When President Obama signs the JOBS (Jumpstart Our Business Start-up Act) bill into law today it will reflect the first sign in a long time that some in Congress are waking up to reality: government regulations stifle business growth. The bill passed the House 390-23 in March and then passed the Senate 73-26 last week but not without much weeping and gnashing of teeth from regulationists decrying the bill’s alleged resurrection of “deregulation.”
The budget plan of Wisconsin GOP Rep. Paul Ryan (left) passed the House on Thursday 228 to 191, mostly along party lines. In fact, not a single Democrat voted for it, signaling that it won’t see the light of day in the Democrat-controlled Senate as predicted here. The previous day, the House overwhelmingly rejected 382-38 the Simpson-Bowles deficit reduction proposal, which incudes tax increases as well as spending cuts. Last week, the administration-supported budget bill was also voted down, 414-0, which leaves the legislative branch of the U.S. government in limbo.
Despite predictable outcries against a plan advertised as a $5.3-trillion cut in federal spending over the next 10 years, House Budget Committee Chairman Paul Ryan (R-Wis., left) says voters are ready to embrace the kind of cuts he has outlined in his proposed budget. Appearing on the "Morning Joe" show on MSNBC shortly before the release of his spending plan Tuesday, Ryan acknowledged he had been advised by some of his Republican colleagues not to propose deep spending cuts, especially to Medicare, in an election year. But, the budget chairman argued, the mounting national debt and growing concerns about its effect on the nation's economy have changed the public's attitude toward spending cuts.
According to CSN News March 2, House Rep. Mike Pompeo (R-Kan., left) has again introduced legislation to repeal all energy tax credits. H.R. 3308, The Energy Freedom and Economic Prosperity Act was first introduced in the House last May by Pompeo. The legislation is now under review in the House Ways and Means Committee, and a Senate version was introduced by Senator Jim DeMint (R-S.C.) and Senator Mike Lee (R-Utah) earlier this month.
With the publishing of a “white paper” about the housing market, Fed Chairman Ben Bernanke has rankled some Republicans that suggestions made appear to have transgressed some line of propriety that separates monetary policy, fiscal policy, and the Fed’s “independence.”
A shave and a haircut will cost you more than two bits just about anywhere, but it’ll run you over two Hamiltons at the U.S. Senate barbershop — more than double what barbers in some parts of the country charge. Yet despite these high prices, the shop, which is supposed to be self-sustaining, ended up $300,000 in the hole last year and got its own taxpayer bailout, proving once again that government is incapable of performing even the smallest tasks cheaply and competently.
In a recent editorial entitled “Regulation without Representation,” Investors Business Daily pointed out that a new federal rule or regulation is published every two hours, 24 hours a day, 365 days a year. But most of them escape the notice of Congress. Congress itself passes fewer than 200 in each session, the rest are promulgated by agencies in the Executive Branch in contravention of explicit instructions in the Constitution.
Congress is investigating a series of questionable “green” loans made by the Obama administration to a variety of dubious companies, more than a few of which later went bankrupt costing taxpayers billions of dollars. But despite repeated requests, Energy Secretary Steven Chu has so far failed to testify on the matter, forcing Rep. Darrell Issa (R-Calif., left) to warn him of a potential subpoena if cooperation is not forthcoming.
For nearly four decades Congress has ensured that federal spending rises inexorably by guaranteeing that every budget item increases automatically each year. And woe to anyone who seeks merely to reduce these automatic increases, for he shall be labeled a heartless, slash-and-burn budget cutter!
As the Obama administration prepares to present a budget to Congress that includes $487 billion in military cuts over the next 10 years, some experts are warning that the downsized defense that is planned could severely jeopardize the nation’s security posture. As reported by the Associated Press, the projected military cuts announced by Defense Secretary Leon Panetta (left) January 26 would include slashing combat brigades from 45 to as low as 32, and shrinking Army ground forces by at least 80,000 soldiers and the Marines by about 20,000 over the next five years.
U.S. Sen. Rand Paul (R-Ky.) missed a flight to Washington, D.C., this morning after being detained by screeners with the Transportation Security Administration (TSA) for refusing a full-body pat-down, his staff said. The incident happened at the Nashville, Tennessee, airport when a so-called “naked-body scanner” found some sort of anomaly around the conservative Senator’s knee.