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    Government Staying in the Mortgage Business

    Despite their key role in creating the housing crisis, Fannie Mae and Freddie Mac are not being reformed, and will continue to cost the American taxpayer huge sums of money for the foreseeable future. There will be a housing summit on Tuesday, but its already clear that the federal government … More

    The Fake Jobs of Obama's Government Union Bailout

    When President Barack Obama signed the latest bailout for spendthrift states and government unions, he claimed the $10 billion earmarked for education spending would save the jobs of 160,000 teachers. But as we pointed out before the bill was signed, this number was completely made up. Since local governments always … More

    Latest Bailout Paid for Only in Fantasyland

    The House of Representatives rushed back to Washington yesterday in the middle of their six-week vacation to pass yet another bailout. This latest one, $26 billion in total, temporarily saves state governments that have overspent for years from fixing their chronic budget problems. The newest bailout spends $10 billion for … More

    Morning Bell: The Dodd-Frank Bailout is Already Here

    On July 21, when President Barack Obama signed the Dodd-Frank financial regulation bill, he promised: “There will be no more taxpayer-funded bailouts. Period.” How long will this Obama promise last? Well, The New York Times reports today that  “the Obama administration on Wednesday pumped $3 billion into programs intended to … More

    Morning Bell: Summer of Bailouts

    White House press secretary Robert Gibbs did not give the White House daily press briefing yesterday. The stated excuse was a bad cough. But there was no mention of any flu-like symptoms when The Hill reported yesterday that Gibbs believes the “professional left” should be “drug tested” since they will … More

    House Cloakroom: August 9 – 13

    Analysis: The House adjourned a week ago, but due to a last minute passage of additional bailout funding to states for being unable to manage their own finances, they will come back for another round of spending. On Tuesday, they are set to vote on the Senate amendment to H.R. 1586 that … More

    Forget Your Vacation, Come Bail Out Public Education

    The taxpayer-funded, $10 billion public-education bailout moved one step closer to reality today when the Senate voted 61–38 on a cloture measure, clearing the path for bill consideration toward the end of the week. Since the House has already left for recess, Speaker Nancy Pelosi will have to call members … More

    A "Crisis," More Hype, and Another Call for Bailouts

    Brace yourselves – America is about to fall into an “education catastrophe,” says Secretary of Education, Arne Duncan. Up to 300,000 educational workers may receive pink slips this coming fall. The only solution is the same solution to all our other economic problems. Yes, you know the drill. It is … More

    Morning Bell: Prolonging Education's Race to the Bottom

    In perhaps President Obama’s most stealth campaign to date, the federal government has been slowly tightening its grip on the education sector to little fanfare. Rather than working through the democratic legislative process, this Administration has circumvented Congress to enact an ill-conceived education agenda that will weaken accountability, reduce transparency and minimize … More

    Politics and Economics: A Deadly Mixture

    The tragic events unfolding in Greece, where at least three people have died in political rioting protesting austerity measures being imposed as part of an EU and IMF financial bailout, is a vivid reminder of the danger when the line between government and commerce is blurred or destroyed. In a … More