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$1.2 Billion in Cash Goes to Energy Projects, Despite Sequestration
Rainer Jensen/dpa/picture-alliance/Newscom 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...
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Budgets in Comparison: Will President Obama’s Budget Save the American Dream?
Douglas Graham/CQ Roll Call Photos/Newscom When the President’s budget comes out Wednesday, it will complete the last piece of the budget puzzle, as the House and Senate have each duly passed a budget...
View ArticleThe Obama Budget: Heritage Experts’ Analysis
Minimum Wage President Obama’s budget proposes raising the minimum wage to $9 an hour. This would hurt the very workers the President wants to help. When the price of something rises, people—both...
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Morning Bell: 5 Things to Know About the Obama Budget
President Obama finally released his budget yesterday—more than two months late. Heritage experts immediately went to work analyzing the mounds of new spending on education, manufacturing, “clean...
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Meretricious? Senator Whitehouse Is Projecting
Credit: Michael Bryant/MCT/Newscom Senator Sheldon Whitehouse (D-RI) spent eight minutes berating me at a Senate Budget Committee hearing yesterday. He disliked the facts I presented on austerity, so...
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Austerity and Stimulus: A Response to The Washington Post
Journalists should check with both sides before committing pen to paper, especially those at respectable outlets like The Washington Post. It would have served Post reporter Dylan Matthews well if he...
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For the Record: Tax Increases Are Harmful, but Europe Has Pursued Them Anyway
Dr. Salim Furth at a Senate Budget Committee Hearing. Heritage economist Salim Furth gave testimony last week to the Senate Budget Committee, reminding the Senators that economic research shows that...
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China’s Financial Quandary: Get Used to It
View Stock Stock Connection USA/Newscom The finance media are discovering that China has trapped itself with bad monetary policy, joining a long list of countries in this situation. The media should...
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Cut Government Spending to Help the Economy? Majority Say Yes
Newscom A recent Rasmussen poll (subscription required) found that 65 percent of likely voters want the government to cut spending to help alleviate the country’s economic woes. Four years after the...
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Greece: Austerity Doesn’t Involve Public-Sector Layoffs
imago stock&people/Newscom Slate’s Matthew Yglesias might be attacked as an “austerity denier” now that he has joined Heritage’s Salim Furth in pointing out that there is a lot of policy diversity...
View ArticleANALYSIS | Obama’s Economic Speech: Another Summer Rerun
President Obama traveled to Illinois today to give the same tired, worn-out economic speech he’s been giving for almost five years now. Rather than offering new solutions that could revive the dormant...
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Sequestration Helps Force Needed Spending Cuts and Enables Private-Sector Jobs
Newscom The Congressional Budget Office (CBO) released a letter this week describing how canceling sequestration in 2014 would affect the economy. The CBO dutifully plugged the numbers into its...
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Obama’s New “Grand Bargain” Is Another Tax Increase
Jewel Samad/AFP/Getty Images President Obama gave his second in series of summer speeches on the economy today. Like his first speech last week, he recycled several old policies that he’s trotted out...
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Obama on Infrastructure: Wrong Again on Government “Investments”
Newscom In yet another summer speech on the economy yesterday, President Obama trotted out familiar tax-and-spend ideas, this time pairing his latest call for a tax increase with his familiar call for...
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900,000 Reasons Obamacare Is Bad: Moving Americans from Work to Welfare
Newscom Obamacare is not only hurting small businesses and economic growth. It might also give nearly a million low-income individuals a reason to leave work for welfare. A new study from the National...
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“Buy American” Laws: An Illusion of Patriotism
Newscom Who could oppose “Buy American” measures that appear to support American manufacturing and create jobs? On the surface, that’s what the All-American Flag Act seems to do. But on closer...
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Americans Don’t Need More of Obama’s Stimulus Spending
Newscom 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...
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Don’t Ignore Costs of “Stimulus”
Newscom Shocking new economic research has shown that receiving large gifts from the federal government is actually beneficial to states. That is not such a shock, is it? Another non-shock is that...
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Poll Reveals “A Nation Confused” on Common Core National Standards
Newscom A bundle of federal incentives encouraged 45 states to adopt Common Core national standards and tests. But a new poll shows that most Americans have no idea what the Common Core is—even though...
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Japan’s Revolving Door Tax
YOSHIKAZU TSUNO/AFP/Getty Images/Newscom Prime Minister Shinzo Abe is likely to increase Japan’s sales tax from 5 percent to 8 percent next year. Abe and his close ally Haruhiko Kuroda, head of the...
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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...
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The Story on November’s Food Stamps “Cuts”
Newscom The latest buzz about food stamps is that benefit amounts will be “cut” beginning November 1. But what is this “cut”? Basically, it’s the benefit amount returning to the level it would have...
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Farm Bills Would Cost More Than Obama Stimulus
The House and Senate are considering farm bill legislation this week whose costs should raise red flags for all Americans. In fact, the House and Senate versions of the bill would cost far more than...
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Tax Revenue Rose Five Times Faster Than Spending Fell in 2013
Glow Images/Newscom The monthly Treasury statement of the actual budget figures for 2013 this week shows tax revenue rising five times faster than spending fell in 2013. Taxes revenue climbed by 13.2...
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European Central Bank Lowers Interest Rates, Trumping “Zero Lower Bound” Theory
Design Pics / Peter Langer/Peter Langer/Newscom The European Central Bank (ECB) lowered a key interest rate to 0.25 percent on Thursday. This is a big deal, since it demonstrates that the ECB has the...
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How President Obama Is Killing Jobs
AFP PHOTO/Brendan SMIALOWSKIBRENDAN SMIALOWSKI/AFP/Getty Images Five years on and President Obama still refuses to assume responsibility for his woeful economic record. The buck stops with Republicans,...
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White House Still Defending Failed Stimulus Plan Five Years Later
Pete Souza Five years later, it is obvious that President Obama’s stimulus was a failure. This week marks the fifth anniversary of Obama’s 2009 stimulus plan, a $763 billion package of increased...
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CBO Again Repeats Faulty Methodology to Estimate Impact of Stimulus
Congressional Budget Office Director Douglas Elmendorf / Chip Somodevilla There they go again. The Congressional Budget Office (CBO) just released yet another report on the beneficial impacts on the...
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Paul Krugman: Selective Data Usage
Paul Krugman, in the words of a former New York Times public editor, “has the disturbing habit of shaping, slicing and selectively citing numbers.” Most recently, he selectively cited numbers about...
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5 Years of Obama: The Real Story
Then-Sen. Barack Obama (D-Ill.) campaigning for his presidential campaign in 2008. (Photo: Newscom) Considering the country’s weak economic growth of just 0.1 percent last quarter, it is worth...
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