Economic Stimulus for Small Business
President Obama gave a speech on the economy last week where he blamed the GOP for using legislative maneuvers to block an up or down vote on a small business jobs bill.
Today in the American Spectator, Director of CEI's Center for Investors and Entrepreneurs John Berlau argues that if Obama really wanted to help small business, he would instruct Senate Majority Leader Harry Reid to stop using "legislative maneuvers" to block "up or down" votes on amendments that would actually aid small businesses.
"These include amendments providing a reprieve from the looming tax hikes scheduled to hit many small business owners at the end of this year when the Bush tax cuts expire, and a bipartisan measure that would lift an arbitrary government cap on the amount of loans that credit unions can lend to businesses."
Mandating Risky Loans
The federal government is now expanding the affordable-housing mandates that helped spawn the mortgage crisis by goading mortgage giants Fannie Mae and Freddie Mac to buy up (and create a market for) risky mortgage loans. Edward Pinto explains in an article at Bloomberg News entitled “Subprime 2.0 Is Coming Soon to a Suburb Near You.”
On Openmarket.org, CEI's legal expert Hans Bader argues that affordable-housing mandates adopted under the Clinton administration led to the mortgage meltdown, by encouraging lenders to lend money to people with poor credit even without any substantial down payment.
"As economics professor Stan Liebowitz notes, in the 1990s, there was an "intentional loosening of underwriting standards—done in the name of ending discrimination, despite warnings that it could lead to wide-scale defaults.""
The Green Deception in Colorado
Last March, Colorado Governor Bill Ritter (D) signed HB 1001, a mandate requiring investor-owned utilities to generate 30 percent of their electricity sales from renewable energy sources by 2020.
"If all this seems too good to be true, that is because it is. Critics charge that renewable energy is expensive, and the facts seem to be on their side. According to the federal Energy Information Administration’s projection of future electricity costs, in 2016 wind power will be nearly 50 percent more expensive than coal and nearly 80 percent more expensive than natural gas. Thermal solar generation is projected to be 150 percent more expensive than coal, and 200 percent more expensive than gas."