Policy Papers
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“2012 Long-Term Budget Outlook”: It’s Bad
This week the Congressional Budget Office (CBO) released “The 2012 Long-Term Budget Outlook,” its annual report that outlines the nation’s long-term fiscal health. The CBO’s “alternative fiscal scenario” calculates current policies that will likely continue. Key findings are: The debt leads to lost income and lower economic productivity. The debt will be twice the size of the U.S. economy by 2037. Spending on major health care programs will double, to 10... Continue Reading
June 5, 2012
“Recovery Summer”: Another Season of Stagnation
In June 2010, the White House announced “Recovery Summer.” The campaign was an effort to convince Americans that the Obama Administration’s policies to create jobs were working. David Axelrod, Senior Advisor to the President, said, “This summer will be the most active Recovery Act season yet …” Tim Geithner, Secretary of the Treasury, wrote, “Welcome to the Recovery.” Now, two years later, Americans are still waiting for a real recovery. The... Continue Reading
June 1, 2012
May 2012 Unemployment Report
May 2012 Unemployment Rate: 8.2 percent Unemployed Americans: 12.7 million Employment The Department of Labor reported an unemployment rate of 8.2 percent for May 2012, up 0.1 percent from April, and an increase of 69,000 nonfarm jobs. Most of the new jobs were in health care, transportation and warehousing, and wholesale trade. This makes 40 straight months under President Obama with unemployment over 8 percent. The economy lost 552,000 net jobs since February 2009 when the Democrats’... Continue Reading
June 1, 2012
Ten Thousand Commandments
President Obama's government-controlled society has burdened America's job creators with some of the most expensive regulations in American history. The cost -- in time spent on paperwork and in money -- is hurting economic freedom. We need less government control and more individual economic freedom. Continue Reading
May 25, 2012
Paycheck Fairness Act: Another Election Year Distraction
For almost 50 years, workers have been protected against sex-based pay discrimination through the Equal Pay Act of 1963 (EPA) and Title VII of Civil Rights Act of 1964, which was recently amended through the Lilly Ledbetter Fair Pay Act of 2009 (Pub.L. 111-2). Despite these laws, Democrats are pushing a new political vote -- the Paycheck Fairness Act (S. 3220). They expect to schedule a floor vote next month. The bill was last brought before the Senate for a vote in November 2010, when the... Continue Reading
May 23, 2012
Any Way You Measure: Obama’s Jobs Claims Don’t Add Up
“The good news is, is that over the last two years we've created more than 4 million jobs…” – President Obama May 15, 2012 Number of Unemployed Americans Record 88.4 Million Americans Out of Labor Force Obama Predicted 250k jobs per month in 2012 Average Weeks Unemployed Continue Reading
May 23, 2012
Obama’s Fiscal Fantasyland
The White House, relying on a recent news column, is portraying the President as a responsible budgeter and declaring an “Obama spending binge never happened.” The administration says “the president has demonstrated significant fiscal restraint.” On the contrary, the past 3 ½ years demonstrate fiscal irresponsibility. The President’s last two budgets both received zero votes in the Senate. The President distanced himself from recommendations of his... Continue Reading
May 15, 2012
FY 2013 Budgets: Senate Democrats Complicit in Obama’s Record Debt
President Obama and Senate Democrats have not provided solutions or results to America’s debt crisis. They have refused to make difficult decisions because they are concerned about their next election rather than the next generation. The President’s latest budget is full of tricks, accounting gimmicks and empty promises that encourage wasteful spending and skyrocketing debt. The Congressional Budget Office estimates that the President’s budget would spend $1.2 trillion more... Continue Reading
May 8, 2012
Democrats Steer America Toward A “Fiscal Cliff”
“We have lots to do. We are going to be working in the evenings, Mondays and Friday --weekends, if necessary, to get all our work done.” – Harry Reid, July 6, 2009 In 2009, with a filibuster-proof Senate, Majority Leader Reid felt that the Senate had a lot of important work on its plate and that the American people expected it to get that work done. Today there are even more pressing issues before the Senate, but Senator Reid has apparently lost his sense of urgency. The Senate... Continue Reading
April 20, 2012
Obama and Unions Ambush Job Creators
In November 2011, President Obama’s National Labor Relations Board (NLRB) approved final language for the controversial “ambush” or “quickie” election rule. This new rule will completely eviscerate employers’ rights and stack union elections in favor of labor organizations. The rule goes into effect in just 10 days -- on April 30, 2012. Rigging Elections to Favor Unions The Obama Administration’s new rules would limit employers’ ability to... Continue Reading
April 17, 2012
Obama’s $4.5 Trillion Tax Hike
Unless President Obama changes course, one-quarter of all job creators will see their income taxes increase in 2013. In an economy like this, we can’t afford to raise taxes on anyone—especially not on small businesses and America’s job creators. Income Taxes Go Up $4.5 Trillion Next Year Total scheduled individual income tax increases are $4.5 trillion over 10 years. Under the Obama tax hike plan, a typical family of four earning $50,000 will send an extra $2,000 to Washington... Continue Reading
April 13, 2012
Another Budget Deadline Comes and Goes Under Democrats
Democrats have gone a record three years in a row with no budget. They last passed a budget in 2009 so that they could pass the President’s health care law through reconciliation. April 15th is the Legal Deadline for Passing a Final Budget Resolution • Sadly, Congress has failed to pass a final budget resolution by the legal deadline three times since Democrats won the majority in 2007 (for fiscal years 2011, 2012, and 2013). • In addition to not bringing up their own proposal... Continue Reading
April 12, 2012
Buffett Tax and Distract
As tax day approaches, President Obama and Senate Democrats want Americans to send even more money to Washington to pay for their spending binge. Instead of passing a budget or cutting spending, they are proposing the Buffett Tax. This new tax proposal won’t create a single job, ease the pain at the pump or reduce the debt. Buffett Tax is a Stunt The Buffett Tax is a purely political stunt. Since the Senate Democrats’ bill creating the new tax would affect revenue, it is also... Continue Reading
March 27, 2012
April 1st is No Joke for U.S. Workers
April 1st – U.S. Corporate Tax Rate Becomes the World’s Highest The United States has not lowered its corporate income tax rate in more than a quarter of a century – since the Tax Reform Act of 1986. After that Act, the United States had the sixth-lowest corporate income tax rate in the Organisation for Economic Co-operation and Development. Since then, the rest of the world has realized the negative consequences of high corporate income tax rates and gradually lowered... Continue Reading
March 26, 2012
Question and Answer: Medicare and the House Budget
This week the U.S. House of Representatives will consider its Fiscal Year 2013 budget resolution authored by House Budget Chairman Paul Ryan. Instead of proposing their own budget, which has not been done in more than three and a half years, Democrats are playing politics. One such claim is that the House budget would “end Medicare.” This claim is flatly untrue. Does the House budget preserve Medicare? Yes. In fact, Politifact termed the claim that the House budget would “end... Continue Reading
March 20, 2012
Path to Prosperity vs. Obama Downgrade
House Republicans today released their FY 2013 budget blueprint. Below are highlights. Fiscal Stats Spending • FY 2013 total spending o House budget: $3.5 trillion o Obama budget: $3.7 trillion • FY 2013 discretionary o House budget: $1.028 trillion o Obama budget: $1.047 trillion • FY 2013 – 2022 total spending o House budget: $40.1 trillion o Obama budget: $45.4 trillion • FY 2013 – 2022 discretionary o House budget: $11.2 trillion o... Continue Reading
March 16, 2012
Obama Budget Means Trillions in New Debt, Deficits, and Spending
The Congressional Budget Office released today its estimate of the president’s fiscal year 2013 budget. The United States will record a deficit of more than $1 trillion for every year of Obama’s first term. The CBO estimate confirms what we already knew: the president’s budget is bad for jobs, bad for seniors, and bad for the economy. Debt: $16 trillion at the end of fiscal year 2012 Deficits: $3.5 trillion more in deficits over current law Spending: $1.2 trillion more spending... Continue Reading
March 14, 2012
Obama’s False Predictions on the Economy
President Obama has repeatedly promised that his break-the-bank policies will deliver more good-paying jobs and robust economic growth. His policies consistently fail to meet his predictions. Instead of changing direction, the president doubles down with more taxpayer-funded projects and says that this time it will be different. America Needs Stronger Growth Last year the American economy grew by a disappointing 1.7 percent. President Obama has predicted four percent GDP growth three different... Continue Reading
March 12, 2012
The “Above the Law” President
On one issue after another, President Obama says he can’t wait for Congress to act. This is the same justification presidents have always used when they find the checks and balances required by democracy to be inconvenient. That preference for ruling as an unaccountable monarch is precisely what our founders feared. Evasion of Constitutional Checks President Obama has said he would prefer to rule without interference from the elected representatives of the American people. His record shows... Continue Reading
March 9, 2012
February 2012 Unemployment
February 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 February 2012, unchanged from January, and an increase of 227,000 nonfarm jobs. Most of the new jobs were professional and business services, leisure and hospitality, manufacturing, mining, and health care positions. This makes 37 straight months under President Obama with unemployment over 8 percent. The economy lost 864,000 net... Continue Reading