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  • Issue Brief posted April 29, 2016 by Luke Coffey, Daniel Kochis The 1997 NATO–Russia Founding Act Does Not Prohibit Permanent NATO Bases in Eastern Europe

    It is widely believed that in 1997, NATO promised Russia that it would not establish permanent military bases in any former Warsaw Pact countries that might someday become NATO members. This is in fact a myth that has been perpetuated by the Kremlin’s propaganda machine, as well as by the lack of diligent research and basic knowledge among commentators, politicians, and…

  • Backgrounder posted April 28, 2016 by Norbert J. Michel, Ph.D. The Glass–Steagall Act: Unraveling the Myth

    The 1933 Glass–Steagall Act is still admired by many who believe its separation of commercial and investment banking banned the high-risk activities that caused the Great Depression. Yet there are so many myths and falsehoods surrounding this notion—and the Act itself—that it is difficult to comprehend how little supporting evidence Congress uncovered prior to passing the…

  • Backgrounder posted April 28, 2016 by Norbert J. Michel, Ph.D. The Myth of Financial Market Deregulation

    A persistent myth regarding the 2008 financial crisis is that it was caused by deregulation of financial markets. All such claims are wrong. From an aggregate perspective, the industry has always been regulated, and there has never been a substantial reduction in financial regulations in the U.S. during the past 100-plus years. Instead, this time period has included an…

  • Issue Brief posted April 28, 2016 by Bryan Riley A Trade Policy that Puts Americans First

    Congress should eliminate all tariffs on inputs used by U.S. manufacturers to compete in the global economy. In 2015, 45 percent of all U.S. imports were “intermediate goods” ranging from aircraft parts to oil to zinc. U.S. manufacturers rely on these imports to create American jobs and compete in the global marketplace. Another 20 percent of imports were capital goods…

  • News Releases on April 28, 2016 Heritage Responds to Troop Level Increase

    As President Barack Obama announced an increase of 250 special operators to fight ISIS, Luke Coffey, director of the Douglas and Sarah Allison Center for Foreign Policy, warns that it should not be mistaken as the solution to the ISIS problem:  "The first question we need to ask is whether this is enough to make a difference on the ground. This is part of the…

  • Backgrounder posted April 28, 2016 by Diane Katz Consumer Financial Protection Bureau: Limiting Americans’ Credit Choices

    The Consumer Financial Protection Bureau (CFPB) was established under Title X of Dodd–Frank to “regulate the offering and provision of consumer financial products or services under the Federal consumer financial laws.”[1] Prior to its creation, authority for some 50 rules and orders stemming from 18 consumer-protection statutes[2] was divided among seven agencies.[3] But…

  • Issue Brief posted April 28, 2016 by Luke Coffey, Daniel Kochis The Role of Sweden and Finland in NATO’s Defense of the Baltic States

    Militarily speaking, the three Baltic States—Estonia, Latvia, and Lithuania—are isolated from other NATO members. It would be extremely difficult, but not impossible, for NATO to respond to an incident in the Baltic region without the acquiescence of non-NATO Finland and Sweden. Russia knows this—and exploits this weakness to its advantage. The U.S. must plan for any…

  • Issue Brief posted April 27, 2016 by Theodore R. Bromund, Ph.D. Britain at the “Back of the Queue”? Why Obama Is Wrong About Trade and Brexit

    During an April 22 press conference with British Prime Minister David Cameron, President Barack Obama stated that, were Britain to leave the European Union, Britain would end up at the “back of the queue” for a trade deal with the United States. Observers wrongly understood this to mean that the U.S. would not negotiate with Britain until it had completed negotiations…

  • News Releases on April 26, 2016 Heritage Founder Ed Feulner on the Life of Shelby Cullom Davis

    Last week, OurAmericanNetwork.com and Hillsdale College told the remarkable life story of stalwart conservative, philanthropist, and former Heritage Foundation board chairman Shelby Cullom Davis. He had ancestors who came over on the Mayflower on his father’s side. He knew what American history was about and what the founding was about and why that was important to…

  • Executive Summary posted April 26, 2016 by Norbert J. Michel, Ph.D. The Case Against Dodd–Frank: How the “Consumer Protection” Law Endangers Americans

    The Case Against Dodd–Frank: How the “Consumer Protection” Law Endangers Americans grew from a shared concern among the contributing authors about the direction that financial regulation in this country has taken since the 2007–2009 financial crisis due to the regulations of the 2010 Dodd–Frank Wall Street Reform and Consumer Protection Act. Rather than dealing with the…

  • News Releases on April 25, 2016 Stripping of Energy Tax Breaks From FAA Bill Reflects Heritage Foundation Work

    Washington, D.C., April 25, 2016 — For years, The Heritage Foundation has recommended that Congress prohibit new energy subsidies that stifle competition, raise energy prices, and decrease economic opportunities.  Finally, last week, the Senate shifted from the way it usually operates and dropped plans to include energy tax breaks in legislation reauthorizing the Federal…

  • Issue Brief posted April 25, 2016 by Justin Bogie, Daren Bakst, Nicolas Loris, Katie Tubb 2017 Senate Energy and Water Appropriations: Bill Falls Short on Key Policies

    This week, the Energy and Water Development appropriations bill is expected to be debated on the Senate floor. The first of 12 appropriations bills providing discretionary funding for the federal government, the bill provides funding for projects under the direction of the U.S. Army Corps of Engineers, the Department of the Interior’s Bureau of Reclamation, the Department…

  • Issue Brief posted April 22, 2016 by Daniel Kochis Four Priorities for President Obama’s Last Visit to Germany

    President Obama is visiting Germany on April 24 and April 25. He will help open the Hannover Messe, a famous industrial trade fair, alongside Chancellor Angela Merkel on Sunday. On Monday, the leaders of France, Italy, Germany, the United Kingdom, and the United States will meet to discuss the migrant crisis and terrorism. Germany is an important security partner of the…

  • Backgrounder posted April 22, 2016 by David W. Kreutzer, Ph.D., Nicolas Loris, Katie Tubb, Kevin D. Dayaratna, Ph.D. The State of Climate Science: No Justification for Extreme Policies

    Hysteria over global warming is now pervasive in the federal government, driving not just the Obama Administration’s energy and environmental policies, but also those of nearly every federal department and agency.[1] Throughout his term in office, President Obama consistently has said that policy action to combat man-made global warming is imperative and urgent. On the…

  • News Releases posted April 21, 2016 by Steven Groves Heritage Statement on Signing of Paris Agreement on Climate Change

    "Signing on to the Paris Agreement on climate change is a terribly expensive mistake. The pact commits Washington to regulate our economy even more heavily in the name of climate change, yet it will have essentially zero impact on global temperatures. It will, however, seriously damage the American economy – sharply driving up energy costs, killing jobs and raising prices…