The Daily Caller

The Daily Caller

Congress Should Heed Anti-Cronysim Message Of Cantor’s Loss

John Berlau
Senior Fellow, CEI
Newly elected House Majority Leader Kevin McCarthy (R-CA) speaks with reporters as he walks to the Capitol after his election in Washington June 19, 2014. (REUTERS/Joshua Roberts)

Despite the stunning primary loss of Eric Cantor (R-Va.) last week that resulted in yesterday's election of a new House Majority Leader, Rep. Kevin McCarthy (R-Calif.), there are signs that it’s business as usual on Capitol Hill. This especially is the case when it comes to government favoritism to big business, even though this was a key part of David Brat’s anti-Beltway message that helped him best Cantor.

Phony Fannie-Freddie reform empowers the left

5:06 PM 03/25/2014

Ever since the phrase appeared in Shakespeare’s Romeo and Juliet, “a rose by any other name would smell as sweet,” and its variations, have become familiar expressions. A corollary is that garbage by any other name would stink just as badly, if not worse.

How Fiat took U.S. taxpayers for a ride

11:44 AM 01/09/2014

As 2014 opened, Detroit was bankrupt, but they were cheering the five-year-old U.S. auto bailout in Italy. That’s because after being the beneficiary of billions in U.S. taxpayer largesse, Fiat, the 115-year-old Italian auto company, is going to buy its final stake in Chrysler from that other big bailout recipient, the United Auto Workers (UAW).

The Volcker Rule is Obamacare for main street banks and their customers

3:05 PM 12/20/2013

You might think after the disastrous debut of HealthCare.gov and thousands of insurance cancellations, those who call themselves progressives might just have a little humility about grandiose government schemes with vague terms and objectives.

Stand with Rand in liberating credit-union lending

5:01 PM 05/24/2013

Any bill that is sponsored by Sens. Mark Udall (D-CO) and Rand Paul (R-KY), or any similarly odd ideological couple, more than meets the definition of bipartisan. But the Udall-Paul bill, S. 968, should be cheered not just because of its bipartisanship, but because it actually spreads freedom. Those concerned with government eroding options for entrepreneurs should cheer this legislation, which lifts regulatory barriers to an untapped source of capital for start-ups: America’s credit unions.

Overregulation, not phantom spending cuts, caused economy to shrink in fourth quarter

3:15 PM 02/05/2013

The schizophrenia of progressive economic thought was on full display last week in the wake of some bad economic news. On the one hand, progressives believe the U.S. economy is so fragile that even the mere threat of cuts in government spending would be disastrous. On the other hand, they believe this same economy is so resilient that billions upon billions of dollars in regulatory costs have no effect on growth at all.

‘Basel cliff’ looms for community banks

1:12 PM 11/21/2012

As if the “fiscal cliff” were not enough, banks of all sizes — and in turn the consumers and businesses that rely on their credit — also face the “Basel cliff.”

The great Obama auto dealer job shaft

3:06 PM 08/09/2012

Matthew Boyle’s groundbreaking reports this week in The Daily Caller provide further confirmation that in the Obama auto bailouts, all jobs were not created equal. The administration moved heaven and earth to save the jobs and generous benefits of General Motors and Chrysler workers who belonged to the United Auto Workers, ripping up the contracts of bondholders and secured creditors --- including middle-class retirees and teachers and police officers in state pension plans --- to give the UAW an enlarged stake in the new companies. “As a result,” notes Amy Payne of The Heritage Foundation, “even after the reorganization, GM still has higher labor costs ($56 an hour) than any of its foreign-based competitors.”

How over-regulation is shackling the next Facebook

5:19 PM 05/18/2012

Today, Facebook finally went public. Its initial public offering (IPO) is the capstone of its amazing ascent, which changed the way the world communicates.

SEC lawsuit against Fannie and Freddie ruins liberals’ holidays

3:33 PM 01/02/2012

By filing a civil fraud suit in mid-December against former executives of Fannie Mae and Freddie Mac, the Securities and Exchange Commission (SEC) took an action that has benefits far beyond bringing justice for investors. Among other things, it ruined the holidays of some of the nation’s most prominent liberal commentators by exposing the flaws of their narrative blaming the “unfettered free market” for the housing meltdown.

The Washington Post’s junky rant against Princess Catherine’s entrepreneurial family

10:43 AM 05/03/2011

On the eve of the royal wedding, The Wall Street Journal published an op-ed I wrote celebrating the entrepreneurship of Kate Middleton’s parents and pointing to their good fortune in business as an example of how economic life in Britain has improved— largely due to former Prime Minister Margaret Thatcher’s reforms — since Charles and Diana’s wedding in 1981. Similar points about increased British prosperity were made by the London think tank Centre for Policy Studies.

Senate’s 1099 repeal shows Obamacare’s edifice is crumbling

4:36 PM 02/04/2011

Although the U.S. Senate voted along partisan lines Wednesday to defeat repeal of the Patient Protection and Affordable Care Act — also known as Obamacare — it overwhelmingly on the same day voted to repeal one of the provisions that has proven most burdensome to entrepreneurs: the mandate for business to file IRS 1099 reports on any purchase over $600.

Durbin’s Walgreens amendment shifts costs to consumers

1:28 PM 05/13/2010

Give Dick Durbin some credit for his chutzpah. It’s not every lawmaker who, in proposing an amendment to a financial reform bill ostensibly aimed at targeting “fat cats,” would admit that the inspiration for his measure was a Fortune 500 CEO.

Ally (GMAC) Bank’s bailout deceptions

12:00 AM 05/07/2010

General Motors’ false advertising that it has paid back its bailout money “in full” has prompted harsh criticism. Yesterday, Competitive Enterprise Institute Attorneys Hans Bader and Sam Kazman filed a complaint asking the Federal Trade Commission to investigate these claims, noting “GM has only repaid a fraction of those funds—barely ten percent, and “moreover, GM apparently repaid its loan by using other federal funds [emphasis in original]”

The other individual mandate

12:00 AM 04/07/2010

In the continuing debate over the recently signed health care bill, the flash point is the individual mandate—the requirement that nearly all American adults purchase what the federal government determines is an adequate amount of personal health insurance. Even though this aspect of the bill had received widespread support in the business community and has been supported in the past by some Republicans, many Americans still see such a sweeping mandate as a bridge too far.

Obama can aid small businesses by providing regulatory relief

12:00 AM 02/02/2010

In news accounts about fights over new regulation, the story is almost always the same. The media portray the drama as that of well-intentioned experts wanting more regulation to protect the public good versus the business lobby ferociously opposed to the imposition of these new rules.