Conservatives have a clear objective: Debt limit legislation should drive down federal spending on the way to a balanced budget, while preserving the ability to protect America, and without raising taxes. The plan suggested by Speaker of the House John Boehner fails to meet that objective — indeed, it sets America up for tax hikes. The Boehner plan has two steps. The first step cuts spending by $1.2 trillion — but over ten years, and, as usual with these plans, the deep cuts come in the later years, which makes …
Natural gas prices in the United States have been low in the past few years, and increased estimates in natural gas reserves from shale formations in Pennsylvania, New York, Texas, Oklahoma, Arkansas, and Louisiana are opening opportunities to increase exports to other nations. In some countries, natural gas prices are three times as high as they are in the United States. Exporting natural gas would provide a huge boon for our economy, as it would expand market opportunities for American companies and incentivize more production. In 2010, President Obama said …
Take a look at the Obama Administration’s newest grant announcement for marriage education. Everything looks okay until page 29. There, listed as one of the “Unallowable Activities,” is abstinence education. Wait a second. One would expect that with the name Healthy Marriage and Relationship Grants, these programs would aim to promote, well, healthy marriage and relationships. But then why ban educators from talking to youth about delaying sexual activity—a factor associated with stronger marriages—not to mention helping youth avoid a host of other social ills? As Valerie Huber of the …
Catching you up on clips, commentary and news of the day. Sign up for the daily email update from Scribe. As Criminal Laws Proliferate, More Are Ensnared – Gary Fields & John R. Emshwiller The Truth Comes Out in Honduras – Mary Anastasia O’Grady A Year Later, Dodd-Frank Delays Are Piling Up – Ben Protess Will Obama ever learn economics from Reagan? – Edwin Meese III & Michael Needham Obama Sets Tax Trap, GOP Takes Bait – Brian Darling Cheating fails the character test – Jennifer A. Marshall Meese Helps Social …
News from Rasmussen Reports: Obamacare still isn’t winning any fans among Americans. Given Obamacare’s effect on employment, that’s not surprising. A new poll reveals that 57 percent of Americans favor the repeal of Obamacare, including 46 percent who strongly favor its repeal. Meanwhile, 53 percent think the law will be bad for the country, and only 31 percent think it will be good–the lowest finding since the law’s passage. They’re right to be worried, and the law has already been bad news for the United States. In a new paper, Heritage’s …
Want some perspective on the debt ceiling negotiations and calls for tax increases in exchange for spending cuts? You might want to consider a cautionary tale dating back to 1982 when President Ronald Reagan agreed to a deficit-reduction compromise—and a result he didn’t bargain for. Former Attorney General Edwin Meese III, who served under President Reagan, and Heritage Action for America’s Michael Needham write in today’s USA Today of the agreement Reagan struck in 1982 in hopes of tackling high deficits. He agreed to a modest increase in business taxes …
Winter has turned to spring and spring has turned to summer, but Congress and the White House are still debating how to handle the limit on our national debt. In the 1830’s, however, President Andrew Jackson set about an even more daunting task: paying the debt off entirely. America accomplished that feat in 1835, and to this day it is the only time we have done so. According to the US government, outstanding public debt totaled approximately $80 million (or $1.8 billion in 2010 dollars) by the start of President …
President Obama speaks to the National Council of La Raza today to deliver his latest sales pitch to Hispanics. His talking points should sound familiar. La Raza regularly mirrors the White House message on a range of topics — from the ongoing debt-limit debate to Elizabeth Warren. Recent action alerts from La Raza frame nearly every national policy debate as a Latino issue. They also reveal a high level of coordination on messaging between the White House and the nation’s largest Hispanic advocacy organization. Looking back at the major policy …
In this week’s Heritage in Focus, labor economist James Sherk discusses his two new reports, one on Obamacare’s effect on recovery and the other on unions’ effect on job creation. Make sure to listen to the full interview, here. Sherk’s research is captured well in the graph below. In short, Obamacare is bad for jobs. Not only that, but unions are preventing wage increases, bonuses and additional job growth, as well. Listen to James discuss these issues and where we go from here. To get regular updates on Heritage in Focus …
The debt standoff in D.C. is first and foremost about irresponsible government—not just right now but for a decade by both parties, both houses of Congress, and two Presidents. There are also a number of secondary issues, including the impact on America’s biggest foreign creditor: China. Hang on—this is going to get a bit complicated. First, there’s the idea that China can just stop buying foreign currency assets. False. The PRC’s own balance of payments rules mean they have to keep buying, and they know they have to. The situation …
