Weekly Columns
The latest discouraging economic news provides a sobering reminder of exactly what is at stake when Congress reconvenes to address the "fiscal cliff" issues at the end of this year. The most recent economic growth report shows almost no growth to speak of. At a weak 1.3 percent for the quarter, the economic growth rate showed a decline from the previous quarter's 2 percent growth and is well below the 1.7 percent growth that had been projected.
It is considered one of the great political compromises, and one of the most unequivocally successful policy changes in recent congressional history. Welfare reform, a joint effort by President Clinton and a Republican Congress led by Speaker Newt Gingrich, confirms both that bipartisan progress is possible in a sharply divided government and that good things happen when the status quo is toppled
Exactly 11 years after the September 11th attacks, the tragic and troubling events in Libya and the greater Middle East are a reminder that freedom and American values remain a target for violent extremists.
The media may no longer be paying attention to gas prices, but the American people are fully aware that fuel costs are on the rise again. The $3.72 national average gas price recorded on August 20 was the highest ever observed on that date. Prices have risen 9 percent over the past few months, making 2012 the most expensive year ever for drivers. According to USA Today, industry experts predict average prices could rise as high as $3.90 and remain above $3.00 even into autumn.
You know election season must be in full swing when "Mediscare" accusations start flying. Unfortunately, the heated rhetoric obscures the most relevant and startling point of all: Medicare will go bankrupt by 2024. This is not speculation or a partisan claim; it is a fact documented in this year's annual report from the Medicare and Social Security Trustees.
Rather than confront this reality and communicate honestly with the American people about options to save the vital program, the Obama campaign has chosen the time-honored tradition of sowing fear and division.
One day after voting to prevent a massive tax hike from hitting small businesses and families, House Republicans also took action to reform the entire tax code. It's not just high tax rates that discourage businesses from growing. The very structure of the tax system is so complex, inefficient, and unfair that the United States is becoming one of the worst places to do business in the developed world.
I recently sat down in Norman with a group of small business owners to get their perspective on economic issues. While politicians in Washington argue over how to create jobs, these local employers are the ones responsible for making payroll each month and working to make their businesses grow in a challenging economy.
"It's now easier to start a business in Slovenia, Estonia and Hungary — three former Iron Curtain countries — than in America." That's the conclusion reached by the editors of Investors Business Daily in response to a study measuring the regulatory hurdles confronting entrepreneurs around the globe. According to statistics compiled by the Organization for Economic Co-operation and Development (OECD), even liberal Canada requires fewer procedures to start a new business than American entrepreneurs face.
The Arms Trade Treaty currently under consideration by the United Nations is rightfully the subject of growing concern. Typical of many U.N. initiatives, the treaty has an unrealistic but vaguely laudable goal. According to U.N. Secretary-General Ban Ki-Moon, the "robust and legally binding" treaty "will have a real impact on the lives of those millions of people suffering from consequences of armed conflict, repression and armed violence." By establishing international standards on the import, export and transfer of arms, the U.N.
The Supreme Court decision on Obamacare paved the way for $675 billion in new taxes over the next decade. But that's just the tip of the iceberg. Unless Congress takes action, tax rates for all tax brackets will increase on January 1, 2013.
Federal Reserve Chairman Ben Bernanke refers to the looming tax hike deadline as a "fiscal cliff" while the media coined the term "Taxmageddon" to describe the magnitude of the economic disruption that will occur if the current tax rates are not renewed.
