I am not generally a big fan of lame-duck sessions because such a large number of soon-to-be former senators and congressmen are voting on their way out the door. But Congress must do something about a looming multi-employer pension plan disaster or we could see very difficult economic times ahead.
Multi-employer pension plans have more than $600 billion of unfunded liabilities and are dangerously close to failing. Once these endangered plans fail, others will not be far behind. Additionally, state and local governments have about $6 trillion in unfunded pension promises. If these potential failures come to fruition, it could be a disaster far worse than the 2008 housing bust.
The White House understands the risks and has met with the chief players on Capitol Hill, encouraging them to work together to find a lasting solution. Continue reading
By Christopher Jacobs • The Federalist
Now they tell us! A Gallup poll, conducted last month to coincide with the midterm elections and released on Tuesday, demonstrated what I had posited for much of the summer: Individuals care more about rising health insurance premiums than coverage of pre-existing condition protections.
Of course, liberal think tanks and the media had no interest in promoting this narrative, posing misleading and one-sided polling questions to conclude that individuals liked Obamacare’s pre-existing condition “protections,” without simultaneously asking whether people liked the cost of those provisions.
Overwhelming Concern about Premiums
The Gallup survey asked the public whether it viewed each of four scenarios as a major concern for them. Among those: “Your health insurance plan will require you to pay higher premiums or a greater portion of medical expenses,” and “you or someone in your immediate family will be denied health insurance coverage for a pre-existing medical condition.” Continue reading
By Senator Ben Sasse (NE) • Wall Street Journal
Brett Kavanaugh has been accused of hating women, hating children, hating clean air, wanting dirty water. He’s been declared an existential threat to the nation. Alumni of Yale Law School, incensed that faculty members at his alma mater praised his selection, wrote a public letter to the school saying: “People will die if Brett Kavanaugh is confirmed.”
It’s predictable now that every Supreme Court confirmation hearing will be a politicized circus. This is because Americans have accepted a bad new theory about how the three branches of government should work—and in particular about how the judiciary operates. Continue reading
By Cameron Cawthorne • Washington Free Beacon
Sen. Joe Manchin (D., W.Va.) on Wednesday praised President Donald Trump’s Supreme Court nominee for having “all the right qualities.” But he stopped short of giving a full endorsement, saying he will listen to his constituents about their opinions of the nominee.
Manchin appeared on West Virginia MetroNews, a statewide radio station, where host Hoppy Kercheval asked him whether he was going to to support nominee Brett Kavanaugh.
“Do you have a lean today?” Kercheval asked.
“No, I don’t have a lean. I think he seems to be a very fine person of high Continue reading
By now a lot of professional Democrats—campaign consultants, party leaders and the like—are probably wishing they’d never heard the term “big, blue wave.” It set expectations so high for the next election that almost any outcome short of a total rout of the GOP will go into the record books as a disappointment.
If the parties fight to a draw—GOP ends up in control on both sides of the Capitol with a diminished majority in the U.S. House of Representatives and better numbers than it currently enjoys in the U.S. Senate, and the number of Republican governors and GOP-led state legislative chambers does not change appreciably (which is how things would probably turn out were the election held today)—then the Democrats will have been seen to have suffered a major defeat.
Nancy Pelosi, Chuck Schumer and other leading Democrats had hoped to nationalize the election by making it a referendum on President Donald Trump’s first two years in office. They may still get the opportunity to do that—Trump, as the events on the U.S. border with Mexico reminds us, is often his own worst enemy. Nevertheless, most of the news is good as the economy has roared back to life and Continue reading
By Heather Wilhelm • National Review
After a week of political chaos, endless dispatches of depressing news from the border, and widespread evidence of years of government incompetence, I have a proposal certain to unite citizens of all political stripes. Here it is: Let’s fire every single politician in Washington, D.C.
Admit it, friends: Deep down, you love this plan. In an ideal world, you might want to fire every single politician in Washington, D.C., right away — I personally have a few honorable and notable exceptions in mind, but it’s probably best to keep everyone on their toes — but we all know that’s not realistic. Fortunately, there’s an alternative idea that is at least somewhat realistic, despite naysayers from both parties: term limits.
We already have term limits for the president, of course, which I hope you find marvelous no matter who is in office. But what about Congress, that multi-headed beast with a 17 percent approval rating and an impressive penchant for getting almost nothing meaningful or important done? Continue reading
Government shutdowns are petty, but they're rarely as detrimental as pundits and politicians fear.
By US News•
For various reasons it’s become popular to threaten to shut down the federal government. Whether that goes back to the Reagan years when Democrats would run out the clock on the fiscal year to try and force spending increases the White House didn’t want or the years in which the tea party Republicans decided the American people would stand with them in closing the government to stop Obama initiatives, there are people in government who believe hanging the “Closed” sign on the Washington Monument is a political winner.
It isn’t. It makes everyone involved look petty and small. The American political process is by design deliberative. The founders designed a system that forced compromise between regions of the country, between politicians of dissimilar views and of competing interests at all levels of government. Pushing the government to close because there’s no money to run it is akin to taking one’s ball home from the playground because the other kids will not agree to play the game by the rules you want.
All that said, the government never really shuts down. The president is allowed far too much discretion to declare services essential, meaning all kinds of people get to stay on the job without pay, working away as usual processing government checks, funding grants, administering programs and doing all kinds of things that, while they might be the purpose for which people get up and go to work each day, would hardly be classified as “essential” in any kind of real emergency. Continue reading
By Mattie Duppler • National Review
There is now discussion of reviving earmarks: the practice, banned in the House of Representatives since 2010, of inserting funding for lawmakers’ pet projects into bills to secure their support. Earmarks epitomize the obsequious logrolling that makes Washington the most hated place in the nation (on earth?) — and their absence has proved crucial to the Republican effort to restrain government spending, one of the great untold success stories of the past eight years. That Republicans would even suggest earmarks should be restored reveals at best an unsophisticated grasp of spending mechanisms, and at worst a complete abandonment of the victories the party has scored in restraining Washington’s spendthrift instincts.
It is often forgotten what two years of the Obama-Pelosi-Reid triumvirate augured for the size of government. Federal spending, which had generally held steady around 20 percent of GDP in the modern era, was projected to rise to more than 26 percent of GDP by 2020 after just two years of Democratic control.
House Republicans, driven to power by Americans who recoiled at this looming threat of unstable government growth, promised to turn this around. And they did: Through dogged spending cuts in bimonthly continuing resolutions, and then with the imposition of budget caps in the Budget Control Act in August of 2011, Republicans erased the spending legacy of the Pelosi- and Reid-led Congress, which only a few years earlier had been eyed wearily as the new normal. Today federal spending stands at about 21 percent of GDP.
By Michael Barone • National Review
The Republicans have passed their tax bill, without a single Democratic vote, despite low to dismal poll ratings. It’s reminiscent of the passage by Democrats, without a single Republican vote, of Obamacare in March 2010.
Democrats lost 63 seats and their House majority that fall. Republicans hope they won’t follow suit. They argue, accurately, that their bill will lower taxes for almost all taxpayers and that it will stimulate economic growth, which already has risen above the growth in the Obama years.
The effects of Obamacare, in contrast, were harder to model, and some backers’ claims — if you like your insurance, you can keep it — soon were revealed as glaringly untrue. We’ll see whether the greater simplicity of the tax bill makes a difference in political fallout.
One thing in common between the two bills is that voters have seemed congenitally skeptical about the claims of the party in power. Obamacare continued to be unpopular until, presto, Donald Trump took office and Republicans threatened repeal.
By Peter Roff • USNews
Serious people are starting to wonder if tax reform can pass, largely because they’re only talking to people inside Washington.
Instead they should talk to the American people. Most of them are hungry for it. A quarter of small business owners surveyed by CNBC/Survey Money said taxes were the most critical issue they currently face. Overall it’s their No. 1 concern and, since small business is the engine of growth in the U.S. economy, that’s an important consideration.
Things have improved since Election Day 2016, but the economy is still not growing like it needs to if we are to have hope of ever paying down the national debt, now equal to about one year’s U.S. GDP. Continue reading
By Matthew RJ Brodsky • National Review Online
Republicans have more or less coalesced into two primary political camps regarding the nuclear deal with Iran. Call them “the Fixers” and “the Walkers.” Both see the agreement as fundamentally flawed and would never have offered what the Obama administration gave away. They recognize the deal as both technically and structurally deficient, setting Iran on a patient path toward nuclear weapons while tying America’s hands until the Iranian nuclear program is industrial in scale, lethal in scope, and too costly and difficult to destroy from the outside.
While sharing the same objective vis-à-vis Iran, the two camps differ on the strategy for preventing such an outcome and thus favor divergent paths to reestablish American leverage. Their conflicting aims will become all the more pronounced once President Trump withholds his certification of the deal as a first step down one path or the other. Continue reading
By John Daniel Davidson • The Federalist
At the risk of interrupting our endless culture wars with some boring policy health policy news, congressional Republicans are on track to allow a brand new Obamacare tax to take effect next year, making health insurance even more expensive for millions of Americans. Beginning in January 2018, an Obamacare tax on health insurance plans for individuals and small businesses will go into effect—unless the GOP-controlled Congress delays it.
They’ve delayed it before. The tax was in place from 2014 to 2016, but in December 2015, Congress placed a one-year moratorium on collecting the tax for all of 2017, an estimated $13.9 billion. If the tax is allowed to go back into effect next year, it’ll be at a higher level, hauling in an estimated $14.3 billion and affecting more than 11 million households buying insurance on the individual market and 23 million households who are insured through small employers. Continue reading