Policy Papers
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The Obama Economy: Underperforming Again
Today we learned the U.S. economy has continued its weak and uncertain recovery under President Obama. Real GDP grew at an annualized rate of 2 percent in the third quarter of 2012. Since exiting recession in 2009, President Obama’s policies have led to slower real growth every year: 2010 real growth was 2.4 percent 2011 real growth was 1.8 percent 2012 real growth in the first three quarters has been 2 percent, 1.3 percent, and 2 percent (average of 1.7 percent). The third quarter number... Continue Reading
October 19, 2012
Ten National Security Questions for President Obama
Below is a list of topics on national security President Obama should address: Debt: When Admiral Mike Mullen was the Chairman of the Joint Chiefs of Staff, he said our national debt was the greatest threat to our national security. Mr. President, you promised to cut the deficit in half by the end of your first term. Instead you have had four years of deficits more than a trillion dollars each year, adding more than $5 trillion to our national debt since you took office. Your budgets are... Continue Reading
October 17, 2012
Obama’s Green Energy Bets Keep Coming Up Short
“The only problem we have is these credits were working so well, there aren’t enough tax credits to go around.” – President Obama, July 9, 2010 Yesterday, battery maker A123 Systems declared bankruptcy. On Monday, Fisker Automotive, an A123 Systems customer, delayed production of its $55,000 mid-size gasoline-electric sedan by at least two years. President Obama’s deployment of taxpayer funds to pick winners and losers in the global energy economy is terrible... Continue Reading
October 17, 2012
Libya: An Ever-shifting Narrative
Given the recent confusion over the facts, it might be useful to review a timeline of the Obama Administration’s ever-shifting narrative regarding the September 11th murder of U.S. Ambassador to Libya Chris Stevens and three other Americans. In the preceding months, the U.S. embassy twice asked for more security in Benghazi (March and July). The consulate was attacked twice previously (April and June). September 10 Al-Qaeda leader Ayman al-Zawahiri calls for revenge of the death of... Continue Reading
October 12, 2012
Biden Foreign Policy Claims Belied by the Facts
Though long on rhetoric, Vice President Biden’s foreign policy claims are undermined by actual facts and practice. Libya Claim: In likely the most outrageous claim of all, most clearly belied by facts revealed just 24 hours earlier, Vice President Biden claimed “we weren’t told they wanted more security [in Benghazi, Libya]. We did not know they wanted more security there.” Facts: According to one media analysis: “On Wednesday, two former security officials in Libya... Continue Reading
October 5, 2012
September 2012 Unemployment Report
September 2012 Unemployment Rate: 7.8 percent Unemployed Americans: 12.1 million “Real” Unemployment The “real” unemployment or U-6 rate is 14.7 percent for September 2012, which is unchanged from August. This is the total percentage of unemployed workers, plus marginally attached workers and people who are working part time for economic reasons. The... Continue Reading
September 21, 2012
Preserving the Integrity of the Electoral Process
“The electoral system cannot inspire public confidence if no safeguards exist to deter or detect fraud or to confirm the identity of voters.” -- Carter-Baker Report on Federal Election Reform The right to vote encompasses two critical considerations: (1) that voters have access to the ballot; and (2) that lawful votes are not diluted by those cast fraudulently. These are not competing considerations. By preventing or detecting fraud with a photo identification voting requirement,... Continue Reading
September 19, 2012
Democrats Steer America Toward a “Fiscal Cliff”
The Democrat Senate during the first session of the 112th Congress (2011) was among the “laziest in 20 years,” in terms of productivity (days and hours in session). Through the first 263 days of this year (through September 19), the Senate has been in session only 107 days, and Senators have gone to the floor to vote on just 65 days. Majority Leader Reid has indicated that he intends to put off many important issues until after the election—during the lame duck session. If the... Continue Reading
September 19, 2012
Territorial vs. Worldwide Taxation
“The nation should have a tax system that looks like someone designed it on purpose.” – William Simon, former U.S. Treasury secretary In the ongoing debate over how to reform our tax system, one important question involves how to treat income U.S. corporations earn from their work overseas. This paper examines the two major ways countries answer this question: territorial and worldwide tax systems. How Worldwide Taxation Works The U.S. has a worldwide tax system.... Continue Reading
September 19, 2012
The Failure of Obama’s Personal Diplomacy
The 2008 Obama-Biden Plan on foreign policy compares poorly to the 2012 results of the Obama-Biden administration. Standing in the World. “Barack Obama and Joe Biden will renew America’s security and standing in the world through a new era of American leadership.” Anti-American protests have now spread to 33 countries in the world. Resetting Relationships. “Obama and Biden . . . will signal that America is ready to come to the table and is willing to lead. And if... Continue Reading
September 13, 2012
QE3 Could Hurt in the End
Today the Federal Reserve’s Federal Open Market Committee announced that it would initiate a third round of quantitative easing, or “QE3,” by purchasing $40 billion of mortgage-backed securities per month on an open-ended basis. Since 2008, there have been five major Fed policies that have attempted to spur the economy with little success: QE1 – $600 billion of quantitative easing announced in November 2008; QE2 – Another $600 billion of easing announced in... Continue Reading
September 11, 2012
Obama Economy Fails Iraq and Afghanistan Veterans
President Obama promised to create jobs and improve the economy. Three and a half years of his policies have left those promises unfulfilled for the economy as a whole, and for veterans returning from the Iraq and Afghanistan wars specifically. Unemployment Rate for Iraq and Afghanistan Veterans Source: Bureau of Labor Statistics Labor Market Activity for Gulf War II Era Veterans Source: Bureau of Labor Statistics / RPC Calculations Failed Policies for America’s Veterans In February... Continue Reading
September 11, 2012
Obama’s Medicare Reform Plan: Do Nothing
President Obama knows that the Medicare program is on a swift path to bankruptcy. He admits it. Instead of proposing bipartisan solutions that reform and strengthen Medicare, the President chooses to do nothing. Even President Obama’s own fiscal commission co-chairs registered disappointment in his September deficit reduction outline. Erskine Bowles and Alan Simpson said the President should “support real savings in entitlements that deal with long-term costs.” President Obama... Continue Reading
September 11, 2012
Gas Prices Rise, Obama Recycles Political Tricks
An estimated 33 million Americans traveled over Labor Day weekend, including 28.2 million by car who paid the highest gas prices ever during this holiday. On Labor Day, one gallon of regular gasoline averaged $3.80, a full 12 cents higher than the previous holiday record. Over August, drivers suffered through a 31 cent surge in the pain at the pump to $3.83 per gallon, capping off a period in which gas prices increased 54 out of 60 days. From August to September, Americans endured three weeks of... Continue Reading
September 7, 2012
August 2012 Unemployment Report
August 2012 Unemployment Rate: 8.1 percent Unemployed Americans: 12.5 million Employment The Department of Labor reported an unemployment rate of 8.1 percent for August 2012, which is a decrease of 0.2 percent from July, and an increase of 96,000 nonfarm jobs. Most of the new jobs were in food services, professional and technical services, healthcare, utilities, finance and insurance, and wholesale trade. This makes 43 straight months under President Obama with unemployment... Continue Reading
August 22, 2012
Obama on the Deficit: Gimmicks Not Solutions
Today the Congressional Budget Office released its updated Budget and Economic Outlook. CBO reports that going over the “fiscal cliff” will cause a recession: Negative economic growth of 0.5 percent from the fourth quarter of 2012 to the fourth quarter of 2013. Unemployment will reach 9.1 percent in the fourth quarter of 2013. President Obama has offered no plan to deal with the sequester, the spending side of the fiscal cliff. In fact, the President pledged to veto efforts to... Continue Reading
August 7, 2012
Obama Undermines Clinton Welfare Reform
Where does the road end with President Obama's operating above the law? Recently, he even went so far as to attack the signature legislative achievement of another Democrat President, the bipartisan 1996 reform law that President Clinton said would end "welfare as we know it." On July 12, the Obama Department of Health and Human Services (HHS) issued guidance saying that it will issue waivers for the welfare law's mandatory work requirements -- even though the Department has no authority to do... Continue Reading
August 3, 2012
July 2012 Unemployment Report
July 2012 Unemployment Rate: 8.3 percent Unemployed Americans: 12.8 million Employment The Department of Labor reported an unemployment rate of 8.3 percent for July 2012, which is an increase of 0.1 percent from June, and an increase of 163,000 nonfarm jobs. Most of the new jobs were in professional and business services, manufacturing, health care, and wholesale trade. This makes 42 straight months under President Obama with unemployment over 8 percent. The economy lost 316,000 net jobs since... Continue Reading
August 2, 2012
Health Law “Exchange”: Less Choice, More Washington Control
The President's health care law requires every state to establish a health insurance exchange that meets specific federal mandates and standards. If a state decides not to build its own exchange, then Washington will step in to establish a federally run exchange in that state starting January 1, 2014. People whose employers do not offer government approved insurance will be forced to buy coverage through these exchanges. While the Obama Administration has failed to release specific details... Continue Reading
August 2, 2012
Obama WARN Act Guidance Bypasses Federal Law
Only a small number of legislative days remain for this Congress. The most pressing issue for it to address is the impending fiscal cliff in January — a combination of automatic cuts in federal spending, known as a "sequester," and tax increases. Yet, in a move that is becoming all too common for this President, instead of working with Congress to deal with that issue, the Obama Administration issued guidance that will bypass Congress and existing federal labor law for the... Continue Reading