CEI Daily - The Federal Budget, the Stimulus, and Job-Killing Regulations


Federal Budget


A new poll shows that Americans think 25% of the federal budget is spent on foreign aid. The number is actually under 1%.


Fellow in Regulatory Studies Ryan Young points out that this is just another example of people refusing to believe the truth about federal spending. 


"Entitlement spending is the single largest driver of current and future deficits. That’s where the battle is. Aid spending and earmarks are not threatening to bankrupt the country. Social Security and Medicare are. And those programs are extremely popular. No politician with an eye on 2012 would be willing to cut them.

    The government has made promises it can’t possibly keep. But most people refuse to believe that. So they don’t. As a guarding mechanism, they instead make grand assumptions about how much things like transfer payments to other governments and earmarks cost."






Unemployment has reached 9.8%.


Senior Counsel Hans Bader says that the stimulus was a waste of taxpayer funds.

"48 out of 50 states have lost jobs since passage of the $800 billion stimulus package.  The Obama administration falsely claimed that passing the stimulus package would keep unemployment under 8 percent, but now it’s close to 10 percent.  The stimulus also contained other provisions that wiped out jobs in America’s export sector, and it encouraged states to impose new job-killing burdens on business through changes to their statutory unemployment-compensation schemes."



Job-Killing Regulations


The Obama administration has proposed and supported regulations on oil rigs, mines, factories, and fisheries which have ultimately cost Americans their jobs.


Associate Fellow Ben Lieberman criticizes Obama for attacking industries during hard economic times.


"For all his talk of job creation, President Obama has targeted many occupations for extinction. Using unelected bureaucrats to implement a host of job-killing measures, his administration is generating piles of pink slips."