Category Archives: Fiscal Freedom

The Federal Communications Commission recently proposed a regulation aimed at Restoring Internet Freedom, which is seen as a first step toward rolling back net neutrality rules enacted during the Obama administration. The rollback is welcome news. The last thing we want is to turn the Googles, Facebooks and Amazons of the world into dinosaurs like Con Edison or the old AT&T monopoly of the 20th century.

But there is an additional reason to resist net neutrality: Regulating the internet like the electric company has serious implications for future generations.

Related: How Amazon Could Dominate 3 Megatrends of the 21st Century

The Obama-era rules classified internet service providers as public utilities under Title II of the 1934 Communications Act, bringing an end to the hands-off approach that has guided U.S. regulation of the internet since the Clinton administration.

The internet is one of the rare examples of what economists call a general purpose technology (GPT). Such technologies bring sweeping, revolutionary change upon their arrival, and come along at most a few times a century. The wheel, writing and the waterwheel are examples of early GPTs. At the dawn of human civilization, hundreds and sometimes even thousands of years passed between the arrival of new breakthrough technologies like these. In more recent times, the discovery of GPTs has sped up. The industrial revolution brought the arrival of the steam engine, railways and the spread of electricity, for example.

Unlike most innovations, which tend to bring small improvements that are limited in both scope and impact, the arrival of GPTs can hit the economy with a dramatic shock. These shocks spill over across many market sectors, and their effects can be disruptive, with the power to move the entire economy. Such changes are accompanied by both benefits and risks, and it is because of the downside risks that progress which is what the arrival of GPTs represents is often heavily resisted.

Related: The Net Neutrality Debate Explained

The Luddites, for example, were 19th century British textile workers who protested against the new equipment that could replace them in factories. In modern times, we see similar resistance to new technologies from groups like taxi drivers, whose livelihoods are threatened by new companies like Uber. It would be uncaring to ignore the harm that new technologies can bring to peoples lives. But to focus only on the downside risks associated with new technologies is also to ignore all their upside benefits.

The internet also brings risks. It makes it easier for potential terrorists to find one another and plan attacks. On a less serious level, online shopping outlets like Amazon threaten traditional brick-and-mortar retail stores. Dealing with these problems takes time, and real people are harmed as we learn to cope with the initial disruptions. But the internet also brings nearly infinite benefits. It is used by 911 operators to handle emergency calls, and it facilitates everything from shopping to entertainment to work.

It may not be obvious, but future generations stand to benefit the most, by being born into a world where technology is as advanced as possible and where the initial challenges associated with technologies have been dealt with and resolved.

Related: How Trump Could Make It More Expensive for Your to Binge-Watch Netflix

The invention of the automobile put a lot of horse-drawn carriage drivers out of work. But the fact that this upheaval was dealt with in the early 20th century and not postponed until later means we were all born into a better world, one that offers a more comfortable life with more opportunities to travel and explore the many wonders of our globe. In this sense, the sooner new technologies arrive, the better a world we leave behind for our children and grandchildren.

As the FCC moves forward with its effort to turn back net neutrality regulations, we should all appreciate the importance and fragility of a technology like the internet. Applying too heavy a hand on the internet risks destroying the innovation that will leave a better world behind after were gone. Recognizing this danger requires humility and selflessness from regulators, as well as from the public. Regulating new disruptive technologies with an iron fist may bring us short-term comfort. But this tendency is actually selfish when viewed from a long-term perspective.

The FCC received millions of comments in support of its initial net neutrality rules, which demonstrates just how powerful the urge to control new technologies is. But we must resist the temptation to be the Luddites of the modern age. If we wont do it for ourselves, perhaps we will keep the internet free for the sake of those who will inhabit the earth long after we are gone.

James Broughel is a research fellow at the Mercatus Center at George Mason University and author of the new book Regulation and Economic Growth.

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Why Our Kids Will Thank Us for Rolling Back Net Neutrality | The ... - The Fiscal Times

Tomorrow is July Fourth, or, as Americans call it, Independence Day a national holiday to celebrate the 1776 Declaration of Independence that marked the end of the Revolutionary War and the birth of a new nation free from British Imperial domination. But now, 241 years later, its time to seek true freedom from another domination the shackles placed on our people by our own imperial and endless wars.

For those who have been paying attention to something besides the twisted reality TV show of the Trump presidency, there are some startling statistics to consider. First, our nation now has military troops conducting special operations in 137 different countries worldwide. Thats shocking considering most Americans probably couldnt even name 137 different countries, let alone fathom what might be of such grave national importance to require our armed forces there.

Second, which strikes a lot closer to home, the Republican Congressional majorities are now clamoring for a vast increase in military spending. The number thats been tossed out recently is a whopping $689 billion a year. Thats very nearly two billion dollars a day tossed into the military, which comes out to 2,000 million bucks drained from the Treasury (or borrowed from other countries like China) every day of the year. And thats not counting the spending on the black budgets of our global spy agencies.

While this same Congress is telling the American people we simply cannot afford health care for our neediest citizens but must give enormous tax breaks to our wealthiest citizens it is demanding that we spend almost a million and a half dollars a minute on the military. Considering the debt burden on a college graduate is now somewhere around $40,000, that minutes worth of military spending could have paid for 37 students college educations. Think of that every day wed rather drive the nation billions deeper in debt to pay for weapons of destruction than allow 53,000 students to get a college education without incurring the crippling burden of tens of thousands of dollars in loans.

Even worse, isnt it time to wonder just what were getting for this insane level of military spending? Weve been in Afghanistan for a stunning 16 years already and even our top military officials are saying were not winning there. Their answer? Send more troops and weapons, spend more money, and kill more people.

If that isnt bad enough and it is were now ramping up our next war in Syria to, once again, attempt to accomplish the wholly imperial goal of telling other nations what to do and how to live or suffer regime change if they dont do as we say, cut us some good deals for our multinational corporations, or willingly give up their natural resources for American exploitation.

How very far we have strayed from the intent of our founding fathers to establish a nation based on freedom from exactly the kind of imperialist colonial policies our politicians are now pursuing. Proof is the latest drivel from those same politicians who have now moved on from energy independence for the U.S. to, as Secretary of the Interior Ryan Zinke and his boss Donald Trump put it, our new goal of energy dominance.

Its no wonder Americas standing in the world has plummeted and a majority of nations now view us unfavorably. On this Independence Day, its time for we, the people to take back our government, to remember our incredible legacy of freedom, and cease the mental and fiscal slavery of endless wars.

George Ochenski's column appears each Monday on the Missoulian's Opinion page. He can be reached by email at oped@missoulian.com.

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Time for freedom from endless, imperialist wars - The Missoulian

An American warship on Sunday sailed close to a disputed island in the South China Sea occupied by Beijing, a US official said, a provocative move that could further strain relations between the superpowers.

The USS Stethem destroyer passed less than 12 nautical miles (22 kilometers) from tiny Triton Island in the Paracel Islands archipelago, which is also claimed by Taiwan and Vietnam, the official told AFP.

The operation, meant to demonstrate freedom of navigation in disputed waters, came just hours before a previously scheduled phone call between President Donald Trump and his Chinese counterpart Xi Jinping.

China did not immediately issue a response.

It was the second operation of its kind carried out by the United States since Trump took office and comes days after his administration took a number of steps that seemed sure to strain US-Chinese relations.

Trump on Thursday authorized a $1.3 billion arms sale to Taiwan, which China considers a rebel province. The same day, the US Treasury Department slapped sanctions on a Chinese bank accused of laundering North Korean cash.

Also Thursday, the State Department expressed concern about Beijing's respect for freedom in Hong Kong, on the 20th anniversary of Britain ceding the territory back to China.

And two days earlier, the State Department placed China on a list of the world's worst human trafficking offenders.

- A sharp cooling -

All those steps added up to a sharp reversal in tone from April, when Xi traveled to Trump's Mar-a-Lago resort in Florida for a first face-to-face meeting that Trump later said had helped build an "outstanding" relationship.

Further positive signs had followed, including an agreement in May on exporting US beef and natural gas to China.

Trump had praised China's efforts to bring pressure on North Korea over its nuclear and missile programs.

But when those efforts failed to produce results -- Pyongyang conducted new missile tests in violation of UN Security Council resolutions -- the American president made his frustration known.

Those efforts had "not worked out," Trump tweeted on June 20, adding, "At least I know China tried!"

Trump is scheduled to speak with Xi on Sunday at 8:45 pm (00h45 GMT Monday), 45 minutes after speaking with Japanese Prime Minister Shinzo Abe.

- A growing Chinese presence -

The latest US "freedom of navigation" exercise comes as Beijing continues muscular efforts to cement its claim to nearly all of the South China Sea, parts of which are also claimed by Taiwan and Southeast Asian nations including the Philippines, Brunei, Malaysia and Vietnam.

The United Nations says countries can establish the reach of their territorial waters up to a limit of 12 nautical miles.

China has rapidly built reefs in the area into artificial islands capable of hosting military planes.

Freedom of navigation operations are designed to challenge the sovereignty of countries with claims to disputed territory. Washington has challenged annexations of South China Sea islets while advocating for a diplomatic settlement.

On May 25, the USS Dewey guided-missile destroyer sailed less than 12 nautical miles from Mischief Reef -- part of the disputed Spratly Islands in the South China Sea, south of the Paracel Islands.

China has recently built up its facilities on Triton Island, including a new helicopter landing site, according to the Asia Maritime Transparency Initiative (AMTI), part of the Center for Strategic and International Studies think tank.

A large Chinese flag is displayed on the island, visible from aerial and satellite photos.

Beijing's continuing construction in the area will allow Chinese planes to operate over nearly the entire South China Sea, according to the AMTI.

The United States in fiscal year 2016 conducted freedom of navigation operations "challenging excessive maritime claims of 22 different coastal states, including claims of allies and partners," the Pentagon said.

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US warship sails close to South China Sea island occupied by Beijing - Daily Sabah

FrontPage Magazine

Freedom and Tyranny: The Meaning of Independence Day FrontPage Magazine Given our $20 trillion in debt and trillions more in unfunded liabilities, our children and grandchildren are facing a fiscal Armageddon, and when it comes freedom and equality may be its first victims. So today, amidst the barbecues and fireworks and ... and more »

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Freedom and Tyranny: The Meaning of Independence Day - FrontPage Magazine

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By Kristi Ranta

Education is the gateway to many things here in the United States.

The right to education is the best gift that one can acquire. Children depend on a foundation of education. In a way, for some its their lifeline. Its the place they feel safe and a place that gives them a chance in a world that they can feel so invisible in. Education represents the freedom and happiness America is known for.

Our rights for an education should not be threatened by budget cuts that our government would make. We need to be putting more money into the education system.

When President Trumps budget plan for the fiscal year of 2018 came out, it was astounding to see how much support would be cut from education. About $9.2 billion would be cut from the budget, according to a May 22 NPR report. These budget cuts would take way about $2.4 billion from teacher training and $1.2 billion from summer school and after-school programs.

Not only will it take away from those programs but also from the 20 or more other programs that support schools, according to a June 13 article in The Atlantic. Public schools and particularly the special education system would also see cuts to their programs. It would hit services including speech therapy, vision testing and more.

With all these budget cuts to education programs its hard to see a future of happiness and freedom that the system represents. The budget cuts will make it hard to develop a better education for the next generation. It limits the chance to grow and find happiness and freedom in the depths of what learning can provide.

By letting the government make these budget cuts we are letting it take control of our future. The public should not stand for this kind of outrageous act. Education is always and will be the basic right to any U.S. citizen.

Claudia Wallis is a journalist and is also a managing editor of Scientific Americans Mind section. In an article called The New Science of Happiness in Time magazine, she questions how much we are really in control of our own happiness. The happiness which we receive from education will be limited to such a degree if we continue to let the government take over our control of the education system. We must say no to these budget cuts.

To improve our education we must take a step in the right direction. That direction includes making a voice for yourself. There are a million and more ways you could let your voice be heard, such as: writing a letter to your representatives in Congress, let others know about whats happening, post on social media, etc.

There once was a man whose name was Timothy Treadwell. Treadwell was a man of nature. He spent thirteen summers with grizzly bears up in Alaska, protecting them from any harm that came their way.

He died doing something that he believed in and had a passion for. He is something we should all inspire to be.

To have passion and to fight for the rights in what we believe. Email your representatives in Congress. Shout to the world. Most importantly be brave in supporting something that is important to you.

Freedom and happiness are the first things that come to my mind when I hear about our education system.

There may be some bumps in the system itself, but I know it deserves all the attention it can get. Our education will forever be a safe place for the people of the United States.

Please pay attention to the happiness it brings all who need it. Experience the freedom that education can give you.

Kristi Ranta lives in Lake Stevens.

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Commentary: Trump's cuts to education a threat to freedom ... - The Daily Herald

The4th of Julyis far more than hotdogs, fireworks, and swimming. Its a time to reflect upon the sacrifices our forbearers made so that we would be free, that liberty would reign among all.

Foremost among those liberties was economic freedom, often summarized in the phrase: No taxation without representation.

Unfortunately, our economic freedom is very much in peril. Puerto Rico is essentially bankrupt. The Virgin Islands may soon follow. Illinoiss debt ratings have been slashed to near junk, and unpaid bills total over $14 billion. Our Federal debt has nearly doubled to $20 Trillion in the last nine years. No economist believes those trends are sustainable.

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New Jersey is in very difficult straits, too. Its public pensions are massively underfunded, and our politicians are loathe to come up with concrete plans to remedy.

Here in Summit we are very proud of our triple A credit rating. But, ultimately our footing is no better than the ship we stand in, and Summit and its taxpayers must ultimately backstop our States financial responsibilities. Indeed, the auditors of the Board of Education have required a notation in our financial statements of our contingent responsibility for the pension obligations of BOE employees.

Evaluate each candidate this election season with a simple question. Are they more apt to exercise fiscal restraint, look for the most efficient approach to each problem, and treat the taxpayers dime as if it were their own? Or, are they inclined to say tax my neighbor or the next generation, we are owed this new goodie, and appeal to the short term desires of their supporters?

I am proud of my financial record as Board of Education President, two time chair of the Operations Committee of the Board of Education, and three time member of the Board of School Estimate, as all budgets have come in below the mandated cap.Yet such fiscal discipline has had no adverse impact on the quality of our educational system; we were recently ranked quite highly in the national media for quality of our programs.

If elected as the At Large Candidate to Common Council, I would bring this fiscal experience and diligence to the issues that face our great City.

I wish you and your family a most enjoyable4th of July!

David Dietze is the Republican candidate for Summit Common Council, At-Large.

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Independence Day and Fiscal Responsibility - Summit NJ News ... - TAPinto.net

The Hindu

GST will be India's 'economic freedom', says Anil Ambani The Hindu The leadership advantage is backed by strong macro-economic stability, he said while adding that the economy has moved from low inflation to high growth, from fiscal rectitude to prudential current account management, and from one of the highest ... and more »

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GST will be India's 'economic freedom', says Anil Ambani - The Hindu

Sen. David Perdue, R-Ga., walks to the elevator for a meeting with President-elect Donald Trump at Trump Tower, Friday, Dec. 2, 2016, in New York. (AP Photo/Evan Vucci) | AP Photo

The GOP's long-stalled agenda is boiling over.

A group of 10 senators is sending a letter to Senate Majority Leader Mitch McConnell (R-Ky.) on Friday morning asking for the GOP leader to shorten the August recess or cancel it altogether if the party does not make significant headway on its priorities in July, according to a copy obtained by POLITICO. The letter comes right after Congress left Thursday and scattered across the country for a July 4 recess.

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Spearheaded by Sen. David Perdue of Georgia, the bloc of 10 senators said the five-week break should be on the table if Republicans don't make progress on repealing Obamacare, passing a budget, averting a government shutdown at the end of September, avoiding a debt default and get to their top priority: Reforming the tax code.

"Our current Senate calendar shows only 33 potential working days remaining before the end of the fiscal year. This does not appear to give us enough time to adequately address the issues that demand immediate attention. Therefore, we respectfully request that you consider truncating, if not completely foregoing, the scheduled August state work period, allowing us more time to complete our work." the senators wrote.

In addition, to Perdue, the letter is signed by Sens. Steve Daines of Montana, Joni Ernst of Iowa, John Kennedy of Louisiana, Mike Lee of Utah, James Lankford of Oklahoma, Mike Rounds of South Dakota, Luther Strange of Alabama, Thom Tillis of North Carolina and Dan Sullivan of Alaska. The group includes many of the most recently elected GOP senators, a group hungry for accomplishment.

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The House Freedom Caucus similarly asked House Speaker Paul Ryan to cancel the August break.

The asks to cancel the cherished vacation, when D.C. is at its most steamy and uncomfortable, shows how frustrated Republicans are becoming after their initial plans to quickly repeal and replace Obamacare have hit a rut and backed up the rest of their agenda. The GOP has still not found success in its health reform efforts, and a massive convergence of fiscal deadlines is awaiting the party in September that will further delay tax reform. The party appears extremely unlikely to pass the 12 annual spending bills and has no apparent plan to deal with the debt ceiling, which is expected to hit in late September or early October.

"The stakes are much higher this year. We simply cannot afford to lose any additional time in resolving these issues when tax reform is hanging in the balance. Robust change to our tax code is our single most important economic growth tool, and there is already growing anticipation for us to act," the senators said. "Failure to deliver could have devastating economic consequences."

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GOP senators call for McConnell to shorten August recess - Politico

Breaking news. (photo credit:JPOST STAFF)

WASHINGTON - Twenty moderate Republicans in the US House of Representatives warned on Friday that efforts to overhaul the federal tax code could be jeopardized by demands for including major spending cuts in a fiscal 2018 budget resolution.

In a June 30 letter to House Speaker Paul Ryan, lawmakers from the moderate Tuesday Group said that including hundreds of billions of dollars in cuts to mandatory programs could be "extremely problematic" for tax reform and asked for a budget delay until Senate Republicans finish their debate on healthcare legislation.

"We fear that if the House persists on pursuing this course, it could imperil tax reform," wrote the lawmakers, who were led by Representative Charlie Dent of Pennsylvania.

Republicans must pass a 2018 budget resolution to unlock a key legislative tool known as reconciliation, which the party needs to move a tax bill forward without support from Democrats.

But members of the conservative House Freedom Caucus say they will back a spending plan only if it cuts mandatory programs including Medicaid and food stamps, reductions that moderates oppose.

"House Republicans have made significant progress on budget decisions and these family discussions will continue amongst the conference," Ryan spokeswoman AshLee Strong said in a statement.

The Freedom Caucus and Tuesday Group each represents enough House Republicans to stymie legislation on its own.

Outside organizations including powerful business lobby groups are increasingly worried that the disagreement could lead to a political stand-off that prevents tax reform from occurring.

"No other reforms under consideration rise to the importance of pro-growth, comprehensive tax reform," the U.S. Chamber of Commerce, the Business Roundtable, the National Association of Manufacturers and the National Federation of Independent Business said in a joint letter to Republican and Democratic congressional leaders on Wednesday.

Republican moderates also worry that adding mandatory cuts to a reconciliation bill would create unpalatable legislation that reduces benefits for the poor while granting tax cuts to corporations and wealthy individuals, according to aides.

The House Budget Committee canceled plans to send a resolution for fiscal 2018 to the floor this week, after the chairmen of several other committees rejected efforts to wring $250 billion in mandatory spending from spending.

Freedom Caucus members want much larger cuts.

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Moderate US Republicans warn of trouble for tax reform - The Jerusalem Post

GOPlawmakers are urging party leadershipto nix the August recess, as Republicans struggle to make progress on their agenda despite maintaining control of both chambers.

Ten Republican senators sent a letter to Senate Majority Leader Mitch McConnellMitch McConnellGOP lawmakers urge party leaders to cancel August recess Healthcare protesters arrested after protest in GOP senator's office The party of Lincoln has no soul the GOP and its toxic healthcare bill MORE (R-Ky.) on Friday warning that the current congressional schedule doesn't give them enough time to work on legislation. They called for him to cancel, or at least curtail, the recess.

"We respectfully request that you consider truncating, if not completely foregoing, the scheduled August state work period, allowing us more time to complete our work," the senatorssaid in the letter spearheaded by Sen. David Perdue (R-Ga.).

The lawmakersoutlined five areas where they want to seeprogress: ObamaCare repeal, passing a budget, funding the government, raising the debt ceiling and tax reform.

The letter comesafter Senate Republicans delayed a vote on repealing ObamaCare until July.

The GOP agenda remains months behind schedule,despite Republicans having control of the White House and both chambers of Congress for the first time in a decade.

"We appreciate your leadership, both in advancing our agenda and by moving a package of bills this year to roll back regulations. ... Further, we have been encouraged by your work to date to help us stay on track. However, there is much to be done," they wrote.

Meanwhile, 12 members fromthe conservative House Freedom Caucus sent a similar letter on Friday to Speaker Paul RyanPaul RyanThreats against lawmakers spiked this year GOP lawmakers urge party leaders to cancel August recess Moderate House GOP express concern over budget process MORE (R-Wis.), urging him to cancel the August recess.

"During the 2016 elections, President Trump and Republican candidates running for the House and Senate promised the American people that with unified Republican government we could achieve many of the policy priorities that have been mere wishes for the last several years,"they said in the letterspearheaded by Rep. Andy Biggs(R-Ariz.).

Perdue and the House Freedom Caucus havebeen leading an effort to try to get leadership to cancel or scale back the six-week recess, but that has yet to gain traction with leadership.

Congressleft town on Thursday for the July Fourth recess. The Senateis expected to be in session for 15 days in July.

The senators added in their letter onFriday that they have a total of 33 potential working days left beforeSept. 30, the end of the fiscal year.

In addition to needing to fund the government, lawmakers also face fall deadlines for reauthorizing and funding the Federal Aviation Administration, the National Flood Insurance Program and the Children's Health Insurance Program.

The House members warned that constituents will be "disappointed" if they leave Washington instead of working through legislation.

"We have achieved some notable accomplishments you have rightly called singles and doubles, but working during August could facilitate hitting some home runs," the House members wrote.

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GOP lawmakers urge party leaders to cancel August recess - The Hill (blog)