Gross Domestic Product (GDP)
When every responsible party in America is focused on economic growth and job creation, some lawyers are looking for ways to line their own pockets—at the expense of jobs, the economy, and even their own clients. In their endless pursuit of new lawsuit opportunities, their latest tactic is to get financiers to back litigation. These so-called lawsuit investors put up the money for a lawsuit in exchange for a cut of the settlement.
Nearly two weeks ago, something remarkable happened in Washington. Congress passed—overwhelmingly—free trade agreements with Colombia, Panama, and South Korea. Strong bipartisan majorities came together and voted for these long-delayed trade pacts. The president signed them. The U.S. Chamber of Commerce has pushed for them for five years. And, as a result of these agreements, hundreds of thousands of Americans will find jobs, and businesses will have access to new markets and customers.
What do you think of Occupy Wall Street and similar protests around the country?
The last time anyone tried to overhaul the federal regulatory process, Harry Truman was president, Frank Sinatra and Bette Davis were in their prime, and the microwave oven was a modern marvel.
Today’s regulatory system is no modern marvel. Instead, the complex, antiquated system has become a modern liability for our nation’s businesses. The regulatory burden and the uncertainty surrounding many new rules in the pipeline—to be heaped on top of the 175,000 regulations already on the books—are a major drag on business expansion, investment, and jobs.
The health care law is becoming a sad tale of promises broken and predictions fulfilled. The administration promised that the sweeping overhaul of the health care system would drive premiums down. It hasn’t, nor is it likely to—ever. The U.S. Chamber of Commerce, health policy experts, and business owners across the nation warned that the health reform law would have the opposite effect. And costs are, indeed, going up.
