Question: What do you get when you combine a $700 billion “stimulus” package, $1.1 trillion in wealth-destroying regulatory compliance costs, a mountainous non-discretionary entitlement obligation, bailouts for large manufacturers, an small army of unelected czars, and a $1.4 federal budget deficit?

Answer: Way too much government!

In a new CEI paper, One Nation, Ungovernable?, Clyde Wayne Crews lays out an agenda for setting America on the path to economic recovery. From lifting burdensome regulations and restrictions on executive compensation to fostering competition and…

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Your host Richard Morrison welcomes returning guest co-host William Yeatman and special guest commenter Ryan Radia to the program for Episode 61 of the LibertyWeek podcast. We start with the FCC’s just-announced proposal for “net neutrality,” Treasury documents that reveal the true cost of cap-and-trade legislation and the plan for getting over California’s great depression. We then move on to the G20 Summit’s potential path to prosperity and the ever-expanding scandal that is ACORN.

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But State Still In Trouble With Global Warming Law

WASHINGTON, DC, July 21, 2009 – Top California lawmakers have included a plan for expanding oil drilling off the Southern California coast, as part of a budget compromise aimed at closing the state’s $26 billion shortfall.  The move drew praise from the Competitive Enterprise Institute.

“State Republican legislators, led by Senate Minority Leader Dennis Hollingsworth, are to be commended for forcing Republican Governor Schwarzenegger and the Democratic majority in the legislature to accept…

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CEI and the Pacific Research Institute recently co-hosted a Capitol Hill briefing on “California’s Meltdown” - the unprecedented combination of flawed economic, energy and environmental policies that have left the state with a massive budget deficit and facing even tougher times ahead.

Our keynote speaker was Rep. Tom McClintock (R-CA), a first term member of the House of Representatives but a 22-year veteran of the California state legislature. He was introduced by Director of Energy & Global Warming Policy Myron Ebell:

After his speech…

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Your host Richard Morrison brings you Episode 51 of the LibertyWeek podcast, along with special guest co-host Jeremy Lott and Fellow in Regulatory Studies Ryan Young. We start with Judge Sotomayor in the Senate hot seat, a privacy threat from “smart” passports and why Rep. Dan Lipinski has decided your suitcase is too big. The discussion continues with Rep. John Murtha’s expanding corruption scandal, beer news from the Beaver State and the arrival of Wal-Mart in India. We wrap up with…

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In 2008, Obama promised a “net spending cut” (although he never did come up with cuts to offset his proposed spending increases). Obama broke this campaign promise in a big way with his proposed budget, which could bankrupt the United States, according to senior Senators.

Obama’s budget would increase spending levels so much that budget deficits would rise by $4.8 trillion to $9.3 trillion while taxes would increase by $1.9 trillion, according to the Congressional Budget Office.

Yet Obama’s campaign workers have apparently learned nothing from this. Across…

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Obama’s budget would explode the national debt while increasing taxes. That’s the conclusion of the Congressional Budget Office, controlled by lawmakers who support Obama. “The President’s proposals would add $4.8 trillion to the national debt,” increasing “the cumulative deficit from 2010 to 2019 to $9.3 trillion.” The budget also adds $1.9 trillion in tax increases.

And the stimulus bill Obama claimed was needed to avert “disaster” and “irreversible decline“? It will shrink the economy over the long run, since its “increase in government debt…

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Congressman Jerry McNerney (D-California) has advocated raising marginal tax rates to 90 percent. Such a tax increase on the wealthy would be necessary, but not sufficient, to pay for the vast spending increases proposed by the Obama Administration, if it is to keep its promise not to raise taxes on those making less than $250,000 per year. Indeed, it would not raise enough money, since there simply are not enough wealthy people to pay for all the proposed spending.

In the…

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Just what is up with the section of the Obama administration’s budget which plans to ‘phase-out’ tax deductions for charitable giving?  Frankly this is a little unnerving to someone who works for a nonprofit organization like I do, I have heard similar sentiments among those from all parts of the political spectrum.  To this news, there are those who would say: it only affects those  “rich” folks making over $200K/year.  To which I say: So what?  Furthermore, the ‘rich’ are responsible for a good deal of…

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Tucked into the EPA budget proposal the Obama administration revealed yesterdays are plans to reinstate the Superfund taxes which expired in 1995 as a way to partially offset the $2.7 billion in increased spending at the EPA.  The administration estimates that the taxes will generate more than $1 billion per year.

The original Superfund taxes were actually three different taxes, a petroleum tax of 9.7 cents per barrel, a tax on chemical feedstocks, and a so called Corporate Environmental Income Tax…

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lolprez and the “do-something-anything” Congress is at it again

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Regardless of your political party or ideological leanings, the notion of the federal government spending $2 trillion, adding to the national debt of nearly $11 trillion already, should make you stop and consider the staggering size of our national tab.

If the irony of using debt-based spending to solve a problem caused by debt-based spending has escaped you, perhaps these fun facts will put things into perspective:

If you spent $1 every second, you’d have to keep spending for 412,000 years to get…

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Last week the House of Representatives passed HR 1, The American Recovery and Reinvestment Act, which allocates $816 billion to stimulate the economy. Environmental policy figures prominently in the House’s stimulus package, including $72 in direct spending for green energy and $20 billion in clean energy tax incentives. According to the liberal Center for American Progress, this $92 billion will create 459,000 green jobs by 2010, at a cost of $196,000 per job. What a deal!

The Senate will soon begin…

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