For months now the so-called super committee has been meeting in secret, tasked with delivering a budget-cutting (er… make that deficit-cutting) plan. Many have doubted they could actually reach their minimum target of $1.2 trillion in cuts. Few, if any, details had leaked—until today, when we learned that the Democrats …
Remember the Great Depression of the 1920s? If not, that’s because it didn’t happen. The recession of the early ‘20s quickly ended after spending and taxes were cut dramatically. It provides a clear lesson in “austerity” that President Obama should heed. In 1920, newly elected President Warren Harding inherited a …
The Republican members of the Senate Finance Committee recently submitted their recommendations for tax reform to the deficit reduction super committee. Their recommendations lay out the principles they’d like tax reform to adhere to: economic growth, fairness, simplicity, revenue neutrality, permanence, competitiveness, and savings and investment. Towards those ends, the …
Make sure to catch our latest Heritage Libertad Radio Show, available in Spanish or English. We kick off the first 30 minutes of our hour-long broadcast with the Spanish segment. Topics include Obamacare, the economy, jobs, and a look at the recently signed Free Trade Agreements with Panama, Colombia and South …
If you listen to Vice President Joe Biden, the most effective way to prevent rape and murder is more federal stimulus spending. In the Vice President’s defense, at least this is a new argument, considering the others—jobs created, bridges built, energy generated—have all miserably failed. But this desperate argument, while …
Next month, the “super committee” will release its plan to find savings in the federal budget over the next decade. A report from the Senate Finance Committee Republicans outlines a possible route forward and includes reforms to reduce unaffordable federal spending on health care and improve programs like Medicare and …
Medicare—on its current path—cannot be sustained. At a recent hearing held by the Senate Special Committee on Aging, Ranking Member Senator Bob Corker (R–TN) stressed the importance of Medicare reform. According to Corker, in 2011, “The U.S. spent $572 billion on Medicare, and spending is projected to increase to $1 …
Lawmakers have recently paid lip service to cutting the corporate tax rate to help boost economic growth. Doing so would be good policy, but it’s important to know why. Information disseminated by both political parties, think tanks, government organizations, media outlets, and political pundits has confused the issue, leading many …
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 …
