The $700 billion financial rescue that the House will vote on today is a significant improvement over the drafts released last Friday, and the Friday before that. According to the Congressional Budget Office, the plan will eventually cost “substantially less” than the oft-quoted amount of $700 billion, and it even …
During an interview this morning on Fox News Channel, Sen. Jim DeMint (R-SC) outlined the troubling unconstitutional aspects of the financial rescue plan. Heritage’s legal scholars yesterday outlined the constitutional infirmities that remain.
The Democratic majority’s line of logic appears to work something like this: If taxpayers can afford to spend $700 billion to bailout out the battered financial markets, then they can surely afford to spend $25 billion to bailout the auto industry, $61 billion on bogus “emergencies,” $24 billion for disaster …
After months of lambasting staunch U.S. ally Colombia for its human rights record, the New York-based group Human Rights Watch has published a detailed 236-page report exposing the Venezuelan government of Hugo Chavez’ shabby record with regard to human rights in extensive detail. Describing everything from the marginalization of political …
By popular demand we are posting the text of the provision in the House bailout bill that requires Treasury to divert 20% of all profits away from taxpayers and to left-wing advocacy groups like the Association of Community Organizations for Reform Now (ACORN). SEC. 105. RIGHTS; MANAGEMENT; SALE OF TROUBLED …
Incentives or Investments? – NEI Nuclear Notes Federal subsidies and their role in promoting our national interests have been debated since the earliest days of our nation. Earlier this week, NEI and Management Information Services Inc. released a MISI report that catalogs in exhaustive detail the panoply of federal subsidies …
After Secretary Paulson released his first bailout draft, we enumerated some threshold constitutional issues that the proposed legislation failed to pass. The latest House bailout draft not only fails to address these concerns, it actually creates brand new ones. The most glaring problem with the original proposal was the lack …
As discussed in Senior Research Fellow in Regulatory Policy James L. Gattuso’s recent blog post, the House this week approved a new $25 billion loan program for Detroit automakers, and the Senate is expected to soon follow suit. The loans are to develop alternatives to conventional fossil fuel powered vehicles …
