An electric truck manufacturer that was awarded $32 million from President Obama’s stimulus program has informed one of its investors that it is on the verge of bankruptcy, if it did not raise $4.5 million by Friday and $10 million by the end of October.
There is no way to describe current Federal Reserve policy other than as monetary confusion and misdirection. In a nutshell, Janet Yellen and the other members of the Fed’s Board of Governors have no idea what to do. Do they raise certain interest rates over which they have some direct influence? Do they keep them at their current rock bottom levels, as they have for the last six years?
By following through on entitlement reforms started in the 1990s, Congress can defuse a ticking entitlement-spending time bomb and allow states to lead the way on holding costs down and better serving taxpayers.
Washington, D.C. is a dysfunctional mess. Just about nothing gets done unless it absolutely has to get done. And when things do get done – they are just about always horrible. Bigger and bigger government, over and over again, as far as the eye can see.
Five federal employees were charged in August with theft and fraud for falsifying documents to qualify their children for free lunch at Prince George’s County, Md., public schools. The alleged fraudsters — all employees of the Government Accountability Office — were discovered after an audit into the National School Lunch Program by the very federal agency for which they work.
Labor unions are fighting hard to maintain the power to force people to join unions as a condition of work. In June, Gov. Jay Nixon, Missouri Democrat, vetoed a bill banning forced union membership and forced union dues payments in the workplace, and the legislature just upheld his veto.
Chicago is facing an unprecedented budget crisis thanks to a massive increase in pension payments. In order to solve the problem, Chicago’s mayor Rahm Emanuel has proposed the largest property tax increase in city history.
As is clear from the rise of Donald Trump, Ben Carson, and Carly Fiorina in the Republican presidential primaries and the groundswell of support for socialist Bernie Sanders among Democrats, a large portion of the American public has become fed up with the national government’s apparent takeover by powerful special-interest groups. Each new day brings another story of bad legislation and worse court decisions giving certain classes of people advantages denied to the rest of the people.
Lawmakers in Congress introduced a plan to apply sales taxes to Internet purchases, hoping this time they’ve ironed out the problems that scuttled previous attempts. They haven’t, and this attempt at grabbing e-commerce tax revenue has the same flaws as previous attempts.
In today’s episode of The Heartland Daily Podcast, managing editor Jesse Hathaway talks with Mercatus Center monetary policy program director and Bentley University economics professor Scott Sumner about the American stock market’s recent up-and-down volatility, the increasing threat of an international economic recession, and how our country’s centralized banking policies make the problem worse.
In today’s edition of The Heartland Daily Podcast, Budget & Tax News managing editor Jesse Hathaway speaks with Rebecca Friedrichs, a California teacher who’s going all the way to the Supreme Court of the United States to fight for her (and other teachers’) protection against compelled speech and involuntary association by labor unions.
Obama’s use of the unemployment rate as a weapon to inflict political damage on Republicans is nothing new. For most of Obama’s presidency, he’s been touting his economic policies and how successful they have allegedly been at reducing unemployment rates (when in fact all recession recoveries reduce unemployment rates), all the while intentionally misleading people about what the unemployment rate actually represents.
In today’s edition of The Heartland Daily Podcast, Budget & Tax News managing editor Jesse Hathaway speaks with Manhattan Institute for Policy Research fellow Jared Meyer. Meyer and Hathaway talk about New York City mayor Bill DeBlasio’s “war on Uber,” and how the city can reduce traffic deaths by reducing regulations on taxicabs and ridesharing companies.
In this episode of the Budget & Tax News podcast, Jesse Hathaway, managing editor of Budget & Tax News speaks with James Roberts. Roberts is an economic research fellow at the Heritage Foundation. Roberts joins Hathaway to talk about Greece’s economic collapse, the “Grexit,” and how problems in the European Union may effect Americans.
It is seventy years, now, since near the end of the Second World War Austrian economist, and much later Nobel Prize winner, Friedrich A. Hayek published his most famous article, “The Use of Knowledge in Society,” in September 1945, demonstrating why it is impossible for a system of socialist central planning to effectively manage a complex and ever-changing economy better than a functioning, competitive free market order.
“Trade Wars” actually aren’t about trade — they are about government trade policy. If peoples are trading freely, there isn’t a “War” – there’s commerce. The “Wars” only happen when governments get involved, placing tariffs, regulations and subsidies in the way of the flow.
There are currently four patent “reform” bills being considered by Congress. Patents are a way innovators protect their ideas – which is how we as a society protect our continued economic viability. If people who invent cool stuff can’t protect their cool stuff from thieves – they’ll stop inventing cool stuff.
In today’s edition of The Heartland Daily Podcast, Jesse Hathaway, managing editor of Budget & Tax News speaks with John Berlau. Berlau is a senior fellow at the Competitive Enterprise Institute. Hathaway and Berlau talk about the U.S. Department of Labor’s proposed conflict-of-interest rule, a regulation on retirement investment brokers that would put professional investment advisors out of the reach of millions of investors, and rack up billions of dollars in compliance costs.
On May 12 and 13, Chicago received a series of downgrades in its credit ratings for the city itself, the Chicago Board of Education (CBE), and the Chicago Park District. The downgrades began Moody’s Investors Service’s (MIS) decision to lower Chicago’s credit rating two notches to the noninvestment-grade “Ba1” level with a negative outlook. The embarrassment continued the next day when the CBE and Chicago Park District ratings dropped three notches to junk levels.
A new economic “scoring” policy at the Congressional Budget Office (CBO), so-called “dynamic scoring,” may dramatically impact Obamacare, revealing further financial flaws in the already controversial healthcare entitlement program. Presently,[…]