How the government is spending our money is on everyone’s mind - from Main Street to Wall Street. The Heritage Foundation is tracking these issues very closely.
House Democrats recently proposed a bill to tax the bonuses of AIG executives just one month after protecting those bonuses in the “stimulus” bill. While Heritage believes the government should take proper steps to protect taxpayer dollars given to these unstable financial institutions, we have serious concerns with this “clawback” bill and the dangerous Constitutional precedent it sets.
Even as we are still sorting out the previous bailout spending and its oversight, President Obama and Treasury Secretary Geithner have announced a new plan to spend another $1 trillion on “toxic” assets in the financial industry – a second massive Wall Street bailout. It seems that even despite the failure of the first bailout, the new Administration believes if debt got us into this mess, that more debt will get us out of it.
The Ever-Expanding Budget
After signing a spending bill for government operations that contained over 9,000 earmarks, President Obama is proposing an even more massive increase in spending by the federal government. His total spending proposal would cause the United States to borrow as much money in 18 months as President Bush did in eight years - if we can find people willing to buy our debt.
The Obama proposal would put in place a tax on our energy use, amounting to more than $3,000 per household according to a study by MIT. He would continue his effort to put in place a national health insurance plan. And, in its best years, relying on the rosiest economic scenarios, President Obama’s annual deficits would be double the average deficit of President Bush.
This week, both the House and Senate will bring a version of this budget up for a vote. Heritage will continue to follow this issue closely.
Stop Spending Our Future
In light of these spending decisions, Heritage and Americans for Prosperity are jointly sponsoring www.stopspendingourfuture.com. Please visit the website where you can enter a video contest and share why you want Washington to stop spending the future generation’s money.
North Koreans to Fire Missile
As North Korea threatens to test a long range missile which may be capable of delivering a nuclear warhead to our shores, Heritage is working to educate the public on the critical importance of continuing our missile defense program. That is why Heritage produced its first full length documentary called 33 Minutes. 33 Minutes is how long it would take a long range missile to reach our shores from anywhere in the world. If you are interested in hosting a screening for a group in your area, click here to sign up.
Conscience Protections for Doctors
Recently, the Obama administration announced it was accepting public comments on whether to eliminate regulations that protect the conscience of doctors and other health care workers not to take part in procedures that violate their beliefs. Visit www.ADoctorsRight.com to deliver a comment directly to the Department of Health and Human Services. It only takes a couple minutes.
Upcoming Heritage Events in Your Area
Please visit MyHeritage.org for information on when Heritage special events may be coming to a city near you.
The next event is April 14th for those in Southern California. Click here for more information on the event (Showdown on Tax Policy with Prosperity in the Balance).
Deadline for your Room Reservation at Resource Bank is April 1st.
If you plan to join Heritage at our 32nd Annual Resource Bank Meeting April 23-24, your last day to reserve a room under the group rate is April 1st. Click here to register and for hotel information.