At 1,336 pages, the Dodd financial services regulation bill proposal, which the Senate Banking Committee will begin to consider today, includes language that could create a permanent bank bailout. It is also filled with other significant issues, any one of which could cause serious damage to the economy or consumers by allowing bureaucrats to micromanage financial services firms and require than to meet political priorities. Unfortunately, Sen. Dodd says that he wants the Senate Banking Committee to rush through the bill this week and then to send it to the …
It was a sobering read. In 1950, Samuel Glasstone’s “The Effects of Atomic Weapons” provided the first unclassified explanation of the physical destruction caused by nuclear weapons. The book’s descriptions were detailed, clinically precise … and terrifying. For decades, it remained the authoritative source on the topic. Only one problem: It wasn’t always right. Take this conclusion: “The shock wave produced by an air-burst atomic bomb is the most important agent in producing destruction. …” For years, military planners used that insight to estimate the scope of destruction wrought by …
Yesterday, former Reagan administration economic adviser Arthur Laffer stopped by the Heritage Foundation for a lecture titled, “Return to Prosperity: How America Can Regain Its Economic Superpower Status”. Laffer popularized what has become to be known as the “Laffer Curve” which helped demonstrate that increased taxation can be counterproductive in the long-term as it leaves citizens with less resources and depresses economic growth.
After his speech, Laffer sat down for an “In the Green Room” segment where he discussed the roots of the financial crisis, how President Bush and Obama have mishandled the problem, and what to expect in 2010 and 2011.
Fellow Americans, Late last night, in a narrow and partisan vote, the U.S. House of Representatives passed the most significant piece of social legislation in over seven decades. It did so in the face of overwhelming and principled opposition from the American people. Large majorities of Americans oppose this legislation because it offends the historic American dedication to the principle of self-government. They understand that this new law will accelerate Washington’s intrusion into our most personal and private decisions. This is why opposition to this bill will only grow. Supporters …
Members of the House of Representatives tonight approved President Obama’s health care agenda, the biggest expansion of government power since the Great Society. The Obama health care legislation is universal in scope and will profoundly impact the personal lives of more than 300 million Americans. It will restrict our personal freedom while undercutting the independence and authority of the several states. This unprecedented congressional action will give Washington control over the content of health benefits packages; the kind of health insurance available to Americans and the organization and regulation of …
The pending health care legislation would cover the uninsured mainly by dumping most of them into the federal/state Medicaid program. Not surprisingly, many states have objected to the additional costs that such a Medicaid expansion would impose on their taxpayers. Indeed, that was the motivation behind the infamous “Cornhusker Kickback” in the Senate bill, under which the Federal government would pick up all of Nebraska’s Medicaid expansion costs in perpetuity. In response to complaints from governors and state lawmakers, coupled with public outrage over the “Cornhusker Kickback,” section 1201 of …
Throughout the debate over liberals’ health care proposals, it has become clear that while Americans want health care reform, they reject the direction of the legislation that will be voted on in the House this weekend. The current health care bill results in a government takeover of the health care system by imposing strict regulations on insurers, mandates on employers and individuals, and an expansion of costly and inefficient entitlements. States and citizens alike are rebelling against the bill in a bipartisan manner. State legislators reject the bill because it …
Spring has sprung in Washington, DC, and while many buses line the streets packed with students touring the National Monuments, another group of students came to Washington this week for a different purpose: To tell policymakers about the impact that abstinence education has had in their lives. This year’s annual Abstinence Day on the Hill was of particular significance because of recent studies that suggest abstinence education could delay sexual activity in teenagers. In a study evaluating the effectiveness of abstinence-based programs, researchers found that from a total of 22 …
House Cloakroom: March 22 – 26, 2010 Analysis: House members are staying in town through the weekend as health care continues to hang over everyone’s heads. The House Rules Committee is tentatively scheduled to meet tomorrow to consider the now infamous “Slaughter rule” which would deem the Senate bill passed before they move on to the reconciliation bill. Speaker Pelosi summed up her approval of this measure by saying “I like it, this scenario, because people don’t have to vote on the Senate bill.” On Sunday the House is then …
