. Army and in the Marine Corps. From the beginning of my military career, I was taught that the fundamental tenets of leadership are to lead by example and to never ask others to do anything that you would be unwilling to do. Today, our nation is mired in debt and we in Congress have to make tough decisions to find a way out of this crisis. This will involve asking the American people to make sacrifices related to their reliance on a government that has grown much larger than our economy will ever be able to support.
Small businesses were responsible for creating more than 60 percent of all net new jobs in the United States during the last 15 years and provided 55 percent of all jobs in the private sector.But for entrepreneurs looking to start or expand a business, one of the most important things they need is financing. Unfortunately, banks aren’t fulfilling their obligations to assist the economic recovery. Therefore, small business transactions, expansions and investment aren’t occurring.
Congress is facing extraordinary pressures to reduce the deficit, and there is not an area of government spending that should be immune from budget cuts, including the Department of Defense.
The Medicare Board of Trustees conservatively places 2024 as the date when the Medicare trust fund will run out of money. Simply put, Medicare is going bankrupt, and the longer Congress and the president kick the proverbial can down the road, the more difficult it will be to save and preserve the program for future generations of deserving seniors.
Recently I introduced the Facilitating American Security Through Energy Resources Act (FASTER). I did this in light of the recent announcement by the Obama Administration to tap the Strategic Petroleum Reserve for 30 million barrels in an attempt to temporarily alleviate rising energy prices, particularly high gasoline prices. The United States started the petroleum reserve in 1975 after oil supplies were cut off during the 1973-1974 oil embargo to provide a buffer against a “significant” supply disruption. The president claims this is necessary due to the disruption in supply from the fighting in Libya and unrest in other parts of the Middle East and not for the political purpose of tamping down rising gas prices during the summer driving season.
Some of the constituents of the 6th Congressional District associate my background mostly with the military prior to my election to Congress, so they might wonder what I’m doing as a subcommittee chairman for the Small Business Committee in the United States House of Representatives and why I’m so passionate about small business.
Last month, I went to China as part of a U.S. China Working Group with four other members of Congress. The trip was funded by the National Committee on United States-China Relations, a foundation whose mission is to promote better relations between the United States and China.
Last August, Adm. Michael Mullen, chairman of the Joint Chiefs of Staff, said, "The single biggest threat to our national security is our debt."
When the admiral said that, our national debt was $13.3 trillion. Today it is $14.3 trillion. The threat keeps growing.
Although you might not have heard of rare earths — the common name for 17 obscure but valuable chemical elements — you most likely own a consumer product that contains them.
In case you haven’t figured it out on your own, let me report to you straight from Washington, D.C.: this country’s finances are a mess.