Issue Brief posted July 24, 2014
IMF Wants U.S. Taxpayers to Shoulder More Risk
The International Monetary Fund’s (IMF) report on its 2014 Article IV consultation with the United States highlights the importance of securing a safer financial system. The IMF’s policy recommendations would, however, achieve the opposite while putting U.S. taxpayers at risk.
IMF Report Gets Housing Finance Wrong
For starters, the IMF report states the U.S. should…
Issue Brief posted July 2, 2014
The IMF Is Following the Obama Administration’s Playbook on the Federal Budget
The International Monetary Fund’s report on its 2014 Article IV Consultation with the United States risks encouraging inaction by U.S. lawmakers on adopting structural entitlement reforms to control U.S. spending and debt growth. The IMF report suggests institutional budget reforms to “lessen fiscal policy uncertainty,” citing “recent experience of debt ceiling…
Issue Brief posted March 24, 2014
11 Issues for Congress in the President’s FY 2015 International Affairs Budget Request
President Barack Obama released his fiscal year (FY) 2015 budget proposal on March 4, 2014. Although much of the budget reflects long-standing programmatic and budgetary practice, there are 11 specific issues that Congress should address.
The President’s FY 2015 budget request for International Affairs (IA) totals $50.01 billion, including a base budget of $44.1 billion…
Issue Brief posted March 7, 2014
Aid to Ukraine Should Not Be Held Hostage by IMF Politics
The Obama Administration is insisting that before Congress can support courageous, Westward-looking Ukrainians, it must first reduce the power of the United States at the International Monetary Fund (IMF). The White House wants Congress to attach its approval of an IMF governance “reform package” that has been pending for three years to any legislation providing…
Issue Brief posted January 14, 2014
Congress Should Block the Morally Hazardous IMF “Reform” Package
A little-known provision purported to be in the fiscal year 2014 omnibus spending bill currently being debated in Congress would chip off yet another little piece of American sovereignty—handing it and potentially billions of U.S. taxpayer dollars over to international civil servants at the International Monetary Fund (IMF) to bail out economically distressed…
Issue Brief posted May 24, 2013
Congress Should Query IMF Support for Capital Controls
The International Monetary Fund (IMF) recently weakened its long-held institutional support for the free flow of capital across national borders. The IMF’s new view, described most clearly in a document entitled “The Liberalization and Management of Capital Flows: An Institutional View,” which was endorsed by the IMF governors in December 2012, is that temporary…
Special Report posted February 17, 2012
America’s Global Agenda for Economic Freedom
Abstract: Promoting economic freedom at home and abroad is essential to revitalizing the U.S. economy. In 2010, for the first time ever, the United States fell from the ranks of the economically free in the Index of Economic Freedom, and economic freedom in the U.S. has continued to decline. The U.S. influence can be decisive in promoting property rights and…
Backgrounder posted March 4, 2011
Holding the Kirchners Accountable for Argentina’s Economic Freefall
In Argentina, the rule of law and free-market principles have been weakened dramatically over the past decade. Under the leadership of Nestor and Cristina Kirchner, economic freedom in Argentina has been in a virtual freefall, corruption has been rampant, and the government’s ties to strongmen in the region, such as Venezuela’s Hugo Chávez, are…
Center for Data Analysis Report posted October 14, 2010
The 2010 Index of Dependence on Government
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 they receive. In 2009, 64.3 million Americans depended on the government (read: their fellow citizens) for their daily housing, food, and health care. Starting in 2015, the Social…
Special Report posted September 28, 2010
Slay the Beast: How You Can Save Us from the Massive Debt
Revised and updated October 23, 2012.
Washington’s reckless spending spree of the past several years and unwillingness to confront the mountains of debt coming soon from unreformed federal entitlement programs threaten the economic and social future of the generation currently between the ages of 5 and 30.
The 115 million Americans in this Debt-Paying…
Special Report posted September 21, 2010
Smart Multilateralism and the United Nations
Abstract: Multilateralism is not an end in itself. It is one of many foreign policy tools, admittedly a very important one, in the diplomatic kit. For the United States, multilateralism faces its greatest challenge at the United Nations, where the all-too-frequent clash of worldviews between liberty and authoritarian socialism has stymied multilateralism more than…
WebMemo posted July 27, 2010
U.S. Long-Term Debt Situation Is One of the World’s Worst
This year, the U.S. public debt is projected to reach 62 percent of the economy—up from 40 percent in 2008 and nearly double the historical average, according to recent Congressional Budget Office (CBO) estimates. The financial crisis and recession drove much of this debt swing, yet larger problems loom in the future.
By 2030, the CBO projects that debt will more than…
Backgrounder posted June 28, 2010
The 2010 Index of Dependence on Government: Dramatic Spike in Dependence Projected
Year after year, The Heritage Foundation’s Index of Dependence on Government documents the ever-growing number of federal aid programs and the ever-growing number of Americans who rely on government
subsidies for their existence. The number of Americans who now pay no taxes has passed 35 percent. The International Monetary Fund predicts financial…
Backgrounder posted June 22, 2010
What the EU Bailout Means for the U.S.
Abstract: Long-run federal spending is wildly unsustainable, as almost everyone from right to left agrees. Under President Obama, this long-run problem has been married to an almost equally unsustainable short-run problem of deficit spending. Thus, to watch developments in Europe today is to peer through a clear window into America’s own future. As the nation runs…