As the nation debates continuing coronavirus stimulus, AEI offers an eye-opening analysis:  Unemployment…
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Images of the Day: Unemployment Claims Plummeted Faster After $600 Checks Expired

As the nation debates continuing coronavirus stimulus, AEI offers an eye-opening analysis:  Unemployment claims plummeted and the employment picture improved much faster after those $600 checks expired, reestablishing that while we always want to help those who cannot help themselves, government payouts can sometimes reduce incentives and ability to return to the workforce.  And this doesn't even reflect remarkably positive employment reports released by the government since the end dates:

 

[caption id="" align="alignleft" width="562"] Continuing Unemployment Claims Dropped[/caption]

 

 

 

 

[caption id="" align="alignleft" width="563"] Initial Unemployment Claims Dropped[/caption]…[more]

November 12, 2020 • 11:57 AM

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121 ‘Fiscal Cliff’ Fight Ended in a Draw

Conservative doomsayers should chill out. This week’s installment of a budget deal is definitely not the utter disaster that many enraged conservatives are portraying. While it might be a bitter pill, the deal actually gives conservatives some leverage moving forward, while leaving tax rates at levels that by historical standards aren’…

122 Budget’s Sessions is Right to Want Budget Sessions

One reason the substance of the “Fiscal Cliff” negotiations has been so unsatisfactory is that the very format of the negotiations has been misguided. The Obama-Boehner talks favor the White House and disfavor the twin values of transparency and public understanding. As is usually the case, bad process is likely to produce bad policies.…

123 Fiscal Gap Worse Than Fiscal Cliff

Negotiations to avoid the fiscal cliff are understandably focusing on whether to cut or raise taxes and spending.  But those issues are secondary.  The real problem facing the federal budget is the unsustainable cost of entitlement programs like Social Security, Medicare and Medicaid.  If structural reforms aren’t made soon, the…

124 What Will Falling Off the Fiscal Cliff Mean for Your State?

With all the attention centered on the fallout in the federal budget should President Barack Obama and Congressional Republicans fail to cut a deal that avoids the fiscal cliff, it’s easy to forget that the budgets of most state governments will be heavily impacted as well. To recap, Congress and the President are facing two separate yet related…

125 Budget Cuts Can Be Political Winners

For decades now, Republicans have championed the vague idea of budget savings while fearfully shying away from efforts to “sell” the cuts as anything other than a necessary discipline. Their lack of courage and creativity is pathetic. In “fiscal cliff” negotiations and in all similar budgetary imbroglios in the next few years…

126 “Fiscal Cliff?” Don’t Liberals Constantly Claim Fealty to Clinton-Era Rates?

An urgent alert atop the official White House website announces the following:  “If Congress fails to act before the end of the year, every American family’s taxes will automatically go up. A typical middle-class family of four would see its taxes rise by $2,200 starting in 2013.”  So what’s the problem?  Aren…

127 Washington Post: Mr. Obama, Stop Blaming Bush for the Economic Crisis

Barack Obama:  “Governor Romney believes that with even bigger tax cuts for the wealthy and fewer regulations on Wall Street, all of us will prosper.  In other words, he’d double down on the same trickle-down policies that led to the crisis in the first place.”  Washington Post:  “Retire this talking point…

128 Small Business Shock: 55% Would Not Start a Business in Obama’s Economic Climate

“The data paints a bleak picture, with a majority of respondents saying in the last three years, the national economy is in a worse position for American small businesses and manufacturers…  The theme of government being a barrier rather than a help is clear throughout this data.” That was the sobering executive summary of…

129 Correcting the Clinton Record: Tax Cuts, Spending Restraint, Moderation

You never want to catch whatever Bill Clinton is spreading.  Accordingly, here’s some precautionary intellectual inoculation.  This week, Clinton attempted to rescue the political fortunes of a current president whose policy choices contrast sharply with his own.  Instead of a rescue, however, Clinton may have simply highlighted…

130 Steak Dinners and Slurpees: Numbers Refute Obama’s Attempt to Blame Deficits on Tax Cuts and Wars

In his most petulant and desperate demeanor yet, Barack Obama this week doubled down on blaming his own fiscal failures on George W. Bush.  Speaking at a fundraiser – what else? – in Baltimore, Obama also unveiled a new pet metaphor, substituting “steak dinner” for his familiar “slurpee” and “car in the…

131 Congressional Spend-fest Continues

This country is still spending itself into oblivion, and not even the Republican House is putting up enough of a fight. But some individual House and Senate members still are battling, for the interests of both taxpayers and good social policy, and their efforts merit support. Red State reported the other day that the House wouldn’t even…

132 Sessions, Coburn Show Leadership on Budget

“The man with no plan.” That’s what Jeff Sessions of Alabama, ranking Republican on the U.S. Senate Budget Committee, calls the man Occupying the Oval Office. “The biggest deficit in our country right now is that leaders won’t get out and take a stand,” said U.S. Senator Tom Coburn. “That’s cowardice…

133 Hypocrisy: Obama Paid Lower Tax Rate Than His Secretary

In campaign speeches, Barack Obama sermonizes endlessly against “giving tax breaks to the wealthiest Americans like me.”  According to his own IRS return, however, Obama himself gladly exploits them.  Alongside Treasury Secretary Timothy Geithner, Rep. Charlie Rangel (D – New York) and so many other champagne liberals,…

134 Unlike Titanic’s Captain, Obama Sees Iceberg… But Ignores It

“From Mesaba to Titanic:  In latitude 42° N to 41° 25’, longitude 49° W to longitude 50° 30’ W, saw much heavy pack ice and great number large icebergs, also field ice, weather good, clear.”  One hundred years ago this week, that heavy ice admonition was one of several transmitted but unheeded by…

135 Why Liberals Can’t Win a Serious Tax Debate

In California, Governor Jerry Brown is pushing for a “Millionaire’s Tax” that hits people earning well below that threshold.  President Barack Obama is stumping across the nation for a “Buffett Rule” that raises taxes but makes no impact on the deficit.  Both are showcasing why liberals can’t win a serious…

136 Stop the Corporate Punishment

Americans businesses were turned into April Fools on Sunday when a cut in Japan's top corporate income tax rate left the United States with the highest such rate in the developed world -- including Communist China's. With Great Britain also slicing rates this month from 26 percent to 24 percent, the U.S. average top rate (federal and state combined…

137 New Survey: 73% Favor Lower Corporate Taxes

Barack Obama seems to assume that “The 99%” stand with him when he hypocritically campaigns for higher taxes on employers and individuals.  (“Hypocritically” because he doesn’t practice what he preaches by filing his own taxes at the same rate he claims is “fair” for millionaires such as himself.) …

138 February 23, 2009: Obama Promised to Cut the Deficit by Half

The most damning indictments against Barack Obama as he furiously seeks reelection are his own false promises.  “That’s why today, I’m pledging to cut the deficit we inherited by half by the end of my first term in office.”  That categorical pledge occurred exactly three years ago this week, February 23, 2009. …

139 GOP Presidential Candidates Need A Refresher Course on Free Markets

A little learning is a dangerous thing. Unfortunately, it’s also all that’s required of a professional politician. While stammering, inarticulate candidates tend to have short shelf lives, a political aspirant who manages to recite a crisp bullet point without giving its content much thought can make a career out of the exercise (as testified…

140 Obama, Three Years Ago This Week: “If I Don’t Have This Turned Around in Three Years…”

On February 2, 2009, Barack Obama confidently announced the following performance standard for himself in an interview with NBC’s Matt Lauer:  Lauer:  “At some point, will you say, ‘Wait a minute – we’ve spent this amount of money, but we’re not seeing results, we’ve got to change course dramatically…

141 Obama’s IRS Return Shows His Tax Hypocrisy, Current Debate Shows Urgent Need for Corporate Tax Reform

In his State of the Union speech, Barack Obama lectured those whom he hadn’t already bored to stupor with his usual onslaught of platitudes – you probably had no idea that “teachers matter” until he said so – that anyone earning over $1 million should pay at least 30% to government.  Oh, and another thing –…

142 White House Chief of Staff Latest Scapegoat for Failed Policies

To hear the political media tell it, Bill Daley’s failure as White House Chief of Staff was due to his inability to communicate President Barack Obama’s policies effectively to Congress and Wall Street.  But the messenger wasn’t the problem.  Just like other high-profile has-beens Obama has cast aside when reality undermined…

143 Congressman to Bureaucrats: “Stop Sitting on Our Assets”

When it comes to underutilized federal properties, Rep. Jeff Denham (R-CA) offers a simple solution: “It’s time to stop sitting on our assets.”  As Chairman of the House Subcommittee on Economic Development, Public Buildings and Emergency Management, Denham has jurisdiction over nearly 14,000 federal properties that have already…

144 Federal Workforce Savings Made Easy

No good reason exists, none whatsoever, for Congress’ budgetary “supercommittee” to fail to identify at least $1.2 trillion in ten-year cuts without raising taxes. Wisconsin’s freshman Republican U.S. Sen. Ron Johnson alone has recommended ways to save $1.4 trillion over ten years just by more sensible management of the federal…

145 Blow up the Boxes: GOP Presidential Candidates are Getting Bold on Tax Reform

By any fair estimate, the 2012 Republican presidential contest has been whittled down to four serious contenders: Mitt Romney, who retains de facto frontrunner status; Rick Perry, who’s still alive despite a halting entrance into the race; Herman Cain, who was won the affections of conservative voters with his no-nonsense style, and Newt Gingrich…

146 9-9-9 Trial Balloons: Popped

Herman Cain’s vaunted 9-9-9 tax proposal is brilliant in theory, and in a political vacuum. In principle, there is good reason to admire it. We don’t live in a political vacuum, however, and in practice it could cause major problems. The first problem is, common sense says 9-9-9 can’t raise enough revenue even for the slimmed down…

147 Bipartisan Foolishness in the Quest to Stop China’s Currency Manipulation

The world is an upside-down place when Mitt Romney is supporting a policy championed by Paul Krugman. Yet that’s precisely what’s happening as a bill that seeks to deter China from manipulating the value of its currency winds its way through Capitol Hill. The legislation, which passed the Senate on Tuesday, may still fail to secure passage…

148 Corporate Jet Tax Will Kill Manufacturing Jobs

With President Barack Obama threatening to raise taxes on corporate jet purchases, members of private aviation unions are wondering why their manufacturing industry is being singled out for punishment.  In a June 29 speech about cutting the deficit, President Obama said six times that buyers of private jets should pay more for the privilege.&…

149 A Conservative’s Guide to Obama’s Flawed Jobs Proposal

When President Obama appeared before a joint session of Congress last week, he pitched his newest supposed economic panacea – the American Jobs Act – as a plan to “provide a jolt to an economy that has stalled, and give companies confidence that if they invest and if they hire, there will be customers for their products and services…

150 Obama Now on Course to Preside Over the Worst Economic Growth Since Recordkeeping Began

As if American voters needed additional confirmation of the failure of Barack Obama’s economic agenda, consider the following.  In 1947, the federal government began tracking quarterly gross domestic product (GDP), the broadest measure of overall economic vitality.  Since that date, not one President has failed to enjoy a quarter of…

 
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