Eric Florack on August 22nd, 2010

Bruce McQuain beats me to the punch this morning: In the middle of a recession, with joblessness hovering around the 10% mark, the Obama administration made a deliberate decision to impose a drilling moratorium knowing it would cost at least 23,000 jobs. Why? Senior Obama administration officials concluded the federal moratorium on deepwater oil drilling […]

Continue reading about Obama Knew Oil Moratorium Was a Job Killer And Didn’t Care

The news events of the last few months have certainly put the Obama Administration in a peculiar position.  The Gulf crisis notwithstanding, most of these events have been created by this president and his staff.

Team Obama went the the G20 Summit in Toronto this weekend to chide the other 19 nations to continue to stimulate their economy through Keynsian economic principles.  “Not so fast”, said the other countries.  “We have to make choices, and right now, we choose fiscal solvency and prudence”.  What a concept!

Passage of the Financial Institutions Reform package was always tenuous, at best, but the death of Senator Robert Byrd over the weekend makes passage more difficult.  One less Democratic vote means that it’s more likely that Republicans can filibuster this package, and this is a good thing.  Here’s why:  Any bill that increases regulation, drives up costs to the consumer, and squeezes financial services companies’ margins will negatively affect the economy.  The costs of increased regulation always get passed along to the consumer in some way, shape or form.  Limiting profits also limit tax revenues […]

Continue reading about The Case Against Financial Institutions Regulation (and Other Sundry Items)