First Rhode Island Regiment Congressional Gold Medal Act
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Sen. Whitehouse, Sheldon [D-RI]
ID: W000802
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Bill Summary
Another meaningless gesture from the self-aggrandizing, historically-challenged geniuses in Congress. The First Rhode Island Regiment Congressional Gold Medal Act (S 567) is a quintessential example of legislative theater – all pomp and circumstance, with zero actual substance.
**Main Purpose & Objectives:** The bill's primary objective is to award a Congressional Gold Medal to the First Rhode Island Regiment for their service during the Revolutionary War. Because, you know, it's not like we have more pressing issues to address in this country. The real purpose, of course, is to give politicians an opportunity to grandstand and pretend they care about history.
**Key Provisions & Changes to Existing Law:** The bill authorizes the awarding of a single gold medal to the First Rhode Island Regiment, which will be displayed at the Rhode Island State Library. Because one medal is clearly sufficient to honor the sacrifices of hundreds of soldiers. The Secretary of the Treasury will design and strike the medal, because who needs actual historians or experts when you have bureaucrats? Oh, and they'll also sell bronze duplicates to cover costs, because nothing says "honor" like a cash grab.
**Affected Parties & Stakeholders:** The affected parties include:
* The First Rhode Island Regiment (or rather, their descendants and historical reenactors) * The Rhode Island State Library * Politicians looking for a photo op * Lobbyists who managed to sneak this bill onto the agenda
**Potential Impact & Implications:**
* Zero actual impact on the lives of Americans or the country's well-being * A minor boost to local tourism in Rhode Island, perhaps * A further erosion of trust in government, as people realize that Congress is more interested in symbolic gestures than actual problem-solving * The perpetuation of historical revisionism and superficial understanding of American history
In conclusion, this bill is a perfect example of the disease afflicting our legislative system: a terminal case of self-aggrandizement, coupled with a severe lack of intellectual curiosity or genuine concern for the welfare of citizens. It's a gold medal in meaningless gestures, awarded to politicians who would rather posture than actually govern.
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Sen. Whitehouse, Sheldon [D-RI]
Congress 119 • 2024 Election Cycle
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Project 2025 Policy Matches
This bill shows semantic similarity to the following sections of the Project 2025 policy document. Higher similarity scores indicate stronger thematic connections.
Introduction
— 110 — Mandate for Leadership: The Conservative Promise there are no general or field-grade officers who served as planners or commanders against a near-peer adversary in combat. 4. Examine the logic of emerging Army concepts about employing massed long-range fires and effects without considering how to gain advantage by closing with and dominating an adversary on land. 5. Recognize that high-intensity land combat operations cannot be sustained through short-term individual or unit rotations in the style of the sustained low-intensity campaigns conducted over the past 20 years. 6. Transform how the National Guard is employed during extended operations short of declared war to preclude back-to-back federal and state deployments of National Guard soldiers in order to stabilize and preserve military volunteerism in our communities. 7. Revamp Army school curricula to concentrate on preparation for large- scale land operations that focus on defeating a peer threat. 8. Address the underlying causal issues driving increasing Army suicide rates, which have surpassed pre–World War II rates and are now eclipsing the rate among civilians. U.S. NAVY As noted at the beginning of this chapter, the U.S. Constitution gives Congress the power to “provide and maintain a Navy.” Inherent in this phrase is a recognition that there is a vital national interest in the maritime environment and that this national interest requires sustained planning and investment. This is as true today as it was almost 250 years ago and will remain true into the future. The U.S. Navy (USN) exists for two primary reasons: to project prompt, sus- tained, and effective combat power globally, both at sea and ashore, and to deter aggression by potential adversaries by maintaining a forward operating presence in conjunction with allies and partners. Today, the People’s Republic of China Peo- ple’s Liberation Army Navy (PLAN) can challenge the USN’s ability to accomplish its mission in the Pacific and Indian Oceans. In the production, employment, and control of maritime forces, the USN must consider the scope and rate of technological change and, where appropriate, adapt its processes and workforce development. In balancing the necessary long-term industrial model of naval platforms against emerging short-term opportunities, the USN must take account of advances that may present vulnerabilities and risks as well as what is assured and secure.
Introduction
— 110 — Mandate for Leadership: The Conservative Promise there are no general or field-grade officers who served as planners or commanders against a near-peer adversary in combat. 4. Examine the logic of emerging Army concepts about employing massed long-range fires and effects without considering how to gain advantage by closing with and dominating an adversary on land. 5. Recognize that high-intensity land combat operations cannot be sustained through short-term individual or unit rotations in the style of the sustained low-intensity campaigns conducted over the past 20 years. 6. Transform how the National Guard is employed during extended operations short of declared war to preclude back-to-back federal and state deployments of National Guard soldiers in order to stabilize and preserve military volunteerism in our communities. 7. Revamp Army school curricula to concentrate on preparation for large- scale land operations that focus on defeating a peer threat. 8. Address the underlying causal issues driving increasing Army suicide rates, which have surpassed pre–World War II rates and are now eclipsing the rate among civilians. U.S. NAVY As noted at the beginning of this chapter, the U.S. Constitution gives Congress the power to “provide and maintain a Navy.” Inherent in this phrase is a recognition that there is a vital national interest in the maritime environment and that this national interest requires sustained planning and investment. This is as true today as it was almost 250 years ago and will remain true into the future. The U.S. Navy (USN) exists for two primary reasons: to project prompt, sus- tained, and effective combat power globally, both at sea and ashore, and to deter aggression by potential adversaries by maintaining a forward operating presence in conjunction with allies and partners. Today, the People’s Republic of China Peo- ple’s Liberation Army Navy (PLAN) can challenge the USN’s ability to accomplish its mission in the Pacific and Indian Oceans. In the production, employment, and control of maritime forces, the USN must consider the scope and rate of technological change and, where appropriate, adapt its processes and workforce development. In balancing the necessary long-term industrial model of naval platforms against emerging short-term opportunities, the USN must take account of advances that may present vulnerabilities and risks as well as what is assured and secure. — 111 — Department of Defense Needed Reforms l Invest in and expand force structure. The USN’s organizing principle remains platform-centered: vessels manned by sailors. The manned surface and subsurface forces act in concert with land-based, air-based, and space- based forces to project power outside sovereign territory, principally by operating in international waters. Investments must be closely coordinated with these other elements of military power. 1. Build a fleet of more than 355 ships.26 2. Develop and field unmanned systems to augment the manned forces. 3. Require that range and lethality be the key factors in all procurement and sustainment decisions for ships, aircraft, and munitions. l Reestablish the General Board. In contrast with the Navy General Board that served ship development so well during the interwar period, the current joint process27 for defining the requirements for major defense acquisitions is not well-suited to long-term planning of the sort that is needed for USN fleet architecture and shipbuilding. The interwar General Board should serve as a model, empowered with final decision authority over all requirements documents concerning ships and the major defense systems fielded on ships. The individual board members would ensure a broad base of knowledge as well as independent thinking.28 l Establish a Rapid Capabilities Office. The USN must transition technology into warfighting capability more rapidly. It must foster a culture of innovation that includes connecting theoretical and intangible ideas with real production environments that produce tangible and practical outcomes and adapting proven processes to advance material solutions. 1. Harness innovation and willingness to tolerate risk so that “good enough” systems can be fielded rapidly. 2. Use the Space Development Agency as a model. 3. Establish an oversight Board of Directors made up of the service chief, service secretary, and Under Secretary of Defense for Acquisition and Sustainment.
Introduction
— 738 — Mandate for Leadership: The Conservative Promise vaults. This creates a powerful self-policing mechanism: If the federal govern- ment creates dollars too quickly, more people will doubt the peg and turn in their gold to banks, which then will turn in their gold and drain the government’s gold. This forces governments to rein in spending and inflation lest their gold reserves become depleted. One concern raised against commodity backing is that there is not enough gold in the federal government for all the dollars in existence. This is solved by making sure that the initial peg on gold is correct. Also, in reality, a very small number of users trade for gold as long as they believe the government will stick to the price peg. The mere fact that people could exchange dollars for gold is what acts as the enforcer. After all, if one is confident that a dollar will still be worth 1/2000 ounce of gold in a year, it is much easier to walk about with paper dollars and use credit cards than it is to mail tiny $80 coins. People would redeem en masse only if they feared the government would not be able control itself, for which the only solution is for the government to control itself. Beyond full backing, alternate paths to gold backing might involve gold-con- vertible Treasury instruments29 or allowing a parallel gold standard to operate temporarily alongside the current fiat dollar.30 These could ease adoption while minimizing disruption, but they should be temporary so that we can quickly enjoy the benefits of gold’s ability to police government spending. In addition, Congress could simply allow individuals to use commodity-backed money without fully replacing the current system. Among downsides to a commodity standard, there is no guarantee that the gov- ernment will stick to the price peg. Also, allowing a commodity standard to operate along with a fiat dollar opens both up for a speculative attack. Another downside is that even under a commodity standard, the Federal Reserve can still influence the economy via interest rate or other interventions. Therefore, at best, a commodity standard is not a full solution to returning to free banking. We have good reasons to worry that central banks and the gold standard are fundamentally incompati- ble—as the disastrous experience of the Western nations on their “managed gold standards” between World War I and World War II showed. K-Percent Rule. Under this rule, proposed by Milton Friedman in 1960,31 the Federal Reserve would create money at a fixed rate—say 3 percent per year. By offering the inflation benefits of gold without the potential disruption to the finan- cial system, a K-Percent Rule could be a more politically viable alternative to gold. The principal flaw is that unlike commodities, a K-Percent Rule is not fixed by physical costs: It could change according to political pressures or random economic fluctuations. Importantly, financial innovation could destabilize the market’s demand for liquidity, as happened with changes in consumer credit pat- terns in the 1970s. When this happens, a given K-Percent Rule that previously delivered stability could become destabilizing. In addition, monetary policy when — 739 — Federal Reserve Friedman proposed the K-Percent Rule was very different from monetary policy today. Adopting a K-Percent Rule would require considering what transitions need to take place. Inflation-Targeting Rules. Inflation targeting is the current de facto Federal Reserve rule.32 Under inflation targeting, the Federal Reserve chooses a target infla- tion rate—essentially the highest it thinks the public will accept—and then tries to engineer the money supply to achieve that goal. Chairman Jerome Powell and others before him have used 2 percent as their target inflation rate, although some are now floating 3 percent or 4 percent.33 The result can be boom-and-bust cycles of inflation and recession driven by disruptive policy manipulations both because the Federal Reserve is liable to political pressure and because making economic predictions is very difficult if not impossible. Inflation and Growth–Targeting Rules. Inflation and growth targeting is a popular proposal for reforming the Federal Reserve. Two of the most prominent versions of inflation and growth targeting are a Taylor Rule and Nominal GDP (NGDP) Targeting. Both offer similar costs and benefits. Economists generally believe that the economy’s long-term real growth trend is determined by non-monetary factors. The Fed’s job is to minimize fluctuations around that trend nominal growth rate. Speculative booms and destructive busts caused by swings in total spending should be avoided. NGDP targeting stabilizes total nominal spending directly. The Taylor Rule does so indirectly, operating through the federal funds rate. NGDP targeting keeps total nominal spending growth on a steady path. If the demand for money (liquidity) rises, the Fed meets it by increasing the money supply; if the demand for money falls, the Fed responds by reducing the money supply. This minimizes the effects of demand shocks on the economy. For example, if the long-run growth rate of the U.S. economy is 3 percent and the Fed has a 5 per- cent NGDP growth target, it expands the money supply enough to boost nominal income by 5 percent each year, which translates into 3 percent real growth and 2 percent inflation. How much money must be created each year depends on how fast money demand is growing. The Taylor Rule works similarly. It says the Fed should raise its policy rate when inflation and real output growth are above trend and lower its policy rate when inflation and real output growth are below trend. Whereas NGDP targeting focuses directly on stable demand as an outcome, the Taylor Rule focuses on the Fed’s more reliable policy levers. The problem with both rules is the knowledge burden they place on central bankers. These rules state that the Fed should neutralize demand shocks but not respond to supply shocks, which means that it should “see through” demand shocks by tolerating higher (or lower) inflation. In theory, this has much to recom- mend it. In practice, it can be very difficult to distinguish between demand-side
Showing 3 of 4 policy matches
About These Correlations
Policy matches are calculated using semantic similarity between bill summaries and Project 2025 policy text. A score of 60% or higher indicates meaningful thematic overlap. This does not imply direct causation or intent, but highlights areas where legislation aligns with Project 2025 policy objectives.