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Cash for Clunkers Highlights Failure of Obamanomics

Remember “Cash for Clunkers”? The lamebrained White House program that gave up to $4,500 to encourage owners of older cars to trade up? Pretty much anyone with a fundamental grasp of economics realized what a terrible idea this was. Of course, Democrats have shown that they have no such understanding. Which is partly why we could do nothing but shake our head in 2010, when Transportation Secretary Ray LaHood patted himself on the back for his brilliant idea.  “Cash for Clunkers was wildly successful,” said LaHood. “In a matter of weeks, Americans traded in nearly 70,000 gas guzzlers for more…

Filling the Funding Gap – House Republicans Pass Bills to Spur Entrepreneurs

It’s undeniable that the internet has changed the way Americans live their lives. The emergence of social networking tools like Facebook, Twitter, and Google+ have also revolutionized how Americans interact and do business. But while the business landscape has changed, the regulatory landscape is straight out of the 1950s. This past week, House Republicans took steps to bring those regulations into the modern era by amending securities laws to allow entrepreneurs to do something called “crowdfunding.” One of the less talked about crises that is holding the American economy back is the widening gap between the number of entrepreneurs and…

Are You Better Off Now Than You Were Four Years Ago? Obama, Says Yes

The 1980 election between Jimmy Carter and Ronald Reagan was a turning point for American conservatives. Under Carter, Iranian radicals had held hostages in the American Embassy for just under a year. The economy was struggling and inflation was running rampant. Following the Iranian Revolution, gas prices were skyrocketing and there were mile-long lines at every filling station. It was against this backdrop that Ronald Reagan asked Carter an all-important question. Just one week before the election in the final broadcast debate, Reagan asked the crowd “Are you better off now than you were four years ago?” This past week…

Another Green Energy Company Bites the Dust, Senate Set to Vote on More Stimulus

Apparently green companies are having trouble staying out of the red. Yet another green technology company that received a taxpayer-back loan from the Department of Energy has filed for bankruptcy. The Wall Street Journal reports, “On Sunday Beacon Power Corp. filed for bankruptcy protection, less than a year after the Tyngsboro, Massachusetts-based company received an Energy Department loan guarantee of some $43 million.” The problem with Beacon, as with many green energy companies, is that the technology and maintenance costs are vastly more expensive than the product they create. In the private sector, that’s what they would call a bad…

Forget Hand Outs, GOP Wants to Give Americans a Hand Up

A little more than two weeks ago President Obama presented remarks at the official unveiling of the Martin Luther King Jr. memorial on the National Mall. For that one day, the President shed the divisive rhetoric that has sadly come to define his recent approach to job creation. “At this moment, when our politics appear so sharply polarized, and faith in our institutions so greatly diminished, we need more than ever to take heed of Dr. King teachings,” Obama said. Later adding that, “[King] would want us to know we can argue fiercely about the proper size and role of…

We Can’t Wait . . . For the Democrat-Held Senate to Act

At every campaign stop and with every passing speech President Obama never misses a chance to drop his “We Can’t Wait” attack against Congressional Republicans. “They’re not getting the message,” Obama said in his weekly address, “[and] the truth is, we can no longer wait for Congress to do its job.” Interesting, coming from a President who has done little over the past year to promote job creation, while the Republican-led House continues to pass bills to help create the environment for economic growth. The hypocrisy of the President’s position hasn’t been lost on everyone. “You are saying you can’t…

Taxpayer Loan to Russian Billionaire the Latest Green Energy Boondoggle

Taxpayer funded stimulus is bad enough. Over the past two years we’ve seen just how inefficient Washington is at turning our money into jobs. But taxpayer funded stimulus to foreign billionaires? That’s enough to make the Occupy Wall Streeter’s and the Tea Partier’s heads explode. Sadly, that is the latest news from President Obama’s “green energy” initiative. From Pajamas Media: “Another controversial U.S. Department of Energy “green” loan is coming under scrutiny. Last July the Obama administration issued a $730 million low interest “green” loan to Russia’s second largest steel company, whose chief executive is a Russian tycoon personally worth…

Obama’s Student Loan Plan Will Only Further Inflate the Tuition Bubble

The soaring cost of going to college is a problem that has too often been overlooked. While Washington is fixated (and rightly so) on housing prices, health care costs, and (wrongly so) on reelection, college is quickly becoming unaffordable for many Americans. It’s become what we call a “band-aid” problem – one in which the government slaps a quick fix, or band-aid, on and moves on to issues perceived to be more important. Even if it was merely a crude attempt to woo young voters, President Obama has taken steps to change that. “How do we make college more affordable,”…

Lots of Show, Little Substance in Obama’s Student Loan Plan

This year, for the first time in our nation’s history, the amount of outstanding student loans will exceed $1 trillion. Sadly, that number figures to rise given that more than $100 billion in loans were taken out last year alone. This is the makings of a crisis. Unfortunately, rather the attempt to solve it, President Obama is following his former Chief of Staff Rahm Emanuel’s advice – “Never let a crisis go to waste.” Young adults were one of Obama’s most important constituencies in 2008. Of the 22 million Americans under 30 voted, Obama won the group by a two-to-one…