Globe is Cooling – That’s Why We Call it Climate Change

from IBD:

Don’t Tell Anyone, But We Just Had Two Years Of Record-Breaking Global Cooling

NASA data show that global temperatures dropped sharply over the past two years. Not that you’d know it, since that wasn’t deemed news. Does that make NASA a global warming denier?

Writing in Real Clear Markets, Aaron Brown looked at the official NASA global temperature data and noticed something surprising. From February 2016 to February 2018, “global average temperatures dropped by 0.56 degrees Celsius.” That, he notes, is the biggest two-year drop in the past century. read more

Dems Give no Credit to Trump for Tax Cuts

from IBD:

Tax Revenues Jump 13% To Record High In April — When Will Dems Admit They Were Wrong About Trump’s Tax Cuts?

The federal government collected far more taxes this April than it did a year ago, despite the “budget busting” Trump tax cuts. So, we’ll ask again: Are the tax cuts paying for themselves?

According to the latest monthly report from the Congressional Budget Office, revenues in April totaled $515 billion — a 13% increase over last April and an all-time high for the month. read more

A Poll Says Americans Love Guaranteed Jobs

from IBD:

Nearly Half Of Americans Embrace ‘Guaranteed Jobs’ — An Idea Straight Out Of The Soviet Union

“Guaranteed jobs” is fast becoming the latest rallying cry for Democrats. And a new poll finds that 46% of Americans approve of it. Don’t read too much into that poll result.

Last week, we noted that a liberal policy group urged Democrats at a leadership meeting to adopt “guaranteed jobs” as a pillar of their economic plan. In short order, Bernie Sanders said he would soon unveil his plan to achieve that. Under it, anyone who “wants or needs” a job but couldn’t find one on their own would be guaranteed a government job paying $15 an hour and generous benefits.

Other prominent Democrats have latched on to this plan, including those with presidential ambitions like Sens. Kirsten Gillibrand and Cory Booker. read more

Public Sector Pensions are a Ticking Time Bomb

from IBD:

Bankrupt Public-Employee Pensions: The Next Big Financial Crisis?

As the media relentlessly focus on the federal government’s burgeoning debt, a new report says that states face their own ticking debt bomb: the exploding liabilities for lavish state and local public-employee pensions. Reform won’t be easy, but there is no choice.

A new report by the Pew Charitable Trusts shows that the problem is getting out of hand. In 2016, the most recent full year for which data are available, states were more than $1.4 trillion in the red. Pension debt has increased for 15 straight years, and shows no signs of abating.

Indeed, as Reason blogger Eric Boehm notes, “The really scary part is that pension debt keeps increasing despite the fact that taxpayers’ contributions to state-level pension plans have doubled as a share of state revenue in the past decade.” read more

If You Want the Money, You’ll Have to Work for It

Our government places conditions on all the money and aid they dole out – education, healthcare, State aid, everything. Why not this?

from IBD:

Why Does The Left Oppose Work Requirements For Welfare?

Attacks on President Trump’s push for work requirements to get welfare benefits fall into two categories: Either the work rules are pointless, or they are inhumane. Neither is correct.

For some on the left, the only measure of whether a poverty program is working is the number of people enrolled. They considered ObamaCare a great success, for example, precisely because it added millions of able-bodied adults onto this welfare program. They cheered the sharp rise in food stamp enrollment under President Obama as an economic stimulus. read more

Say Goodbye to the Obama Era

from IBD:

Trump Dismantles Another Obama ‘Achievement’ — Just One More To Go

This week, the Trump administration announced that it would revise President Obama’s draconian auto fuel economy mandates. That alone is big news. But it marks the near total reversal of Obama’s anti-growth domestic policies. That’s bigger news.

EPA head Scott Pruitt said Tuesday that the administration would rewrite Obama’s fuel economy standards starting with model year 2022. Obama’s plan was to mandate that all cars sold average 54.5 miles per gallon by 2025, up from 38.3 mpg this year.

As we have repeatedly explained in this space, Obama’s fuel economy mandate was little more than a thinly disguised electric car mandate, since hitting that level would have required a substantial increase in plug-in sales. As it stands, there are only a handful of powered cars that can go more than 54 miles on a gallon of gas.

Pruitt said that, instead of trying to force consumers into more expensive cars that environmentalists like, the focus at the EPA will be “on making cars that people actually buy and that are efficient.” read more

Government Should Not Regulate Social Media

from IBD:

Facebook Privacy Scandal: Why Regulation Is Not The Answer

As Facebook’s privacy crisis grows, so too are calls for the government to regulate it, including from Republicans, the tech industry and Mark Zuckerberg himself. What could be wrong with that?

Utah Republican Rep. Chris Stewart, for example, told CNN that “I actually think it probably is” time to regulate Facebook (FB) and other social media companies because “these companies gather our private information and they monetize it.”

Speaking at a China Development Forum in Beijing, Apple (APPL) Chairman Tim Cook said, when asked about Facebook, “I think that this certain situation is so dire and has become so large that probably some well-crafted regulation is necessary.”

Zuckerberg himself says that “I’m not sure we shouldn’t be regulated,” adding that “I actually think the question is more ‘What is the right regulation?’ rather than ‘Yes or no, should it be regulated?’ ” read more

Chicago Picking Winners & Losers

from IBD:

Uber And Lyft Are Hurting Mass Transit? There’s Nothing Wrong With That

Chicago recently started taxing users of increasingly popular ride-sharing services so it could spend more on its increasingly unpopular mass transit rail service. This sort of thinking only makes sense to government officials.

When app-based ride sharing services Uber and Lyft started to catch on, cities thought they posed a dire threat to their local monopoly taxi services and tried to thwart them. But while ride sharing did cut into taxi ridership, it is also having a big impact on mass transit. read more

No Restraint in Massive Republican Spending Bill

from IBD:

The Worst Part Of The GOP’s Massive $1.3 Trillion Spending Bill Is What’s Not In It

Some Republicans are complaining that they don’t know what’s in the massive $1.3 trillion “omnibus” spending bill they will be voting on this week. But it’s what’s not in the bill that’s the most troubling.

Republicans used to love to tout around copies of ObamaCare, pointing out how its massive size — around 2,300 pages — was a sign of runaway government.

The spending bill Congress will approve this week is nearly as big, weighing in at 2,232 pages. And, like ObamaCare, no one who votes on it will have read the bill before casting their ballots.

Then there’s the amount of money we’re talking about. That $1.3 trillion is what will be spent in just the next six months. And it’s represents just a fraction of what the government will spend, since it doesn’t include Social Security, Medicare, Medicaid, ObamaCare or welfare. read more

Lamb Campaigned as a Republican – When Will Dems Start Attacking Him

from IBD:

So, When Will Democrats Start Brutally Attacking Gun-Loving Conor Lamb?

While viciously attacking Republicans for opposing gun control, Democrats are celebrating the victory of gun-loving Conor Lamb in the Pennsylvania special election. What would those student gun control protestors say if they knew about that?

What has barely been mentioned over the past few weeks, however, is the fact that Lamb ran as a something of a poster boy for the NRA.

One of Lamb’s campaign ads, for example, showed him firing a scary looking assault weapon while the voice over touted his Marine background and said he “still loves to shoot.” read more