Keyword: governmentspending

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  • Obamacare, Cronyism, and Bailouts for Corrupt Health Insurance Companies

    07/16/2014 3:10:53 PM PDT · by Kaslin · 4 replies
    Townhall.com ^ | July 16, 2014 | Daniel J. Mitchell
    I thought TARP was the sleaziest-ever example of cronyism and corruption in Washington. The Wall Street bailout rewarded politically well-connected companies, encouraged moral hazard, and ripped off taxpayers. Heck, it was so bad that it makes the sleaze at the Export-Import Bank seem almost angelic by comparison. But I may have to reassess my views. One of the provisions of Obamacare allows the White House to give bailouts to big health insurance companies. You’re probably wondering why these big firms would need bailouts. After all, didn’t Obamacare coerce millions of people into becoming involuntary customers of these companies? That should...
  • Spending and Morality

    07/09/2014 4:32:11 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | July 9, 2014 | Walter E. Williams
    During last year's budget negotiation meetings, President Barack Obama told House Speaker John Boehner, "We don't have a spending problem." When Boehner responded with "But, Mr. President, we have a very serious spending problem," Obama replied, "I'm getting tired of hearing you say that." In one sense, the president is right. What's being called a spending problem is really a symptom of an unappreciated deep-seated national moral rot. Let's examine it with a few questions. Is it moral for Congress to forcibly use one person to serve the purposes of another? I believe that most Americans would pretend that...
  • The Slow-Motion Train Wreck of Entitlement Programs

    05/09/2014 12:23:17 PM PDT · by Kaslin · 17 replies
    Townhall.com ^ | May 9, 2014 | Daniel J. Mitchell
    The Census Bureau just released a report on America’s aging population. The big takeaway is that our population will be getting much older between now and 2050. And since I’m a baby boomer, I very much like the fact that we’re expected to live longer. But as a public finance economist, I’m not nearly as happy. As I explain in this interview with the Wall Street Journal’s Digital Network (and as confirmed by BIS, OECD, and IMF data), the United States is going to get deluged by a tsunami of entitlement spending. Dan Mitchell Discussing the Slow Motion Train Wreck...
  • Laughing at another Spectacular Obamacare Failure

    05/08/2014 12:41:15 PM PDT · by Kaslin · 12 replies
    Townhall.com ^ | May 8, 2014 | Daniel J. Mitchell
    As you can imagine, there’s a lot to choose from in the contest for the most spectacular waste of tax dollars. But the politicians in Oregon must really want the prize, because they managed to flush several hundred million dollars down a rat hole by putting together a state-run Obamacare website that has to be abandoned because it is so dysfunctional. And if the Oregon website is so bad that it’s switching to the much-derided Washington Obamacare website, it must be a disaster of unparalleled dimensions! Here are some excerpts from an AP report. After months of trying to get...
  • Why Did Western Nations Continue to Prosper in the 20th Century even though Fiscal Burdens Increased

    04/12/2014 12:21:13 PM PDT · by Kaslin · 11 replies
    Townhall.com ^ | April 12, 2014 | Daniel J. Mitchell
    In the pre-World War I era, the fiscal burden of government was very modest in North America and Western Europe. Total government spending consumed only about 10 percent of economic output, most nations were free from the plague of the income tax, and the value-added tax hadn’t even been invented. Today, by contrast, every major nation has an onerous income tax and the VAT is ubiquitous. These punitive tax systems exist largely because – on average - the burden of government spending now consumes more than 40 percent of GDP. To be blunt, fiscal policy has moved dramatically in the...
  • White House announces new climate change data website

    03/19/2014 6:39:09 AM PDT · by Innovative · 16 replies
    LA Times ^ | March 19, 2014 | Neela Banerjee
    As part of its campaign to step up efforts to address climate change, the White House on Wednesday announced the creation of a new website to serve as a one-stop location for the enormous amount of climate data housed at different federal agencies. In the administration’s most high-profile effort, the Environmental Protection Agency in September proposed rules to cut greenhouse gas emissions from new power plants. The president also plans to ask Congress for $1 billion in his 2015 budget to establish a “climate resiliency fund” that would finance research, preparation and infrastructure to adapt to extreme weather driven by...
  • 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...
  • Reaction to Obama Budget: Yawns, Spending Increases Won't Fly

    03/08/2014 2:22:17 PM PST · by VitacoreVision · 3 replies
    The New American ^ | 08 March 2014 | Thomas R. Eddlem
    Reaction to Obama Budget: Yawns, Spending Increases Won't Fly 08 March 2014 President Obama dropped his fiscal 2015 budget proposal on Congress March 4 to a chorus of yawns and indifference. The budget featured numerous massive new spending proposals — almost none of which are likely to become law — along with proposals for tax increases on “the rich” and fiscally unsustainable deficits through the rest of his presidential tenure. Even establishment press organs received the budget proposals with a reaction along a spectrum from yawns to cynicism about it's deployment as an election year wedge. Zeke J. Miller...
  • Recalling the Days When Democrats Cut Taxes

    03/06/2014 8:01:03 AM PST · by Kaslin · 3 replies
    Townhall.com ^ | March 6, 2014 | Larry Kudlow
    Fifty years ago last week, on Feb. 26, 1964, President Lyndon B. Johnson signed into law the sweeping tax cuts that had been championed by his predecessor, John F. Kennedy. The law brought the top marginal income-tax rate down to 70% from 91% and the bottom marginal rate down to 14% from 20%. The 22 rates in between also were cut. The tax legislation of 1964 was one of three major across-the-board income-tax cuts in the 20th century. The others took place in the 1920s, during the Warren Harding and Calvin Coolidge administrations, and in 1981 and 1986 during...
  • Obama’s New Budget: Burden of Government Spending Rises More than Twice as Fast as Inflation

    03/05/2014 7:30:23 AM PST · by Kaslin · 5 replies
    Townhall.com ^ | March 5, 2014 | Daniel J. Mitchell
    The President’s new budget has been unveiled. There are lots of provisions that deserve detailed attention, but I always look first at the overall trends. Most specifically, I want to see what’s happening with the burden of government spending. And you probably won’t be surprised to see that Obama isn’t imposing any fiscal restraint. He wants spending to increase more than twice as fast as needed to keep pace with inflation. What makes these numbers so disappointing is that we learned last month that even a modest bit of spending discipline is all that’s needed to balance the budget. By...
  • 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...
  • Obama Needs to Do Less Finger-Wagging and More Apologizing

    01/28/2014 6:41:17 AM PST · by Kaslin · 8 replies
    Townhall.com ^ | January 28, 2014 | David Limbaugh
    President Obama's policies continue to produce results that are the opposite of what he promises, yet he brazenly cites the abysmal state of his economy to announce -- indignantly -- that he will double down on his failures. Andrew Cloward and Frances Fox Piven -- notorious leftist professors who devised a sinister plot to overburden the American economy to the point of collapse and then replace it with a socialist system -- would be quite proud of their understudy. Obama's policies are drowning America in debt, unemployment, dependency and despair, yet he blames us for his failures -- as if...
  • ObamaCare Dumped $1.2 Billion Into Failing State Exchanges

    01/27/2014 7:19:58 PM PST · by Innovative · 12 replies
    Investor's Business Daily ^ | Jan 27, 2014 | JOHN MERLINE,
    Minnesota isn't alone in wasting federal dollars on failing exchanges. ObamaCare exchanges built by Oregon, Maryland, Hawaii, Massachusetts and Vermont also are suffering serious-to-fatal problems. These six states — all solidly Democratic — received $1.2 billion in ObamaCare grants, according to official tallies by the Centers for Medicare and Medicaid Services. Those dysfunctional six are in addition to 35 states that initially accepted funds to build exchanges that never got built.
  • $1 Trillion Spending Bill Emerges

    01/02/2014 3:42:31 AM PST · by LD Jackson · 15 replies
    Political Realities ^ | 01/02/14 | LD Jackson
    As was expected after the Paul Ryan/Patty Murray budget agreement was passed through Congress and signed into law by President Obama, a new spending bill is emerging in the House of Representatives. It is being written in a secretive process on the sub-committee level, for the time being. As outlined in the Ryan-Murray budget agreement, it is based on a $1.012 trillion spending cap. As also should be expected, it is opposed by many of the same Republicans who opposed the Ryan-Murray agreement because it raises the spending cap above the levels set by the sequestration legislation. There are more...
  • Barack Obama's Presidency Is A Complete Failure By His Own, Self-Imposed Standards

    12/31/2013 6:23:49 PM PST · by Innovative · 26 replies
    Forbes ^ | Dec 31, 2013 | Peter Ferrara
    At the end of 2013, after serving five years, Barack Obama is a complete failure as President, by his own standards, as reflected in his own words. How many times has President Obama told us that he is “fighting for the middle class”? But real median family income has been in a continuous downward spiral since he became President, actually falling more since the recession ended in the summer of 2009 according to the National Bureau of Economic Research than during the recession. That has added up by now to the middle class losing a month’s pay a year under...
  • Tom Coburn Slams Ryan/Murray Budget Deal

    12/12/2013 3:43:02 AM PST · by LD Jackson · 12 replies
    Political Realities ^ | 12/12/13 | LD Jackson
    If there is one person I respect in Congress, it is Senator Tom Coburn, R-OK. Yes, he is one of my Senators and I voted for him gladly. That's not saying I haven't disagreed with him on issues before, but most of the time, I find myself in complete agreement. He is now being very vocal in his opposition to the budget deal worked out between Paul Ryan and Patty Murray. And unlike a lot of his colleagues in Washington, Tom Coburn is willing to highlight how government spending really works. He has consistently fought against wasteful government spending and...
  • Budget Deal Reached - Real Compromise Or More Of The Same?

    12/11/2013 3:38:17 AM PST · by LD Jackson · 25 replies
    Political Realities ^ | 12/11/13 | LD Jackson
    Let's get something out of the way. I know we are in an era of divided government and that we can not expect to achieve all of our conservative goals. That's a given fact. If we expect to achieve anything, we must be willing to compromise on some issues. That's what Paul Ryan is already saying as he tries to sell the new budget deal he has reached with Democratic Senator Patty Murray to his fellow Republicans. I also know we have moved from government crisis to government crisis with predictable reliability. No budget deal has been reached for years. Our...
  • President Obama - In Denial About Spending Or Just Lying?

    11/21/2013 3:34:39 AM PST · by LD Jackson · 14 replies
    Political Realities ^ | 11/21/13 | LD Jackson
    The subject of this post could be up for debate. I have written before about President Obama's denial that we have an actual spending problem. I've lost count of the number of times he has led the charge to spend more of our hard-earned money. He has been out in front, telling the Republicans he was tired of hearing them talk about how much money the federal government was spending. He really seems to believe that isn't a problem and he isn't bashful about telling anyone who will listen. He wants to talk about anything but government spending. That narrative...
  • Harry Reid: Concern About Runaway Spending Is 'Anarchy'??!!!

    10/10/2013 4:23:02 AM PDT · by Kaslin · 22 replies
    Townhall.com ^ | October 10, 2013 | Larry Elder
    A national network reporter, during an interview about about the government shutdown, actually told me: "Democrats believe government should do some things. Republicans don't believe government should be doing anything." Where had we heard that characterization of the GOP? "'Anarchist'? Why in the world wouldn't I use the term anarchy?" said Senate Majority Leader Harry Reid, D-Nev., in a CNN interview. "That's what they are. They're anarchists. They don't believe in government -- at any level. ... They're anarchists, just like they were at the beginning of the 20th century. ... They're not blowing up buildings and they're not killing...
  • The Guy Who Couldn't Stop the Seas from Rising Tries to Close the Ocean

    10/06/2013 5:32:02 AM PDT · by Kaslin · 29 replies
    Townhall.com ^ | October 6, 2013 | Michael Schaus
    Assuming the position of “Supreme Leader” of the US government, President Barack Obama has named a new casualty due to the (partial) shutdown of the Federal Government: The Ocean.Over 1,100 square miles of ocean has been declared off limits to the public in the Florida Bay. Apparently, unknown to most Americans, allowing boats to meander into open water is a cost that has proven to be unsustainable in the event of a government shutdown. Well. . . At least that’s according to the National Park Service. Therefore, it only makes sense that the Federal Government allocate personnel and equipment...
  • Obama’s Fascination with Racism

    07/21/2013 1:06:48 PM PDT · by Kaslin · 39 replies
    Townhall.com ^ | July 21, 2013 | Mark Baisley
    I well remember my childhood best friend. Tony and I were the masters of construction for our class. We knew just how to maximize every component of the massive, industrial-strength wooden block set. No other kid in kindergarten could match the height of our buildings or the length of our bridges. Of course, we cooperated with the daily rituals of learning the alphabet and numbers, reinforced with campy songs. But free time was what we were there for. We were guys. We built stuff together. It was what we did. One afternoon while driving home from school in the family...
  • Civil War Brewing in Egypt?

    07/09/2013 7:21:47 AM PDT · by Kaslin · 10 replies
    Townhall.com ^ | July 9, 2013 | Mike Shedlock
    The Financial Times reports Muslim Brotherhood calls for uprising after Cairo violence  The political crisis in Egypt deepened on Monday when the Muslim Brotherhood called for an uprising against those who want to “steal the revolution” after at least 51 people were killed and 435 injured at a Cairo rally in support of the nation’s ousted president, Mohamed Morsi. Adli Mansour, the interim president, ordered the creation of a judicial committee to investigate the violence while an administration spokesman, told Reuters the violence “will not stop steps to form a government or a road map”. The interim administration earlier expressed “deep...
  • Everything You Need to Know about Friday's Unemployment Numbers

    07/06/2013 7:08:55 AM PDT · by Kaslin · 10 replies
    Townhall.com ^ | July 6, 2013 | Mike Shedlock
    Initial Reaction  The establishment survey showed a gain of 195,000 and that is a very respectable number. However, the household survey shows a more modest gain of 160,000 jobs. The civilian labor force rose by 177,000 thus the unemployment rate was steady at 7.6%. Digging beneath the surface, the numbers do not look so good.  326,000 Full-Time Jobs Lost Involuntary part-time jobs increased by 322,000 while voluntary part-time jobs increased by another 110,000. Thus, of the 160,000 household survey gain, 486,000 of them were part-time jobs, a loss of 326,000 full-time jobs. This caused a spike of 0.5 percentage points...
  • The French National Sport Is Taxation, not Soccer

    06/26/2013 8:35:49 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | June 26, 2013 | Daniel J. Mitchell
    I’ve never figured out why soccer is so popular in some parts of the world. What’s the point of watching people run up and down a field for 90 minutes when the result is usually a 0-0 tie? But non-Americans generally don’t get the point of baseball, so I guess it’s all a matter of background and taste. I mention soccer because it’s an excuse to write about competitiveness and taxation. Except I’m not going to write about low tax rates and job creation, orlow tax rates and capital formation. Instead, today’s topic is tax competitiveness and French soccer. And since...
  • China Acts to Calm Markets

    06/26/2013 8:14:46 AM PDT · by Kaslin · 1 replies
    Townhall.com ^ | June 26, 2013 | Mike Shedlock
    In the past few week, China intraday lending rates as measured by SHIBOR got as high as 25% (See China Cash Crunch: 1-Day Interest Rate Spikes to Record High 25%). With rates spiking, global stock markets plunged. On Monday China insisted banks had significant liquidity sending a message that banks need to manage their own risks. A translated message by the People's Bank of China on liquidity states "Commercial banks should concentrate storage for taxes and statutory reserve deposit and other factors impact on liquidity in advance to arrange sufficient positions to maintain adequate levels of reserve ratio, to ensure the normal settlement" while...
  • Email-Hate Mail: Liberals Put the "Moron" in the Oxymoron "Government Subsidies"

    06/23/2013 3:43:23 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | June 23, 2013 | John Ransom
    dhensley813 wrote: The city of Chicago really had no option but to curtail the benefits of retirees. It's not as bankrupt as Detroit, but it was getting there. Obamacare wasn't so much the reason the city cut retiree insurance, as the excuse it gave them to say that they weren't really being dropped. - Obama Solves Mass-Layoff Problem by Laying Off Mass-Layoff Statistics Guys at BLS Dear Comrade 813, I think they had no choice once they negotiated a contract that allowed retirees to have benefits that the city knew it couldn’t afford. That’s outrageous enough. But to make matters...
  • Why Government Spending Does Nothing for Jobs

    06/21/2013 5:51:59 PM PDT · by neverdem · 9 replies
    Bloomberg.com | Jun 19, 2013 | Caroline Baum
    Here's the link.
  • If Not Obama, then Impeach the 16th Amendment (The author makes an excellent point)

    06/09/2013 8:05:47 AM PDT · by Kaslin · 39 replies
    Townhall.com ^ | June 9, 2013 | Mark Baisley
    I’d say it’s official; President Obama’s Watergate has arrived.  And the witty question originally formed for Nixon’s big scandal can now be re-applied to President Plausible Deniability, “What did he not know and when did he not know it?”  While I do think that IRS-Gate spells the end of this President’s ability to effectively advance the liberal agenda, I do not see an impeachment on the horizon; at least not for Barack Obama – but perhaps for the Sixteenth Amendment.The recent parade of citizen witnesses to congressional hearings has laid bare the raw suffering that inevitably comes from tolerating the...
  • 50 Vetoes: How States Can Stop the Obama Health Care Law

    06/09/2013 7:15:41 AM PDT · by Kaslin · 5 replies
    Townhall.com ^ | June 9, 2013 | Michael F. Cannon
    Despite surviving a number of threats, President Obama’s health care law remains harmful, unstable, and unpopular. It also remains vulnerable to repeal, largely because Congress and the Supreme Court have granted each state the power to veto major provisions of the law before they take effect in 2014. The Patient Protection and Affordable Care Act (PPACA) itself empowers states to block the employer mandate, to exempt many of their low- and middle-income taxpayers from the individual mandate, and to reduce federal deficit spending, simply by not establishing a health insurance “exchange.” Supporters of the law do not care for this...
  • Unemployment: Is the Obamacare Effect Played Out?

    06/08/2013 6:44:34 AM PDT · by Kaslin · 8 replies
    Townhall.com ^ | June 8, 2013 | Mike Shedlock
    Initial Reaction The establishment survey showed a gain of 175,000 a reasonably good but not spectacular print. The bright spot was involuntary part-time employment only rose by 26,000 so most of the jobs were (for a change) full-time jobs. The civilian labor force rose by 420,000 for a change, enough to raise the unemployment rate 0.1 percentage points to 7.6%. The Participation Rate rose 0.1 to 63.4%, just off the low of 63.3% dating back to 1979. Obamacare Effect Given there was not a huge jump in part-time employment this month, the bulk of the Obamacare effect of employers reducing...
  • Repetitive Stupidity

    06/07/2013 6:49:23 AM PDT · by Kaslin · 14 replies
    Townhall.com ^ | June 7, 2013 | Mike Shedlock
    No one wins a trade war. Ever. Not countries, not companies, and certainly not consumers. Yet, here we go again. People's Daily says China has more cards to play in EU trade dispute. China still has plenty more cards to play in an increasingly ugly trade dispute with the European Union, the official People's Daily newspaper said on Thursday, accusing Europe of not realizing that its global power was waning. The EU will impose duties on imports of Chinese solar panels from this week, a move that infuriated Beijing despite European attempts to soften the blow with a reduced rate....
  • First Quarter Hourly Compensation Plunges

    06/06/2013 6:52:29 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | June 6, 2013 | Mike Shedlock
    Inquiring minds are digging into the stunningly bad Quarter-Over-Quarter decline in wages and real wages across all sectors as noted in the Revised First Quarter BLS Productivity and Costs report.   Sector Nonfarm Business Business Manufacturing Durable Nondurable Productivity 0.5 2 3.5 3.6 3.9 Output 2.1 3.1 5.3 6.4 4.2 Hours 1.6 1.1 1.8 2.8 0.2 Hourly compensation -3.8 -3.1 -6.9 -8.1 -4.9 Real hourly compensation -5.2 -4.6 -8.3 -9.4 -6.4 Unit labor costs -4.3 -5 -10 -11.2 -8.5 Year-Over-Year numbers are still positive but the revised quarterly numbers shown above are an unmitigated disaster. The BLS notes "Unit labor...
  • A Darkening Cloud of Scandals Engulfs Obama Administration

    06/05/2013 7:59:19 AM PDT · by Kaslin · 36 replies
    Townhall.com ^ | June 5, 2013 | Donald Lambro
    WASHINGTON - President Obama is being hit by new scandals almost weekly in a growing web of investigations and revelations that have further damaged his troubled administration. The U.S. Treasury's Inspector General released a new report Tuesday that the Internal Revenue Service spent $50 million on 220 conferences for IRS employees over a three year period beginning in 2010. Despite annual federal budget deficits of more than $1 trillion throughout Obama's first term, the IG found many of the IRS's expenditures to be downright wasteful. In one of its findings, the IRS focused on a conference in Anaheim, Calif. --...
  • Frackin' the Liberals

    06/02/2013 3:31:09 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | June 2, 2013 | John Ransom
    DagNabbit wrote: Ransom cracks me up: This is the same guy that screams "Burn more oil!" at the top of his lungs every week. You want to F the Saudis? Stop buying their oil. (PS: Now I'll make the Sunday edition where he goes on and on about how the Keystone pipeline will free us from the Saudi trap. Hint: It won't). - Red, White and Saudi PrivilegeDear Comrade DN,I don’t scream, “Burn more oil!”I scream: “Drill more oil.”Comrade, it may come as a big surprise, but despite the wishes of liberals like you, our economy depends upon oil. That’s not a fact that’s...
  • Running Out of Other People's Money

    06/01/2013 6:00:51 AM PDT · by Kaslin · 8 replies
    Townhall.com ^ | June 1, 2013 | Charles Payne
    Why socialism doesn't work, and the consequences once you've run out of other people's money. Item: Police in Venezuela seized 2,500 rolls of toilet paper in an overnight raid of a clandestine warehouse. In addition, officers seized 400 diapers and 7,000 liters of fruit juice. Item: The Elysee Palace sold off a tenth of its wine collection in a Presidential garage sale. The French government says it's no big deal, and they're trying to set the example. Selling presidential wine in a nation that loves its wine might chip away at awful approval ratings, but it speaks more to the...
  • DHS Explains Plans To Buy 1.6B Rounds Of Ammo: We're Buying in Bulk to 'Significantly Lower Costs'

    04/02/2013 4:03:00 PM PDT · by plain talk · 182 replies
    cnsnews.com ^ | 4-2-2013 | Gregory Gwyn-Williams
    The Department of Homeland Security (DHS) has responded to a letter dated November 13, 2012 from Senator Tom Coburn (R-Okla.) regarding the agency's ammunition purchases. Sen. Coburn published the response on the U.S. Senate Committee on Homeland Security and Governmental Affairs website yesterday, April 1, 2013. The response, dated February 4, 2013, says that DHS buys ammunition in bulk to "significantly lower costs."
  • Why Pay Physicians Anything At All For Providing Healthcare?

    03/18/2013 8:35:03 AM PDT · by Kaslin · 50 replies
    Townhall.com ^ | March 18, 2013 | Hal Scherz
    Last week, the National Commission on Physician Payment Reform released its recommendations, calling for the elimination of fee-for-service healthcare within the next 5 years. This organization, funded by the Robert Wood Johnson Foundation, is populated by physicians from academia, the insurance industry and from the public policy world. Having former GOP Senate Majority leader and cardiac surgeon Bill Frist serving as honorary chairman gives the imprimatur of bipartisanship and legitimacy. However, Dr. Frist, a former academic himself, has long favored a government supervised healthcare system, and is therefore less than objective in this regard. The Commission was formed to assess...
  • Senator Tom Harkin - Another Democrat In Spending Denial

    02/15/2013 4:52:07 AM PST · by LD Jackson · 7 replies
    Political Realities ^ | 02/15/13 | LD Jackson
    It was revealed recently that President Obama told John Boehner he was tired of hearing about a supposed spending problem in America, that it didn't exist. Democrat Minority Leader Nancy Pelosi joined in the madness last Sunday, declaring it was a false argument to say our government has a spending problem. Now, we have another liberal Democrat in spending denial, with Senator Tom Harkin voicing his opinion on the subject. This gets crazier every week. Let me share Harkin's thoughts on the issue, using two different sources because it seems a lot of people are not catching the full context...
  • Running With Scissors

    01/31/2013 5:15:52 AM PST · by Kaslin · 7 replies
    Townhall.com ^ | January 31, 2013 | Debra J. Saunders
    If you thought Republican presidential hopefuls were insane to refuse to raise their hands during a 2011 primary debate when asked whether they'd support a deficit reduction deal with $10 in spending cuts to $1 in tax increases, look at Washington today. In August 2011, President Barack Obama signed a debt ceiling deal that promised more than $2 trillion in spending cuts over a decade and zero dollars in new revenue. The package included $1.2 trillion in "sequestration" cuts -- $85 billion this year out of a $3.8 trillion federal budget -- which are supposed to begin March 1. This...
  • Economic Freedom on the Wane

    01/19/2013 7:55:36 AM PST · by Kaslin · 2 replies
    Townhall.com ^ | January 19, 2013 | Ed Feulner
    “Land of the free.” It’s right there in our national anthem. As well it should be -- the personal liberties we enjoy are the envy of many around the world. But freedom is no accident. It requires constant vigilance. Takes economic liberty, an area where the United States has begun to slip quite a bit lately. How would you say the U.S. compares to other nations? No need to guess. We can pinpoint it exactly by using an annual guide known as the Index of Economic Freedom. Top three, you think? Top five? Nope. Last year at this time came...
  • A Fiscal Fix or Another Fix

    01/14/2013 4:42:40 AM PST · by Kaslin · 9 replies
    Townhall.com ^ | January 14, 2013 | Terry Paulson
    Were you relieved when you heard on January 2nd that the House passed the Senate "compromise" bill to reinstate the Bush tax cuts for everyone making less than $400.000? People sighed, "At least my income taxes aren't going up!" The market reacted with immediate gains--the money keeps flowing. Like the drug addict in search of his next "fix"--Americans seem deluded into thinking that more spending is the solution. How many times have you heard the media comment on the next "solution" to deal with the crisis in Greece only to realize that the "solution" quickly failed leading to a new...
  • Banking On The Path To Fiscal Ruin

    01/09/2013 5:36:33 AM PST · by Kaslin · 2 replies
    Townhall.com ^ | January 9, 2013 | Ken Blackwell
    A trend has taken shape in Washington, and it has put our country on a devastating path towards potential fiscal ruin. The trend is characterized by an unsustainable penchant for spending money we don’t have. It became crystal clear in last year’s debt ceiling negotiations and was further highlighted by the recent debate surrounding the fiscal cliff; our country is broke, yet our government continues to spend more, risk more and accumulate more debt. Entitlements are often blamed for the vast majority of our spending issues, but our tendency to overspend is not restricted to just these. Parallels exist...
  • The Problem in Washington Isn’t the Constitution

    01/06/2013 10:12:38 AM PST · by Kaslin · 17 replies
    Townhall.com ^ | January 6, 2013 | Rich Tucker
    It’s easy to pity Kremlinologists. These are people who spent years, even decades, studying the Soviet Union. Their job was to explain why that country did the things it did, even though those actions so often seemed counterproductive. Suddenly, though, the USSR dissolved and the Kremlinologists were out of work. Louis Michael Seidman hopes to join them on the unemployment lines. He’s a “professor of constitutional law” at Georgetown University. That means students pay more than $60,000 per year to hear him lecture. Nonetheless, Seidman apparently wants to end his cushy teaching gig. “Let’s Give Up on the Constitution”...
  • Save the Middle Class ... and Everyone Else

    12/13/2012 6:04:33 AM PST · by Kaslin · 12 replies
    Townhall.com ^ | December 13, 2012 | Emmett Tyrrell
    Washington -- William McGurn, the esteemed Wall Street Journal columnist and soon-to-be editor of the editorial page of the New York Post, has made an interesting observation about the fabulous Bush tax cuts that are about to lapse. They amount to a substantial sum of money for a middle-class family. For the middle class it will be a big deal if they disappear. President Barack Obama has portrayed the Bush tax cuts as a rich person's tax cut, but now he is portraying them as a huge tax break for the middle class. Of a sudden he says do not...
  • It's The Spending, Stupid

    11/29/2012 4:49:16 AM PST · by LD Jackson · 6 replies
    Political Realities ^ | 11/29/12 | LD Jackson
    Did I miss the announcement? Are we in the midst of another election, without being aware of it? Oh, wait, this isn't an election. It's just President Obama in campaign mode, as he tries to push the campaign of rhetoric he has been using to sell Americans on the idea that the only way out of our fiscal doldrums is to soak the rich for even more taxes than they are already paying. Many Republicans are giving notice that they may be willing to compromise their principles on taxes, if the right deal can be reached on spending cuts. Meanwhile,...
  • Democrats Refuse To Compromise On Spending

    11/27/2012 4:47:53 AM PST · by LD Jackson · 12 replies
    Political Realities ^ | 11/27/12 | LD Jackson
    I wrote yesterday how some GOP lawmakers were announcing their willingness to abandon the "no new tax" pledge they made to Grover Norquist. Most, if not all, of them said they would consider compromising on taxes and new revenue, only if serious entitlement reform was part of any package agreed to by both parties. Clearly, the pressure is on the Republicans to compromise their hardline stance on raising taxes, with no mention of cutting spending. President Obama announced yesterday that he wanted to prevent Republicans from ruining Christmas for the middle class. That is what would happen, said the President,...
  • Payments on Interest to Exceed Defense Spending by $125 Billion [Under President's Budget Plan]

    10/24/2012 6:34:15 AM PDT · by Cincinatus' Wife · 3 replies
    Weekly Standard ^ | October 23, 2012 | DANIEL HALPER
    In a decade, federal spending to pay for the interest on America's debt will exceed total spending on the defense budget by $125 billion, or 20 percent, according to projections from the Congressional Budget Office and the Office of Budget Management. The projections are based on President Barack Obama's current budget plan. Here's a chart from the Republican side of the Senate Budget Committee that shows 2022 national defense spending vs. net interest payments:
  • How Much Do We Owe?

    09/29/2012 6:08:20 AM PDT · by Kaslin · 17 replies
    Townhall.com ^ | September 29, 2012 | John C. Goodman
    Have you ever wondered how much we as taxpayers actually owe because of commitments politicians have made on our behalf? Turns out, the answer is not as simple as you might think. The place to start is with a report put out annually by the U.S. Treasury. There I learned that the federal government officially recognizes an outstanding debt of $17.5 trillion. This amount consists of $10.2 trillion in government debt held by the public, plus pension and retirement benefits owed to federal employees. On the one hand, that amount exceeds our country’s entire gross domestic product and that’s pretty...
  • Who Is The Smallest Government Spender Since Eisenhower? Would You Believe It's Barack Obama?

    09/01/2012 5:57:29 PM PDT · by Major Matt Mason · 43 replies
    Forbes ^ | 5/24/12 | Rick Ungar
    It’s enough to make even the most ardent Obama cynic scratch his head in confusion. Amidst all the cries of Barack Obama being the most prolific big government spender the nation has ever suffered, Marketwatch is reporting that our president has actually been tighter with a buck than any United States president since Dwight D. Eisenhower...
  • Wars To End War

    08/08/2012 1:33:12 AM PDT · by Kaslin · 2 replies
    Townhall.com ^ | August 8, 2012 | John Stossel
    On his recent trip abroad, Mitt Romney observed an American taboo by not criticizing President Obama's military policy. But before his trip, he made his position clear. Obama has "exposed the military to cuts that no one can justify," Romney said. He meant that unless Congress intervenes, Pentagon spending will be cut by more than $500 billion over 10 years under the (bipartisan) budget sequestration scheduled for January. This terrifies those who fear that limiting the growth of the military-industrial complex will leave us less safe. But is that true? Even if $500 billion is actually cut, America still will...