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.

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."

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

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?

What did the Joint Select Committee on Deficit Reduction’s announcement on November 23 contain: a successful bipartisan strategy for reducing the deficit or a disheartening lack of consensus? On the heels of the announcement, Senator Rob Portman (R-OH), one of the 12 members of the committee, speaks at  AEI to discuss the details and implications of the super committee’s decisions.

A system that lets participants choose between the traditional system and a lower-cost settlement paid in inflation-adjusted Treasuries could ensure the program's solvency.