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    Look Closer: Tax Increases, Not Spending Cuts, Are the Harmful Austerity

    Proponents of government spending want to use the recent history of Europe as evidence that spending cuts are harmful, but their arguments lose traction when one looks closely at the data. One example comes from Paul Krugman, who used the International Monetary Fund’s Fiscal Monitor data to argue that “austerity … More

    Americans Don’t Need More of Obama’s Stimulus Spending

    In a series of campaign-style speeches, President Obama has laid out recycled economic proposals, which include yet another tax increase to pay for $50 billion in new infrastructure stimulus spending. This after Washington already spent $70.6 billion under the American Recovery and Reinvestment Act in 2009. The trouble is that … More

    For the Record: Tax Increases Are Harmful, but Europe Has Pursued Them Anyway

    Heritage economist Salim Furth gave testimony last week to the Senate Budget Committee, reminding the Senators that economic research shows that deficit reduction should be pursued through spending cuts, not tax increases. Now he has responded to written questions in detail and explored the exemplary 1990s budget cuts. There is … More

    Treasury Employs Extraordinary Measures to Spend Beyond Debt Limit

    After hitting the debt limit on March 19, the Treasury Department under Secretary Jack Lew is now employing its toolset of “extraordinary measures” to continue deficit spending without legally breaching the debt limit. It will provide about $260 billion in borrowing capacity, which should last beyond at least Labor Day, … More

    Taxpayer-Funded Infrastructure Bank: The "Investment" Isn't Worth It

    Bad ideas never seem to die. But the proposal to create a national infrastructure bank to federally fund transportation and infrastructure projects with taxpayer dollars is one such idea that President Obama and lawmakers in the 113th Congress should put to rest. A recent Politico article noted that the departure … More

    Obama Inauguration Speech: More Transportation “Investment”

    President Obama hinted toward at least one aspect of his second-term agenda during yesterday’s inaugural address: more transportation “investment.” No surprise there. Obama’s past budget requests, State of the Union speeches, and the American Jobs Act of 2011 plan have all been peppered with calls for increased federal spending on … More

    Continual Keynesian Collapse

    The Keynesian policy of trying to increase total i.e. “aggregate” demand – either by having government spend, or by cutting taxes just to leave more money in people’s pockets in hopes that they’ll spend – to revive the economy, never works. The latest installment of Keynesian failure is the payroll … More

    In the Green Room: MEP Daniel Hannan

    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 … More