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Heritage Foundation - Economy

Why Government Spending Does Not Stimulate Economic Growth: Answering the Critics

Despite decades of repeated failure, President Obama and Congress continue to promote the myth that government can spend its way out of recession. Heritage Foundation economic policy expert Brian Riedl dispels the stimulus myth, lays out the evidence that government spending does not end recessions--and presents the evidence for what does end recessions. Hint: It's not another "stimulus package."

Date: Tue, 05 Jan 2010 17:42:48 EST

President Obama's Son of Stimulus: More Costs, Fewer Jobs

President Obama's third stimulus plan, presented as a "jobs plan," relies heavily on government infrastructure spending, one of the least effective components of the previous stimulus plan, and is far less likely to stimulate the economy than it is to stimulate government expansion and the federal deficit, leading to higher taxes on Americans who will receive little in return.

Date: Tue, 05 Jan 2010 18:02:32 EST

THE DEBT LIMIT: When Is Enough Enough?

The recession and excessive spending have caused the debt held by the public to grow sharply to 56‰ of the economy, topping the historical average of 36‰. To make matters worse, entitlement programs will double in size over the next few decades and cause the national debt to reach 320‰ of the economy.

Date: Mon, 14 Dec 2009 10:03:57 EST

Does Creating Jobs Have to Cost Money?

Investors and job creators around the world have gravitated to the U.S. because America was a place where taxes and regulations fostered competitiveness, transparency, and accountability. The way to create jobs is therefore not through massive new government spending, new bureaucracies, or more debt, but rather by pursuing solutions that are based on time-honored principles proven to create jobs and, ultimately, economic prosperity in America.

Date: Fri, 11 Dec 2009 10:16:10 EST

Business as Usual in Washington: Another Bloated, Pork-Filled Omnibus Spending Bill

Despite a recession and record $1.4 trillion budget deficit, Congress continues to accelerate runaway spending and pork.

Date: Thu, 10 Dec 2009 15:25:33 EST

TARP II: The Sequel Is Never Better

In an attempt to reform the financial industry, Congressman Barney Frank (D-MA) and the Obama Administration have proposed new regulatory measures that would hurt consumers, increase the likelihood of future government bailouts and interventions, and do little to address the real problems in the financial industry.

Date: Wed, 09 Dec 2009 10:45:10 EST

Reduced Investment and Job Creation to Blame for High Unemployment

The unemployment rate in America jumped from 4.9 percent in late 2007 to 10 percent in November this year. The conventional wisdom that unemployment is rising because more people are losing their jobs is only partly true. Job-loss rates have increased, but the largest force driving unemployment is the sharp drop in private-sector job creation. The massive stimulus bill championed by President Obama did nothing to "create or save" millions of jobs. Any "jobs bill" that relies on government spending without improving the investment and entrepreneurship climate will fail.

Date: Wed, 09 Dec 2009 15:51:41 EST

Heritage Employment Report: Thanks for the November Jobs Report?

Today's jobs numbers, released the day after the White House jobs summit, show that Christmas has come early for many workers. However, as long as entrepreneurial activity remains low, unemployment will remain high.

Date: Fri, 04 Dec 2009 11:48:06 EST

Obama Jobs Deficit Up Again, Real Jobs Strategy Needed

One day after the White House jobs summit admitted that the President's policies are not working, the Department of Labor's monthly jobs report added the exclamation point.

Date: Fri, 04 Dec 2009 11:49:51 EST

To Control National Debt, Congress Needs to Tackle Entitlements

Reforming entitlement programs, which are the main drivers of government spending and borrowing, should take priority over raising the debt limit.

Date: Mon, 30 Nov 2009 16:57:56 EST

Heritage Foundation - Federal Budget & Spending

Business as Usual in Washington: Another Bloated, Pork-Filled Omnibus Spending Bill

Despite a recession and record $1.4 trillion budget deficit, Congress continues to accelerate runaway spending and pork.

Date: Thu, 10 Dec 2009 15:25:33 EST

Bipartisan Entitlement Commission Needed to Control Spending and Debt

A fiscal reform commission is essential to tackling the coming tsunami of entitlement spending and deficit red ink that threaten the economy.

Date: Mon, 16 Nov 2009 09:30:37 EST

The Spending, Deficit, and Debt Control Act Would Help Congress Rein in Spending and Deficits

Congress needs a budget framework that promotes responsible budgeting.

Date: Fri, 30 Oct 2009 11:02:12 EST

50 Examples of Government Waste

Here are 50 of the most egregious examples of government waste.

Date: Tue, 06 Oct 2009 13:30:36 EST

Congress's Health Care Bills Would Increase Spending and Federal Budget Deficits

Both the House health care reform bill (H.R. 3200) and the bill authored by Senator Baucus would increase government spending by hundreds of billions of dollars over the next decade, even after assuming massive "savings" from cutting waste and inefficiency in Medicare and Medicaid. If lawmakers can easily cut nearly $1 trillion in waste from Medicare and Medicaid over the next 20 years, they should do so to reduce Medicare's $36 trillion unfunded obligation, not to fund massive new health care benefits.

Date: Thu, 24 Sep 2009 17:24:01 EST

President Obama's Agenda Would Bring $13 Trillion in Budget Deficits, Not $9 Trillion

President Obama's budget will likely produce $13 trillion in deficit spending over the next 10 years--nearly $4 trillion more than forecast. The White House figures are based on unrealistic estimates of discretionary spending, interest payments, and interest rates. The White House also used budget gimmicks to hide the full cost of certain entitlements and failed to account for the full costs of cap-and-trade energy legislation and health care reform.

Date: Tue, 22 Sep 2009 16:57:38 EST

Budget Update Shows No Need for Tax Hikes

The OMB and CBO budget updates show that spending cuts—not tax increases—are necessary to bring deficits under control.

Date: Thu, 27 Aug 2009 17:02:26 EST

New Budget Estimates Show Unsustainable Spending and Debt

The OMB's new budget spending estimates are alarming and absolutely unsustainable-and are the true cause of these appalling levels of deficit and debt.

Date: Tue, 25 Aug 2009 13:24:46 EST

Federal Spending by the Numbers 2009

Spending and deficits are surging at a pace not seen since World War II. Washington will spend $33,932 per household in 2009--$8,000 per household more than last year. While much of this spending is a temporary result of the recession and financial crisis, President Obama's 2010 budget would replace this temporary spending with permanent new programs.

Date: Mon, 27 Jul 2009 09:47:11 EST

Facing America's Long-Term Entitlement Challenges Laid Out in the Financial Report of the United States Government

The most striking part of the 2008 Financial Report of the United States Government is not the balance sheets showing total assets of $2 trillion dwarfed by total liabilities of $12 trillion. Rather, it is the Statements of Social Insurance, which show $43 trillion in excess future expenditures over future revenues for Social Security and Medicare.

Date: Mon, 13 Jul 2009 15:48:09 EST

Heritage Foundation - Taxes

The Senate Health Bill: Cost of the Insurance Premium Tax to Individuals and Families

The Senate health insurance premium tax would impose new costs on Americans who already have coverage while deferring for years the even larger amounts that Congress proposes to spend subsidizing those without coverage. Through either Medicare Advantage or Medigap, seniors would pay approximately 17 percent of the new premium tax: the second largest share after workers in small business, who would pay 54 percent.

Date: Wed, 09 Dec 2009 12:02:55 EST

Tax Hikes Unnecessary for Extension of Current Policy

Congress should not use the need to extend current policy as an excuse to raise taxes, because preventing a tax hike is not a tax cut.

Date: Tue, 08 Dec 2009 10:27:14 EST

Death Tax: Time to Kill It Forever

Congress should stick with current policy and permanently repeal the death tax once and for all. Abolition of this harmful tax will help spur economic recovery, put unemployed Americans back to work and increase the long-term growth potential of the economy.

Date: Wed, 02 Dec 2009 14:11:16 EST

High-Income Surtax: How Not to Pay for Health Care

Congress is proposing a surtax on high-income individuals to help pay for health care reform that would burden the economy and slow its recovery from the recession.

Date: Fri, 20 Nov 2009 12:07:13 EST

Taxes Proposed to Pay for Health Care Reform

The U.S. Senate's proposal for a government-run hostile takeover of the entire U.S. health care system includes a barrage of higher taxes.

Date: Fri, 20 Nov 2009 10:10:10 EST

Estate Tax a Killer for Family-Owned Businesses and Their Workers

Congress should repeal the estate tax once and for all to remove an unfair burden from the backs of American family-owned businesses and their workers.

Date: Thu, 19 Nov 2009 14:11:30 EST

Seven Reasons Why Congress Should Repeal, Not Fix, the Death Tax

Policymakers should do what their voters want them to do: They should repeal the death tax and kill it, once and forever.

Date: Mon, 09 Nov 2009 11:11:45 EST

Pelosi Health Care Plan: Who Pays the Surtax?

The Pelosi health care plan relies on a large surtax that would gradually encompass all American taxpayers, much like the dreaded Alternative Minimum Tax does.

Date: Fri, 06 Nov 2009 18:13:37 EST

Tax on High-End Health Insurance Policies Takes the Low Road

The Joint Tax Committee recently shed important new light on the proposed "Cadillac excise tax" contained in the Senate Finance Committee’s health care bill.

Date: Thu, 29 Oct 2009 13:14:13 EST

Baucus Health Insurance Excise Tax Misses the Mark

The Baucus plan's excise tax on "Cadillac" health insurance plans would fall mostly on low- and middle-income workers.

Date: Mon, 19 Oct 2009 15:11:07 EST

Heritage Foundation - Health

Medicaid Expansion Ignores States' Fiscal Crises

Congress's health care bills would force more people to enroll in Medicaid--and the states would be left to pick up the tab.

Date: Tue, 05 Jan 2010 17:09:10 EST

The House and Senate Health Care Bills: The Key Differences

The giant House and Senate health care bills reflect a faith in federal government control over the financing and delivery of Americans' health care.

Date: Tue, 22 Dec 2009 17:03:16 EST

An Analysis of the Senate Democrats' Health Care Bill

The Senate health care bill would impose $406.2 billion in new taxes; cost $2.5 trillion over the first 10 years; stifle patient choice by transferring most decision-making authority to Washington; and produce the greatest concentration of political and economic power over a sector of the U.S. economy in our history. Americans want and need health reform, but the Senate bill is clearly not what they have in mind.

Date: Fri, 18 Dec 2009 16:53:09 EST

Employment Discrimination in the Senate Health Care Bill

The Senate health care bill would encourage companies to engage in some new and repulsive forms of employment discrimination.

Date: Thu, 17 Dec 2009 15:37:18 EST

Entitlement Reform Should Precede Health Care Expansion

If Congress and the President choose to empower an independent commission to tackle this immense problem, they must give it the authority to do it right.

Date: Tue, 15 Dec 2009 09:21:54 EST

The Senate Health Care Bill's 'Firewall' Creates Disparate Subsidies

Key assumptions in CBO's cost estimate of the Senate health care bill--especially the viability of the so-called "firewall"--will never hold up over time.

Date: Fri, 11 Dec 2009 11:03:19 EST

Why the Personal Mandate to Buy Health Insurance Is Unprecedented and Unconstitutional

An individual mandate to enter into a contract with or buy a particular product from a private party is literally unprecedented, not just in scope but in kind, and unconstitutional either as a matter of first principles or under any reasonable reading of judicial precedents.

Date: Wed, 09 Dec 2009 10:46:20 EST

Executive Summary: Why the Personal Mandate to Buy Health Insurance Is Unprecedented and Unconstitutional

An individual mandate to enter into a contract with or buy a particular product from a private party is literally unprecedented, not just in scope but in kind, and unconstitutional either as a matter of first principles or under any reasonable reading of judicial precedents.

Date: Wed, 09 Dec 2009 11:10:55 EST

The Senate Health Bill: Cost of the Insurance Premium Tax to Individuals and Families

The Senate health insurance premium tax would impose new costs on Americans who already have coverage while deferring for years the even larger amounts that Congress proposes to spend subsidizing those without coverage. Through either Medicare Advantage or Medigap, seniors would pay approximately 17 percent of the new premium tax: the second largest share after workers in small business, who would pay 54 percent.

Date: Wed, 09 Dec 2009 12:02:55 EST

How the Senate Health Bill Punishes Businesses That Hire Low-Income Workers

The net result of the Senate health care bill would be higher unemployment for low- and moderate-income families and higher health insurance costs for their co-workers.

Date: Thu, 03 Dec 2009 22:48:45 EST