Member of the European Parliament Daniel Hannan came to Heritage today to remind Americans why and how to avoid Europe’s mistakes. On March 24, 2009, Daniel Hannan became an overnight internet sensation when a YouTube recording of his three-minute speech responding to British Prime Minister Gordon Brown’s remarks before the European Parliament went viral. As the most viewed video for two days running and with over 2.4 million views to date, Dan Hannan’s speech opposing higher public spending, tax increases and record borrowing in the current economic crisis sparked international …
Last week, Michigan’s Bureau of Labor Market Information announced that their state’s unemployment rate spiked in June, hitting 15.2%, the highest rate since mid-1983. Five other states, Rhode Island (12.4%), Oregon (12.2%), South Carolina (12.1%), Nevada (12%), and California (11.6%) all have either matched or surpassed their all time unemployment highs. Nationwide, a total of fifteen states are now suffering from 10% unemployment. The Federal Reserve predicts that double digit unemployment will envelope most of the country later this year. But despite the weakness of the economy nationwide, one region …
Today’s Wall Street Journal reports that investment in renewable energies, and the green jobs that go with it, is being stifled by the stimulus. How? No one knows where, when, or if the stimulus money from Washington will arrive, sowing uncertainty among investors and businesses alike: New incentive programs haven’t yet been defined, and uncertainty about program rules has deterred investors from backing companies that also may get government money. At the same time, companies are holding off from accepting private capital because of the possibility of getting it more …
President Obama recently said, One hundred days ago, in the midst of the worst economic crisis in half a century, we passed the most sweeping economic recovery act in history…One hundred days later, we are already seeing results.” President Obama is right: In the last one hundred days, the U.S. economy has lost over 2 million jobs. The President inherited a recession and a huge budget deficit. Finding the deficit not yet huge enough, he argued for a lot more, pushing the total toward $2 trillion and putting the United …
When President Barack Obama included $1.1 billion for comparative effectiveness research in his economic stimulus bill, we warned that such funding would set the stage for government rationing of your health care: The House and Senate bills would establish a framework and funding for comparative effectiveness research and health information technology. While the Senate’s language is broad and vague, the House language provides further clarity. The House committee report states that “those [items] that are found to be less effective and in some cases, more expensive, will no longer be …
President Barack Obama’s nearly $800 billion in deficit spending is just beginning to be spent and already stories are trickling in about how the money is being wasted. Remember that bridge to nowhere in Alaska? Well the Milwaukee-Wisconsin Journal Sentinel reports that Obama’s stimulus is funding 37 bridges just like it in Wisconsin alone: A vast majority of the Wisconsin bridges awarded construction money in the first wave of federal stimulus funding carry fewer than 1,000 vehicles a day, a Journal Sentinel analysis of federal bridge inspections shows. And many …
Newt Gingrich was on ABC’s This Week yesterday, and he nailed exactly why the Obama Trillion Dollar Debt Plan is destined to fail:[youtube]http://www.youtube.com/watch?v=oQ66wcoJgnw&eurl=http://www.foundry.org/&feature=player_embedded[/youtube] Our unofficial rush transcript: What you actually have is not change you can believe in. What you have is the fourth act of the Bush-Obama spend more plan. [Vice President Joe] Biden voted for all three of the first spending plans. The stimulus which failed in the spring. The housing bailout which failed in the summer. The Wall Street bailout which failed in the fall. Now we’re …
Another day, another poll showing public support for President Barack Obama’s Trillion Dollar Debt Plan sinking fast. Trying to turn these numbers around, Obama went on the offensive yesterday delivering some red meat to House Democrats at their posh Resort and Spa retreat in Williamsburg, Virginia. Defending his plan, Obama told Democrats: “[We] are not going to get relief by turning back to the same policies that for the last eight years doubled the national debt and threw our economy into a tailspin. … I found this national debt, doubled, …
