By Rand Paul
Obama acts as though we no longer have a Constitution
The Joint Economic Committee (JEC) is one of four standing joint committees of the U.S. Congress. The committee was established as a part of the Employment Act of 1946, which deemed the committee responsible for reporting the current economic condition of the United States and for making suggestions for improvement to the economy. The JEC is chaired by Representative Carolyn Maloney (D-NY). - Source: Wikipedia
Washington is abuzz over whether House Speaker John A. Boehner is purging conservatives from positions of power within his caucus. In a closed-door meeting Monday, Republican leaders stripped plum committee assignments from four outspoken advocates of limited government.
President Obama is hitting the hustings in a campaign-style push for tax increases, and his first stop is Pennsylvania — a battleground state with the kinds of Republicans who he thinks could be amenable to being swayed by grass-roots pressure.
The annual Economic Freedom of the World report, including an index of country rankings, has just been released, and it should be a wake-up call.
Slumping job growth has alarmed some economists who fear the U.S. economy is in trouble. Ben Bernanke doesn't appear to be one of them.
Slumping job growth has alarmed some economists who fear the U.S. economy is in trouble.
There's nothing stimulating about the current state of the global economy. Job creation is on the decline in the United States, and the European Union is in the third year of a worsening debt crisis. Growth is nowhere to be found on either side of the Atlantic.
Federal Reserve Chairman Ben Bernanke says the economic recovery "is close to faltering" and the central bank is prepared to take further steps to support it.
During his latter years as chairman of the Federal Reserve Board, Alan Greenspan routinely warned about the long-term, adverse consequences that rising income inequality imposes on democratic societies. As incomes for lesser-skilled workers grow far more slowly than incomes of the highly skilled, "[t]he consequence, of course," is "an increased concentration of income," he told the Joint Economic Committee in June 2005. "As I've often said, this is not the type of thing which a democratic society — a capitalist democratic society — can really accept without addressing." Mr. Greenspan repeatedly stressed that the best antidote would be to increase education levels of the nation's workforce, a policy prescription that his successor as Fed chairman, Ben Bernanke, has enthusiastically endorsed.
During his latter years as chairman of the Federal Reserve Board, Alan Greenspan routinely warned about the long-term, adverse consequences that rising income inequality imposes on democratic societies. As incomes for lesser-skilled workers grow far more slowly than incomes of the highly skilled, "[t]he consequence, of course," is "an increased concentration of income," he told the Joint Economic Committee in June 2005. "As I've often said, this is not the type of thing which a democratic society — a capitalist democratic society — can really accept without addressing." Mr. Greenspan repeatedly stressed that the best antidote would be to increase education levels of the nation's workforce, a policy prescription that his successor as Fed chairman, Ben Bernanke, has enthusiastically endorsed.
