In 2010, for the first time ever, the United States has fallen from the ranks of the economically “free” as measured by the Index of Economic Freedom, published annually by The Heritage Foundation and The Wall Street Journal, falling below the cutoff that earns countries the right to call themselves “free.” Read More.
Testimony before The Joint Economic Committee United States Congress February… Read more
Abstract: The great and calamitous fiscal trends of our time—dependence on government by an increasing portion of the American population, and soaring debt that threatens the financial integrity of the economy—worsened yet again in 2010 and 2011. The United States has long reached the… Read more
The Congressional Budget Office (CBO) released its baseline budget outlook through fiscal year 2022 on January 31. The analysis is as creditable to the CBO as its message is daunting to the nation. After squandering three years in which the signal consequences have been persistent high unemployment coupled with an… Read more
Abstract: America needs jobs. A government committed to free enterprise, limited government, and individual freedom, and not to more borrowing and spending, can properly help. To help unleash the private sector to invest and create jobs, Congress should promptly take five specific actions: enact… Read more
Last week, President Obama said he would soon propose a set of policies that would eliminate tax breaks for businesses that move jobs overseas and reward businesses that bring jobs to the U.S. as part of his new “insourcing” agenda. If the President proposes more of… Read more
The Congressional Budget Office (CBO) warns that a tax on certain financial transactions could “diminish the importance of the United States as a major financial market” and that, in the short run, “imposing the transaction tax would probably reduce output and employment.”[1] While these effects would be “mitigated”… Read more
In December, the labor market continued its improvement by adding 200,000 jobs, and the unemployment rate fell again to 8.5 percent, the lowest level since February 2009. The annual year-end revisions to the unemployment rate confirm the gradual but significant improvement in the labor market since the end of summer.… Read more
Unemployment remains stuck at 9 percent because of low job creation, not higher job losses. In fact, job losses hit a record low in March 2011. Fewer entrepreneurs are starting new companies, and fewer business owners are expanding existing enterprises. Reduced job creation entirely explains the economy’s high… Read more
Abstract: With a high unemployment rate and a struggling economy, passing legislation that discourages job creation would seem counterintuitive. And yet, by pushing for the Fair Empolyment Opportunity Act (FEOA) this is precisely what President Obama and some Members of Congress propose. The FEOA… Read more
The Bureau of Labor Statistics reported that the U.S. economy created 80,000 total jobs in October, and the unemployment rate had a slight decline to 9 percent. The private sector added 104,000 jobs, while government jobs fell by 24,000. The labor market is adding jobs and holding steady but not… Read more
For more on government spending, read Brian Reidl's new paper "Why Government Does Not Stimulate Economic Growth" ------ … Read more
Abstract: The number of Americans who pay taxes continues to shrink—and the United States is close to the point at which half of the population will not pay taxes for government benefits… Read more
Abstract: 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… Read more
The Democratic majority in the U.S. House of Representatives must decide whether to write a budget extending, expiring, or repealing the Bush tax cuts. These tax cuts have provided a convenient scapegoat for the nation's budget and economic challenges. Despite a 42 percent spending increase in 2001, critics charge that… Read more
In just over a generation, Ireland has evolved from one of the poorest countries in Western Europe to one of the most successful. It has reversed the persistent emigration of its best and brightest and achieved an enviable reputation as a thriving, knowledge-driven economy. As a… Read more
Abstract: Since 1996, Congress after Congress has voted to lighten the tax burden on Americans. The current Congress will decide this fall whether to continue this policy or to significantly raise personal income taxes. President Obama has advanced a plan that reverses the long-standing… Read more
Chairman Warner, Ranking Member Johanns, thank you for the opportunity to testify today. My name is J.D. Foster. I am the Norman B. Ture Senior Fellow at The Heritage Foundation. The views I express in this testimony are my own, and should not be construed as representing any official position… Read more
Testimony of Paul Kersey Bradley Visiting Fellow Before the House of Representatives; Small Business Committee; Subcommittee on Workforce, Empowerment, and Government Programs Regarding The Economic Effects of the Minimum Wage Ladies and gentlemen, it is understandable to want to… Read more
Abstract: There is little dispute that the current federal income tax is in real need of an overhaul. The heart of tax reform is to achieve a stronger economy through the adoption of a more economically neutral tax system featuring much lower marginal… Read more
Did World War II spending boost economic growth? Although some statistics appear to affirm this, wiser historical...… Read more
Silicon Valley is one of the few bright spots in the U.S. economy today, but a new report warns that Washington’s...… Read more
Evidence shows that “austerity” during a sharp downturn in 1920 coincided with quick economic recovery and robust growth...… Read more
In the currently battered U.S. economy, with high unemployment and bleak growth prospects, politics has become a contest...… Read more
Sen. Mike Lee (R-UT) came to Washington as the a tea-party conservative with the goal of fixing the economy,...… Read more
Catching you up on clips, commentary and news of the day. Sign up for the daily email update from Scribe. The Movie...… Read more
Reuters has this morning's bad news on the economic front: The U.S. economy came perilously close to flat-lining in the...… Read more
President Obama and congressional leaders can't seem to agree on any plan to avert a debt crisis. As the White House's...… Read more
In this week’s Heritage in Focus, labor economist Rea Hederman discusses last month’s job report. Listen to the full...… Read more
Want to know why the economy is still dragging along with stagnant growth and 9.1 percent unemployment? Travel back in...… Read more
Distinguished Fellow and Director, Center for Policy Innovation
Director, Thomas A. Roe Institute for Economic Policy Studies
Director, Center for International Trade and Economics and the Mark A. Kolokotrones Fellow in Economic Freedom