In 1996, when President Clinton signed the Personal Responsibility and Work Opportunity Reconciliation Act (better known as “welfare reform”), I was a twenty-three-year-old liberal. After reading a series of ominous predictions about how poor single mothers would fare in the wake of welfare reform, I could not forgive this act of cruelty.
The U.S. initial public offering market is back. What has not recovered, however, is the number of new and smaller companies going public. Of the 165 IPOs so far this year, less than 7 percent were valued below $50 million.
Tuesday’s decision by the U.S. Court of Appeals for the D.C. Circuit has the potential to eviscerate the Affordable Care Act by disallowing premium subsidies for those enrolled in the 36 federal health care exchanges.
As Congress mulls over a temporary patch for the Highway Trust Fund, President Obama is addressing infrastructure construction with his Build America Investment Initiative. The initiative is not the ordinary big government program.