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.
The Bureau of Labor Statistics reported that the economy added 115,000 jobs in April and the unemployment rate declined to 8.1 percent from 8.2 percent. However, further declines in the percentage of Americans in the labor force explain this slightly lower unemployment rate. Indeed, the labor force participation rate dipped…
By now, it should be clear even to casual observers that the Volcker Rule, which was intended to limit the “risky” activities of banks by banning them from certain types of transactions, will be nearly impossible to implement without severe unintended damage to the U.S. financial system and many other…
As the national debt races toward $17 trillion and nearly 13 million Americans search fruitlessly for work, America needs bold changes from its leaders. Congress must get federal spending and borrowing under control and get out of the way of job creation in the private sector. …
The Bureau of Labor Statistics has reported that businesses and governments increased payrolls by 227,000 jobs in February and that the unemployment rate remained at 8.3 percent. The unemployment rate remained flat even as the labor market increased by 476,000 potential workers. Job creation was robust enough that the labor…
Testimony Before the Committee on Finance United States Senate Chairman Baucus, Ranking Member Hatch,…
Abstract: Japan’s “lost decade” has turned into two; and Japan is not alone. Staggering amounts of public debt and stagnant economies have become a problem from the EU to the U.S. Despite twenty years of evidence to the contrary, the belief persists that deficit…
FYI: Heritage WebMemos are now called Issue Briefs. Congressional leaders have agreed to maintain extended unemployment insurance (UI) benefits while reducing maximum benefit duration to one-and-a-half years. The legislation moves in the right direction, but in an improving labor market, Congress…
President Obama recently sent Congress a series of policies as part of his “Startup America Initiative.”[1] The goal of the program is to help startups and small businesses to create jobs. The proposal includes four tax provisions that he also included in his budget. Some…
Abstract: In his third State of the Union address, President Obama, pointing to two years of job growth and the fastest job creation since 2005, argued that America’s economy is roaring back. These positive numbers lack context: In normal economic times they would represent…
Testimony before The Joint Economic Committee United States Congress February…
For more on government spending, read Brian Reidl's new paper "Why Government Does Not Stimulate Economic Growth" ------ …
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…
Saving the American Dream is The Heritage Foundation’s plan to fix the debt, cut spending and, above all, restore prosperity. It balances the nation’s budget within a decade—and keeps it balanced. It reduces the debt and cuts government…
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…
As is apparent from President Obama’s declining approval ratings, the majority of Americans have lost confidence in the ability of Washington’s leadership to get the economy moving again. More to the point, many now recognize that the $814 billion in spending authorized by the American Recovery and Reinvestment Act (ARRA)…
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…
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…
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…
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…
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…
Did World War II spending boost economic growth? Although some statistics appear to affirm this, wiser historical...…
Silicon Valley is one of the few bright spots in the U.S. economy today, but a new report warns that Washington’s...…
Evidence shows that “austerity” during a sharp downturn in 1920 coincided with quick economic recovery and robust growth...…
In the currently battered U.S. economy, with high unemployment and bleak growth prospects, politics has become a contest...…
Sen. Mike Lee (R-UT) came to Washington as the a tea-party conservative with the goal of fixing the economy,...…
Catching you up on clips, commentary and news of the day. Sign up for the daily email update from Scribe. The Movie...…
Reuters has this morning's bad news on the economic front: The U.S. economy came perilously close to flat-lining in the...…
President Obama and congressional leaders can't seem to agree on any plan to avert a debt crisis. As the White House's...…
In this week’s Heritage in Focus, labor economist Rea Hederman discusses last month’s job report. Listen to the full...…
Want to know why the economy is still dragging along with stagnant growth and 9.1 percent unemployment? Travel back in...…
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