From Heritage Media and Public Relations <[email protected]>
Subject Heritage Take: Interest Rates Rising to Between 5 Percent and 7 Percent Could Add $300 Billion to Next Federal Budget
Date December 16, 2022 12:15 PM
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Interest Rates Rising to Between 5 Percent and 7 Percent Could Add $300 Billion to Next Federal
Budget <[link removed]> - Over the past few months, the U.S. economy has experienced the highest inflation in 40 years. Monetary policy rules suggest that the Federal Reserve should set its policy interest rates between 7.25 percent and 10 percent in response. Incorporating more information than used in simple policy rules suggests that rates may top out between 5 percent and 7 percent. Rising interest expenses could increase the federal budget deficit by around $300 billion before Congress enacts any new legislation. The additional costs will require significant adjustments to the federal budget just to keep the deficit constant, much less reduce it to levels that would stabilize federal debt. Heritage Expert: Parker Sheppard <[link removed]>
 
Blaming consumers for inflation makes no sense—here’s the real culprit <[link removed]> - And those increases have been widespread, not limited to just grills and office furniture. Food prices have risen 16 percent under Biden. Energy prices have shot up 43 percent. And the dramatic rise in prices has also not been limited to consumer prices. Wholesale inflation, which measures the increase in prices paid by businesses, set 13 new record highs in a row on Biden’s watch. Heritage Expert: EJ Antoni <[link removed]>
North Korea’s provocations require strong allied response <[link removed]> - North Korea <[link removed]> has steadily improved both the quality and quantity of its nuclear and missile arsenals in recent years, unveiling nuclear-capable missile systems that pose an ever-greater risk to the United States and its allies. The increasing rate and diversity of missile launches show that Pyongyang <[link removed]> is making significant progress toward implementing a more capable and flexible nuclear strategy, including preemptive strikes with strategic, tactical and battlefield nuclear weapons. Heritage Expert: Bruce Klingner <[link removed]>
Oversight Project Director Applauds Texas Gov. Greg Abbott’s Call to Investigate NGOs’ Role in Border Crisis <[link removed]> – “We now have undeniable proof that NGOs are the
Biden administration’s partner in facilitating and perpetuating this historic border crisis. What’s most shameful is that these NGOs are using not just taxpayer dollars to complete the final link in the drug cartels’ human smuggling operation, but also funds donated by Americans across this country who have no idea their charitable giving is being used for this purpose. They are working hand-in-glove with the open-borders advocates in the Biden administration to resettle untold numbers of illegal aliens across this country every month, willingly advancing the left’s goal of reshaping the American electorate and advancing their political objectives.” Heritage Expert: Mike Howell <[link removed]>
Here's Why TikTok’s Days in America May Be Winding Down <[link removed]> - “This bill is essentially
building off the momentum that these state governors have had in the last few weeks we’ve seen. I believe we’re close to almost 10 governors now who have banned [TikTok] from government devices,” Denton says. “And I think the question for all these Americans is, well, if it’s unsafe for these government employees, right, we don’t want it on their phones. [So] why is it OK to be on our phones? And more specifically, why is it OK to be on our kids’ phones?” Denton asks. Heritage Expert: Jake Denton <[link removed]>
Free Economies Are Clean Without Subsidizing Renewables <[link removed]> - Countries that
generate income through the service economy, such as Switzerland with its banking sector, are more likely to be well-off and clean than a country that generates income through energy-intensive manufacturing. This is perhaps why countries with ”Mostly Free” economies have, on average, a higher environmental performance score (59.04) than the “Free” (58.56). A free country may choose more industry and fewer services, which could result in more emissions. However, additional GDP could result from the more energy-intensive industrial base. Heritage Expert: Diana Furchtgott-Roth <[link removed]>
Nixon’s Plan to Fight Poverty and Promote Marriage <[link removed]> - Today, conservatives crafting pro-family policy must pay attention to the incentives their policies create. As Robert Rector and colleagues argue in a recent report <[link removed]>, “policymakers should not respond to the Dobbs decision by seeking to restore aspects of the pre-reform welfare system that heavily subsidized single parenthood.” Instead, conservatives
should look to examples from previous generations, such as Nixon’s Family Assistance Plan, to craft a pro-marriage, pro-family vision for the future. Fathers, it so happens, are central to its success. Heritage Expert: Emma Waters <[link removed]>
VA Claims It Offers Religious Exemption for Abortion Mandate; Nurse Was Told ‘No Process Exists’ <[link removed]> - For both religious and medical reasons, Carter also says she “cannot work in a facility that performs abortions for reasons other than to save the life of the mother,” according to the lawsuit. Yet on Sept. 9, the VA published an interim final rule announcing that the agency “immediately” would begin providing abortions, abortion counseling, and other services. The rule did not mention religious exemptions nor provide a process for requesting exemptions, according to the lawsuit. Heritage Expert: Tyler O’Neil <[link removed]>

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