Happy birthday Keystone XL! Today marks the sixth anniversary of Keystone XL’s application to the State Department. Since then it has been languishing, waiting for the administration to determine its fate. 45 Senators got the celebration started early by sending a letter to the president urging action to approve the pipeline. Delays have caused more CO2 to be released and more than 40,000 jobs to sit on the sidelines.

A new survey of doctors finds that 46 percent grade Obamacare either a “D” or an “F.” The email survey by the Physicians Association went out to “virtually every physician in the United States with an email address on record with the American Medical Association.” With study after study finding flaws in both the law itself and its results, it cannot be a surprise that those who deal with the legislation on a daily basis give it a poor rating. 

Last night the Senate easily approved the spending measure to avoid a government shutdown on October 1^st. The measure now awaits the president's signature. Included in the bill is an extension of the Export-Import Bank through the middle of next year and provisions for arming and training Syrian rebels.

Eakinomics: The Boehner Agenda

Speaker of the House John Boehner laid out his agenda for restoring the U.S. economy to greatness. Personally, I have been advocating for a move away from a temporary, targeted “stimulus” style of policymaking toward deep structural reforms that will generate growth. My list is: (1) entitlement reform, (2) tax reform, (3) immigration reform, (4) education reform, and (5) regulation reform. It is hardly a surprise then that I whole-heartedly endorse the Boehner agenda: (1) fix our tax code, (2) solve our spending problem, (3) reform our legal system, (4) rein in our regulatory system, and (5) improve our education system.  

As an added bonus, in response to questions the Speaker argued that immigration reform would be beneficial to economic growth. Obviously, I concur. 

The real question is how to make these good policies good politics. Large, structural reforms are of necessity bipartisan in nature and require great White House leadership. There is no evidence to date that this administration has bipartisan instincts, legislative savvy or willingness to expend political capital to get these reforms done. Instead, it looks likely that the presidential race in 2016 will set the stage for action in 2017.

What We’re Reading

Regulators Weigh Delay for Separating Banks’ Swaps Units— U.S. banks may get another year to shift some swaps trading from their government-insured units as regulators respond to demands to give them more time, according to two people familiar with the talks. (Bloomberg)

Boehner stresses tax reform, school choice in GOP agenda— In an abbreviated replay of past Republican pre-election agendas, House Speaker John Boehner on Thursday laid out a plan for the GOP to boost economic growth with a combination of old-school conservative policies such as reforming taxes and cutting spending as well as newer priorities. (Washington Examiner)

 With New Health Law, Shopping Around Can Be Crucial— If you bought health insurance at an Affordable Care Act marketplace this year, it really pays to look around before renewing your coverage for next year. (NY Times, The Upshot)