Austerity measures in Europe have been the topic of a heated and mostly confused debate in the economic world. During the May summit of the leading industrial nations at Camp David, German chancellor Angela Merkel and other European leaders pushed for continued European austerity. Keynesian critics argue that these policies destroy economic growth.

The Romney 4 percent Pentagon budget is no “spike”; it’s more like a return to normal, even very constrained military spending given the global mission of America’s armed forces.

In the run-up to this weekend's G-8 summit at Camp David, journalists have unfavorably compared European "austerity" with Barack Obama's economic policies.

The primary drivers of our growing debt burden are the “Big 3” entitlements of Social Security, Medicare and Medicaid. Yet as part of the debt ceiling deal that created sequestration when the Super Committee failed, politicians effectively fenced off nearly two-thirds of the federal budget and the main source of our over-spending. 

The same money can't be spent twice. ObamaCare tries to do precisely that, and the government will have to borrow the difference.

Under current law, the U.S. Department of Defense automatically faces significant spending cuts over the next 10 years—cuts that america's civilian and military leaders have cadidly described as "devastating" and "very high risk."

When he was director of central intelligence, Leon Panetta earned a reputation as an energetic advocate for his agency. When he replaced Robert Gates at the Pentagon, it was reasonable to hope that Panetta would continue to play the role of a senior statesman.

Medicare is facing a fiscal calamity: how can the growth of Medicare spending be limited while ensuring that beneficiaries continue to have access to affordable health care?