When the non-partisan Congressional Budget Office (CBO) released their original estimate of President Obama’s Budget , they said it was going to be expensive: in ten years the President would accumulate over $9 trillion in deficits. Turns out, that was low-balling it. In their original estimate, CBO assumed that interest rates would be held constant. This makes modeling the costs a bit easier, but makes little economic sense. In reality, as annual deficits are piled onto the national debt, any rational person (or foreign government) debating whether or not to …
Liberals are disputing the Conservative view that President Obama is siding with Chávez and Castro in the Honduras crisis. They are mistaken. On June 28, the Congress and Supreme Court of Honduras ,with the assistance of the Honduran Armed Forces, physically removed President Manuel Zelaya from his residence and expelled him from the country. The new Honduran government states President Zelaya’s removal from office was the result of legal orders issued by its supreme court. In a matter of hours, a new government was sworn in. It promises, unlike Zelaya, …
Yesterday Iraqis celebrated a new national holiday, National Sovereignty Day, which marked the withdrawal of U.S. combat troops from Iraqi cities. This partial pullback, which is a vindication of the Bush Administration’s surge strategy, has gone relatively unnoticed in Washington, perhaps because many members of the Obama Administration opposed the surge and remain ambivalent about progress in Iraq. Thanks to Bush’s surge, which enabled an Iraqi surge, violence in Iraq is down by 90 percent from its peak in 2007. Iraqi security forces have made great strides in improving their …
In the wake of the General Motors and Chrysler’s bankruptcies, United Auto Workers finds itself in a complicated position. In some sense it has achieved a Marxist ideal: it has gained (at least some) control of its means of production. The UAW owns 55 percent of Chrysler and 17.5 percent of GM. Consequently, however, the UAW is placed in a strange situation when negotiating with Ford.
Writing in Forbes yesterday, the Goldwater Institute’s Clint Bolick argues that the Supreme Court’s ruling in Ricci v. DeStafano should result in renewed attention to education reform and the need to improve educational opportunities for all people: “[The ruling] also brought the nation closer to an important day of reckoning. When blacks and Hispanics flunk examinations, the cause is less likely to be discrimination than the appalling educational conditions to which most economically disadvantaged black and Hispanic children are consigned. “Affirmative action” programs that leap-frog less-qualified minorities over more-qualified non-minorities …
Recent press reports, including a front-page story in the Wall Street Journal, have the news that Wal-Mart has signed a letter to President Obama endorsing the idea of an “employer mandate” – a requirement that employers offer health insurance to their employees. Why would Wal-Mart – the nation’s largest employer – endorse such an idea? Simple: It would cripple many of their competitors. Much ink has been spilled on the effect Wal-Mart has on small retailers. Wal-Mart’s large size enables them to extract low prices from manufacturers, and that – …
Under the government-proposed public health plan, “people will involuntarily lose their coverage and will be bled into the new plan,” said Heritage’s senior policy analyst for health care Nina Owcharenko at yesterday’s Blogger Briefing. “They expect they would have their private insurance plans competing with the public plan but at the end of the day the public plan will be the last one standing,” she said. Owcharenko explained that the legislative process isn’t moving at the rapid pace once anticipated. So far, the Kennedy-Dodd bill is still incomplete. The House has introduced …
After the Waxman-Markey cap and trade bill narrowly passed the House of Representatives (219-212), Nobel Laureate economist Paul Krugman, an avid supporter of global warming legislation, expressed his discontent. His concern was not with the bill but those who voted against it. In his New York Times column Krugman says, “And as I watched the deniers make their arguments, I couldn’t help thinking that I was watching a form of treason — treason against the planet.” Another economist, Don Boudreaux, who is the Chairman of the Department of Economics at …
From today’s Washington Times: When House Democratic leaders were rounding up votes Friday for the massive climate-change bill, they paid special attention to their colleagues from Ohio who remained stubbornly undecided. They finally secured the vote of one Ohioan, veteran Democratic Rep. Marcy Kaptur of Toledo, the old-fashioned way. They gave her what she wanted – a new federal power authority, similar to Washington state’s Bonneville Power Administration, stocked with up to $3.5 billion in taxpayer money available for lending to renewable energy and economic development projects in Ohio and …
Following up on his infomercial last week , courtesy of ABC News’ “Questions for the President: Prescription for America” special, which was meant to be a town hall discussion for doctors, patients and health care experts to bring the tough questions, President Barack Obama is holding another “town hall” online today to “answer more of your questions” on health care reform. The online discussion, taking place at 1:15 pm in Annandale, Virginia, is using Facebook, YouTube and Twitter to take questions from the public. Judging by Obama’s previous track record of …
