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

Not Close to Full Employment – But It’s Progress

from IBD:

Full Employment? Even With 313,000 New Jobs, We’re Not There Yet

The February gain in jobs — 313,000 — was impressive on a number of levels. But it also confirms something we’ve been saying for some time: We aren’t anywhere near full employment.

 If you’re looking for good news in the latest jobs numbers, it’s hard to know where to start.

First, 313,000 was 50,000 more than expected, and is the biggest monthly gain in jobs in a year and a half.

In fact, since the recession ended in June 2009, there have only been six months in which job gains beat this number — which doesn’t say much for President Obama’s economic performance. read more

Dems Built in Excuse for Possible Election Loss

from IBD:

Dems Get Ready To Blame Russia If They Don’t Take The House In November

Democrats expect that fierce anti-Trump sentiment will sweep them into power in the House, if not the Senate, this November. If that fails to happen, they are already preparing their excuse: Russian meddling.

 Just as in 2016, Democrats — as well as various political pundits — are certain of victory.

“Democrats may have already won the House,” declared the news site Axios this week, citing four reasons the election was a lock. read more

Weapons Ban Didn’t Work Last Time

from IBD:

We Banned Assault Weapons Before … And It Didn’t Work

Maybe they are too young to know, or have faulty memories, but whatever the reason, all those pushing for a ban on “assault weapons” in the wake of the Florida school shooting ignore the fact that the last time the country imposed such a ban it failed to make a measurable difference.

  Gun control advocates were ecstatic when President Trump appeared to support a ban on “semi-automatic assault weapons.” The White House later issued a statement that he still opposes a ban.

Nevertheless, Democrats have already introduced two bills that would outlaw the sale of weapons like the AR-15, based mainly on various cosmetic features of the guns, and limit the size of magazines allowed. And the press has been playing up the issue with relentless fervor. read more

Dems May Regret not Voting for Tax Cuts

from IBD:

GOP Tax Cuts Are Turning Out To Be A Disaster … For Democrats

Not long ago, Democrats expected that the GOP tax cuts would be a political disaster for Republicans, just like ObamaCare was for Democrats in 2010. How’s that prediction working out?

Writing in the Atlantic in December, longtime political reporter Ron Brownstein argued that “President Trump and congressional Republicans have just taken the same leap of faith that Democrats did when they passed the Affordable Care Act.”

He went on to note that after Democrats passed ObamaCare in early 2010 — despite strong public opposition — the backlash from voters “helped propel Republicans to the biggest midterm gain in the House for either party since 1938 and gave them a majority in the chamber they still haven’t relinquished.” read more

Tax Cuts Equal More Revenue

Welcome to the wonderful world of REAL economic dynamism. Gee – how much will tax cuts cost us, asked the no-nothing democrats.

from IBD:

Go Figure: Tax Revenues Climbed $18 Billion In First Month Of GOP Tax Cuts

The Congressional Budget Office says that federal revenues in January added up to $362 billion. That’s an increase of $18 billion— or 5.2% — from the year before. As a result, the government ran a surplus of $51 billion that month, which is equal to the previous January.

Wait, weren’t the tax cuts supposed to bankrupt the country to benefit the rich? It almost looks like the tax cuts — which took effect in January — are paying for themselves. read more