|
TAG: Phase Out Unlimited Bank Deposit Guarantees
In 2008, in the midst of a financial crisis, federal regulators extended bank deposit guarantees beyond the statutory $250,000 limit to cover all “transaction,” or checking, deposits. Later codified by Congress, the Transaction Account Guarantee (TAG) program is due to expire on December 31, 2012. Congress is considering a two-year extension. It should not do so.
|
|
Despite the Headline, Job Market Struggles in November
The economy created 146,000 jobs in November, and the unemployment rate fell to 7.7 percent from 7.9 percent in October. The numbers in the November report were not substantially affected by Hurricane Sandy, according to the Bureau of Labor Statistics (BLS). While the headline numbers are positive, there are some major concerns inside the report.
|
|
Abolish the Costly Sugar Program to Lower Sugar Prices
Lobbyists for sugar growers already forced to rely on shady arguments to persuade Congress to keep giving handouts to their clients are facing a new P.R. problem: Twinkie production may be moving to Mexico. Hostess, the maker of Twinkies, has blamed union troubles for its bankruptcy, but other experts have pointed to U.S. government-inflated sugar prices as a possible factor in the company’s decline. Government interference in the sugar market hurts consumers and food manufacturers by driving up the price of sugar, reducing export opportunities by giving other countries an excuse to impose similar penalties on U.S.-made products, and weakening the U.S. economy. This Depression-era program, which was supposed to end in 1940, should be abolished.
|
|
More From Heritage
|
 | About The Heritage Foundation
Founded in 1973, The Heritage Foundation is the nation’s most broadly supported public policy organization. Heritage created the Center for Legal and Judicial Studies in 2001 to educate government officials, the media and the public about the Constitution, legal principles and how they affect public policy. | |
No comments:
Post a Comment