There’s more going on in Washington this week than health care reform. Giving up on efforts to get a bipartisan deal on financial regulation, Senate Financial Services Committee chair Chris Dodd today released his own plan – sans GOP support – for “fixing” the financial system. The goal, according to the plan, is to create a financial system that will not only prevent another financial crisis, but one that “works for and protects” Americans. It’s a fine sentiment, but there’s one problem: the new regulations being proposed will make the …
The White House has indicated it intends to nominate San Francisco Federal Reserve Bank President Janet Yellen as Vice-Chairman of the Federal Reserve Board in Washington. The White House has said the top candidates for the two remaining Board slots are the relatively unknown attorney Sarah Raskin, Maryland’s Commissioner on Financial Regulation, and Peter Diamond, a well-known Social Security specialist from MIT. Yellen’s appointment is logical. A highly regarded macroeconomist who previously served as a member on the central bank’s board she is expected to perform the traditional roles of …
The National Highway Traffic Safety Administration (NHTSA) still cannot determine what caused the unintended acceleration of a Toyota Prius last week in which a police officer was able to assist in bringing the vehicle to a stop without injury to anyone. In fact, when Members of Congress grilled Toyota representatives in several hearings, one of the reoccurring questions from Members was: Why didn’t you address the problem sooner. A legitimate question given the volume of complaints over the years but there are some trends that may shed light into what …
Even as the US continues to debate how it will sustain a manned presence in space, China made yet another major announcement about its manned space program. In an announcement from the Chinese Ministry of Defense, it was declared that the newest class of Chinese astronauts included two women. Unlike their male counterparts, these are drawn from the ranks of China’s transport aircraft pilots (presumably because the People’s Liberation Army Air Force [PLAAF] has no female fighter pilots).
Congressional liberals are working overtime. In case you missed it, hidden behind the non-stop news coverage of the health care debate, the Senate-passed extenders bill includes several health care provisions that follow the same flawed policies of the big Stimulus Bill. Once again, these provisions move the health care system in the wrong direction. COBRA or Nothing. The bill would give premium relief only to those unemployed workers who opt for COBRA coverage. It is well documented that COBRA coverage is one of the most expensive options available to those …
Last week Greece was admitted as the 36th member nation of the Visa Waiver Program, (VWP). While this is certainly a welcome move for a program that hasn’t added a new member since 2008, it also highlights a real lack of willpower and effort by the White House to keep adding new member countries. In fact, DHS can barely add any new members right now because of the biometric exit mandate Congress linked to its waiver authority. The biometric mandate—which hasn’t gotten much of anywhere is a real stumbling block …
The United States Trade Representative announced that negotiations on the Trans Pacific Partnership will begin this month, March 2010. Prompt conclusion of this agreement could be critical to the President’s export initiative, in which Mr. Obama intends to double U.S. Exports over the next five years. While the stimulus plan has had mixed results, increasing exports could help move our economy out of recession. Increasing exports can have a dramatic effect opening up new markets for U.S. goods and services. My district, which includes the Port of New Orleans, has …
In an attempt to solve the nation’s current economic woes, legislators remain fixated on a single solution: federal stimulus spending. This is the wrong solution, regardless of the sweet rhetoric used by some Washington lawmakers, and is no economic stimulus. Two days ago the Senate passed (62 to 36) another round of stimulus (this time dubbed a “jobs bill”) which, among other items, extends unemployment benefits for up to one additional year. Unemployment benefits will now extend to two years under federal law which begs the question: Are these benefits …
Over the weekend, the administration released its “blueprint” for reauthorization of the Elementary and Secondary Education Act (ESEA). The blueprint provides the administration’s vision for reauthorizing ESEA, in its current iteration known as the No Child Left Behind Act (NCLB), due for reauthorization since 2007. The plan to tackle the reauthorization of NCLB marks the most significant undertaking in the realm of federal education policy since the law was originally crafted in 2001. For the education policy world, this is huge; for the Obama administration, this offers a prime opportunity …
The Heritage Foundation unveils our redesigned website this morning with a modern look and feel, better organization of our policy research, greater integration of our multimedia products and our blog, The Foundry. The redesigned website is a significant step forward for Heritage. It presents an innovative new platform for a varied tapestry of people — from Capitol Hill legislators to our more than 600,000 members — to have greater access to our best-in-class conservative policy research. More than a year of planning and development went into the creation of the …
