President Reagan once said, “The nearest thing to eternal life we will ever see on this earth is a government program.” The omnibus budget package being negotiated on Capitol Hill is a perfect example.
Florida’s citrus harvest has plummeted 60 percent from ten years ago, because of citrus greening disease, a bacterial infection that causes trees to produce stunted fruit and eventually die. The disease has also been found in one Los Angeles area orchard, potentially putting California’s citrus groves at risk. Billions of dollars and thousands of jobs are at stake.
Oreos have been for years made in Chicago, Illinois (and several other American cities). Mondelez International, Inc. – the company that delivers us the chocolatey, spherical goodness – announced they would make their next wave of Oreo manufacturing investment not in Chicago, but in Mexico. This move will reduce – not end – Chicago’s role in production. Jobs in the Windy City will be halved – from 1,200 to 600. (Other cities will continue their current roles.)
A recently released study claiming to have found a statistical association between hydraulic fracturing and hospitalization rates in Pennsylvania has been popular in the news. However, just about every aspect of this study is problematic, rendering it to the realm of speculation, not science.
Paring it down to size will require a death by a thousand cuts, which, in environmental and energy policy, may have begun with the passage of the Cromnibus budget bill in late 2014. The Cromnibus might mark the beginning of a slow reduction of the federal government’s overreach in environmental issues.
The Environmental Protection Agency’s new Clean Power Plan (CPP) requires that states reduce their electric utility sector carbon dioxide emissions an average of 32% below 2005 levels by 2030. EPA twisted 80 words in the Clean Air Act into 1,560 pages of regulations (plus appendices) demanding that utilities return CO2 emissions almost to 1975 levels, while our population grows by 40 million.
The plan will result in higher electricity costs for businesses and families, lost jobs, lower incomes, higher poverty rates, reduced living standards, and diminished health and welfare, our exhaustive recent study found. This damage will be inflicted at the national level and in all 50 states. The CPP will impact all low-income groups, but hit America’s 128 million Blacks and Hispanics especially hard.
The world’s two leading Global Cities, London and New York are, according to most indicators, remarkably similar in their patterns of regional commuting. This is the conclusion from our recent review of commuting in London and commuting in New York. This analysis contrasts the results between the London Area (Greater London Authority, East and Southeast regions) and the New York combined statistical area, which stretches from New York state, to New Jersey, Connecticut and Pennsylvania.
There is a bill under consideration in the Minnesota Legislature that, unfortunately, is not likely to become law. The bill would change teacher tenure in the state and replace “last in, first out” practices regarding teacher layoffs. If passed, the legislation would effectively force school boards to judge teachers based on performance when layoffs occur, rather than seniority alone.
Keynesians never seem to learn. Every time an economy slows down or reverses gears and “goes negative,” in terms of growth and employment, their only answer is a call for “aggregate demand” stimulus and more government spending manipulation.
How much more ObamaCare failure must mount in a titanic heap – before Congress decides to get more involved? A Congress given in 2014 a bi-cameral, bigger and deeper Republican majority – because of ObamaCare.
Old fallacies never seem to die, they just fad away to reemerge once again later on. One such fallacy is that if there is significant unemployment and slow economic growth it must be due to not enough consumers’ spending in the economy, what Keynesian economists call a “failure of aggregate demand.”
At a time when the Louisiana legislature is facing a $1.6 billion budget shortfall with massive cuts in important programs like healthcare and education as a solution, legislators realize tough decisions have to be made—even when the choice may anger advocates who depend on the handouts they claim are essential for survival.
Commenting on the rioting in Baltimore, the Wall Street Journal’s Daniel Henniger was almost to the end of his April 30 text when he said “On Wednesday morning, the year’s first-quarter GDP growth rate came in—0.02%. Next to nothing. For the length of the Obama presidency, with growth significantly below norm, unemployment for blacks aged 24 and younger has hovered between 30% and 40%. That’s the real powder keg, not the police.”
Obamacare recently passed the five-year milestone, and etiquette would suggest an anniversary gift is in order for the politicians who passed and implemented the law. The traditional gift for five-year anniversaries is wood, and the more modern gift is silver. In this case, I’d recommend silver pieces – more than 29 but fewer than 31 – in light of the betrayal against American workers this law represents.
They say politics makes strange bedfellows. In a perfect example, U.S. Senators Dianne Feinstein (D-CA) and Pat Toomey (R-PA) are cosponsoring the “Corn Ethanol Mandate Elimination Act,” to abolish the corn ethanol Renewable Fuel Standard (RFS), which requires that increasing volumes of this biofuel be blended into gasoline. Let’s hope it passes, as an amendment or stand-alone bill.
Last week, Heritage Foundation President, Jim DeMint and Heritage Action for America Chief Executive Officer, Michael Needham led a discussion at Chicago’s Ritz Carlton. Their topic was “A Bold Agenda for a Better America: Taking on the 114th Congress”, as a way to deliver opportunity to all, but favoritism to none.
For decades, the quality of life of the incoming generation of Americans has built on and improved on that of the previous generation. According to new data released by the United States Census Bureau, however, that is not the case for the current incoming generation, the Millennials. They have government to blame for their rotten economic conditions.