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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

    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

    Even in Recess, Congress Can’t Help Spending Billions for Bailouts

    Not satisfied by the billions in federal bailouts already passed, House Speaker Nancy Pelosi recently announced that she intendeds to bring the House back from the August recess to pass yet another multi-billion-dollar federal bailout. This version—costing taxpayers $26.1 billion—is touted as aid “to save teachers’ jobs, help seniors and … More

    Congress Reaches New Heights of Tax Hike Cynicism

    Progress is often a matter of higher, faster, further—profits are higher, computer chips are faster, cars run further on a gallon of gas. In Washington, progress is often measured by more and more—spending more than ever and being more cynical than ever. The liberal leadership in Congress has set a … More

    More Fed Money for Profligate States?

    Many state leaders are lobbying the Senate to extend the Medicaid bailout enacted in the February 2009 stimulus bill. While several attempts by Senate leaders to extend the bailout have failed, it will be brought to the floor again on Monday, this time bundled with additional spending on education. Talk … More

    Ready for the Next Trillion-Dollar Bailout?

    Obamacare has been rightly blasted as fiscally irresponsible, yet few have noticed what may be Obamacare’s largest ticking entitlement time-bomb: the CLASS Act. My new op-ed on the subject is here, and my new report, co-written with Jim Capretta, is here. CLASS is a new long-term-care insurance program that was … More

    Tax Break for the Trial Lawyers: A Bad Idea

    Do the nation’s trial lawyers deserve a taxpayer bailout? That’s what they’re after: a special-interest tax break of $1.6 billion. In fact, after Congress refused to consider giving them that break, they are now trying to get it from the Treasury Department. In order to bestow that gift, though, the … More

    Propping up the Teachers Unions

    Last night, the House of Representatives passed their version of the defense supplemental bill by a vote of 215-210. The bill includes $10 billion for the “Education Jobs Fund” which Democratic leadership claims will “save” 140,000 jobs. At that rate, each job “saved” will cost more than $70,000, which is … More

    Why Obamanomics Has Failed - Annotated

    Carnegie Mellon University economics professor and American Enterprise Institute visiting scholar Allan Meltzer has a must read op-ed in today’s Wall Street Journal titled: Why Obamanomics Has Failed: Uncertainty about future taxes and regulations is enemy No. 1 of economic growth. It is re-posted in its entirety below but as … More