Today’s $1 trillion deficit would be a budget surplus of nearly $500 billion.

A 2×2 matrix to visualize good fiscal policy.

A balanced budget requirement is neither necessary nor sufficient for good fiscal policy.

Should supporters of limited government embrace additional tax relief?

What caused the deficit jump?

The numbers show that government spending is only getting worse.

Here’s what you need to know.

America’s long-run fiscal challenge is entirely driven by excessive spending growth.

The spending burden continues to grow faster than the private sector.

A private pension fund with these numbers would have been shut down a long time ago.