In last week's Liberty Update, we highlighted the Heritage Foundation's 2022 Index of Economic Freedom…
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Image of the Day: More Economic Freedom = Higher Standard of Living

In last week's Liberty Update, we highlighted the Heritage Foundation's 2022 Index of Economic Freedom, which shows that Joe Biden has dragged the U.S. down to 22nd, our lowest rank ever (we placed 4th in the first Index in 1995, and climbed back up from 18th to 12th under President Trump).  As we noted, among the Index's invaluable metrics is how it demonstrates the objective correlation between more economic freedom and higher citizen standards of living, which this graphic illustrates:

 …[more]

May 19, 2022 • 12:53 PM

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CFIF Launches National Media Campaign to Oppose House "Super Chapter 9" Bankruptcy Legislation for Puerto Rico Print
By CFIF Staff
Sunday, April 03 2016

WASHINGTON, D.C. – The Center for Individual Freedom (CFIF) today announced a national media campaign in opposition to the "Super Chapter 9" bankruptcy legislation for Puerto Rico, which was recently released by the Committee on Natural Resources in the U.S. House of Representatives.

"We are deeply concerned about this draft legislation," said Timothy Lee, CFIF’s Senior Vice President of Legal and Public Affairs. "As written, it is an even more dangerous version of the Obama Administration’s unprecedented Super Chapter 9 proposal, and amounts to a bailout of Puerto Rico on the backs of American savers and retirees. We want to make sure that every American knows of the disastrous and far-reaching implications of this bill."

The campaign will feature national advertisements on television, radio and online which will highlight the contagion effect of this legislation. If Puerto Rico is allowed to declare bankruptcy and victimize its bondholders, high-spending states like Illinois may seek the same authority from Congress. This will raise borrowing costs for states, and will crush the value of retirement funds around the country.

Further, the legislation will remove any incentive that fiscally irresponsible states have to enact meaningful reform for the benefit of their own taxpayers, setting the stage for an onslaught of debt crises across the country.

CFIF implores all Americans to contact their representatives and tell them to oppose the House of Representatives’ Super Chapter 9 plan for Puerto Rico.

View the television ad below.

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Quiz Question   
How many days does it take the average U.S. household to consume as much electrical power as one single bitcoin transaction?
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Notable Quote   
 
"Lawmakers continued to raise concerns about the Internal Revenue Service at a Congressional hearing this week as the agency deals with billions in misspent dollars, hefty processing backlogs, and complaints over poor customer service.Lawmakers lobbed questions at the tax-collecting agency during the House Ways and Means Oversight Subcommittee hearing.'The program has an annual improper payment rate…[more]
 
 
—Casey Harper, The Center Square
— Casey Harper, The Center Square
 
Liberty Poll   

Should any U.S. government agency have a function called the "Disinformation Governance Board" (See Homeland Security, Department of)?