President Obama’s politically intoned decision to reject TransCanada’s permit application to construct a 1,700-mile pipeline from Alberta, Canada, to Texas refineries sent a clear message that special interest demands are of more importance than more energy and much-needed job creation. Building the pipeline would bring over 700,000 barrels of oil per day and directly create 20,000 truly shovel-ready jobs. The Canadian Energy Research Institute estimates that current pipeline operations and the addition of the Keystone XL pipeline would create 179,000 American jobs by 2035. Since TransCanada and Nebraska politicians have …
This week, all eyes are on South Carolina as the Palmetto State votes on Saturday in the next Republican presidential primary contest. Jobs and the economy are rightly being debated by the entire political spectrum. It’s not the first time in the past year that South Carolina has been center stage when it comes to jobs in a country struggling to get back on its feet. Last year, the Obama Administration took aim at Boeing when the Seattle-based company sought to build a new assembly plant in Charleston, South Carolina, …
So you think you’re free? Thanks to big government spending and exploding debt, the United States — and indeed the world — is less economically free today than it was a year ago, according to the 18th annual Index of Economic Freedom, released yesterday by The Heritage Foundation and The Wall Street Journal. Economic freedom — the ability of individuals to control the fruits of their labor and pursue their dreams — is central to prosperity around the world. Heritage and The Wall Street Journal measure economic freedom by studying its pillars: the …
In this week’s Heritage in Focus, Heritage’s Kim Holmes, co-author of the annual Index of Economic Freedom, discusses this year’s index. Click here to listen. How does the U.S. rank in economic freedom this year? How does economic freedom fare worldwide? Is there any big surprise in this year’s index? Be sure to listen to Dr. Holmes discuss answers to those questions and more! To get regular updates on Heritage in Focus podcasts, visit our RSS feed or subscribe on iTunes.
In this week’s Heritage in Focus, economist Bill Beach discusses 2011′s economic misteps and how to readjust economic principles to guide policy in 2012. Click here to listen. What is the fundamental economic concept that led to so many policy mistakes? What’s the proper concept to guide policy moving forward? And what will be the biggest policy challenge moving forward? To get regular updates on Heritage in Focus podcasts, visit our RSS feed or subscribe on iTunes. To listen to more Heritage Foundation podcasts, visit our podcast page.
Today’s jobs report from the Department of Labor was encouraging news for the U.S. economy. It shows that 200,000 jobs were created and the unemployment rate ticked down from 8.7 percent to 8.5 percent. Jobs were created in every sector of the economy save one — government! This report is consistent with other economic indicators and shows that the economy is finally coming out of its malaise. But like any reports, they must be put into context. The creation of 200,000 new jobs is solid growth and above the 130,000 …
The framers of the Constitution required the President to get the consent of the Senate before appointing senior government officials. They wanted to prevent the President from appointing those who would abuse the public trust. President Obama’s purported appointment of Richard Griffin to the National Labor Relations Board (NLRB) yesterday illustrates the importance of this constitutional restraint. The union movement has a problem: Just one in 10 nonunion workers wants to join a union. Few workers believe that unions have much to offer, and even fewer want their company to …
On the front page of the White House’s website, a clock slowly ticks away, second by second, counting down to the day, hour, minute, and second that the nation’s payroll tax “holiday” expires and the American people get socked right where it counts — in the pocket book. And just next to that clock is a message laying the blame squarely on the House of Representatives. But today the real culprit in this debacle is the U.S. Senate which, right now, is home for the holidays already, celebrating with family …
As the clock counts down toward Christmas, Congress still has major unfinished business to attend to. Not that we should be surprised. Emblematic of a resoundingly disappointing year, the last remaining issue to be resolved directly affects the pocketbooks of Americans. Just days from now, the payroll tax “holiday” will expire. At the same time, fees for physicians and hospitals providing Medicare services will be severely cut and additional weeks of unemployment benefits for long-term unemployed will run out. It’s not like these expirations were unexpected. These issues have been …
The Keystone XL pipeline, which would bring 700,000 barrels of oil per day from Canada to refineries in Texas and give a major boost to the U.S. economy, is the hot-button issue when it comes to the payroll tax cut package. The legislation says that the President should issue a permit for the construction of the Keystone XL pipeline 60 days after enactment of the legislation unless the President finds that the project is not in the national interest. Representatives Henry Waxman (D–CA) and Ed Markey (D–MA) told Politico that …
