Here’s a preview of the week ahead in Washington.
Recent troubles with the financial and housing markets have lead to proposed action by Congress to help distressed homeowners and to find a government solution to the Bear Stearns collapse. Massive new billion-dollar handouts to aid homeowners and utilizing sweeping new power for the Federal Reserve will do nothing to change the fact that our economy is in a slowdown. Why doesn’t Congress reduce regulation, reduce taxes and allow for more domestic drilling for oil to lower energy prices? These three items would provide true stimulus to the economy.
This Thursday at 10 a.m., Heritage will host a speech about the Constitution and U.S. presidential campaigns. Professor Andrew Busch will discuss how Republicans and Democrats appeal to Constitutional arguments more frequently during current presidential campaigns as compared to the campaigns of the 1960s and 1970s.
Heritage’s James Gattuso argues that federal regulations cost $1.1 trillion to the American taxpayer every year. In fiscal 2007, the Bush administration imposed $11 billion in the form of new regulations. Regulations cost money and the federal government should stop harmful regulating our economy into a recession.