Does unprecedented deficit-spending such as on highways stimulate the economy? For the last few years, some have argued it could. Some have argued it might. Some have argued it would if done right. We have consistently argued that deficit spending on highways or anything else intended to lift aggregate demand, and therefore jobs, must and […]
At the EU summit meeting in Brussels on Friday, all countries in the union, with the exception of the United Kingdom and the Czech Republic, signed a fiscal governance pact that would compel the signatories to incorporate the principle of a balanced budget into national law. Countries that flouted the rules and ran up a […]
There were plenty of lessons to learn after the financial crisis of 2008. Unfortunately, neither Congress nor the Obama Administration was willing to take the time to learn them. Instead, they acted before they understood the causes of the crash or what to do to avoid similar bailouts in the future. The result was the […]
As China prepares for the final plenum of the 17th Party Congress, it has announced that the new defense budget would amount to 670 billion RMB (approximately $106 billion), which equates to a 11.2 percent increase. This is in sharp contrast to the United States, which, despite a so-called “pivot to Asia,” is busily reducing […]
Education Secretary Arne Duncan’s comments last week, in which he equated state lawmakers who question the Common Core national standards push with conspiracy theorists, are another indication that the Common Core Initiative is not the states-based movement the Administration claims it to be. Indeed, national standards have become the cornerstone of the Department of Education’s […]
Once again, President Barack Obama has proposed lowering the income tax deduction for charitable giving. In his proposed budget for fiscal year 2013, the President calls for reducing the charitable deduction rate from 35 percent to 28 percent for those in the top tax bracket (individuals making $200,000 or more or families making $250,000 or […]
The price of gas is a widely covered news item these days. Oil prices have moved up from $75 a barrel in October of last year to more than $100 a barrel currently. And the trend continues to point toward even higher oil prices. Of course, along with the price of oil, gas prices have […]
Britain’s Liam Fox has a warning for America: Fix the debt problem now or suffer the consequences of less power on the world stage. The former U.K. secretary of state for defense visited Heritage to explain why the America’s debt is a national security issue. Watch the full 45-minute speech, “Warning to a Superpower” [youtube […]
The World Bank’s latest report sounds a warning on China’s future economic growth, reiterating critical recommendations concerning the Chinese economy by The Heritage Foundation’s Index of Economic Freedom. The report makes a strong case that, if China is to keep up growth rates at even half the level it has managed over the past 30 […]
Talking about his health care law, President Obama has said, “If you misrepresent what’s in this plan, we will call you out.” In keeping with that spirit, below is a list of Obamacare’s top five biggest broken promises: 1.) “If you like your health care plan, you’ll be able to keep your health care plan, period.” […]
