How to Hide Billions in Taxpayer Money and Get Away With It

The Treasury is keeping Fannie Mae and Freddie Mac, the taxpayer-backed loan guarantee giants, off the federal budget. How is this possible? In 2008, the government took control of Fannie and Freddie and agreed to shield the entities from bankruptcy. Now that the country has recovered from that housing crisis, and money is coming back in through these government-sponsored entities (GSEs), their true cost remains hidden. ... It’s jaw-dropping that such massive flows of taxpayer money … [Read more...]

Data shows millions of Americans falling out of the workforc

The number of native-born, working-age Americans who aren’t working has shot up by almost 9 million since 2007, and by almost 15 million since 2000, according to a new report by the Center for Immigration Studies, a group that favors reduced immigration. By late 2012, roughly 50 million native-born working-age Americans weren’t working, up from 40 million in 2000, according to the March 13 report, titled “Still No Evidence of a Labor Shortage.” Read more: Neil Munro, The Daily Caller … [Read more...]

Minimum Wage Hike Would Eliminate 500,000 Jobs

Do you agree with this Heritage perspective on the trade-off between a minimum wage hike and job reduction? The work participation rate is at a record low. Might this reduce jobs further? Read more: The Foundry, James Sherk … [Read more...]

Recovering The Habits Of Self-Government

If Hamilton and de Tocqueville are right, then Americans seeking a political reformation in the United States would do well to focus on rebuilding a culture of responsible self-government– recognizing that fundamental changes in the law will follow, more often than lead, the affections of the American people. Read more: The Federalist, David Corbin and Matt Parks … [Read more...]

Cicero and the State of the Union

(Source: Joseph Laconte, The Huffington Post) President Obama likes to refer to himself as a "student of history." As he prepares his State of the Union Address, he might bear in mind the history of another great republic: Rome. Its decline was anticipated by Marcus Tillius Cicero, one of Rome's greatest statesmen. Cicero delivered a speech on Nov. 6, 63 B.C. that surveyed the political and moral landscape of his country -- and found it wanting. Cicero saw a corrupt political … [Read more...]

Acton University: June 18-21, 2013

Acton University is a unique, four-day exploration of the intellectual foundations of a free society. Guided by a distinguished, international faculty, Acton University is an opportunity to deepen your knowledge and integrate rigorous philosophy, Christian theology and sound economics. Click here for more information on how to register. … [Read more...]

Why tax increases don’t work

By Arthur Brooks and Edwin Feulner, USA Today Congress and President Obama are in a stalemate in negotiations over the "fiscal cliff." If Congress fails to act, most Americans will pay higher taxes and the federal government will cut spending on Jan. 1. At the root of this impasse is the president's dogged insistence that raising marginal tax rates on the wealthy must be at the center of any solution. Given the enormity of the budget gap, why would anyone object to this? Because research, … [Read more...]

Obamacare’s new tax on health insurance

(Source: The Examiner) "We have to pass the bill so that you can find out what is in it," then-House Speaker Nancy Pelosi, D-Calif., famously said of Obamacare. This seems more and more like an understatement as fresh facts dribble out about President Obama's national health care law. Now that the election is out of the way, the Obama administration is able to reveal more about its regulatory plans for implementing that law. On Friday, the Department of Health and Human Services released … [Read more...]

Can Capital Markets Be Moral?

Rev. Richard Higginson explains how we should rethink our capital system to avoid problems like the financial crisis. His five part plan includes: rediscovering capital virtues like moderation and prudence, adopting sound policy like reducing debt and spreading risk, reviewing the purposes and scrutinizing the practices of banking by a reputable international body, continuing to invest and give as a sign of hope, and considering long-term investments in ethical enterprises rather than simply … [Read more...]

Is the fiscal cliff a $600 billion bluff by Obama?

(Source: James Pethokoukis, Image Credit: Nick Knupffer (Flickr) (CC BY-SA 2.0) “President Obama’s commitment to top marginal rate increases is unshakable,” financial executives with the (supposed) inside White House skinny tell Politico’s Ben White. And Erskine Bowles is telling folks this morning that “the probability is we’re going over the cliff,” at least initially. So, clearly, a reelected President Obama is not to be trifled with, and the GOP must cave … [Read more...]