Senate Finance Committee Republicans have some good advice for the Joint Select Committee on Deficit Reduction (sometimes known as the super committee): Fix Social Security now. As part of a 21-page comprehensive set of recommendations on issues under Finance Committee jurisdiction, the Republicans note that “Social Security reform, aimed at solvency and integrity of the program, and not for near-term deficit reduction, needs to occur as soon as possible and should not be delayed.” Further, the recommendations note: Reform of the Social Security program to ensure sustainable solvency and protection …
A new USA Today/Gallup poll shows that when it comes to assigning blame for the country’s economic woes, more Americans point the finger at Washington, not Wall Street. Yet for weeks, the so-called Occupy Wall Street protesters have camped out in the heart of America’s financial district–and have raised their voices in cities across the country and around the world–decrying the capitalist system as the root of all evil. On Sunday, these anti-capitalist protesters got a helping hand from none other than the President of the United States. Barack Obama was …
The Heritage Foundation will co-host a Republican presidential debate on foreign policy and national security with the American Enterprise Institute and CNN, officials of the two Washington-based think tanks and the worldwide cable news organization announced late tonight. The Republican candidates’ debate, scheduled for Tuesday, Nov. 15, at 8 p.m. at a Washington location to be announced shortly, will air nationally on CNN and CNN en Español and worldwide on CNN International, CNN Radio and CNN.com. “Heritage is delighted to have this opportunity to increase public understanding of the candidates’ …
Americans remain convinced of Washington’s culpability in the economic crisis from which the country is still struggling to recover, according to a pair of new polls. The ongoing “Occupy” protests notwithstanding, Americans are more likely to blame the federal government than the financial sector for the country’s economic woes. According to a poll conducted by The Hill, 56 percent of likely voters believe Washington is “more to blame” for the economic crisis. Only 33 percent said Wall Street shoulders most of the culpability. That poll phrased the question as an …
On Friday, Secretary of Health and Human Services Kathleen Sebelius admitted that the CLASS program can’t work. After months of insisting that it could meet a 75-year actuarial soundness test and keep with the statutory requirements, Sebelius acknowledged that “despite our best analytical efforts, I do not see a viable path forward for CLASS implementation at this time.” The CLASS Act was a key provision included to pass Obamacare. It would have established a new, government-run long-term-care insurance program. But it was also used to claim that the health care …
In June 2010, J. Christian Adams resigned his post as a career attorney in the Justice Department’s Civil Rights Division. Adams cited DOJ’s decision to abandon prosecution of two members of the New Black Panther Party who had brandished weapons outside of a Philadelphia polling station in 2008, shouting racial slurs at passers-by. Adams called it “the simplest and most obvious violation of federal law I saw in my Justice Department career.” The decision to drop the case – made by top officials at the Civil Rights Division – was …
While America tries to reduce its debt and get its financial house in order, it should not take a penny more out of defense, argues House Armed Services Committee chairman Buck McKeon (R–CA) in The Wall Street Journal. “Priority No. 1” for the “supercommittee,” argues Chairman McKeon, “should be: not a penny more out of defense.” The Defense Department, while making up less than 20 percent of the federal budget, has contributed to half of America’s deficit-reduction since 2009. Contrary to popular belief, defense spending has already been “on the …
The economic damage inherent in federal backing for solar power companies extends beyond Solyndra-style bankruptcies, in which taxpayers pour money into unprofitable but politically popular ventures. Even where government-backed companies stay afloat, federal intervention directs resources to less productive and profitable activities. Some solar power companies based in California are succeeding where Solyndra failed (that is, staying in business), due primarily to the state’s renewable energy mandate and restrictions on cheap energy. But while the companies have received significant backing from the federal government, taxpayers are potentially on the hook …
Last week was a dubious one for the world’s most advanced militaries. In the U.S., Defense Secretary Leon Panetta testified before the House Armed Service Committee on October 13, saying that any further cuts to defense will hollow out the force and risk national security. Meanwhile, in Israel, Defense Minister Ehud Barak warned on October 10 against current defense cuts to the Israel Defense Force, saying that Israel’s missile defense system (Iron Dome) would be slowed and one-third of the Israel Air Force and 20 percent of its Merkava tanks …
Today, the House Natural Resources Committee released its list of recommendations to the deficit reduction super committee. Their recommendations would go a long way to increase revenue for the federal government without raising taxes. The recommendations include increasing energy exploration and production both onshore and offshore, which would increase economic activity and generate revenue but also increase the money coming into the government through more royalties, lease sales, and rent fees. The committee also calls for increasing access to natural resources on federal lands and selling or transferring land away …
