The winds of change might finally be blowing in Washington. For the first time in 81 years taxpayers are no longer dolling out dollars on risky loans to subsidize big businesses and foreign corporations, thanks to the expiration of the controversial Export-Import Bank.
If you had to name a theme for Obamas second term, it would be regulatory overreach.
Its not been a good month for the embattled Export-Import Bank. Time is running out for this decades-old creature of Washington, which is set to expire on June 30th, even as the bank and its K Street allies pull out all the stops in their effort to keep Ex-Im on taxpayer-backed life support.
While few Americans were fortunate enough to see a holiday bonus this year, there is one gift that American motorists have been enjoying of late; lower gas prices.
The Congressional Budget Office recently released an update to their 2014-2024 budget projections, sending the Washington Budget wonks into a frenzy. With deficits projected to reach heights not seen since World War Two, the spin doctors have been out in full force trying to turn around recent report. One such man is New York Times columnist Paul Krugman. Armed with a Nobel Prize in New Trade Theory, Mr. Krugmans opinion column carries extraordinary weight in intellectual circles however his latest on Medicare doesnt pass the smell test upon closer examination.
Congress has returned to Washington after a 5 week hiatus to deal pressing problems facing the nation both here at home and abroad. Unfortunately, the definition of what constitutes a pressing issue is often different in Washingtons marbled halls than in Main Street America. In no case is that more clear than with the last minute extension of the controversial Export-Import Bank.
There is perhaps no meal more synonymous with American cuisine than a hamburger, fries and an ice cold beverage. Fighting for the title of Americas Burger since its creation in by 1957, the Whooper has come to rival the Big Mac in American fast food lore. Yet this most American of products will soon be getting a new home, Canada.
Politicians have been trying to provide affordable prescription drugs for more than a decade. Before the Patient Protection and Affordable Care Act, also known as Obamacare, there was Medicare Part D seeking to lower costs for senior citizens.
The bank’s 2013 annual report claimed that “nearly 90 percent of Ex-Im’s transitions directly benefited small businesses” while less than 20 percent of actual funding did. Patrons of the bank also point to the results of Ex-Im’s “small business survey,” touting the benefits of the big business bank to mom-and-pop shops.
?The merger of two medical companies often makes few headlines outside of the business section of the daily newspaper. The merger of medical device manufactures Medtronic and Covidien, however, is a different matter – not because of the devices they manufacture, but because of the spotlight the transaction has shined on the U.S.’s counter-productive and punitive tax code, which discourages American companies from reinvesting their global profits here at home.