Today’s New York Times op-ed page features two columns on the dollar and the Chinese currency, the RMB. Nouriel Roubini concentrates on American policy. Victor Gao gives a somewhat depressing lesson in personal Chinese economic history. It’s a better discussion than standard claims the PRC is trying to ruin the dollar. Gao correctly suggests that, cheap talk aside, China is a primary supporter of the dollar. As Roubini points out, it’s the U.S. that’s ruining the dollar. There’s no official figure on this, which is important, but Gao puts the …
For some time now, it’s been clear that Organized Labor—and the SEIU in particular—is adamantly opposed to allowing its members to have any say over union representation. Thanks to a lawsuit filed against the SEIU, new details are surfacing that demonstrate the lengths to which big labor is willing to go to quash dissent amongst its membership. The lawsuit filed by the OSO Group, an international security company that bills itself as the “first commercial counter-espionage group established in the private sector,” alleges that the SEIU owes the company $2.2 …
“The report calculates that an average of $1.1 billion in new spending has been obligated each day since the bill was signed.” – Politico, May 13, 2009, reporting on President Barack Obama’s stimulus package. “Overall, the Missile Defense Agency program will be reduced by $1.4 billion.” – U.S. Department of Defense, April 6, 2009 on Secretary of Defense Robert Gates budget recommendation. For the cost of just one day’s worth of economic stimulus spending the Obama administration could fully fund missile defense. Heritage fellow Baker Spring responds to Gates’ cuts:
The New York Times story today Democrats to Develop Plan to Sell Health Care reports that many Democrats are feeling “unease” because of a Frank Luntz memo circulated last week that identifies “The Democrats want to put Washington politicians in charge of your health care” as a winning conservative message on health care. With all due respect to Frank Luntz, no one needed to tell conservatives that President Obama’s health care plan puts “Washington politicians in charge of your health care.” Back in October of 2008 Heritage fellows Nina Owcharenko …
In response to the Waxman-Markey cap and trade bill to reduce carbon dioxide and other greenhouse gas emissions, GOP lawmakers Bob Inglis of South Carolina and Jeff Flake of Arizona are set to introduce carbon tax legislation. A carbon tax is a direct, more predictable tax on carbon emissions, but that does not make it any more acceptable. Proponents argue that it is better than a cap and trade because it will not unpredictably fluctuate with the ebbs and flows of the market as evidenced by Europe’s carbon trading problems. …
The Heritage Foundation’s 2009 Federal Revenue and Spending Book of Charts is now available online. Please do keep it bookmarked for those times you need a good visual to refute liberal nonsense. For example: Liberal Myth: Bush’s Deficits Were Worse Than Obama’s. Reality: Obama’s Budget Would Create Unprecedented Deficits
This morning we warned you about the The Public-Sector Union Threat to Economic Recovery. Reason.tv’s Nick Gillespie has a new video out showing how even Gov. Arnold Schwarzenegger (CA) failed to terminate their big spending influence.
Nuclear Regulatory Commission (NRC) member Gregory Jaczko has been chosen by President Obama to be the next Chairman of the NRC. Before joining the NRC’s commission, he served as Senator Reid’s science policy advisor and also served as congressional science fellow for House Member Edward Markey. When first appointed to the commission in 2004, Reid said, “I am pleased we were able to reach a deal that places a strong, independent voice on the NRC while ensuring that nearly a hundred other federal posts will be promptly filled.” Reid’s stance …
Yesterday Vice President Joe Biden delivered the first quarterly report on the status of the Obama administration’s $787 billion program, claiming “significant progress has been made toward implementation.” The Associated Press’s Matt Apuzzo fact checks some of Biden’s claims: THE WHITE HOUSE SAID: The stimulus has created or saved 150,000 jobs. THE FACTS: Since February, the nation has lost more than 1.3 million jobs, according to the Department of Labor. To make the case that the country created jobs over that same stretch, the White House has put forward a …
Earlier this week, the USA Today reported that for the first time in the history of the United States, states and local governments are now dependent on the federal government for the majority of their revenues. While Medicaid is the driving force behind this growing dependency, it is not the only federal program that undermines state and local accountability. The Community Oriented Policing Services (COPS) in particular encourages fiscally irresponsible behavior. Heritage fellow David B. Muhlhausen details: Boston illustrates how COPS encourages fiscal irresponsibility by local governments. Boston Mayor Thomas …
