The news is filled with the everyday zigzags of those competing against each other for the Democrat and Republican Party nominations to run for the presidency of the United States. But one of the most important issues receiving little or no attention in this circus of political power lusting is the long-term danger from the huge and rising Federal government debt.
America’s abysmal 0.7% economic growth during the fourth quarter of 2015 meant the annual growth rate was an anemic 2.4% … and average annual growth for the six-year Obama era a pathetic 2.2 percent.
While the vast majority of Americans say that their nation’s not headed in a good direction, there’s a minority that are optimistic about the future. Indeed, author Michael Lotus believes America’s greatest days are yet to come.
Many in the media and some among the voting public are focused, now, on the field of candidates who are offering themselves as the presidential nominees of the Republican and Democratic Parties.
As predicted, President Barack Obama on Friday, November 6, 2015, rejected the proposed Keystone XL oil pipeline from Canada in a victory for environmentalists who campaigned against the project for more than seven years. His reasons include protection of the environment, no “lasting” economic benefits for the U.S., and the current low price of petroleum.
We are currently marking the hundredth anniversary of the fighting of the First World War. For four years between the summer of 1914 and November 11, 1918, the major world powers were in mortal combat with each other. The conflict radically changed the world. It overthrew the pre-1914 era of relatively limited government and free market economics, and ushered in a new epoch of big government, planned economies, and massive inflations, the full effects from which the world has still not recovered.
In today’s edition of The Heartland Daily Podcast, we listen in to part 2 of a conversation between Heartland President Joe Bast, and scholars Angelo Codevilla and Donald J. Devine Ph.D. Codevilla and Devine were both featured speakers at the Heartland Institute’s 31st anniversary benefit dinner. In this conversation, they speak with Bast about their latest books and how the ruling class is distorting the way America was intended to operate.
When is the price of some marketable good or service at or near zero? When either the supply of it is so plentiful that virtually any demand, no matter how great, can be satisfied. Or when no matter how large or small the supply of it may be, people’s demand for it is so low that nobody is willing to practically pay anything for it.
In today’s episode of The Heartland Daily Podcast, Fraser Institute resident fellow Fred McMahon joins managing editor of Budget & Tax News Jesse Hathaway to talk about the newest results of the Canadian think tank’s annual Economic Freedom of the World study.
Our first major clues of the changes our president had in mind were evident in those he chose for his cabinet. Victor Davis Hanson mentioned some of Obama’s questionable liberal choices in an article that described the “worst of the worst.” However, he missed Arnie Duncan, Secretary of Education, who ushered in the controversial Common Core Standards.
Germany and the United States are embarking on two drastically different energy policies, and these countries are reaping dramatically different results. In Germany, the government devised a top-down plan called Energiewende, a term meaning “turn” or “revolution,” intended to make Germany the renewable-energy center of the world. The United States has experienced its own energy revolution thanks to hydraulic fracturing, also known as “fracking,” which has transformed our nation into the largest producer of oil and natural gas in the world in spite of, not because of, the federal government.
For over a decade, now, the American economy has been on an economic rollercoaster, of an economic boom between 2003 and 2008, followed by a severe economic downturn, and with a historically slow and weak recovery starting in 2009 up to the present.
It is time for a new modern book to tell Ayn Rand’s story from Atlas Shrugged and Aldous Huxley’s Brave New World in modern terms. There is no question that todays environmental zealotry which is the theme of a new novel Mountains Whispers, Days Without Sun fills the bill. While Rand told a potentially true story this book updates it into our own future with the built in horrors of Agenda 21.
Most of us feel that time goes by faster as we get older. It does. When you are five years old, one year represents 20 percent of your life. Yet, when you are fifty, that same calendar year is only 2 percent of your life—making that single timeframe much smaller. Those of us involved in fighting the bad energy policies coming out of Washington have a similar feeling: the second term of the Obama Administration seems to be throwing much more at us and at such speed that we can barely keep up. Likewise, they are.
The U.S. territory of Puerto Rico owes more than $70 billion—about $19,729.43 per resident—in debt to creditors and investors. First to note the territory’s fiscal problems were the credit rating agencies, which downgraded the territory’s bond status to “speculative,” the first of three steps along the junk-bond path to loan default.
There is little that happens in society in general and the market economy in particular that most on the political “left” do not think needs more government intervention, regulation, and redistribution to make “better.”
Even with prices 40 percent lower than a year ago, we remain the world’s No. 1 producer of crude oil and other liquid hydrocarbons. Imports of oil have dropped from 60 percent of consumption to about 35 percent just in the past five years. We’re also the world’s largest producer of natural gas.
The final Heartland Author Series event before The Heartland Institute moves its headquarters from One South Wacker Drive, #2740, to its new facility in Arlington Heights was held on Thursday, May 21, from 11:30 a.m. to 1:30 p.m. Featured was Larry Schweikart, who along with co-author Michael Allen, wrote the newly released 10th anniversary edition of “A Patriot’s History of the United States: From Columbus’s Great Discovery to America’s Age of Entitlement.”
I have been wrestling for some kind of explanation why the President of the United States, Barack Obama, would continue to talk about climate change and urge the global transition from fossil fuels to wind, solar and bio-energy. I have concluded that he thinks everyone, not just Americans, are idiots.