A new report from Cornell economist Richard Burkhauser and his colleagues has once again called into question the claims of the Congressional Budget Office (CBO) and White House that Obamacare would have only a minimal impact on employers’ decisions to offer their employees health care. The report warns that Obamacare could cost at least $50 billion more per year than originally thought. The controversy centers on the “firewall” provision in the health law, which applies to employer plans with premiums equaling more than 9.5 percent of a worker’s income. If a …
U.S. employers added only 18,000 jobs last month — a remarkably low figure that contributed to the increase in unemployment to 9.2 percent. That’s the bad news. Fortunately for American workers, the future is bright, but only if regulators in Washington, D.C., get out of the way. A new study from the respected IHS Cambridge Energy Research Associates and IHS Global Insight reveals that the offshore oil and gas industry on its own could produce more jobs per month next year than the 18,000 that were created by all U.S. …
States are desperate for ways to make their budgets more cost-effective. Illinois found a way—but the federal government won’t let the state implement a requirement that would help repair its faulty Medicaid system. Federal government health care laws are preventing a new Medicaid ID requirement—passed by bipartisan majorities in the state—from going into effect. The legislation gained the support of Republican and Democratic caucuses in the state with Rep. Patti Bellock (R-Westmont) and Rep. Barbara Flynn Currie (D-Chicago) moving the bill forth. Gov. Pat Quinn (D) signed it into law. …
With the safe return of the Space Shuttle Atlantis, American ability to put astronauts into space come to an end—50 years after Alan Shepard piloted Freedom 7 into the heavens and became the first American to enter outer space. Later this year, China will remind the world that it remains committed to what the United States no longer seems interested in—being able to put a man in space. The Chinese are expected to place the Tiangong–1, resembling the U.S. Skylab or the Soviet Salyut space labs, into orbit sometime later …
The Obama Administration has seen its fair share of milestones this month. Yesterday marked the first anniversary of the Dodd Frank Wall Street Reform and Protection Act, Obamacare is just over one year old, it has been more than 800 days since the Democrat-controlled Senate passed a budget, and the Consumer Financial Protection Bureau opened its doors on Thursday–the first new federal agency in nearly a decade. You’ll notice that no one is celebrating any of them. Perhaps it’s because those milestones have led to an even more ignominious one that the …
Conservatives are taking a stand in the House, and they’re making their liberal counterparts angry in the process. The Cut, Cap, and Balance plan passed with flying colors in the House (234–190) on Tuesday, and it is now up to the Democratic-controlled Senate to shoulder its responsibility. In fact, conservative House Members are holding out hope that the only actual bill on the debt ceiling yet to pass Congress will make it through the Senate.
NASA’s shuttle program came to an end yesterday when Atlantis touched down at the Kennedy Space Center after a 13-day mission to the International Space Station. Atlantis, which embarked on its first mission in 1985, spent 307 days in space and traveled nearly 126 million miles during its 33 flights. President Obama will take a break from debt talks today and welcome New Zealand Prime Minister John Key. The two will be discussing economic stability and national security issues. Key is also seeking progress on trade, but said yesterday the …
Upon passage of the financial reform bill, then-Speaker Nancy Pelosi (D-CA) said, “This is the next critical step forward in an effort to rebuild our economy.” This type of political hubris is reminiscent of what economist Friedrich Hayek referred to as the fatal conceit. Unemployment still stands above 9 percent, business confidence is in the tank and economic growth remains stagnant. As flawed as their claims may sound today, it is important to illustrate exactly where Ms. Pelosi, Mr. Frank and their allies failed so mightily one year ago. Let’s …
Click here to join our “Lunch with Heritage” online chat. We are joined by Heritage’s Senior Fellow in Government Studies Brian Darling. He is taking your questions about the “Gang of Six” plan, the Cut, Cap, and Balance Plan, and the August 2 deadline. Lunch with Heritage feat. Brian Darling
Senate Democrats are on the warpath against the House-passed Cut, Cap and Balance Act. They have taken to calling it the “Cut, Cap, and Kill Medicare Act.” At a press conference on Wednesday, Sen. Barbara Mikulski (D-MD) aptly summed up the left’s characterizations of the legislation, calling it “cruel, dangerous, and stupid.” Senate Majority Leader Harry Reid (D-NV) on Thursday called it “some of the worst legislation in the history of this country.” But a CNN poll released Thursday shows that two-thirds of Americans support the system established by the …
