North Korea’s official media announced that Kim Jong-il, the country’s long-time leader, died on Saturday of “physical and mental overwork.” Although Kim had several health problems, particularly after a stroke in August 2008, he had appeared vibrant in recent meetings. As such, the surprise development raises concerns about its impact on Pyongyang’s ongoing leadership transition, […]
In his recent speech in Kansas, President Obama accused Republicans of advocating “you’re on your own economics”—a philosophy that supposedly holds that “we are better off when everyone is left to fend for themselves and play by their own rules.” The implication is that unless you favor raising taxes and levying stricter economic regulations, Obama […]
Few people have been more vocal about the challenges facing offshore drilling in the Gulf of Mexico than Sen. David Vitter. As a Republican from Louisiana, Vitter has firsthand knowledge of the Obama administration’s slow pace of permitting since last year’s oil spill. Louisiana has yet to fully recover from the drilling moratorium and the […]
For the last three months, the village of Wukan in Guangzhou, China, has been the scene of unrest. Locals were outraged that, for years, their lands were often being sold from under them by village officials. When petitions to provincial-level authorities brought no relief, they began to stage public protests, which in turn were met […]
ATLANTA (AP) — Nearly half of America’s public schools didn’t meet federal achievement standards this year, marking the largest failure rate since the much-criticized No Child Left Behind Law took effect a decade ago, according to a national report released Thursday. The Center on Education Policy report shows more than 43,000 schools — or 48 […]
Senate Majority leader Harry Reid (D–NV) drifted off to fairy-tale world this week and dreamed up some statistics as he did. On the floor of the Senate, Reid said the following: Many of our job creators are like unicorns—they’re impossible to find and don’t exist. That’s because only a tiny fraction of people making more […]
The House mega-omni—the massive nine-bill appropriations package now moving toward a vote in the House—represents another disappointing failure to cut spending and prove Congress can instill some measure of fiscal discipline. Equally troubling: The procedure for considering the legislation allows everyone to vote for something he likes, while taxpayers pick up the tab. The main […]
Well, we can’t say he didn’t warn us. After the November 2010 elections when the President’s party lost control of the U.S. House, Barack Obama told America that where he can’t legislate, he will regulate. In the last year, he lived up to that pledge, and now he’s promising to do even more of it in 2012. […]
In this week’s Heritage in Focus, expert Ray Walser discusses the increasingly anti-U.S. policies in Latin America. PODCAST: Terrorism in Latin America Threatens U.S. In the past decade, Iran has increased its influence in Latin America. Considering Iran’s long history of bad actions, this increased activity in the Western Hemisphere should give Americans pause. This year […]
Because the concept of opportunity cost is fundamental to all of economics, it is covered in the first chapter of every principles-of-economics textbook. Opportunity cost tells us what we give up when make decisions on consumption and production. There are no free lunches. In spite of the universal agreement on the importance of opportunity cost, […]
