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191. Taiwan's Time

Author:
Claude Barfield
Publication Date:
05-2008
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
While the waning months of an administration is normally not a time for new foreign policy initiatives, President Bush should break precedent and begin formal negotiations with Taiwan for an FTA. Such a move would send a powerful signal to our allies in East Asia that America—despite great sympathy for the humanitarian efforts of the authoritarian Chinese government after the earthquake and thus far foregoing intervention against the military thugs in Burma—still stands by its determination to foster and support democratic regimes in the region.
Topic:
Diplomacy and Treaties and Agreements
Political Geography:
United States, China, Taiwan, Asia, and Burma

192. Fallout from a Bailout

Author:
Vincent R. Reinhart
Publication Date:
05-2008
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The Senate Banking Committee approved legislation on May 20 that would empower the Federal Housing Administration to provide relief to mortgage borrowers teetering on the brink of default. The House has already passed similar legislation. Only two months ago, mortgage aid was viewed as unlikely, but the odds now favor it becoming law. For this change of fortune, the legislation's chief sponsors, Senator Chris Dodd (D-Conn.) and Representative Barney Frank (D-Mass.), should thank one person in particular: Federal Reserve chairman Ben Bernanke.
Topic:
Economics and Government
Political Geography:
United States

193. It's Only Going to Get Worse

Author:
Lawrence B. Lindsey
Publication Date:
06-2008
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
America has not had a nationwide housing crash since the 1930s. At one point during that calamity, an estimated 60 percent of all mortgages were in technical default. The rather primitive housing credit system of the time, which relied on five-year balloon mortgages, certainly exacerbated the problem, but the bulk of the problem was related to the general economic downturn. There have been some regional housing crashes that were short and relatively mild, most notably in California, Texas, and New England in the late 1980s and early1990s. Most of those were caused by declines in key local industries: oil in Texas, aerospace and defense in Southern California and Massachusett.
Topic:
Economics and Markets
Political Geography:
United States, California, and England

194. Drugs Kennedy Needs

Author:
John E. Calfee and Paul H. Rubin
Publication Date:
06-2008
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Senator Kennedy is expected to recover from his brain tumor surgery without any serious side effects, thankfully. And while the spotlight is on his recovery, the news of his malignant brain tumor should also shed some light on drug approval policies.
Topic:
Government and Health
Political Geography:
United States

195. Two Decades Late

Author:
Frederick W. Kagan
Publication Date:
06-2008
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
More than five years after the war on terror began, the strains it has placed on the U.S. military are beginning to show. Some observers have noticed increasing signs of tension between the Pentagon and our commanders in the field. Inter service rivalries have started to kick up again as the U.S. Marines talk about getting back to their boats; the U.S. Navy talks about recapitalizing parts of its fleet; and the U.S. Air Force takes up the case of the F-22, the Joint Strike Fighter, and so on, with reference to more-or-less distant threat.
Topic:
Defense Policy and War
Political Geography:
United States

196. Hitting the Snooze Button on Our Medicare Fiscal Alarm Clock

Author:
Thomas P. Miller
Publication Date:
06-2008
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
The periodic ritual of announcing the mounting size of the fiscal problem posed by Medicare has never been, and will never be, enough to generate productive reform. Most of us got the memo that we are overcommitted and underfunded. Merely pointing to the size of the problem—in terms of Medicare's massive unfunded long-term liabilities, near-term budget imbalances, future rates of taxation that will be needed to sustain the program, or Medicare's preemption of national resources that crowds out funding for other important public pro-grams and private activities—has had little effect.
Topic:
Government and Health
Political Geography:
United States

197. Popping the Tuition Bubble

Author:
Frederick M. Hess and Kevin Carey
Publication Date:
06-2008
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
What if, instead of borrowing, students could arrange for investors to pay their college bills in exchange for a fixed percentage of their future income? In this article, Kevin Carey and AEI's Frederick M. Hess answer this provocative question. The time has come, they say, to think more creatively about financing college, especially because Congress seems more inclined to pour more money into loans and grants.
Topic:
Economics and Education

198. Resetting Earth's Thermostat

Author:
Samuel Thernstrom
Publication Date:
06-2008
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
In this article, Samuel Thernstrom, codirector of AEI's geoengineering project, notes that policymakers generally discuss two different ways to address global warming: cutting emissions and adaptation—that is, learning to live with a warmer planet. But there is another way to cool the planet, he says, "that could be fast, effective, and affordable." This strategy is geoengineering, and in this article, Thernstrom explains how it would work and why it is being ignored. In the race to respond to climate change, he says, it is time to invest in this alternative solution.
Topic:
Energy Policy, Environment, and Government

199. Obama Turns FDR Upside Down

Author:
Lawrence B. Lindsey
Publication Date:
06-2008
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Two AEI scholars have recently assessed the merits of Senator Barack Obama's approach to fixing the Social Security system's problems. In a March On the Issues, Andrew G. Biggs argued that the senator's plan would not fix the system's long-term problems and would impose significant costs on the economy as a whole. To read Biggs's article, visit www.aei.org/publication27704/. In June, Lawrence B. Lindsey wrote that requiring higher-end workers to pay additional taxes without getting additional benefits linked to their extra contributions would be “a big step toward turning Social Security from a contributory pension scheme into just another welfare program.” Below, Lindsey spells out the details.
Topic:
Economics, Political Economy, and Politics
Political Geography:
United States

200. The Consumer Burden of a Cap-and-Trade System with Freely Allocated Permits

Author:
Aparna Mathur, Kevin A. Hassett, and Gilbert E. Metcalf
Publication Date:
12-2008
Content Type:
Working Paper
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
In discussions over how best to implement mandatory restrictions on carbon, the most commonly discussed option is a cap-and-trade system. One critical economic question surrounding cap-and-trade is how to distribute the permits. The two main competing mechanisms are free allocations to polluters (usually based on past emissions levels, output levels, or carbon intensity) and the auction of permits.
Topic:
Climate Change, Economics, Environment, and Markets