Economy & Budget

Surprised economists not good for the economy

A young person following the news for the first time would probably think that an economist is someone who gets on television to say how surprised he is by the economy. Yesterday, the economists were out in force telling us how surprised they were by the 27 percent drop in existing home sales in July. This was the sharpest one-month drop in sales ever recorded and left monthly sales at their lowest levels since 1999.


Open trade season: Steps for job creation

America needs balanced trade. Three years ago, the imbalance reached almost one trillion dollars per year. The latest numbers show the imbalance is getting worse again, now at $600 billion per year. Every one billion “deficit dollars” represent 20,000 “deficit jobs.” These are jobs lost to outsourcing, to other nations.


Time for a fresh start (Rep. John Boehner)

Thank you for being here.  I know this is the beginning of another long day for you – trying to make heads or tails of this economy, trying to make decisions without knowing what the next week, or even the next day, will bring.  Working at my dad’s bar in Reading, mopping floors and waiting tables, I watched him and the folks in our neighborhood agonize over these decisions.  Later, I had to make them myself running a small business in West Chester. 


U.S. trails behind Canada in economic growth

If it wasn’t bad enough that we lost in the hockey finals to “Our Neighbor to the North” at the Winter Olympics earlier this year, we now trail Canada in a slightly more consequential indicator – economic freedom. Every year the Heritage Foundation issues the Index of Economic Freedom and for the first time in, well ever, we no longer represent the “freest” economy in North America.


Cost of government day (Rep. Paul C. Broun)

Today marks the first day of the year that the average American is not working for the government.  According to Americans for Tax Reform, it took 231 days for the average American to “to pay off his or her share of the spending and regulatory burdens imposed by government on the federal, state, and local levels.”


The first director of CFPA

The tone reflected by the news stories proceeded much like this:

Landmark legislation can finally protect the public from hidden dangers which might happen to any of us any day. For the first time we have the real prospect that products will be safer and that we will know more about the dangers in store. But this can happen only if the new Agency has an independent and assertive start under an experienced leader with loyalties that run toward the public interest, and not toward special interests who have from the start tried to kill the new authority. The new director will, for better or worse, personify the strength of this new effort. There can hardly be any doubt about who the head of the new agency should be. The question is who will it actually be?


We should be working together on Social Security (Rep. John Boehner)

WASHINGTON, D.C. — House Republican Leader John Boehner (R-OH) released the following statement marking tomorrow's 75th anniversary of Social Security:

“For 75 years, the Social Security program has served the needs of millions of American seniors, and Republicans are committed to protecting Social Security and preserving this invaluable program for current and future generations of retirees.  The Social Security and Medicare Trustees have repeatedly warned Congress and the American people that reforms are necessary or future benefits will be threatened.


Democrats stand strongly by Social Security (Rep. Steny H. Hoyer)

WASHINGTON, DC – House Majority Leader Steny H. Hoyer (D-Md.) released the following statement on the 75th anniversary of Social Security, which is tomorrow, August 14:
“For 75 years, Social Security has stood as an unbroken promise to America’s seniors: that after a lifetime of hard work, they have the assurance that they can retire with real security.  Where many seniors were once faced with a life of poverty, for the last 75 years they have instead been able to lead a life of dignity.


Still fighting 75 years later for Social Security (Sen. Harry Reid)

Washington, DC –Nevada Senator Harry Reid released the following statement today to recognize the 75th anniversary of Social Security on Saturday:

"Since its creation 75 years ago, Social Security has allowed tens of thousands of Nevadans to retire with grace and dignity.  Throughout my career, I have fought to strengthen and preserve Social Security, and I will continue to fight to make sure that our parents, grandparents and loved ones can enjoy their golden years with well-deserved peace of mind. 


Fixing our enormous fiscal gap (Rep. Michele Bachmann)

It’s no secret the U.S. government is in dire financial straits, but Democrats keep spending billions like its Monopoly money. The International Monetary Fund (IMF) recently released its annual review of U.S. economic policy, so since Democrats have ignored the warning signs until now, its time to listen up.