Unless Congress acts, this summer the Pentagon will begin making across-the-board cuts in defense programs — cuts that will eventually be so deep that the chairman of the Joint Chiefs of Staff has said they will end the United States’s status as a global superpower. Yet there seems to be...

Senator John Thune (R-S.Dak.), chairman of the Republican Policy Committee, will discuss his recently introduced bill that would create a long-term strategy for controlling unsustainable deficits.

The Obama budget is already being ripped by Republicans as a political document and by deficit hawks for its failure to attack the debt problem vigorously enough. But in context, it is worth a brief comparison to the Romney and Santorum visions.

In December 2010, the President's Fiscal Commission failed to garner the necessary supermajority to pass its plan to reduce the deficit. Now, with the super committee, starting work on its effort to propose $1.5 trillion in deficit reductions, some have speculated that history is about to repeat itself. However, a closer examination reveals a night-and-day difference.

Congressional leaders and the President have come to agreement on a deal to increase the debt ceiling, but the drama is far from over. The debt deal kicks all the important decisions down the road and into 2013.

To shrink the near term deficits, President Obama must avoid his costly new initiatives, the most expensive of which are the tax cuts and income transfers to low- and middle-income households.

Who could have predicted when he took office that Mr. Bush might end up looking much more like Lyndon Johnson than his own father?

Veronique de Rugy compares federal spending discipline under President Ronald Reagan to that of preceeding and succeeding presidents.