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    Want Cheaper Gasoline? Waive Regulations

    Even as the summer travel season is winding down, drivers have certainly noticed that gas prices are marching back up. Since the law of supply and demand hasn’t yet been repealed (or even suspended by executive order) the answer seems simple enough: increase the amount of gasoline available. A recent … More

    Time to Restore America's Rule of Law

    In his recent Wall Street Journal op-ed, Professor David Skeel of the University of Pennsylvania Law School pointed out: No one doubts that the coming election will be the most important referendum on the size and nature of government in a generation. But another issue is nearly as important and … More

    Are Spending Cuts as Harmful as Tax Increases?

    Wednesday’s warning by the Congressional Budget Office (CBO) that the fiscal cliff is likely to push the economy back into recession should bring things sharply into focus for lawmakers. The CBO is correct that the fiscal cliff will lead to a recession, but its report contains faulty economic reasoning. The … More

    Morning Bell: Another Recession Is Imminent

    Yesterday, the Congressional Budget Office (CBO) reported that without a doubt, America will have a fresh recession next year unless Congress and the President prevent it. We are facing the largest tax increase in history—Taxmageddon, scheduled to take effect January 1—and what experts are calling a “fiscal cliff” of sharp … More

    Can Asia’s Biggest, Baddest Economy Conquer the U.S.?

    China (GDP: $5.9 trillion) overtook Japan ($5.5 trillion) as Asia’s largest economy in 2010. Despite its rapid growth and much larger population, however, China’s economy still remains less than half the size of the U.S. ($14.6 trillion). Recent reports indicate that China’s economy has been showing signs of slowing, further … More

    Morning Bell: Has Any Administration Policy NOT Killed Jobs Lately?

    Congress has headed off for its long vacation-and-campaign season, fleeing Washington as the unemployment rate rises. According to the Labor Department’s July jobs report, the unemployment rate ticked up to 8.3 percent, 12.8 million Americans are out of work, and 5.2 million have been out of work for at least … More

    Another Temporary Budget Deal: Don’t Blame a “Broken” Process

    The stopgap spending agreement reached by House and Senate leaders may be the only way Congress will escape a post-election “lame duck” showdown over funding government agencies. It also presumably helps clear the agenda so Congress can focus on Taxmageddon and the scheduled defense-devastating sequestration—two other major fiscal problems lawmakers … More

    The Right Road on Regulation

    Regulation is like the weather. Everyone likes to complain, but nobody does anything about it. That’s not true, however, of the House of Representatives, which today passed a fistful of reforms. The package is hardly the stuff of revolution, and few of the proposals will make their way on to … More

    Budget Battle Made Simple

    Understanding what Washington is up to is as simple as one-two-three: 1. Unacceptable Choices Under President Obama’s leadership, Americans have been presented two unacceptable choices. For Washington to continue to pay its bills under the limitations of the Budget Control Act of 2011 (BCA), which the President signed into law, … More

    Morning Bell: Senate Votes to Raise Taxes on Small Businesses

    Yesterday, the Senate narrowly voted (51-48) to raise taxes on 1.2 million small businesses, which will likely kill more than 700,000 jobs at a time when nearly 13 million Americans are out of work. Senators Joe Lieberman (I-CT) and Jim Webb (D-VA) joined all Republicans in bipartisan opposition to the … More