The first punch to the economy from the defense sequester has landed and the second is in motion. If it’s not blocked, these reductions will contribute to 640,000 fewer jobs in the economy and gross domestic product (GDP) will be over 0.6 percent lower by the end of 2015.
At the heart of the ongoing immigration reform debate is the question of the anticipated costs and benefits of reform. Assessing the impact of various reform proposals on economic growth, wages, and federal and state budgets is critical to making an informed judgment as to whether enactment of reform is in the best interests of the country.
Two late additions to Congress’s response to the financial crisis have proved to be among the most complex and challenging for U.S. financial regulators to put into place. The degree of difficulty these two rules present, their unknown impact on financial markets and the economy, and the lack of international coordination surrounding them have led to continued regulatory delay with promulgating these two rules.
The Middle East remains a major foreign policy challenge for the United States, despite attempts to pivot away from it. A cooperative and strong Turkey could be an important partner in helping rebuild the Middle East.
Because of the structure of defense spending, our national security forces and defense industry have been able to continue operating under sequestration, but not without permanent damage. The full brunt of the cuts hasn’t hit yet, and if we go down the sequester path for too long, we won’t be able to reverse the devastating impacts.
This paper reviews the key actions and decisions that the newly created Consumer Financial Protection Bureau has undertaken since it was first created by law three years ago.