Weekly Columns
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.
"We do not consider whether the Act embodies sound policies. That judgment is entrusted to the Nation's elected leaders."
President Obama's decision to unilaterally kill the Keystone pipeline project is not the only government action to stifle energy production and job creation. Every day, federal policies create obstacles to the energy independence America needs to achieve for both our national security and economic recovery.
Ronald Reagan's famous statement that "a government bureau is the nearest thing to eternal life we'll ever see on this Earth" remains frustratingly true. Although Congress has finally begun to cut billions in recognition of the growing threat posed by the massive national debt, many spending programs persist for no justifiable reason. So many budget items continue to be funded due to sheer inertia or political self-interest -- not because they successfully fulfill a worthwhile government function.
Month after month, Americans continue to be pummeled with bad economic news. The dismal employment reports and sobering economic outlooks released in the past few days maintain the unfortunate trend.
The Department of Health and Human Services recorded a curious line item recently. The health care agency reported spending $20 million in taxpayer money on a contract with public relations firm Porter Novelli to design a national multimedia campaign to promote the Affordable Care Act, more commonly called Obamacare.
More than one year after the congressional investigation into "Operation Fast and Furious" began, Attorney General Eric Holder and the Department of Justice continue to obstruct all efforts to bring accountability to those responsible for the disastrous gun-walking operation that left one Border Patrol agent dead and put hundreds of weapons in the hands of dangerous Mexican drug cartels.