Offshore oil and gas leases produced $10 billion in federal revenue only a few years ago. Today that number is zero, a consequence of the Obama administration’s reaction to last year’s Gulf of Mexico oil spill and the resulting moratorium on production in the region. Sen. David Vitter (R-LA) says it’s a huge mistake for the federal government to forgo the money — and the jobs that result from the offshore leases. Writing for Roll Call today, Vitter outlines the extent of the problem: Revenue can’t be generated from lease …
Just last week, America learned that September was yet another bad month for the Obama economy, with the unemployment rate remaining flat at 9.1 percent. A new report out today predicts more bad news down the road: Wall Street could see 10,000 securities jobs lost by the end of 2012. That’s on top of the 22,000 jobs the industry has lost since January 2008. The Wall Street Journal reports: New York City’s securities industry could lose nearly 10,000 jobs by the end of 2012, New York state’s comptroller predicted, a painful …
The death of Steve Jobs last week captured the attention of people not only around the nation but around the globe. While Jobs and his products are known worldwide, less well known, as Lori Drummer of the Independent Women’s Forum writes, was this innovator’s “passion” for educational opportunity via school choice. As Jobs noted in a 1995 interview with the Smithsonian Institution: “Equal opportunity to me more than anything means a great education.” He added that “the customers of education” are ultimately “the parents” and that “what we need to …
What’s the latest plan from the left to pay for President Obama’s latest batch of stimulus spending? More taxes on high-income earners, of course. And if Senate Majority Leader Harry Reid (D-NV) gets his way, the United States’ average marginal top tax rate would be higher than all but two of the 30 most economically developed countries in the world. Reid has proposed a 5.6 percent surtax on incomes of married filers earning over $1 million starting on January 1, 2013–and that would push the average top U.S. income rate to 55 …
For decades now, spending on public education has been increasing significantly, while academic achievement has remained stagnant. What if, instead of pouring money into failing schools, we give the money to parents and allow them to spend it any way they see fit on their children’s education? Well, in states like Arizona, education savings accounts (ESAs), which do just that, have become a reality and could be the future of school choice. Heritage’s Lindsey Burke explains what it means for some residents of Arizona: In April 2011, Arizona Governor Jan …
On October 25, 1983, the first of 7,000 U.S. troops landed on the shore of Grenada under the command of President Ronald Reagan. The goal of the mission? Put down a violent coup that threatened to put the country in the Communist bloc and give the Soviet Union another foothold in America’s backyard. Just as President Reagan acted decisively to protect American interests in 1983, so too must America today be prepared to respond to the threats of terrorist forces in the wake of September 11, 2001. But who bears …
Hurricane Irene and Tropical Storm Lee may have ravaged northeastern Pennsylvania with floodwaters, but displaced people have found aid and comfort in the relief provided by private charities and businesses. A recent New York Times story described affected people’s disillusionment with the federal government’s ability to dispense disaster relief aid through FEMA. “Uprooted and desolate, hard-working people in this part of the country expect a bit more from their government,” the Times reported. The story failed to mention the outpouring of food, furniture and housing repair assistance provided by charities …
Unsure why the Founders adamantly supported the separation of powers? Need to prove to a friend that Progressives rejected natural rights and limited government? The best way to answer these questions is to study the words of the Founders and the Progressives themselves, but sifting through the mass of online historical documents to find the best ones can be a daunting task. Fortunately, Heritage’s new First Principles Web page makes the process easy. Our unique “primary sources” section presents the most essential American political texts in an easily accessible format. …
Free trade agreements (FTAs) have economically benefited nations the world over since their inception. Poverty rates in countries with low trade barriers are significantly lower, and data in The Heritage Foundation’s Index of Economic Freedom demonstrate that free trade also leads to higher incomes, more jobs, and greater equality. That’s why it’s vitally important to quickly enact the three pending U.S. trade agreements with Colombia, Panama, and South Korea. These FTAs have been sitting on the President’s desk since 2007 for no good reason. President Obama has finally made them …
House Cloakroom: October 10 – October 14 ‘ Analysis: The major issues facing the House this week will be three free trade agreements with Colombia, Panama and South Korea and Trade Adjustment Assistance (TAA). These free trade agreements had been held by the Obama Administration since they came into office in 2009 and were finally sent to Congress after the Senate passed TAA. All four of these bills are expected to pass this week. Major Floor Action: HR 3078 – United States – Colombia Trade Promotion Agreement Implementation Act HR 3079 …
