On Monday, January 13, the Supreme Court will hear oral argument in an important separation-of-powers case concerning the president’s recess appointments power. Under the Constitution the president may “fill up all Vacancies that may happen during the Recess of the Senate” without going through the normal requirements of obtaining the “advice and consent” of the Senate. On January 4, 2012, when the Senate was arguably not in recess, President Obama appointed three members to fill vacant seats on the National Labor Relations Board. Noel Canning, a business adversely affected by a subsequent NLRB decision, then challenged the constitutionality of the appointments in the D.C. Circuit. The three-judge panel found that the president had exceeded his authority, as have two other appellate courts since then in separate suits. Please join us for what should be a spirited debate about the meaning and history of the recess appointments power.
Featuring Dan Ikenson, Director, Herbert A. Stiefel Center for Trade Policy Studies, Cato Institute; Simon Lester, Policy Analyst, Herbert A. Stiefel Center for Trade Policy Studies, Cato Institute; Daniel Pearson, Senior Fellow, Herbert A. Stiefel Center for Trade Policy Studies, Cato Institute; and Bill Watson, Policy Analyst, Herbert A. Stiefel Center for Trade Policy Studies, Cato Institute.
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In this issue of the Cato Journal, economists Geoffrey Black, D. Allen Dalton, Samia Islam, and Aaron Batteen offer one prominent example of allowing the market to work. Also in this issue, economists Jason E. Taylor and Jerry L. Taylor reexamine the relationship between marginal tax rates and U.S. growth, and Robert Krol looks at bias in CBO and OMB economic forecasts.
The 2008-2009 financial crisis and Great Recession have vastly increased the power and scope of the Federal Reserve, and radically changed the financial landscape. This new ebook examines those changes and considers how the links between money, markets, and government may evolve in the future.