The world’s second-largest reinsurer, Swiss Re, reports “that natural catastrophes and man-made disasters cost the insurance industry $77 billion in 2012.” The report noted this figure covered “more than 300 catastrophes and disasters caus[ing] the loss of 14,000 lives and $186 billion.” These disasters included many of the 112 events …
Despite a fiscal cliff and sequestration worries, more than $1.2 billion in cash payments for energy projects (in lieu of tax credits) have been issued by the Department of Treasury and Department of Energy since January 1, according to documents from the U.S. Treasury. Through February 14, $1,254,769,726 was distributed …
As if we didn’t have enough to worry about, earlier this month an official from the U.S. Department of Commerce (USDOC) warned that many activities at USDOC—such as the activities of the USDOC’s International Trade Administration (ITA) and the U.S. Foreign Commercial Service—will have to be scaled back due to …
Senator Patty Murray’s (D–WA) budget tax plan directly calls for $975 billion in new tax increases over the next decade. Indeed, the Senate budget is only a framework document, but it clearly lays out who should pay the higher taxes. The Democratic majority wants higher taxes by “eliminating loopholes and …
If the Obama Administration is looking for places to make sequestration cuts, it can start with the Economic Development Administration (EDA). In late August 1965, less than a month after terrible riots in the Watts section of Los Angeles, Congress passed and President Lyndon Baines Johnson signed a bill establishing …
Sequestration has taken effect, and yet government spending continues growing. Sequestration’s 2.4 percent reductions are not enough to fix Washington’s spending and debt problem because they do nothing to reform entitlement programs, whose costs will grow rapidly with America’s aging population. As more Americans age and retire, more Americans will …
Senator Jim DeMint, the president-elect of The Heritage Foundation, apparently has a crystal ball. This morning he predicted that Obama would use the sequester as a smokescreen: So why is President Obama leading a scare campaign filled with untruths about how sequestration will necessitate firing firefighters, cops, and teachers? I’ll …
Thursday was a really bad day for the Indian economy. Gross domestic product (GDP) growth for the October–December quarter came in at 4.5 percent, continuing to weaken. Worse, the central government budget for the next fiscal year leaves India on the same, failing course it’s been on of undisciplined spending …
