The business world is all abuzz with rumors and guesses about what the Federal Reserve may or may not do in the next couple of months. The Fed has given indications that it plans to raise interest rates in the near future, but after markets experienced significant turbulence, many investors are now betting that the Bank will hold off and keep interest rates low through the end of the year.
The Fed hasn’t allowed interest rates to rise since 2006. A weak economy and (reportedly) low inflation over the past decade have encouraged the Bank to continue to expand the money supply, keeping interest rates down to incentivize borrowing. This policy is based on the Keynesian assumption that the economy suffers from insufficient demand, and that using government to provoke more spending can turn things around. Read more here...
2. Oil, America's Inexhaustible Resource - by FreedomWorks Senior Economic Contributor Stephen Moore via The Washington Times
In August 1859 on the eve of the Civil War, Col. Edwin Laurentine Drake completed the first commercial oil well in the United States on Oil Creek just outside of Titusville, Pa. Over the next century and a half, oil and gas companies have extracted tens of billions of barrels of oil from the ground from California to New York and nearly everywhere in between.
During that time period, one thing has been constant: Doomsayers and declinists have predicted that we would soon drill the last barrel of oil. Famously in the 1920s, the U.S. Department of Interior projected less than a few decades worth of recoverable oil in the United States. Jimmy Carter declared in 1980 that by 2000 we’d be nearly out of oil — running on empty. Read more here...
3. FreedomWorks For America Attends Utah GOP Convention - by Casey Cheap via FreedomWorks For America
More than 50 FreedomWorks for America activists were at the Utah G.O.P. Convention August 15 in Sandy, Utah, where 3,000 delegates, activists and volunteers throughout the state attended Utah’s annual gathering. A special shout-out to Martha Dea and Candace Salima for volunteering all day and helping drive the recruitment other volunteers.
Our awesome volunteers helped us run the booth during the duration of the day. FreedomWorks for America came out with strong support for Senator Mike Lee, for repealing Common Core and for pushing against the expansion of Medicaid in Utah. We also gave out several hundred educational materials on justice reform. Read more here...
4. Alternative to The Federal Reserve System
5. Donald Trump Once Proposed the Largest Tax Hike in American History - by Jason Pye
In his FY 2016 budget, President Barack Obama proposed $1.44 trillion in new taxes over the next ten years. Though his tax proposal is not likely to be passed by Congress, it comes on top of hikes he already managed to enact, such as the fiscal cliff deal that increased taxes by $620 billion and the $1 trillion of taxes in ObamaCare. Conservative activists, rightly, slammed the tax hikes, which have contributed to a slow economic recovery in the aftermath of the Great Recession.
As much of a serial tax hiker as President Obama may be, he is probably envious of a little-known tax proposal put forward by Donald Trump in 1999, when he was flirting with a bid for the White House with the Reform Party. Trump shuttered his campaign not long after launching it, but not before he gave an interview to ABC News in November 1999 in which he outlined his tax plan. Read more here...
6. Is the Age of Obama Over? - by C.L. Bryant
Nearly eight years have passed since progressive liberals packaged
the grand deception called Barack Obama. The promise of hope and change
was intoxicating to a war-weary and economically stressed nation.
Obama was the perfect foil and a modern day Trojan Horse who would appear to be a gift and answer to a country with a history of racial strife and tension. The Greek Column Night of his first election victory would encourage even the hardened sceptic to have a moment of pause and marvel at just how far America had come on the political evolutionary scale. Read more here...
7. Judge Blocks the EPA's Damaging Water Rule - by Logan Albright
Obama was the perfect foil and a modern day Trojan Horse who would appear to be a gift and answer to a country with a history of racial strife and tension. The Greek Column Night of his first election victory would encourage even the hardened sceptic to have a moment of pause and marvel at just how far America had come on the political evolutionary scale. Read more here...
7. Judge Blocks the EPA's Damaging Water Rule - by Logan Albright
A federal judge has granted a preliminary injunction
against the EPA, stopping a controversial water regulation in 13
states. The states in question are suing to stop the new water rule,
which would violate private property rights and substantially harm
individuals and businesses alike. The injunction stops the EPA from
enforcing its rule until the results of the lawsuit are decided.
The Waters of the United States rule classifies a wide variety of ground water as subject to regulation under the Clean Water Act, and would extend the EPA’s authority to things like dry creek beds, ponds, and ditches on private property. This means that the EPA could prevent landowners from developing their own property if it deems a ditch to be environmentally important. Read more here...
The Waters of the United States rule classifies a wide variety of ground water as subject to regulation under the Clean Water Act, and would extend the EPA’s authority to things like dry creek beds, ponds, and ditches on private property. This means that the EPA could prevent landowners from developing their own property if it deems a ditch to be environmentally important. Read more here...
Press Secretary, FreedomWorks
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