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    Restoring Markets, Protecting Taxpayers

    So much has happened in just the past week, but our analysts are on top of the situation. Here is what Heritage has so far on the current situations in Wall Street and Washington: What Should Be Done About the Financial Markets? Stuart Butler, Alison Fraser, and James Gattuso outline … More

    The Glass-Steagall Myth

    It has become an article of faith on the left that the 1999 Gramm-Leach-Bliley Act is to blame for the current crisis on Wall Street. Typical of the herd, George Polk Award winner Josh Marshall writes at Talking Points Memo: Let me get this straight. John McCain’s top economic advisor, … More

    Markets Are Environment's Best Protection ... Just Ask the Fishes

    For years environmentalists have been prescribing mountains of new regulations on the fishing industry in an effort to protect fish populations. But their drive to micromanage the industry has not helped revive fish populations. Now, a study in Science finds that a market based approach the defines property rights, called … More

    Facts Kill Another Liberal Myth

    To hear leftist politicians and their media allies tell it, the current financial turmoil was directly caused by deregulations carried out in just the past eight years under President Bush. Barack Obama aide Austan Goolsbee told Politico: “The core issue is pretty easy to understand. We’ve just spent the last … More

    Corporations Know U.S. Has Uncompetitive Tax Rates

    Every year the international accounting and consulting firm KPMG issues a Corporate Tax Survey to “help our member firm clients and other organizations consider developments across borders.” In other words, to better inform their clients about which countries offer the most competitive environments for business. This year KPMG reports: [T]the … More

    More Lawsuits: Just What the Economy Needs

    As Americans watch the financial markets agog at what’s next and tighten belts for fear of slowdown or even recession, Congress chugs merrily along on track to bulk up labor law and allow more lawsuits against employers. Already, labor law experts are expecting a surge in lawsuits if the economy … More

    Spending Explosions, not Tax Cuts, Driving Deficits

    Last week the Congressional Budget Office reported that the federal deficit will reach $407 billion this year. This actually is not as groundbreaking as it sounds. The best way to measure budget deficits is as a percentage of GDP, the 2008 budget deficit is 2.9% of GDP compared to 30.3% … More

    5 Misconceptions About the National Debt

    There is a lot of information about the national debt, but misconceptions cloud the debate. There are five common misconceptions about the national debt. This video explains them, as well as why they are not accurate guides to measure the debt. Heritage’s Brian Reidl also mentions the real threat to the National Debt – unfunded entitlement … More

    Tomorrow's Local Government Pension Crisis is Here

    When it comes to retirement and pension benefits, federal, state, and local government officials have all been humming the same mantra: never pay for something today if you can put off paying for it until tomorrow. Unfortunately, tomorrow is here. The federal government is on the hook for $41 trillion … More

    Bailing Out Detroit: Wrong Vehicle for Change

    Nothing gathers a crowd in Washington like the sight of money being handed out.  Thus, in the wake of last weekend’s federal takeover of Freddie Mac and Fannie Mae, lobbyists for the automobile industry could be found stalking the halls of Congress, asking for help from the government too.  Specifically, … More