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Keyword: entitlements

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  • We're All Infants Now (That "pony tail guy" may have been more prescient than we know)

    06/26/2014 6:01:09 PM PDT · by Chris Shugart Uncommon Sense · 10 replies
    Uncommon Sense ^ | 6-25-2014 | Chris Shugart
    Bear with me as I relate an incident I witnessed a couple of years ago; an important point lies at the end of this true story. I was standing in the checkout line at a Barnes & Noble bookstore when I noticed a mother pushing her two toddlers through the store in one of those tandem strollers. One child began moaning, not loudly, but persistently. I’ve raised two children, and I’m familiar with the sounds they can make to express their feelings. This wasn’t an expression of pain, hunger, tiredness, or any kind of stress that I could sense. The...
  • President Eisenhower on Stupid Republicans

    04/28/2014 4:53:54 AM PDT · by VitacoreVision · 17 replies
    LewRockwell.com ^ | April 27, 2014 | Laurence M. Vance
    President Eisenhower on Stupid Republicans Laurence M. Vance April 27, 2014 Regardless of what Republicans say about cutting entitlements, welfare, spending, etc., they will never do it. And they will certainly never end them completely. Indeed, they have not only accepted their existence; they are now big supporters of the welfare state just like the Democrats. I have often mentioned in my articles on Republicans how that the Republican majority in Congress for two years under President Eisenhower could have repealed the New Deal. Because they failed to do so, it was no surprise that the next Republican majority in...
  • Mother of nine who claims £38,000 in benefits to receive £1,400 more after falling pregnant again

    04/25/2014 9:14:44 AM PDT · by Tolerance Sucks Rocks · 68 replies
    The Daily Mail ^ | April 24, 2014 | Amanda Williams
    A mother-of-nine who claims £38,000 a year in handouts and demanded a bigger council house for her huge family is pregnant again - this time with twins. Cheryl Prudham, 32, and her husband Robert, 29, are set to receive at least a further £1,400 in handouts when the baby girls arrive. Mrs Prudham said she will 'not be made to feel guilty' for having children' as she and her husband both work part-time. Last year the couple, from Sittingbourne, Kent - who were living in a three-bedroom council house at the time - said they were entitled to a bigger...
  • Denmark’s Party Boat and the Ever-Expanding Welfare State

    03/18/2014 11:27:07 AM PDT · by Kaslin · 3 replies
    Townhall.com ^ | March 18, 2014 | Daniel J. Mitchell
    My all-time most-viewed blog post wasn’t the parable about beer and the tax system. Nor was it the joke about California, Texas, and the Coyote. Those won the silver and bronze trophies. The gold medal belongs to the two pictures that explain how the welfare state begins and how it ends. Those images make a very serious point that the social capital of a nation gets eroded and the economy gets overburdened when there are too many people riding in the wagon and not enough people pulling the wagon. And I’ve been especially fond of the wagon cartoons because they...
  • Under Obama: 70% of government now involves writing checks to individuals

    03/11/2014 6:43:45 AM PDT · by IBD editorial writer · 11 replies
    Investor's Business Daily ^ | 03/10/2014 | John Merline
    Buried deep in a section of President Obama's budget, released this week, is an eye-opening fact: This year, 70% of all the money the federal government spends will be in the form of direct payments to individuals, an all-time high. In effect, the government has become primarily a massive money-transfer machine, taking $2.6 trillion from some and handing it back out to others. These government transfers now account for 15% of GDP, another all-time high. In 1991, direct payments accounted for less than half the budget and 10% of GDP. What's more, the cost of these direct payments is exploding....
  • 70% Of U.S. Spending On Writing Checks To Individuals

    03/10/2014 5:30:04 PM PDT · by 2ndDivisionVet · 23 replies
    Investor's Business Daily ^ | March 10, 2014 | John Merline
    Buried deep in a section of President Obama's budget, released this week, is an eye-opening fact: This year, 70% of all the money the federal government spends will be in the form of direct payments to individuals, an all-time high. In effect, the government has become primarily a massive money-transfer machine, taking $2.6 trillion from some and handing it back out to others. These government transfers now account for 15% of GDP, another all-time high. In 1991, direct payments accounted for less than half the budget and 10% of GDP. What's more, the cost of these direct payments is...
  • Time for a Statue of Responsibility

    03/10/2014 5:59:03 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | March 10, 2014 | Terry Paulson
    Viktor Frankl, holocaust survivor and author of Man's Search for Meaning, once observed: “Freedom is in danger of degenerating into mere arbitrariness unless it is lived in terms of responsibleness. That is why I recommend that the Statue of Liberty on the East Coast be supplemented by a Statue of Responsibility on the West Coast.” Liberty and responsibility are both critical in preserving our republic, but the chances of America, much less California, allowing such a tribute to personal responsibility to be erected seems little to none. Nowhere is the absurdity of our entitlement age more evident than the...
  • Ever Wonder How Much You Can Make on Welfare Annually?

    03/06/2014 9:32:16 AM PST · by Reaganite Republican · 37 replies
    Reaganite Republican ^ | 06 March 2014 | Reaganite Republican
    PLENTY!     Here's the top 20 states in the US of A for shameless barnacles to belly-up to the trough, based on data from a study conducted last year by the CATO institute... When welfare payments exceed what can be made working full time at the minimum wage -as is now the case in 35 states- one can see how we might have a problem or two, i.e. exponentially-soaring entitlement spending coupled to an increasingly lazy, demoralized, handout-addicted workforce:   1. Hawaii: $60,590 2. District of Columbia: $50,820 3. Massachusetts: $50,540 4. Connecticut: $44,370 5. New York: $43,700 6. New Jersey: $43,450 7....
  • Increased domestic spending may be behind proposed military cuts, CBO report suggests

    02/26/2014 2:54:39 PM PST · by SkyPilot · 10 replies
    Fox News and Defense One ^ | 25 Feb 14 | Doug McKelway
    As the Obama administration announces proposed sweeping defense cuts, a Congressional Budget Office report documents how increases in other areas of domestic spending may be forcing the White House to reduce money for the military. The CBO report finds that mandatory spending, which includes Social Security, Medicare and Medicaid, is projected to rise $85 billion, or 4 percent, to $2.1 trillion this year. Interest on the debt is worse. It is projected to increase 14 percent per year, almost quadrupling in dollar terms between 2014 and 2024. "We are going to be spending more in interest in a couple of...
  • President Obama - No Reforms To Entitlements

    02/21/2014 4:50:24 AM PST · by LD Jackson · 9 replies
    Political Realities ^ | 02/21/14 | LD Jackson
    There are many things President Obama is consistent on. Lauding the woes of climate change is one. Income inequality comes to mind as another. And we should not forget spending reform. The current resident of 1600 Pennsylvania Avenue loves him some government spending. He likes to brag about reforming spending, but the reality of his actions speak much louder than his words. He has no intention of reforming anything to do with government spending and that includes entitlement spending. Any sane person who is capable of doing a little math knows there is no way we can ever dig our...
  • Moving To Mexico

    02/16/2014 1:11:42 PM PST · by Allen In Texas Hill Country · 26 replies
    Dear President Obama: I'm planning to move my family and extended family into Mexico for my health, and I would like to ask you to assist me. We're planning to simply walk across the border from the U.S. into Mexico, and we'll need your help to make a few arrangements. We plan to skip all the legal stuff like visas, passports, immigration quotas and laws. I'm sure they handle those things the same way you do here. So, would you mind telling your buddy, The President of Mexico, that I'm on my way over? Please let him know that I...
  • The Unheralded Return of Michelle, The Activist

    02/10/2014 11:41:43 AM PST · by afraidfortherepublic · 8 replies
    Canada Free Press ^ | 2-10-14 | Judi McLeod
    The unmasking of Michelle Obama the ‘returned activist’ went down in history at a Virginia high school on Wednesday, February 5, 2014. Five years into the Obama regime, Michelle came out of the White House as the activist she’s always been to instruct high school students that they are entitled to “free” government handouts. “Don’t leave money on the table,” she said. In a personal trajectory that went from telling kids what to eat to teaching them how to game the system, it’s no longer encouraging students to be the best they can be but how to get the most...
  • Shameless Load Boasts On-Air: She Lives GREAT on Welfare, 'Working is Stupid'- 'Taxpayers are Fools'

    12/02/2013 9:19:14 AM PST · by Reaganite Republican · 56 replies
    Reaganite Republican ^ | 02 December 2013 | Reaganite Republican
    Welfare queens, chillin' A  recent caller to an Austin radio talk show ('Lucy', 32 y.o., Riverside, TX) -just one of the record 91.5M Americans who've left the US work force- bragged to the host that both she AND her husband 'don't see the need' for working these days... even though they have three young daughters. She said she prefers to live on welfare and 'benefits' so she can 'visit friends and smoke weed all day'... Here's the sweet little package Lucy's managed to put together: Section-8 gov't-paid rent     $550/mo EBT/food stamps              ...
  • Index of Long-Term Care Vulnerability: A Case Study in Virginia

    11/26/2013 8:09:18 AM PST · by RightSideNews · 15 replies
    The Virginia Free Citizen ^ | 11/26/13 | Steve Moses
    Long-term care (LTC) for the elderly is already a large risk and expense for private citizens and public programs. The need for and cost of LTC will increase radically with the aging of the baby-boom generation. Most expensive long-term care, including care provided in nursing homes or by professional aides in family homes for more than nominal durations, is paid for by Medicaid, a means-tested public assistance program. Medicaid already strains federal and state budgets, including Virginia’s. Yet major initiatives at the federal level and in Virginia are underway to expand Medicaid coverage in general and to make the program’s...
  • Can We Support 75 Million Retirees in 2020? (50% Of Americans Receiving Gov't Benefits Already)

    11/09/2013 8:11:18 AM PST · by whitedog57
    Confounded Interest ^ | 11/09/2013 | Anthony B. Sanders
    Speaking at a Democratic fundraiser, held at a private residence in Dallas, Texas, President Obama stated, “we are remaking the courts.” The President’s statement is especially important, due to the fact that critics of the President have long accused him of attempting to change the American court system, in order to ensure his leftist agenda is deemed to be constitutional. The President, however, has denied doing this, until now... Continue reading at BeltwayExaminer.com
  • Kendall: Sequestration Will Make Hollow Force Inevitable

    11/07/2013 6:15:41 PM PST · by SkyPilot · 24 replies
    American Forces Press Service ^ | 7 Nov 13 | Army Sgt. 1st Class Tyrone C. Marshall Jr.
    Budget cuts imposed by sequestration will leave the Defense Department with a hollow force and debilitating shortfalls, the Pentagon’s top acquisitions chief said today. At a conference at the Center for Strategic and International Studies, Frank Kendall, undersecretary of defense for acquisition, technology and logistics, outlined the difficultly that the on-going budget sequester is causing in the department’s ability to plan for the future. “This is probably the worst time I’ve seen … in terms of our ability to do a sound plan and execute it with any kind of confidence at all,” he said. “It is one of the...
  • Ted Cruz Is Right About Growth, While Ben Stein Is Hopelessly Wrong

    11/06/2013 4:13:06 PM PST · by 2ndDivisionVet · 18 replies
    Forbes ^ | November 6, 2013 | Louis Woodhill
    In his remarks to the Robert L. Bartley Gala Dinner on October 23, Senator Ted Cruz disparaged the notion of a “grand bargain,” which would raise taxes and (supposedly) cut spending. Cruz went on to say: “ “I’m going to tell you my view, which is I think that we ought to be relentlessly, tirelessly, exclusively focused on growth, because every other priority we have depends on growth.”(continued)
  • Mitch Daniels: Sequestration Is a Bad Idea

    10/31/2013 5:13:00 PM PDT · by SkyPilot · 22 replies
    Newsmax ^ | 31 Oct 13 | John Gizzi
    In rare political remarks since becoming president of Purdue University, former Indiana Gov. Mitch Daniels has voiced sharp disagreement with many fellow Republicans over whether the automatic spending cuts known as sequestration should continue. Daniels, once director of the Office of Management and Budget under George W. Bush, dubbed sequestration a "bad idea" during a press breakfast hosted by the Christian Science Monitor. In so doing, the 64-year-old Daniels put himself on the opposite side of such national conservative leaders as Americans for Tax Reform President Grover Norquist, who recently told Newsmax "in the short term, it's important to...
  • Handout Nation

    10/30/2013 6:53:13 AM PDT · by SkyPilot · 15 replies
    WND ^ | 30 OCt 13 | Walter Williams
    According to a recent Fox News poll, 73 percent of Americans are dissatisfied with the direction of the country, up 20 points from 2012. Americans sense that there’s a lot going wrong in our nation, but most don’t have a clue about the true nature of our problem. If they had a clue, most would have little stomach for what would be necessary to arrest our national decline. Let’s look at it. Between two-thirds and three-quarters of federal spending, in contravention of the U.S. Constitution, can be described as Congress taking the earnings or property of one American to...
  • Obama's Push For Foreign Direct Investment (US Lowest Behind Mexico, Venezuela)

    10/27/2013 11:19:46 AM PDT · by whitedog57 · 7 replies
    Confounded Interest ^ | 10/27/2013 | Anthony B. Sanders
    President Obama and his senior cabinet officials are mounting a big push to bolster foreign direct investment in the US – amid evidence that America is falling behind other countries in the race for global capital. The evidence? How about the USA being near the bottom in the Americas with Chile leading and the USA down at the bottom with Mexico, El Salvador and Venezuela. Even Paraguay has a higher FDI as a percentage of GDP! fdiamericas “On the heels of the manufactured crises in Washington, it’s time for folks to come together and focus on doing everything we can...
  • Nation headed over ‘food stamp cliff’

    10/26/2013 3:31:25 PM PDT · by Cincinatus' Wife · 45 replies
    The Hill ^ | October 26, 2013 | Erik Wasson
    Millions of people are in for a shock at the end of the week when their food stamp benefits will be cut across the board. There is little chance that Congress will act to avert what hunger activists call the “food stamp cliff” — a cut to benefits that will affect some 47 million beneficiaries, including children and the elderly. The cut takes effect on Nov. 1, and will bring an end to a funding increase that Democrats wrapped into President Obama’s 2009 stimulus law. For a family of four, the cut will be $36 per month, or about 20...
  • The Luckiest Generation

    10/25/2013 7:52:17 PM PDT · by thecodont · 8 replies
    National Review / www.nationalreview.com ^ | OCTOBER 24, 2013 4:00 AM | By Kevin D. Williamson
    One of the great American assumptions — that while individuals and families may rise and fall, each generation will end up on average better off than the one that preceded it — has been the subject of much scrutiny in the past decade. Democrats and their affiliated would-be wealth redistributors have argued that the large income gains enjoyed by the highest-paid workers threaten the American dream of ever-upward generational mobility, while others have worried that the housing meltdown and the Great Recession, which inflicted serious damage on the net worths of many American families, now stand in the way of...
  • There Is Only ONE Peaceful Path Left To Avoid Destruction

    10/25/2013 8:02:43 AM PDT · by Attention Surplus Disorder · 58 replies
    The Market Ticker ^ | 2013-10-25 | Karl Denninger
    Folks, if you have read me recently you know that I've said that you are the problem and that the reason this is true is that you won't go on strike, you won't picket DC and refuse to leave until the government stops stealing from you and debasing the currency, you won't reduce your spending and income to only that which provides necessities, and most of you go on to justify your behavior with "my kids (and/or family) deserve what I can provide." You're fools and I'm going to prove it. Further, I'm going to prove -- by arithmetic --...
  • Deceleration Nation: 50% Of Defaulters Live In Homes Rent-free While 49% Of Americans On The Dole

    10/24/2013 1:59:54 PM PDT · by whitedog57 · 7 replies
    Confounded Interest ^ | 10/24/2013 | Anthony B. Sanders
    According to data released Tuesday by the Census Bureau, 49.2 percent of Americans received benefits from one or more government programs in the fourth quarter of 2011. govtbene And, of course, When Obamacare is fully implemented on Jan. 1, 2014, Americans earning up to 400 percent of the poverty level will qualify for a federal subsidy to buy health insurance. Speaking of more and more people of the government dole, RealtyTrac estimates that 47% of the nation’s foreclosed homes are currently occupied. The percentage actually tops 60% in some hot housing markets, like Miami and Los Angeles. Those still living...
  • 50% Of Foreclosured Homes Occupied, Free-rent To Defaulters

    10/24/2013 10:04:44 AM PDT · by whitedog57 · 7 replies
    Confounded Interest ^ | 10/24/2013 | Anthony B. Sanders
    According to data released Tuesday by the Census Bureau, 49.2 percent of Americans received benefits from one or more government programs in the fourth quarter of 2011. govtbene And, of course, When Obamacare is fully implemented on Jan. 1, 2014, Americans earning up to 400 percent of the poverty level will qualify for a federal subsidy to buy health insurance. Speaking of more and more people of the government dole, RealtyTrac estimates that 47% of the nation’s foreclosed homes are currently occupied. The percentage actually tops 60% in some hot housing markets, like Miami and Los Angeles. Those still living...
  • The Next Budget Battle (show conservative stripes and win)

    10/23/2013 5:11:49 AM PDT · by Cincinatus' Wife · 17 replies
    National Review ^ | October 23, 2013 | Michael Tanner
    The fight over the government shutdown may have come to an ignominious end, but the reprieve from Washington budgetary politics will be short-lived. The latest continuing resolution will expire on January 15, while we will hit our debt ceiling again on February 7. In the meantime, a budget conference committee, headed by Representative Paul Ryan (R., Wis.) and Senator Patty Murray (D., Wash.), is supposed to reach an agreement by December 13. While the shutdown fight was so traumatic that many Republicans may prefer that the budget debate simply go away, these negotiations are as crucial as ever. Yes, a...
  • Spain Versus The USA: A Tale Of Two Entitlement States (Spain RISING Labor Participation!)

    10/17/2013 4:20:50 PM PDT · by whitedog57 · 2 replies
    Confounded Interest ^ | 10/17/2013 | Anthony B. Sanders
    AN UNSUSTAINABLE SYSTEM The chart will shake future pensioners If you trust your retirement to politicians, poor end up feeling cheated. JUAN RAMÓN RALLO 16/10/2013 This is a chart that should make us all reflect on pensions. Displays the expected development of the working population and the number of pensioners. Although it is a terrifying figure, is based on two assumptions fed optimistic: the first is that in Spain work 70% of the population old enough, rather than just get in full bubble, the second is that the number of pension pay matches that of people over 67 years, which...
  • Majority of Texas fast-food workers on public assistance [duh!]

    10/16/2013 8:18:02 AM PDT · by fwdude · 43 replies
    The Texas Tribune ^ | October 15, 2013 | Corrie MacLaggan
    Fifty-nine percent of front-line fast-food workers in Texas rely on public assistance programs such as food stamps and Medicaid to support their families, according to a report released on Tuesday. Nationally, more than half – 52 percent – of the families of front-line fast-food workers use at least one public assistance program, compared with a quarter of the total workforce, according to the report. The research was sponsored by the University of California, Berkeley, Center for Labor Research and Education and the University of Illinois at Urbana-Champaign Department of Urban & Regional Planning.
  • GOP, tea party are the only adults in the room

    10/15/2013 2:31:11 AM PDT · by 2ndDivisionVet · 12 replies
    The Baltimore Sun ^ | October 14, 2013 | Peter Morici
    Democrats may think they've won, but the nation will lose if warnings about spending, debt go unheeded. If congressional negotiators fail to raise the debt ceiling and reopen the government, voters will blame House Republicans, but it's the president and fellow Democrats that are behaving like teenagers by wanting to spend irresponsibly. Studies by the non-partisan Congressional Budget Office and Medicare and Medicaid actuaries indicate if Washington continues spending and borrowing as current law requires, then all Americans, and not just the wealthy, will be paying higher taxes and more on private health care. Federal spending on Social Security and...
  • The Government Default Straw Man: It’s All About Unsustainable Spending

    10/11/2013 12:16:21 PM PDT · by whitedog57 · 2 replies
    Confounded Interest ^ | 10/11/2013 | Anthony B. Sanders
    The rhetoric in Washington DC and the media is … silly. Here is a chart of Federal government receipts and Federal government expenditure on interest for Treasury debt. fedrecifedint Does that look like the US can’t afford to pay its debt? Of course not. The problems is the voracious spending in DC which no one seemingly wants to stop. Now, if I plot Federal government current receipts against Federal government current expenditures, we see a different picture: its the spending that’s the problem. govtrevexp You can see in the picture that the much vaunted reduction in the deficit was a...
  • Head In Sand: Treasury Secretary Lew Warns Of Debt Ceiling, Not Rising Debt Or Entitlements

    10/10/2013 7:25:43 AM PDT · by whitedog57 · 12 replies
    Confounded Interest ^ | 10/10/2013 | Anthony B. Sanders
    U.S. Treasury Secretary Jacob J. Lew warned Congress that “uncertainty” over the debt limit is starting to stress financial markets and trying to time an increase to the last minute “could be very dangerous.” Lew was speaking in testimony prepared for a hearing before the Senate Finance Committee today. debtceilgst But not the growth rate in debt or entitlements? Obamacare and other entitlements will lead to even more explosive debt growth in the US. debtprojection7 The US and much of the world has already been experiencing explosive debt in both the public and private sectors. See this link for a...
  • Entitlement Nation: Even Housing Is Now An Entitlement (Corker-Warner NOT Reform)

    10/09/2013 8:23:36 AM PDT · by whitedog57 · 2 replies
    Confounded Interest ^ | 10/09/2013 | Anthony B. Sanders
    As former Reagan adviser David Stockman said about Obamacare, “It is a massive entitlement to end all entitlements.” But housing is an entitlement as well. Last week, no less than 63 members of the House and 13 Senators wrote to Financial Housing Finance Administration chief Ed Demarco demanding that he not lower the maximum loan limit for mortgages guaranteed by Fannie Mae and Freddie Mac. In earlier correspondence to DeMarco, first reported by National Mortgage News, National Association of Realtors (NAR) President Gary Thomas questioned the legality of FHFA reducing the loan limits at this time. “Our nation’s housing market...
  • On The Good Ship Follypop: 2 Full-time Workers For Every Person Collecting Social Security

    10/08/2013 12:10:45 PM PDT · by whitedog57 · 6 replies
    Confounded Interest ^ | 10/08/2013 | Anthony B. Sanders
    I have discussed the declining labor force participation and M2 Money Velocity before. Nothing has been the same since 2000. m2velolfp And real median household income has also shrank since 2000. realmedhinc There are not good economic conditions for a thriving housing market or mortgage market. But throw on some color from declining labor force participation, and we have an uh-oh! moment. Let’s start with the number of full-time workers. Usually work full-time is at 116,208 thousand. usuallywork The number of people on Social Security is now 57,554 thousand. ssnumb That is a ratio of full-time workers to Social Security...
  • Social Security Warns Benefits Could Get Cut

    10/08/2013 6:49:13 AM PDT · by SkyPilot · 139 replies
    The Wall Street Journal ^ | 8 Oct 13 | Damian Paletta@damianpaletta
    The Social Security Administration has begun warning the public it cannot guarantee full benefit payments if the debt ceiling isn’t increased. When asked by the public, the agency is notifying beneficiaries that “Unlike a federal shutdown which has no impact on the payment of Social Security benefits, failure to raise the debt ceiling puts Social Security benefits at risk,” according to a person familiar with the agency directive. The warning was assembled after the agency consulted with the Treasury Department, which would play a lead role in determining how the government handles payments if the borrowing limit isn’t raised soon....
  • Uncle Sam: The Ultimate Negative Equity Borrower (US Government LTV = 446%)

    10/05/2013 3:14:41 PM PDT · by whitedog57 · 3 replies
    Confounded Interest ^ | 10/05/2013 | Anthony B. Sanders
    After the housing crash of 2008, millions of US borrowers were suddenly plunged into a negative equity position of their homes where the amount they owed to lenders exceeded the value of the property. The problem was so bad that it has motivated cities to consider eminent domain to seize the underwater debt of borrowers (as in Richmond and San Bernardino California). Here is a recent map of negative equity from Zillow. zillowmapofnegeq These borrowers have nothing on Uncle Sam. Uncle Sam now owes $17 trillion to bondholders. GFDEBTN_Max_630_378 (3) Currently, Uncle Sam has public debt equal to 100.46% of...
  • Government shutdown: Is a grand bargain the only way out?

    10/03/2013 4:32:29 PM PDT · by SkyPilot · 34 replies
    Politico ^ | 2 OCt 13 | JAKE SHERMAN and CARRIE BUDOFF BROWN
    Many pragmatic House Republicans have come to a simple conclusion: Navigating their way out of this fiscal mess won’t be easy. They think their best chance to fund the government, raise the debt ceiling and extract any concession from President Barack Obama is to strike a big budget deal. Yes, the grand bargain is back. It’s about the only common thread these days that runs from House Republican leadership down through the rank and file. Most House Republicans privately concede they’re fighting a battle they’re unlikely to win, and to avoid a prolonged shutdown and a disastrous debt default,...
  • President Obama ties debt ceiling to Social Security

    10/03/2013 4:21:51 PM PDT · by SkyPilot · 59 replies
    Politico ^ | 3 Oct 13 | JENNIFER EPSTEIN
    President Barack Obama warned Thursday that as bad as the government shutdown is, a failure to raise the debt ceiling would be even more damaging to the U.S. economy, and called on congressional Republicans to end their “irresponsibility” on both issues. “As reckless as a government shutdown is … an economic shutdown that results from default would be dramatically worse,” Obama said on the morning of the third day of the government shutdown, at an event held at M. Luis Construction Company in the D.C. suburb of Rockville, Md. The president had on Wednesday warned Wall Street that “this time’s...
  • Will Our Entitlement Programs Drive us to Financial Ruin?

    09/30/2013 10:00:58 AM PDT · by William Tell 2 · 34 replies
    MainStreet.com ^ | 9-30-13 | Michael P. Tremoglie
    NEW YORK (MainStreet) — The 2013 Long-Term Budget Outlook released by the Congressional Budget Office (CBO) September 17 does not bode well for those who want to see decreasing deficits. The CBO projects spending for federal healthcareprograms will "rise substantially" in relation to the Gross Domestic Product (GDP)." The CBO predicts that budget deficits will decline during the next few years. After this initial decline, though, the CBO calculates ...
  • Liberal Entitlements: Popularizing Poverty And Dependence Since 1965

    09/27/2013 2:03:55 PM PDT · by Chris in VA · 3 replies
    Western Center for Journalism ^ | 9/27/13 | Chris McAllister
    Liberals are unwillingly to realize that you cannot legislate the poor into success. When poverty becomes comfortable, it goes from being a condition to a way of life. When liberals decided to increase the amount of benefits provided to the poor (which happens every year automatically) because “with a little more help, they will be able to make it on their own” the poor become more entrenched in their entitlement mentality. They will do even less to change any aspect of their life because they are certain that liberals will continue to provide more for them so they can work...
  • Dem Sen. McCaskill calls for criminal charges for 'Obamaphone' cheats

    09/23/2013 5:19:30 PM PDT · by Libloather · 14 replies
    The Hill ^ | 9/23/13 | Brendan Sasso
    Sen. Claire McCaskill (D-Mo.) on Monday called for criminal charges to be filed against people who defrauded a federal phone subsidy program. McCaskill sent a letter to the Federal Communications Commission, urging the agency to refer examples of fraud in its Lifeline program to the Justice Department for prosecution. "Knowingly providing false information to a government agency for profit must be investigated. If these companies are found in violation of federal law, I expect the DOJ will prosecute those responsible to the fullest extent of the law," she wrote. She also urged the FCC to more aggressively use its own...
  • ObamaCare Costs Will Explode; Trader Joe's Shows Why

    09/13/2013 5:41:11 AM PDT · by IBD editorial writer · 70 replies
    Investor's Business Daily ^ | 09/12/2013 | John Merline
    When Trader Joe's announced it was dropping health benefits for part-time workers, it reassured them that they'd be no worse off as a result. "We believe that with the $500 from Trader Joe's and the tax credits available under the (Affordable Care Act), many of you should be able to obtain health care coverage at very little if any net cost to you," noted CEO Dan Bane in a memo to employees revealed this week. In other words, Trader Joe's — like some other companies — has decided to shift its health care costs onto federal taxpayers via the subsidized...
  • Obama: reducing government spending “like eating your corn seed” (ignores unfunded liabilities)

    08/24/2013 10:17:43 AM PDT · by whitedog57 · 10 replies
    Confounded Interest ^ | 08/24/2013 | Anthony B. Sanders
    President Obama recently spoke at a Binghamton University Presidential Town Hall meeting. “We don’t have an urgent deficit crisis. The only crisis we have is one that’s manufactured in Washington, and it’s ideological. And the basic notion is, is that we shouldn’t be helping people get health care and we shouldn’t be helping kids who can’t help themselves and whose parents are underresourced, we shouldn’t be helping them get a leg up. And so some of the Headstart, even deeper cuts in education support, even deeper cuts in basic science and research. And, you know, that’s like eating your corn...
  • Obama: reducing government spending “like eating your corn seed” (ignores unfunded liabilities)

    08/23/2013 12:01:06 PM PDT · by whitedog57 · 20 replies
    Confounded Interest ^ | 08/23/2013 | Anthony B. Sanders
    President Obama recently spoke at a Binghamton University Presidential Town Hall meeting. “We don’t have an urgent deficit crisis. The only crisis we have is one that’s manufactured in Washington, and it’s ideological. And the basic notion is, is that we shouldn’t be helping people get health care and we shouldn’t be helping kids who can’t help themselves and whose parents are underresourced, we shouldn’t be helping them get a leg up. And so some of the Headstart, even deeper cuts in education support, even deeper cuts in basic science and research. And, you know, that’s like eating your corn...
  • The American Dream Turned Nightmare: Fannie Mae and Freddie Mac Cost $42.5K For Each Household

    08/17/2013 11:52:59 AM PDT · by whitedog57 · 14 replies
    Confounded Interest ^ | 08/17/2013 | Anthony B. Sanders
    The liabilities for mortgage giants Fannie Mae and Freddie Mac amount to $4.9 trillion, according to economist James Hamilton<. That equals $42,494.15 per household. This is especially troubling since the US homeownership rate is 65% and 60% of home sales are made with all-cash. So, renters really end up subsidizing homeownership AND Fannie Mae and Freddie Mac. While this is outrageous, the other costs of government spending and promises are even more outrageous. We know that the employment situation in the US is terrible with 70% of jobs created since January 2009 being low-paying, part-time jobs. And median household income...
  • What’s In Your Safe? Declining Household Income, Share of Entitlements At $607k

    08/17/2013 9:07:10 AM PDT · by whitedog57 · 5 replies
    Confounded Interest ^ | 08/17/2013 | Anthony B. Sanders
    We know that the employment situation in the US is terrible with 70% of jobs created since January 2009 being low-paying, part-time jobs. And median household income keeps declining. 20130816_mainstreetmisery After reading James Hamilton’s horrifying paper on the size of off-balance sheet liabilities for America, I thought I would put together the following table to you could see the household share of government debt, entitlements and The Federal Reserve Balance Sheet. householdshare There are 115,310,000 households in America. Government spending in the U.S. as of Q2 2013 was a little over $5.8 trillion. That equates to $50,328.68 per household. The...
  • Failing Our Children, Part Two

    08/15/2013 11:22:44 AM PDT · by Kaslin
    Townhall.com ^ | August 15, 2013 | Armstrong Williams
    There is very little meaning in things simply given away. America’s public education system has become the quintessence of that idea -- a “free” system that produces unprepared and overly entitled youths ill-equipped to advance America's future. High-minded progressives see public education as something to be protected from private competition and the ravages of more innovative systems at home and abroad. I spared teachers from my ire of my last column, but they are not without fault. For the most part, though, teachers are superseded by education reformers, especially on the right. In public education, teachers are rarely specialists in...
  • Federal Government Off-Balance Sheet Liabilities Around $70 Trillion (Runaway Train On Steroids)

    08/15/2013 5:26:22 AM PDT · by whitedog57 · 4 replies
    Confounded Interest ^ | 08/15/2013 | Anthony B. Sanders
    The Federal government debt outstanding is almost $17 trillion. This has grown at a staggering pace since 2007. GFDEBTN_Max_630_378 (2) And that is the GOOD news! According to economist James Hamilton at University of California at San Diego, the value of notional off-balance sheet liabilities was around $70 trillion in 2012. We were already aware that unfunded liabilities are staggering, according to USDebtclock.org. usbtclcok The biggest items in this category are Social Security and Medicare. If current policies are maintained, these off-balance sheet liabilities will require enormous sacrifices from future taxpayers. Better know as massive increase in taxes. Hamiton includes...
  • Federal Government Off-Balance Sheet Liabilities Around $70 Trillion (Housing A Big Part)

    08/14/2013 5:50:05 PM PDT · by whitedog57 · 6 replies
    Confounded Interest ^ | 08/14/2013 | Anthony B. Sanders
    The Federal government debt outstanding is almost $17 trillion. GFDEBTN_Max_630_378 (2) And that is the GOOD news! According to economist James Hamilton at University of California at San Diego, the value of notional off-balance sheet liabilities was around $70 trillion in 2012. We were already aware that unfunded liabilities are staggering, according to USDebtclock.org. usbtclcok The biggest items in this category come, of course, from Social Security and Medicare. If current policies are maintained, these off-balance sheet liabilities will require enormous sacrifices from future taxpayers. Better know as massive increase in taxes. Hamiton includes the implicit mortgage guarantees of Fannie...
  • Conn. Boy: I Was Cheated Over "Jeopardy!" Spelling

    08/04/2013 3:25:36 PM PDT · by LurkedLongEnough · 69 replies
    NBC-DFW ^ | Sunday, Aug 4, 2013 | AP
    The Newtown Middle School student won $2,000 as the runner-up. A Connecticut eighth-grader who misspelled the correct answer to a "Jeopardy!" question and lost money over it says he was cheated. Thomas Hurley III correctly answered the Final Jeopardy question about the Emancipation Proclamation signed by President Abraham Lincoln. But Thomas spelled it "emanciptation" and was ruled out by host Alex Trebek. He bet $3,000 of his $9,600 in winnings and finished well behind a rival who amassed $66,600. "I was pretty upset that I was cheated out of the final 'Jeopardy!' question," he told The News-Times of Danbury. "It...
  • Are We Rome Yet?

    07/31/2013 4:32:08 AM PDT · by Kaslin · 32 replies
    Townhall.com ^ | July 31, 2013 | John Stossel
    Unfortunately, the fall of Rome is a pattern repeated by empires throughout history ... including ours? A group of libertarians gathered in Las Vegas recently for an event called "FreedomFest." We debated whether America will soon fall, as Rome did. Historian Carl Richard said that today's America resembles Rome. The Roman Republic had a constitution, but Roman leaders often ignored it. "Marius was elected consul six years in a row, even though under the constitution (he) was term-limited to one year." Sounds like New York City's Mayor Bloomberg. "We have presidents of both parties legislating by executive order, saying I'm...