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    Bankruptcy Is Better Than a Bailout

    Today Senators John Cornyn (R–TX) and Pat Toomey (R–PA) introduced the Taxpayer Protection and Responsible Resolution Act to begin repairing some of the damage caused by the Dodd–Frank regulations. The 2010 Dodd–Frank Wall Street Reform and Consumer Protection Act increased regulations on virtually every aspect of the financial sector and … More

    The Fed at 100: Why Do We Have a Central Bank?

    The Federal Reserve, the U.S. central bank, is surrounded by as much controversy today as it was at its creation 100 years ago. The Fed has never been short on critics, but the anti-Fed movement has even gained traction inside Congress, according to a recent National Journal article. The Fed’s … More

    Baucus Continues Losing Streak with Energy Tax Reform Draft

    Chairman of the Senate Finance Committee Max Baucus (D–MT) released a draft bill to reform the way the tax code treats energy. This latest draft reform plan misses the mark, just like his earlier efforts on international tax and depreciation did. Baucus claims that his plan would stop the tax … More

    Union Integrity Act Protects Whistle-Blowers

    Last year, four truck drivers talked to federal investigators about safety problems at Gaines Motor Lines. A week later, they were fired. Now the Department of Labor has ordered Gaines Motor Lines to reinstate these whistle-blowers and pay more than $1 million in back pay and damages. While the law … More

    Revisionist History: Absolving Fannie Mae and Freddie Mac

    A newly released book, The Mortgage Wars, aims to rewrite history and absolve Fannie Mae and Freddie Mac of having any part in the financial crisis. Written by former Fannie Mae Vice Chairman and CFO Tim Howard, the book blames the crisis on Alan Greenspan and Larry Summers. According to … More

    What the Government Got You This Year (in Pictures)

    Today, the Senate is set to pass the new U.S. budget deal in all its spend-tastic glory. Lawmakers have hemmed and hawed about making any cuts to spending, despite countless examples of ridiculous decisions that have wasted taxpayers’ money. So it’s timely that the office of Senator Tom Coburn (R-OK) … More

    Washington Post: Obama Administration Slowed Red Tape to Avoid 2012 Election Backlash

    Last fall, Heritage Foundation analysts noted an eerie silence coming from Obama regulatory agencies. The production of new rules, which until then had been in overdrive, slipped into a lower gear. And the regulatory agenda, which the Administration was required by law to release every spring and fall, did not … More

    Ecuador: Chevron Trial Illustrates Poor Investment Climate

    Press coverage of the just-concluded testimony phase of a racketeering trial in a New York federal court provides an excellent recent illustration of the behind-the-scenes maneuvering by President Rafael Correa of Ecuador and his government that has created disillusionment and a climate of mistrust among international investors. Two years ago … More

    The Ryan–Murray Budget Deal: Unnecessary Pain for Americans

    The controversial budget deal reached by Representative Paul Ryan (R–WI) and Senator Patty Murray (D–WA) has been criticized by experts on both sides of the issue for delaying needed budget reforms. Romina Boccia, Heritage’s Grover M. Hermann Fellow in Federal Budgetary Affairs, discussed the deal with Obama’s car czar Steven … More

    Spending Caps Have Worked, but Ryan-Murray Budget Would Lift Them

    In terms of cutting government spending, the Budget Control Act’s spending caps and sequestration have been an unparalleled success story in recent years. And yet, the House of Representatives voted last Thursday to weaken the caps in 2014 and 2015 for a $63 billion increase in the discretionary budget. Sequestration … More