Carly Fiorina Matches Bush’s Four Percent Growth Goal

Former Hewlett-Packard CEO Carly Fiorina (photo credit: Gage Skidmore)

Last month, Jeb Bush promised 4 percent economic growth during his official presidential candidacy announcement. On ABC’s “This Week” yesterday, Carly Fiorina also affirmed that “4 percent growth is a good goal,” especially in stark contrast to “an economy that sort of putt putts along between 1 and 2 percent”:

I think we need to understand what the true engine of economic growth and job creation is in this country. It has always been small businesses, new businesses, family owned businesses, community-based businesses that create two-thirds of the jobs and employ half the people. And we are now crushing those businesses. In fact, we are destroying more businesses in the United States now that are being created for the first time in our history.

Meanwhile, crony capitalism is alive and well, the big are bigger, the wealthy are getting wealthier, because with a very large powerful complicated government, which is what we have and which Democrats want more of, only the big, the powerful, the wealthy and the well connected can survive.

Fiorina also discussed her thoughts on income inequality:

Well, I think income inequality is a huge problem.

The truth is, Hillary Clinton’s ideas create more income inequality. Why? Because bigger government creates crony capitalism. When you have a 70,000 page tax code, you’ve got to be very wealthy, very powerful, very well connected to dig your way through that tax code. So, she made to cry [sic] income inequality, what I will continue to point out is the fact that every policy she is pursuing will make income inequality worse, not better, crony capitalism even worse, not better.

Continue Reading

Christie’s Track Record Terrible on Judicial Appointments

New Jersey Gov. Chris Christie (photo credit: Gage Skidmore)

Shane, last week you wrote on The Pulse about Chris Christie’s history of New Jersey Supreme Court nominations and why you “would hate to see what a ‘Christie-type’ Supreme Court looks like.” Looks like others think so too.

Over at National Review, Carrie Severino agrees and expanded on just how bad “Christie-type Justices” might be:

Since [being elected], Christie has had the opportunity to fill five seats on the court. But instead of nominating judges with a proven record of following the Constitution and traditional legal principles, and fighting for those nominees, he nominated liberals and cronies.

Turns out, Christie’s judicial appointees even tried their hand at the economy:

In 2013, two of his appointees joined a unanimous decision opening the floodgates to class actions by applying a very broad interpretation to a state consumer-protection law. Similarly, in 2014, three of his appointees joined a unanimous decision making New Jersey an even more favorable environment for class actions by holding that contracts have to expressly waive court rights even if they have a clear and express arbitration clause. It’s almost as if Christie’s nominees want more class-action litigation in New Jersey.

You can read the rest at National Review.

Noah Muscente works for American Principles in Action. Continue Reading

Gilder’s “New Information Theory of Money” Fixes the Meaning of Money

George Gilder’s new monograph, “The 21st Century Case for Gold: A New Information Theory of Money,” offers a revolutionary alternative to today’s “deeply flawed understanding of the nature of money.” Drawing attention to the relationship between money and information, Gilder redefines and contextualizes the role of money in the 21st century as an information carrier in an information economy. Money is a “measuring stick” of economic activity, and nothing does this job better than gold.

Information is key to enterprise and innovation. “Money,” Gilder says, “is the channel that carries the information to investors, workers, small businessmen, major corporations and entrepreneurs.” Tampering with money distorts the information conveyed to people and organizations. That carries unintended consequences.

One such outcome is the all-too-cozy relationship between government and banks. The Federal Reserve has lured banks away from innovation and into the world of “proprietary trading” — the get-rich-quick plans that define the “new Wall Street.” Constantly changing currency allows banks to “thrive by serving government rather than entrepreneurs.” This does wonders for the profits of large financial institutions but robs the productive sectors of the economy of financial capital. The “new Wall Street” does not produce learning and hurts the truly productive members of society.

Because floating money creates big problems for an information-based economy, Gilder proposes an old solution with a new twist: defining the value of the dollar as a fixed weight in gold. Gold has long been the ideal monetary element for a number of reasons like its low melting point, resistance to decay, and natural relative scarcity. Continue Reading

Scott Walker Responds to SCOTUS Ruling With Call for Amendment

In response to today’s Supreme Court ruling on same-sex marriage, Scott Walker denounced the decision and called for a new amendment to the Constitution that would explicitly allow states to decide on this issue for themselves. His statement, reported by Politico:

As a result of this decision, the only alternative left for the American people is to support an amendment to the U.S. Constitution to reaffirm the ability of the states to continue to define marriage.

He also tweeted this statement:

Noah Muscente works for American Principles in Action. Continue Reading

Rick Santorum Tweets Response to SCOTUS Marriage Ruling

This morning, Rick Santorum tweeted comments on the same-sex marriage Supreme Court decision. Here’s what he said:

About 15 minutes later, he also tweeted this:

Noah Muscente works for American Principles in Action. Continue Reading

Jindal: SCOTUS Decision Will “Pave the Way” for “Assault” on Religious Liberty

Louisiana Gov. Bobby Jindal (photo credit: Gage Skidmore)

Here is Gov. Bobby Jindal’s statement on the Supreme Court’s same-sex marriage ruling, courtesy of his campaign’s website:

The Supreme Court decision today conveniently and not surprisingly follows public opinion polls, and tramples on states’ rights that were once protected by the 10th Amendment of the Constitution. Marriage between a man and a woman was established by God, and no earthly court can alter that.

This decision will pave the way for an all out assault against the religious freedom rights of Christians who disagree with this decision. This ruling must not be used as pretext by Washington to erode our right to religious liberty.

The government should not force those who have sincerely held religious beliefs about marriage to participate in these ceremonies. That would be a clear violation of America’s long held commitment to religious liberty as protected in the First Amendment.

I will never stop fighting for religious liberty and I hope our leaders in D.C. join me.

Noah Muscente works for American Principles in Action. Continue Reading

Rubio on Supreme Court Marriage Ruling

Sen. Marco Rubio (R-FL) (photo credit: Gage Skidmore)

Here are some key quotes from Sen. Marco Rubio’s statement on today’s Supreme Court same-sex marriage ruling:

People who disagree with the traditional definition of marriage have the right to change their state laws. That is the right of our people, not the right of the unelected judges or justices of the Supreme Court. This decision short-circuits the political process that has been underway on the state level for years.

[…]

As we look ahead, it must be a priority of the next president to nominate judges and justices committed to applying the Constitution as written and originally understood.

[…]

The next president and all in public office must strive to protect the First Amendment rights of religious institutions and millions of Americans whose faiths hold a traditional view of marriage.

[…]

I firmly believe the question of same sex marriage is a question of the definition of an institution, not the dignity of a human being.

Noah Muscente works for American Principles in Action. Continue Reading

Bush Responds to SCOTUS Marriage Decision

Former Florida Gov. Jeb Bush (photo credit: Gage Skidmore)

This morning, Jeb Bush released a short statement on today’s Supreme Court ruling regarding same-sex marriage:

Guided by my faith, I believe in traditional marriage.  I believe the Supreme Court should have allowed the states to make this decision.  I also believe that we should love our neighbor and respect others, including those making lifetime commitments.  In a country as diverse as ours, good people who have opposing views should be able to live side by side.  It is now crucial that as a country we protect religious freedom and the right of conscience and also not discriminate.

Noah Muscente works for American Principles in Action. Continue Reading

Forbes to India and Emerging Economies: Stabilize Currency to Reach Full Potential

India rupee notes (photo via Wikimedia Commons, CC BY-SA 3.0)

Earlier this week, Steve Forbes published an article calling for developing economic powers to fix their currencies to the dollar or euro as a means to overcome obstacles to growth.

…all of these nations have overlooked a crucial requirement of economic greatness: a stable currency. Investors and entrepreneurs yearn for sound money, just as marketplaces function best when weights and measures are reliable and fixed.

“Ambitious countries must grasp the fact that economies with sound monetary policies always outperform those with chronically unstable money, ” he says, citing Britain as a pinnacle example of a booming economy historically facilitated by stable, gold-fixed currency.

What can today’s aspiring countries do to strive toward the success enjoyed by Britain and other leading economic powers?

They should start by formally fixing their currencies to either the dollar or the euro.

Turkey, for example, could formally tie its ominously weakening lira to the euro and thereby avoid another debilitating slide into a big inflation.

Sound currency would also strengthen countries suffering from international pressure:

A currency board would work wonders for beleaguered Ukraine. It’s no surprise, given Vladimir Putin’s aggression, that Ukraine’s currency, the hryvnia, has slid sharply, hurting the economy.

India would also set itself on a path to rival existing superpowers, including Britain:

In a few years India would be in a position to take the next step and adopt a gold standard. Within a generation of doing that it would surpass the economy of its former colonial master, Britain, as well as that of China.

Continue Reading