President Obama is meeting with lawmakers Friday in a last-ditch effort to stop sequestration. Budget cuts representing just 2.4 percent out of total government spending are set to take effect at the stroke of midnight. Heritage Foundation President-Elect Jim DeMint appeared on CNN’s “The Situation Room” tonight alongside liberal pundit …
The Environmental Protection Agency (EPA) announced plans to furlough all of its employees and shut down for three days this year to absorb sequestration’s spending cuts. But the sequester cuts do not have to lead to shutdowns. The Heritage Foundation recently pointed out that prioritized cuts at the National Institutes …
The Progressive Congressional Caucus (PCP) recently released a video hyping the forthcoming sequestration “cuts.” The video warns that sequestration will have the harmful effect of “cutting investments for working Americans,” “70,000 children will be kicked off Head Start,” “$35 million [will be] cut from support for firefighters,” and “830,000 fewer …
President Obama’s campaign organization is using discredited information and misleading numbers in its latest effort to lobby Congress to stop sequestration. An email sent today by Jim Messina, chairman of Organizing for Action, urges supporters to sign a petition in support of Obama’s tax hikes. The email includes the typical …
President Obama is touring the country and campaigning against the spending cuts under sequestration, such as cuts to energy research. The Department of Energy (DOE) itself has claimed that it may have to “curtail vital programs” and furlough employees in light of sequestration. The Heritage Foundation has already identified wasteful …
Two Members of Congress are reportedly trying again to impose an excise tax on certain financial transactions—i.e., the “Robin Hood tax.” A financial transactions tax can take several forms, but the version proposed by Senator Tom Harkin (D–IA) and Representative Peter DeFazio (D–OR) in the last Congress would have charged …
Do the risks from the Federal Reserve’s trillion-dollar annual stimulus program justify the rewards? That was the central question at Tuesday’s Senate Banking Committee hearing featuring Fed chairman Ben Bernanke. Bernanke worked hard to defend the Fed’s quantitative easing policy, but he appears to oversell the rewards by a mile …
All this talk of “spending cuts” in sequestration is forgetting one important point: These aren’t true spending cuts. They are reductions in the rate at which government spending is continuing to grow, said Heritage President-elect Jim DeMint on “The Kudlow Report.” He told host Larry Kudlow, “You can see…there’s no …
The White House warns that sequestration “would reduce loan guarantees to small businesses by up to $902 million”—loans that it claims are “investments that are helping grow our economy.” Setting this flawed Keynesian line of thinking aside, it’s worth investigating whether or not there is room to reduce spending at …
