The Mexican government’s war with international drug cartels has been spilling over into the United States at an alarming rate. Just yesterday the Los Angeles Times reported that Phoenix has become a “kidnap-for-ransom capital.” Today at noon, The Heritage Foundation will host a panel titled: The Fire Next Door: Mexico’s Drug Cartel Crisis and What the U.S. Should Do About It. Speakers include: General Barry R. McCaffrey (ret.) President, BR McCaffrey Associates LLC Stephen Johnson Former Deputy Assistant Secretary of Defense for the Western Hemisphere, Office of the Secretary of …
“Seinfeld” had characters that included a high-talker and a low-talker, but the U.S. Congress had them beat with a bevy of fast-talkers today It was obvious to everyone watching CSPAN that the Representatives were talking much faster than normal. They were talking so fast that their tongues often got tangled! It’s because the bloated stimulus bill is being rushed through so quickly, with only one hour to debate the rule (the parliamentary device to allow action on the bill), plus 90 minutes to debate the actual measure. 150 minutes total, …
Today, Senator Frank Lautenberg (D-NJ) predicted that his Senate colleagues would not “have the chance” to read the now 1,000+ page “stimulus bill” before they voted on it. He told CNSNews.com; “No, I don’t think anyone will have the chance to [read the entire bill].” CNSNews went on to report that they could not find one single Member of Congress that had read the latest bill, which contains hand-written changes in the bill page’s. The new bill was delivered to Members at 11:00 pm last night. According to the New …
The Financial Times makes a valiant effort to curb wild talk about China dumping U.S. Treasury bonds. Luo Ping of the China Bank Regulatory Commission may use strong language – “we hate you guys” — but he has a better grip on the PRC’s options than much of the American press or, for that matter, Chinese Premier Wen Jiabao. Luo makes explicit that the size of China’s trade surplus with the U.S. and the balance of payments system Beijing has staunchly defended leave it no choice but to buy treasuries. …
A little while ago, Vice President Joe Biden had the audacity to say, “Every economist, as I’ve said, from conservative to liberal, acknowledges that direct government spending on a direct program now is the best way to infuse economic growth and create jobs.” Well, the McClatchy wire carried this headline today: “Will the stimulus actually stimulate? Economists say no.” From the story: “I think (doing) nothing would have been better,” said Ed Yardeni, an investment analyst who’s usually an optimist, in an interview with McClatchy. He argued that the plan fails to provide …
Hardly any Washington policymaker is worrying about inflation right now. Who blames them? The economy continues to contract; prices are falling, not rising; and, President Barack Obama speaks about years, not months, before things are better. Inflation seems about as remote right now as, well, a good return on your stock investments. This inattention to future inflation is unfortunate: there are mounting signs that the big bugaboo of the 1970s might be ready for a return visit. No, I’m not seeing rising prices; but I am seeing the foundations of …
Congressional conferees reportedly stripped the $50 billion energy loan guarantee authorization from the final version of the stimulus package. Although most emissions-free sources would have been eligible for the program, removing it disproportionately affects large capital projects like nuclear energy. While this is viewed as a set-back from many in the nuclear industry, it could be used as an opportunity to address some of the structural problems that create the risk that loan guarantees are meant to off-set. The reality is that the federal government’s schizophrenic association with commercial nuclear …
While campaigning for passage of his economic stimulus plan at the Caterpillar, Inc. plant in East Peoria, Illinois, yesterday President Barack Obama again claimed that “if Congress passes our plan, this company will be able to rehire some of the folks who were just laid off.” But after the President had hopped back in his motorcade, ABC News asked Caterpillar CEO Jim Owens if what the President said was true: “I think realistically no. The truth is we’re going to have more layoffs before we start hiring again.” Owens is …
This afternoon Senator James Inhofe (R-OK) and Representative Trent Franks (R-AZ) introduced a joint resolution to maintain defense spending at 4 percent of our nation’s GDP. Heritage Distinguished Fellow and former Senator from Missouri, Jim Talent, commented that the legislation was “vital for America. There is a huge shortfall between what the military is spending and what it needs to spend.” This legislation, of course, comes in light of last month’s troubling announcement that the Office of Management and Budget, under the guidance of President Barack Obama, has requested that …
Today, Sen. Judd Gregg (R-NH) stood up for all Americans — and yes all conservatives — who value limited government and transparent leadership. In withdrawing his name from consideration for Secretary of Commerce, he chose principle over career. In Senator Gregg’s released statement, he said: “It has become apparent during this process that this will not work for me as I have found that on issues such as the stimulus package and the Census there are irresolvable conflicts for me. Prior to accepting this post, we had discussed these and …
