By Robert Romano – Answering a question on America’s foreign dependence on oil from a Northern Virginia Community College student at a town hall event on April 19, Barack Obama boldly alleged , “we have actually continually increased U.S. production, so U.S. production is as high as it’s ever been.” It was a claim so false as to be laughable. In fact, in 1970, the U.S. produced 9.6 million barrels of oil a day, the most we ever produced . But today, we only produce 5.5 million a day. And while domestic […]

By Robert Romano – It’s a perfect economic storm, and the clouds that are gathering now will have grand implications for 2012. Three mortal dangers imperil the U.S. economic Ship of State — and Barack Obama’s hopes at reelection, as each of them calls into question the […]

By Robert Romano – Once again, oil and gasoline prices are on the march upwards, and conveniently, Barack Obama is waving the “speculators” card , promising to investigate nefarious investors he alleges are behind it all. With average gasoline per gallon prices nationally at over $3.80 and rising rapidly , American motorists are taking note of the increases — and are asking why they’re paying more. […]

By Robert Romano – By now, it is common knowledge that the 2011 continuing resolution negotiated by House Speaker John Boehner, which cut $38.5 billion in budget authority, will only reduce 2011 outlays by about $352 million . That is mostly because the resolution did not address about $240 billion of budgeting authorities enacted by previous Congresses that have yet to be fully spent. Only when they are will outlays begin reducing in […]

By Robert Romano – When he addressed students at George Washington University on the dire fiscal emergency facing the nation, Barack Obama attempted to lay blame for the $1.645 trillion budget deficit at the feet of tax cuts enacted in 2001 and 2003. Obama said , “we made the […]

By Robert Romano – A battle has broken out between the tea party movement and House Republicans over just what the now-enacted continuing resolution (CR) for fiscal year 2011 will achieve in real savings. Activists have been responding to AP reports that the resolution cutting $38.5 billion would only result in $352 million in actual cuts to outlays in 2011 . How can this be? The difference is […]

By Robert Romano – In February, when he presented his budget for the 2012 fiscal year, Barack Obama called for an “adult conversation” on the nation’s finances . Everyone laughed. His was a budget that would add on average $1.08 trillion to the national debt every single year until 2021, when it would […]

By Robert Romano – When the House Appropriations Committee presented its original plan for the 2011 budget continuing resolution, it only put forward about $35 billion in cuts . The proposal went over like a lead balloon with the American people, however, and Committee Chairman Hal Rodgers had to go back to the drawing board, eventually […]

By Robert Romano – The Federal Reserve is the world’s central bank. There is simply no question now. In 2008, while the financial crisis was at its peak, the Fed was lending at lightning speed to financial institutions all over the world. “The biggest borrowers from the […]

By Robert Romano – Recent reports find that General Motors (GM) is lobbying for the passage of legislation by Michigan Senator Debbie Stabenow that would turn a $7,500 electric vehicle tax credit into a rebate that will be available to all consumers at the point of sale. It’s been dubbed “Cash for Clunkers II”. Right now, the $7,500 tax credit can only be redeemed at the […]