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‘We’ll Get Back on Track’: White House Addresses Falling Small Business Optimism Amid Iran War
Small Business Administration Administrator Kelly Loeffler is optimistic that the economic sentiment for small businesses will return to pre-Iran war levels soon amid a downturn. “One data point does not a trend make. And the long-term trend under President [Donald] Trump has been for small business optimism to be above its 52-year average under Joe…Elizabeth Troutman Mitchell -
If You’re Woke and Go Broke, Should Taxpayers Pay Your Bills?
It’s feeling like 2007 all over again as Silicon Valley Bank and other financial institutions are going belly up and asking for bailouts from the federal government. President Joe Biden insists that he won’t be bailing out Silicon Valley Bank, but he certainly is. The bailouts are coming. They’ve already begun. The official reason for…Jarrett Stepman -
Woke but Broke: How US Colleges Are Pricing Students, Themselves Out of Business
Whether their leaders realize or admit it or not, American colleges and universities are on the verge of a crisis. And it’s a crisis, by and large, of their own making. The National Association of Scholars last month published a report by Neetu Arnold, “Priced Out: What College Costs America,” which finds, among other things,…Allen Mendenhall -
Leading by Example, Barstool Fund Steps Up to Save Small Businesses
Victor Child Care Center in Victor, New York, was on the brink. Ravaged by costs incurred as a result of COVID-19, Laurie Lavery, owner of the business, needed to cut back more and more services to stay afloat. Eventually, Lavery, 64, was forced to scrub the floors and bathrooms of the center by herself on…Douglas Blair -
Woke, Broke, or Worthy: How to Pick a College
For a good many years, parents who are trying to steer their sons and daughters to the right college have asked my advice. Lately, the number of such requests has increased, and so has the intensity of the parents’ concern. These parents understandably believe that because I lead a national organization that fights against the…Peter Wood -
How Congress Can Put a Stop to Cronyism and Corporate Welfare
This month will mark the end of an 80-year-old Washington institution that promotes cronyism and corporate welfare. On June 30, Congress appears prepared to let the Export-Import Bank’s charter expire—ending a government favor factory that began during the FDR administration. This new video from The Heritage Foundation showcases some of the bank’s most notorious deeds.Ben Howe -
U.S. Chamber Should Be Promoting Commerce, Not Cronyism
Here’s a half-serious question: How much do taxpayers have to pay off Boeing to make the Export-Import Bank finally and irrevocably go away? If the feds wrote a check to Boeing for $100 million, would they then let the Ex-Im Bank fade away after the current portfolio winds down? I ask this because the aerospace…Stephen Moore -
Here’s How We Combat Cultural Cronyism
What do you do if you’re pursuing unpopular interests that are contrary to the public good? How do you force change in a democratic republic when you can’t win everything you want through open debate? You rig the game. You ingratiate yourself to those who hold the levers of power and use your connections to…Mike Needham -
Program in Trade Bill Likely Hurts, Not Helps, Workers and Promotes Cronyism
This week, the Senate appears likely to move Trade Adjustment Assistance and Trade Promotion Authority as a single package. The ineffective and costly Trade Adjustment Assistance provides generous income support and training to workers displaced by international trade. Trade Promotion Authority, otherwise known as “fast track,” speeds up and limits the legislative approval process of…David B. Muhlhausen -
Lame Duck: A Slush Fund for Special Interests and Cronyism
“Experience has shown that this [lame-duck session] brings about a very undesirable legislative condition. . . . The result is a congested condition that brings about either no legislation or ill-considered legislation.” Much has changed since the Senate Judiciary Committee wrote those words in 1932, including the ratification of the 20th Amendment, which shortened the…Mike Needham -
This Program Epitomizes Government Cronyism
Even bottom dwellers are getting special treatment in D.C. Unlike the joke that makes some lawyers mad, in this case I’m talking about catfish. Buried within the 2008 farm bill was a new inspection program for catfish. Generally, the FDA inspects seafood, including catfish. Under this program though, the USDA, not the FDA, will inspect…Daren Bakst -
Company That ‘Saved’ HealthCare.gov Faces Questions of Cronyism
Jarred by the defect-riddled rollout of the Obamacare website, Obama administration officials signed up a technology company to rid HealthCare.gov of its bugs. Now, though, congressional Republicans are scrutinizing that outfit for a potential conflict of interest because its sister company, UnitedHealthcare, is among insurance companies selling plans to Americans through online marketplaces, or “exchanges.” “If…Melissa Quinn -
City Officials Accused of Cronyism in Fight Over Uber, Lyft
MEMPHIS—City officials, citing public safety concerns, have imposed cease-and-desist orders against private ride-share companies Uber and Lyft. Now, in the wake of those decisions, officials are facing questions of possible cronyism. Memphis officials have a strong incentive to help cab companies beat back any competition, said Justin Owen, president of the Nashville-based Beacon Center of…Chris Butler -
It’s the Cronyism, Stupid: Why the Ex-Im Fight Matters
Few Americans know much about the Export-Import Bank, and yet this obscure government agency is currently the focus of intense debate in the nation’s capital. So what gives? At the most practical level, lawmakers must decide whether to reauthorize Ex-Im’s charter, which expires on Sept. 30. The bank provides taxpayer-subsidized financing to foreign firms so…Diane Katz -
The Sport of Cronyism
Jurgen Klinsmann, the coach of the U.S. soccer team, caught flak for saying that it’s “not realistic” to believe that his men can win the World Cup. While a U.S. victory would indeed be a shock, the most unrealistic thing about the World Cup is the wider hopes that are pinned on it. In 1994,…Ted Bromund -
See How Cronyism Affects You—in Less Than 90 Seconds
What is “cronyism,” and why does it matter? Merriam-Webster defines it as “the unfair practice by a powerful person (such as a politician) of giving jobs and other favors to friends.” This matters because there are only a few in power, and chances are you’re not one of the favored “friends”—but it’s your money they’re…Amy Payne