Fwd: Federal Debt Could Reach 100% of America?s GDP by 2025, Says Congressional Budget Office

Today's Headlines Thursday, July 1, 2010

Federal Debt Could Reach 100% of America's GDP by 2025, Says Congressional Budget Office (CNSNews.com) – On the same day President Barack Obama told a Wisconsin town hall gathering that his policies mean "the economy is headed in the right direction," the non-partisan Congressional Budget Office projected that federal debt could reach 87 percent of America's gross domestic production by 2020, and surpass 100 percent of GDP by 2025. Nevertheless, the president told the crowd in Racine, Wisc. – a town with the second highest unemployment in the state – that the economy is turning the corner. Neither Sessions Nor Cornyn Directly Say Kagan's View on Abortion Will Cause Them to Vote Against Her (CNSNews.com) – While Supreme Court nominee Elena Kagan's paper trail from her time as associate counsel in the Clinton White House indicates that she thinks abortion is a constitutional right, two top Republican senators on the Senate Judiciary Committee would not say whether this would compel them to vote against her as the next associate justice of the court. Obama's Pick to Administer $20 Billion Oil Spill Compensation Fund Will Insist Claimants are U.S. Citizens Who Pay Taxes (CNSNews.com) – The man who will administer the claims process for individuals and businesses seeking compensation from the $20 billion fund established by BP in the wake of its oil rig explosion said he will follow federal immigration and tax laws when deciding the eligibility of claimants. When CNSNews.com asked if the claims process would include requiring proof of U.S. citizenship, Kenneth Feinberg said "of course" it would. As Obama Calls Out Republicans on Campaign Trail, Republican Leader Blasts His 'Childish Partisanship' (CNSNews.com) - "The President should be focused on solving the problems of the American people -- stopping the leaking oil and cleaning up the Gulf, scrapping his job-killing agenda, repealing and replacing ObamaCare -- instead of my choice of metaphors," House Republican Leader John Boehner (R-Ohio) said on Wednesday. He was responding to President Obama's attack on Boehner and on Republicans in general at a town hall gathering in Racine, Wis., yesterday. Suspected Spy-Ring Paymaster Vanishes, As Russians Mull Conspiracies (CNSNews.com) – Despite some scoffing about a scenario straight out of a Cold War-era spy novel, some U.S. analysts caution that the Russian spy case reveals troubling issues that need to be tackled. "In Moscow, the U.S. is still an intelligence target, not a 'partner' the Obama administration believes it is," one analyst said. CNSNEWS.COM VIDEO Chairman Leahy: Supreme Court Nominee Kagan's Standard on Recusal 'Appropriate' (CNSNews.com) – Supreme Court nominee Elena Kagan testified that she would recuse herself from "any case" in which she served as "counsel of record" or for which she had "signed any kind of brief" as solicitor general in the Obama administration. Senate Judiciary Committee Chairman Patrick Leahy (D-Vt.) said that most senators found Kagan's view on this issue "appropriate." OTHER CNSNEWS.COM HEADLINES Millions of Swine Flu Vaccine Doses Have Expired and Will Be Burned Obama Argues for Immigration Overhaul on Thursday Petraeus Briefs NATO on Situation in Afghanistan Arizona to Release Immigration Training Plan for Police Officers NATO Arrests A District Taliban Chief in Afghanistan U.S. Envoy Concerned About Fraying Commercial Ties With Venezuela 1.3 Million Long-Term Unemployed Won't Have Jobless Benefits Extended House Passes Sweeping Bank Rules, But No Senate Action Yet Bipartisan Agreement That Elena Kagan 'Will Be Confirmed' With Russian Spy Case in the Headlines, Hillary Clinton Heads to Former Soviet Satellite States Governors Push for More Health Care Money Jimmy Buffett Gives a Free Concert on Alabama Coast Cash-Strapped Greeks Hit by Higher Sales Tax China Welcomes Visit by U.S. Defense Secretary – Some Day Donate Today! Please help CNSNews.com keep bringing you 'The Right News - Right Now!' Make a contribution to CNSNews.com today. It's fast, simple and secure. Help CNSNews.com and Donate Today!  NEWSPAPER ROUNDUP Disclose Act requirements might end 30-second campaign advertisements Lawsuit prompts NCAA to screen all athletes for sickle cell 'High-risk' pool medical insurance program set to begin L.A. council turns back last-minute plan to delay layoffs California begins fiscal year with no budget Anthem Blue Cross again seeks rate hikes for Californians Costs rise as U.S. Capitol crumbles; $200 million in repairs needed 1 in 4 headsets tourists use at Capitol Visitors' Center doesn't work Provincetown school system revising its condom proposal Polls indicating that Sen. Blanche Lincoln was losing may have been bogus Passport fees are going up July 13 Democrats won't decide fate of Bush-era tax cuts until after midterms New Seattle law will cook restaurant waste into compost Top al Qaeda figure is tied to failed New York City subway bombing plot EPA rejects air permits of 122 Texas plants, putting jobs at risk COMMENTARY Kagan on the 'Right' to Suction Someone's Brains By Terence P. Jeffrey Elena Kagan was not only to the left of President Bill Clinton on partial-birth abortion, but a fair reading of a memo she wrote in 1996 indicates she believed Clinton was a little squishy on the issue. The memo, recently released by the Clinton Presidential Library, demonstrates Kagan was intent on preserving an absolute right to kill "pre-viable" babies—even if it had to be done by sucking out a baby's brains. The Best Place to Be Poor By Walter E. Williams Imagine you are an unborn spirit whom God has condemned to a life of poverty but has permitted to choose the nation in which to live. I'm betting that most condemned, unborn spirits would choose the United States. Why? Because what historically has been defined as poverty no longer exists in the U.S. Let's look at it.

Fwd: Constitution Comes First in Virginia's Obamacare Challenge

Constitution Comes First in Virginia's Obamacare Challenge   RICHMOND, Va. – Visitors in Ken Cuccinelli's modest office overlooking the state Capitol can readily see the appreciation of Virginia's attorney general for the Founding Fathers. (Watch Cuccinelli's interview with Heritage here.) Paintings of George Washington, Thomas Jefferson and Patrick Henry hang on his wall. The Gadsden flag stands next to his desk. And when you ask Cuccinelli about Obamacare, he immediately shifts the conversation to the U.S. Constitution. "I don't think in my lifetime we've seen one statute that so erodes liberty than this health care bill," Cuccinelli said in a recent interview. The Scoop Obamacare Hits Small Businesses With Arrival of Tanning Tax   Welcome to the Real World: Grim Prospects for Young Adults under Obamacare   Price Transparency in Health Care: Will it Bend the Cost Curve?   Sen. Hatch Calls for Repeal of Obamacare Mandates   Revitalizing Federalism: The High Road Back to Health Care Independence "Certainly, we view our lawsuit as being not merely about health care. That's actually secondary to the real important aspect of the case, and that is to protect the Constitution as we essentially define the outer limits of federal power. If we lose, it's very much the end of federalism as we've known it for over 220 years." Virginia's lawsuit asserts that President Obama's health care law is unconstitutional on the basis of its individual mandate requiring Americans to buy insurance. The suit seeks to protect a Virginia statute, passed by the state legislature in March, which says Virginians cannot be compelled to buy health insurance or to pay a penalty if they refuse insurance. A federal court in Richmond will hear oral arguments in the case on Thursday, July 1. That makes Cuccinelli's office ground zero in Virginia's battle to undo Obamacare. Aside from the lawsuit, the state is also facing the fiscal burdens that come with Obamacare. Official estimates put the law's cost to the state at $1.5 billion through 2022. That's because about 80,000 low-income children and teens in Virginia will no longer be covered by the Children's Health Insurance Program, which supplies states with a generous federal match. Instead, they'll be enrolled in Medicaid -- and Virginia will have to foot more of the bill. And those 80,000 children won't be the only people added to the rolls: The state will eventually have to extend Medicaid coverage to some 400,000 additional people. While these fiscal challenges pose a threat to Virginia's budget, Cuccinelli is focused on the law's constitutionality. He believes the case will ultimately end up at the U.S. Supreme Court within two years. Another lawsuit from 20 attorneys general and the National Federation of Independent Business could make its way there, too. That case is currently in a federal district court in Florida. Virginia decided to pursue its own legal path independent of the other states because of the action of its legislature. Cuccinelli believes that, as more states enter the courtroom, the Supreme Court will recognize the importance of the issues at stake. "Never before has the federal government ordered individual Americans to buy something from other Americans," Cuccinelli said. "It is an extraordinary extension of power by the federal government and it is also an imposition on our state's law." The Obama administration views things differently. Health and Human Services Secretary Kathleen Sebelius filed a motion to have the case dismissed on the grounds that the state doesn't have standing to sue -- a move Cuccinelli predicted and had been preparing to counter. He filed a response June 7. Oral arguments are expected in July. Regardless of what happens in the district court, Cuccinelli said he's prepared for a lengthy legal fight. And because he just took office in January, he vowed to remain vigilant. "We are absolutely in it for the long haul, and that's important," he said, noting that he's also suing the Environmental Protection Agency for its claim that greenhouse gases jeopardize human health. "I'm going to be in this office to see these cases all the way through. And we are going to see them all the way through." As he sees it, this is something the Founding Fathers would want the states to do, provide a much-needed check in the system of checks and balances outlined by James Madison in the Federalist Papers. "We can protect our citizens, and be in a position to protect our laws, where we represent our citizens, even against the federal government. Virginia is a sovereign entity in this constitutional system," Cuccinelli said. "We created, along with 12 other states at the time, the federal government as it's currently structured. And we intend to remind them of that with this lawsuit." This article, by The Heritage Foundation's Rob Bluey, originally was posted on The Washington Examiner. Read more here. forward message   or visit our website   The White House has launched a taxpayer-funded Web site to "reality check" credible criticisms and arguments. Problem is the Obama administration's videos "debunking" each "myth" are low on facts. Click here to see our response.   Facebook Twitter YouTube The Heritage Foundation - 214 Massachusetts Ave NE, Washington, DC Call us at 202 546 4400

Fwd: Budget Bulletin: The Three Biggest Myths About Tax Cuts and the Budget Deficit

Budget Bulletin Your source for federal budget news and analysis Recent Updates Hoyer Makes, and Misses, His Mark CBO Reveals Magnitude of Reform Needed for Sustainable Fiscal Future Obama Sings "Spend On" While Europe Acts to Dampen a Crisis Featured Research The Three Biggest Myths About Tax Cuts and the Budget Deficit By Brian Riedl The surging budget deficit will likely dominate the national economic debate for years to come. Even after the recession ends, persistent trillion-dollar deficits are projected to double the national debt by the end of the decade. In the absence of reform, the financial markets will eventually respond by withdrawing capital, pushing up interest rates, and demanding immediate budget reforms—much like Greece is currently experiencing. Putting the federal budget on a sustainable path will require drastic reforms. Balancing the budget by 2020 would require either eliminating one-third of all spending, raising taxes by 50 percent, or a combination of the two. This enormous budget constraint will set the framework for all budgeting decisions—from taxes to health care, from education to Social Security. Finding a solution to growing deficits requires first correctly diagnosing their cause. Both recent and future budget deficits have been blamed largely on the 2001 and 2003 tax cuts, and to a lesser extent on the war on terrorism, but the data contradict these myths. In reality, spending is almost exclusively the problem: The 2001 and 2003 tax cuts were responsible for just 14 percent of the swing from the projected cumulative $5.6 trillion surplus for 2002–2011 to an actual $6.1 trillion deficit. The vast majority of the shift was due to higher spending and slower-than-projected economic growth. President Barack Obama's assertion that most future deficits will result from the 2001 and 2003 tax cuts, the wars in Afghanistan and Iraq, and the Medicare drug entitlement is based on faulty methodology, but is still wrong even using that methodology. Above-average spending, not below-average revenues, accounts for 92 percent of rising budget deficits by 2014 and 100 percent by 2017. Nearly all rising spending will occur in Social Security, Medicare, Medicaid, and net interest payments. Deficit reduction efforts should focus on the source of the problem: rising entitlement spending. Any attempt to split the difference between broad-based tax hikes and spending cuts should be rejected outright as a false solution. >> Click here to read Brian Riedl's full report Chart of the Week Get more charts with Heritage's Federal Revenue and Spending Book of Charts About The Heritage Foundation Founded in 1973, The Heritage Foundation is a research and educational institute - a think tank - whose mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense. The Heritage Foundation | 214 Massachusetts Ave NE, Washington, DC 20002 | 202.546.4400

Fwd: Morning Bell: The Limitless Power of the Obama-Kagan Congress

07/01/2010 The Limitless Power of the Obama-Kagan Congress This Sunday, our nation will celebrate Independence Day, which commemorates the Continental Congress' adoption of the Declaration of Independence on July 4, 1776. Thomas Jefferson's Declaration preamble reads: "We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness." The fact that we as a nation came together every year to celebrate this document might lead many Americans to believe that a Supreme Court Justice should take the Declaration of Independence into account when they are interpreting the Constitution. Elena Kagan is not one of those Americans. Under questioning from Sen. Tom Coburn (R-OK) yesterday, Kagan admitted: "To be honest with you, I don't have a view of what are natural rights independent of the Constitution." And Kagan's disturbing indifference to the existence of natural rights is just one of the many frightening revelations her confirmation hearing has produced. On Tuesday, Sen. Coburn pressed Kagan about the limits the Constitution places on Congress' power to control what Americans do: Coburn: If I wanted to sponsor a bill and it said Americans, you have to eat three vegetables and three fruits every day and I got it through Congress and that's now the law of the land, got to do it, does that violate the Commerce Clause? Kagan: Sounds like a dumb law Coburn: Yeah, but I got one that's real similar to it that I think is equally dumb. I'm not going to mention which it is. Kagan: But I think that the question of whether it's a dumb law is different from whether the question of whether it's constitutional and I think that courts would be wrong to strike down laws that they think are senseless just because they're senseless.

Fwd: Morning Bell: Obama's Oil Spill To-Do List

06/30/2010 Obama's Oil Spill To-Do List The oil spill crisis in the Gulf of Mexico gets worse by the day. Oil spews from the broken well, further polluting our water and shores. The clean-up efforts drag on with bureaucratic interference, making matters worse. And what is the Obama administration doing? It continues to push for unrelated responses that will have a disastrous effect on our economy, especially the economy of the Gulf states most affected. In fact, President Obama summoned a bipartisan group of senators to the White House on Tuesday to discuss his climate change legislation. When Tennessee Senator Lamar Alexander suggested that any such energy meeting should include a focus on the oil spill and BP, Obama responded: "that's just your talking point" and refused to discuss the crisis. Unfortunately, the American people are not hearing any of this. Day after day, blind allegiance to the president causes his supporters on the left to simply say the government is doing all that it can. The national media, prone to attention deficit disorder when a president they support is in the White House, have already moved on to a myriad of other subjects, offering only sporadic updates on the continuing crisis. When the president answered questions following the G20 conference, not one reporter asked him about the situation in the Gulf. Not one question. When attention is paid, it is focused on BP, which is only half the story — the other half being government incompetence or an ideological rigidity that prevents commonsense solutions.

Fwd: U.S. Can?t Continue As Engine That Drives the Global Economy, Obama and Geithner Say

Today's Headlines Tuesday, June 29, 2010

Advertisement - Vote Now: Elena Kagan and the Supreme Court - Should Supreme Court justices base decisions on sympathy, or personal preference rather than facts and laws? The Heritage Foundation, America's leading conservative think tank, wants to know what you think. Take the poll on the Kagan nomination today. U.S. Can't Continue As Engine That Drives the Global Economy, Obama and Geithner Say Washington (CNSNews.com) – Citing the country's trade deficit, President Barack Obama and Treasury Secretary Timothy Geithner each asserted last week that the United States cannot continue to lead the world economy. Kagan's Office Delays FOIA Response Because It Doesn't Know What the Meaning of 'The Administration's Health-Care Reform Plan' Is (CNSNews.com) - The office of Solicitor General Elena Kagan has delayed responding to a Freedom of Information Act (FOIA) request submitted by CNSNews.com that seeks records that might shed light on whether Kagan would need to recuse herself from certain cases if she is confirmed as a Supreme Court justice. Under 28 U.S.C. § 455, a former government employee who becomes a Supreme Court justice is required to recuse himself or herself from any case he or she expressed an opinion about while in government service. High Court's Gun Ruling Cites Intent of 14th Amendment (CNSNews.com) – In 1868, Republican Representative Thaddeus Stevens, who was directly involved in ratifying the Fourteenth Amendment to the U.S. Constitution, was not ambiguous about whether the right to keep and bear arms applied to the states. And in Monday's Supreme Court ruling, Associate Justice Samuel Alito cited the Fourteenth Amendment, legal precedent, the framers, and the intent of Congress in writing the majority opinion that extends the individual right to keep and bear arms to the states. Gun Rights Group Challenges N.C. Law Allowing Gun Bans During States of Emergency (CNSNews.com) - The Second Amendment Foundation, the same group that successfully challenged Chicago's handgun ban at the U.S. Supreme Court, has now filed a federal lawsuit challenging a North Carolina law that bars private citizens from carrying firearms during declared states of emergency. Conservative Groups Blast Supreme Court's Erosion of Religious Liberty (CNSNews.com) – Conservative activists say the U.S. Supreme Court put political correctness above religious liberty in allowing nondiscrimination policies at state-funded schools to trump both freedom of religious speech and freedom of association. The court said state schools may deny funding to religious groups that require their officers and voting members to agree with certain religious beliefs. U.S. Has Paid $1.44 Million for Study on 'Social Milieu' of Male Prostitutes in Ho Chi Minh City and Hanoi (CNSNews.com) - The National Institute on Drug Abuse, a component of the National Institutes of Health, has so far awarded $1.44 million in federal funds to a project that is examining the "social milieu" of male prostitutes in Hanoi and Ho Chi Minh City, Vietnam. "This study seeks to address an important public health question: what is the impact of male sex work on the growing HIV epidemics in Hanoi and Ho Chi Minh City, Vietnam?" says the NIH abstract. It notes that "HIV rates in Vietnam are rapidly increasing." Arming of Terrorists, Attempt to Kill Defector Cited as Reasons to Return North Korea to Terror List (CNSNews.com) – The Obama administration says the sinking of a South Korean warship does not justify returning North Korea to the U.S. list of terror-sponsoring states, but experts believe there are other good reasons for the administration to do so, including shipments of weapons allegedly destined for terrorists in the Middle East. State Department spokesman Philip Crowley said the process of reviewing North Korea's status was continuing and "never-ending." CNSNEWS.COM VIDEO Dr. Phil Backs Federal Funding to Combat Cyber Bullies (CNSNews.com) – Talk show host Dr. Phil McGraw, best known as "Dr. Phil," told CNSNews.com that the federal government must enact legislation to combat cyber bullying and fund "training protocols" for the people who work with students and children to educate them about Internet safety. OTHER CNSNEWS.COM HEADLINES Kagan Embraces Notion of Enduring Constitution; 'We Are All Originalists' Supreme Court Reaffirms 'Soft Money' Ban Consumer Confidence Tumbles in June Obama, Meeting Tuesday With Hispanic Lawmakers, Will Push for Immigration Reform Gen. Petraeus Vows Long-Term Commitment in Afghan War Robert Byrd to Lie in Repose in Senate Chamber Democrats Face New Obstacles in Passing Financial Regulations Despite Supreme Court Ruling, Chicago Mayor Says He'll Fight to Preserve City's Gun Ban Mexico Going Ahead with Election Despite Murder of Leading Candidate No Fall Election in West Virginia for Byrd's Senate Seat Petraeus Faces Questions From War-Weary Lawmakers Russian Spy Ring Ordered to Infiltrate U.S. Policy-Making Circles U.N. Vehicle Attacked in Afghan Capital U.S. Missile Strikes Target Militants in Pakistan Tuesday Donate Today! Please help CNSNews.com keep bringing you 'The Right News - Right Now!' Make a contribution to CNSNews.com today. It's fast, simple and secure. Help CNSNews.com and Donate Today!  NEWSPAPER ROUNDUP Departure of illegal immigrants affecting Arizona's businesses Supreme Court to review Arizona law penalizing those who hire illegals Pain doctors want prescription drug tracking to curb abuse Thank Congress for new checking account fees House GOP threatens 'no' on war bill if spending projects are added U.S., Afghan forces launch major offensive along Pakistan border Joint Chiefs Chairman Mullen: Taliban leader could be part of Afghan settlement Report: U.S. overestimated ability of Afghans Governors criticize Obama's border security plan President Obama's political director failed to disclose $40K payout from union Cellphone industry attacks San Francisco's ruling on radiation labeling COMMENTARY Obama Makes Himself the Prisoner of Gen. Petraeus By Patrick J. Buchanan President Obama is being hailed for toughness in his firing of Gen. McChrystal and brilliance in his replacing him as Afghan field commander with Gen. David Petraeus. Herewith, a dissent. Obama should have left McChrystal to succeed or fail with the McChrystal Plan. Had he succeeded, Obama also would have succeeded. Had McChrystal failed, Obama would have been free to relieve him and bring the troops home. But now, McChrystal is off the hook. More critically, Obama just made himself hostage to the savvy Gen. David Petraeus, who is said to dream of one day holding Obama's office. Welfare That Works By Ed Feulner For decades, liberals have promoted welfare as a "hand up, not a hand out." Now, with the cost of American welfare programs pushing toward $1 trillion per year, it's time to make that slogan a reality.

Fwd: White House Misses Deadline for Creating High-Risk Pools

June 29, 2010 White House Misses Deadline for Creating High-Risk Pools We've all heard it before — the age-old saying "Better late than never." Well, get ready to hear it again, this time from Health and Human Services Secretary Kathleen Sebelius, regarding the creation of high-risk pools under Obamacare. The pools were supposed to provide coverage for individuals who cannot get health insurance because of chronic illness. Obamacare slated the establishment of the pools to occur no later than 90 days after the legislation passed on March 23. Last Monday (June 21) marked day 90, and the pools are nowhere to be found. Covering the uninsured and those who need it most was advertised as one of the top priorities for the congressional majority's health care agenda, so it's hard to understand how Sebelius could have overlooked such an important deadline. After all, it's her job to implement Obamacare. It gets worse. Not only has Sebelius failed to meet the high-risk pool deadline, but earlier this week the Congressional Budget Office found that the pools will be underfunded by $5 billion to $10 billion. This blunder could result in 500,000 people with pre-existing conditions not receiving the coverage they were promised. According to the White House, as many as 12 million people are currently denied coverage because of pre-existing conditions. In its current form, the poorly designed, federal high-risk pool program will provide coverage to only a small fraction of these patients. Richard Foster, Medicare's chief actuary, claims the government will be able to do so for only one or two years before exhausting its allocated funding. At least 19 states, armed with this information, have declined joining these new high-risk pools. These mammoth mistakes have not gone unnoticed. Tuesday, Sen. Michael Enzi (R-WY) and 30 other Republicans sent a letter to Sebelius, reminding her of the missed deadline. The senators also had a few questions: When will the money for these high-risk pools be distributed to participating states? When will funding be provided for the 19 states that refused to participate in the federal program? And how many Americans will covered by these pools each year? Sebelius was asked to respond by June 30, but it's unlikely she will have any more luck in meeting this deadline than she did the previous one. More likely, she will follow the "better-late-than-never" mantra. It's becomes more clear that Americans would have been better off if Obamacare never passed. RECENT ENTRIES Bureaucracy in a Bind Obamacare Discourages Docs Share Today's Side Effects Facebook Myspace Digg Linkdin Twitter   Facebook Twitter YouTube Kindle Flickr Support our work by becoming a member with your gift of $25 or more. The Heritage Foundation 214 Massachusetts Avenue, NE Washington, DC 20002-4999 Call us at (202) 546-4400 Add newsletters@heritage.org to your address book to ensure that you receive emails from us.

Fwd: Independence Forever: Why America Celebrates the Fourth of July

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New Common Sense Applying First Principles to the Issues of Today At Heritage Who is the only president to share a birthday with America?  All rise, for the Kagan confirmation hearings have begun. What are the key questions for this Supreme Court nominee? Around the Country Guess which president delivered the one of the best defenses of the Declaration of Independence against his contemporary progressive critics? The Center for Vision and Values has a hint: More thoughtful than silent, maybe this president was not all about business. Several governors have proclaimed days of prayer for the distress in the Gulf of Mexico. Can you guess which delegate suggested a prayer at the Constitutional Convention? Quick Thoughts Why is Progress so unpopular these days? Check out Michael Barone's article about why Americans relate to Founders, not to Progressives.  Empathy vs. the Constitution. A new survey has surprising results about what matters most when selecting judges. What We're Reading: James Madison and the Spirit of Republican Self-Government by Colleen A. Sheehan.   Independence Forever: Why America Celebrates the Fourth of July In a few days, America will celebrate its 234th birthday. Independence Day is an opportunity to celebrate our great country and also to reflect upon its meaning. America was born on July 4, 1776, with the passage of the Declaration of Independence. The Declaration announced to the world that the American Colonies were free and independent states. But this alone does not make the document or America revolutionary. What is revolutionary about the Declaration of Independence is not that a particular group of Americans declared their independence under particular circumstances but that they did so by appealing to a universal standard of justice. What is revolutionary about America is that it is built upon a foundation of permanent principles not petty interests. The Declaration of Independence serves as a philosophical statement of America's first principles. Just read the second paragraph. It affirms that all men are equal, meaning that they share in a common human nature. By nature, men have a right to liberty that is inalienable, meaning it cannot be given up or taken away. And because individuals equally possess such inalienable rights, governments derive their just powers from the consent of those governed. The purpose of government is to secure these fundamental rights, and the people retain the right to alter or abolish a government that fails to do so. There is a finality to these principles. As one president remarked, "If all men are created equal, that is final. If they are endowed with inalienable rights, that is final. If governments derive their just powers from the consent of the governed, that is final. No advance, no progress can be made beyond these propositions." This Sunday, read the Declaration of Independence to your family, neighbors, and friends at your barbeque. Allow its memorable phrases to inspire you to strive for liberty and to vindicate the principles of self-government. Brace yourself, though, the Declaration of Independence is revolutionary, because its principles are true. Keep Reading about Why America Celebrates the Fourth of July                        Forward this message to a Friend!   Quote of the Week                            I have said that the Declaration of Independence is the ring-bolt to the chain of your nation's destiny; so, indeed, I regard it. The principles contained in that instrument are saving principles. Stand by those principles, be true to them on all occasions, in all places, against all foes, and at whatever cost. ~ Frederick Douglass "What to the Slave is the Fourth of July?" For more quotes, visit westillholdthesetruths.org About The Heritage Foundation Founded in 1973, The Heritage Foundation is a research and educational institute -- a think tank -- whose mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense. The Heritage Foundation | 214 Massachusetts Ave NE, Washington, DC 20002 | 202.546.4400

Fwd: Morning Bell: The Dodd-Frank Assault on Economic Recovery

06/29/2010 The Dodd-Frank Assault on Economic Recovery Following the release of the 2,000-page Dodd-Frank financial regulation bill last Friday, fixed-income portfolio manager Christine McConnell told Businessweek: "Clarity is good. [Once financial institutions] understand the rules of the road they'll be able to accommodate their business models." There is only one problem: passage of the Dodd-Frank bill doesn't provide any clarity. In fact, it does the exact opposite. The New York Times explains: "The bill, completed early Friday and expected to come up for a final vote this week, is basically a 2,000-page missive to federal agencies, instructing regulators to address subjects ranging from derivatives trading to document retention. But it is notably short on specifics, giving regulators significant power to determine its impact." In other words, this law is going to be continually rewritten by federal bureaucrats for years to come. And the continued uncertainty it will create is just the beginning of its faults: Permanent Bailout Authority: The Dodd-Frank bill creates an "orderly liquidation" process by which regulators are empowered to seize financial institutions that they believe are in danger of failing and liquidate them. While the lack of a broadly accepted process for closing down large financial institutions helped lead to the massive bailouts of 2008 and 2009, this liquidation process is problematic. Federal regulators are granted broad powers to seize private firms they feel are in danger of default, and these powers are subject to insufficient judicial review. Such governmental discretion to seize private property is constitutionally troubling.