Keyword: spending

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  • A Thousand Days of Failure.Senate Democrats have refused to propose a budget for three years.

    01/24/2012 10:04:58 AM PST · by IbJensen · 3 replies · 1+ views
    Pajamas Media ^ | 1/24/2012 | Roger Morse
    One thousand days is long enough to get a lot done. An elephant needs only about two-thirds of that time for a full-term pregnancy. In the past 1,000 days, the Egyptians figured out how to overthrow their government. The Libyans figured out how to overthrow their dictator. Theoretically, man could travel to Mars and back in that time. However, the U.S. Senate has failed to figure out how to propose and pass a budget for this country as required by law in that time. It is only fitting that President Obama will deliver his State of the Union address on...
  • United Welfare States of America: In 2011 Nearly Half The Population Recv'd Benefits

    01/23/2012 3:53:49 AM PST · by RobertClark · 1 replies
    ZeroHedge ^ | 01/23/2012 | Tyler Durden
    While politicians may debate whether or not America is the most "generous" (with other generations' money of course) socialist welfare state in the history of mankind, the undoctored numbers make the affirmative case quite clear and without any chance for confusion. The single most disturbing statistic: in 2011 nearly half of the population lived in a household that receives some form of government benefit, which in turn accounted for 65% of total federal spending, or $2.5 trillion, and amount to 15% of GDP. And yet some people out there still think these people, long since indoctrinated to do little but...
  • Obama delays budget for 2013 [third time the administration has missed the legal deadline]

    01/23/2012 12:15:29 PM PST · by Sub-Driver · 29 replies
    Obama delays budget for 2013 By Erik Wasson - 01/23/12 02:08 PM ET President Obama will release his 2013 budget one week late, an administration official said Monday, the third time the administration has missed the legal deadline. Under the law, the budget is to be released on the first Monday in February, but the Office of Management and Budget (OMB) will be releasing the 2013 budget on Feb. 13. The Obama administration also delayed the release of the budget last year, waiting until Feb. 14. House Budget Committee Chairman Paul Ryan (R-Wis.) said the delay is symptomatic of a...
  • Obama Was Warned By His Economic Team That His Campaign Promises Would Create A Mountain Of Debt

    01/23/2012 7:15:24 AM PST · by blam · 22 replies
    TBI ^ | 1-23-2012 | Michael Brendan Dougherty
    Obama Was Warned By His Economic Team That His Campaign Promises Would Create A Mountain Of Debt Michael Brendan Dougherty Jan. 23, 2012, 8:57 AM Ryan Lizza reports for the New Yorker that on December 15 2008, a few short weeks before his inauguration, president-elect Obama was presented with a 57-page memo on the depth of the economic crisis drafted by Lawrence Summers and other economic advisors. The memo informed the president that if he enacted his campaign promises in the current environment, he would shoot a gigantic hole into the nation's budget. “Since January 2007 the medium-term budget deficit...
  • Uncle Sam Tells Americans How to Get Out of Debt

    01/23/2012 9:15:46 AM PST · by Altariel · 7 replies
    Reason ^ | January 19, 2012 | Shikha Dalmia
    After saddling the country with as much new debt as the rest of the world combined in one year flat, one would think that Uncle Sam wouldn’t have the cojones to dish out debt advice to others. But one would be wrong. In an unwitting self-parody worthy of Froma Harrop on The Daily Show, the Federal Trade Commission has created a step-by-step web guide for Americans “Knee-Deep in Debt.” The first step, says the agency, which represents a government that went over 800 days without passing a budget, is: create a budget! Get a “realistic assessment of how much money...
  • High-speed rail, the third-fastest way to Chicago!

    01/18/2012 7:48:57 PM PST · by WOBBLY BOB · 39 replies
    pioneer press ^ | 1-18-12 | joe soucheray
    E.R. Companion, of Eagan, writing to the editor in Sunday's Pioneer Press, wondered why our elected officials would commit to spending billions of dollars for a so-called high-speed rail line from the Twin Cities to Chicago. (Well, because they're nuts.) Companion was referring to a story that appeared Jan. 12 featuring the idea that the Minnesota Department of Transportation has begun studying environmental impacts along the 400-mile route, which would take passengers to Chicago, through Milwaukee, in an advertised five hours and 30 minutes. Companion wondered what was high-speed about that, and I could not agree more with his sentiment....
  • Editorial: California debate over higher taxes misses point

    01/17/2012 3:50:04 PM PST · by landsbaum · 4 replies
    The Orange County Register ^ | 1-17-2012 | Orange County Register editorial boarad
    . . . Higher taxes, one might conclude, are either inadequate or unnecessary. We should stand back from the furor over tax revenue uncertainties, and consider what we know to be true. Taxation is the power to destroy, Supreme Court Chief Justice John Marshall famously said almost 200 years ago. As such, it should be used as little as possible. . .
  • What The Republican “Establishment” Really Means

    01/17/2012 1:43:53 PM PST · by Cincinatus' Wife · 21 replies
    Red State ^ | September 17, 2012 | Dan McLaughlin
    There’s been a lot of talk, maybe too much talk, about the struggle between the GOP “Establishment” and “Outsiders,” sometimes – but sometimes not – meaning the Tea Party, however defined. There are many fault lines, wheels within wheels, that divide different groups on the Right, but it’s time to clarify the core issue that has people of perfectly conservative temperament and ideology scratching their heads at their own constituents. After all, we’re conservatives: establishments are a good idea, a necessary intersection of tradition and meritocracy, giving undue weight to neither and co-opting dangerous ideas about revolution and radical change....
  • Lawmakers Proposed $1 Tril In New Spending Last Year

    01/17/2012 8:05:16 AM PST · by Slyscribe · 7 replies
    Investor's Business Daily ^ | 01/17/2012 | John Merline
    Despite endless talk of spending cuts and fiscal restraint in Washington over the past year, lawmakers continued to act as though the government doesn't spend nearly enough. They introduced 874 bills in the House and Senate that would have boosted annual federal spending by more than $1 trillion if they'd all been signed into law, according to an analysis done for IBD by the National Taxpayers Union Foundation. In contrast, lawmakers offered up just 215 bills to cut spending last year that would have reduced federal outlays by about half a trillion had they all been signed into law.
  • Spend, Spend, Spend. It’s the American Way (Americans spend while the world saves)

    01/16/2012 3:45:41 PM PST · by SeekAndFind · 4 replies
    New York Times ^ | 01/16/2012 | Robert J. Schiller
    GRIDLOCK in Congress implies that there won’t be any collective decision to spend more as a nation to get out of our slump. Increases in deficit spending seem unlikely, and so does the balanced-budget stimulus I’ve been advocating in this column. For now, we must pin our hopes for a robust recovery on the willingness of millions of consumers to spend substantially more. But what really drives consumer spending? Economists are reasonably good at divining how consumers tend to react to changes in government policy, but in the absence of such policy, and when the economy is in the doldrums,...
  • Obama's Ridiculously Small Idea

    01/13/2012 10:17:17 AM PST · by CaroleL · 5 replies ^ | 01/13/11 | CaroleL
    This morning President Barack Obama stood before the cameras in an election-year attempt to claim he wants to shrink the size of the federal government and lower spending. According to the administration, his new proposal to merge six trade and commerce agencies would save $3 billion over the next 10 years and eliminate 1,000 to 2,000 jobs. Great headline unless you consider that since taking office, Mr. Obama has increased the federal workforce (excluding Census and Postal workers) by 7%; adding more than 144,000 to the federal payroll. The national debt is now over $15.2 trillion and has grown at...
  • Maryland Gov. O’Malley urges $372M for school construction

    01/11/2012 10:03:17 PM PST · by Tolerance Sucks Rocks · 5 replies
    The Washington Times ^ | January 10, 2012 | David Hill
    Maryland Gov. Martin O'Malley proposed Tuesday that the state spend $372 million on new school construction next fiscal year, unveiling a key initiative in his push to increase capital spending during the 2012 General Assembly. The proposed funds would be the second-most allotted by the state and would be well above the state-recommended minimum of $250 million for annual school construction. Mr. O'Malley, a Democrat, will recommend the spending as part of his proposed budget, which he will introduce this month. The assembly is expected to amend and pass a budget during its 90-day regular session, which begins Wednesday. “These...
  • Michigan Treasurer says Detroit to run out of money by May

    01/10/2012 6:25:40 PM PST · by Clintonfatigued · 39 replies
    Insight News ^ | January 10, 2011 | John Stoll
    The struggling U.S. city of Detroit is on track to run out of money in May instead of April after spending changes made by city officials, Michigan Treasurer Andy Dillon said on Tuesday. Dillon addressed media following a two-and-a-half-hour meeting with a team that is looking at Detroit's financial picture and trying to assess whether the city needs an emergency manager to take over operations. It was the first time the 10-member team met since it was appointed last month. He said Detroit's most urgent issue is figuring out how to arrest escalating retiree health care costs, and clean up...
  • Goldman's Latest Boiler-Room Stock: America

    01/10/2012 3:51:03 PM PST · by khnyny · 6 replies
    Rolling Stone ^ | January 2, 2012 | Matt Taibbi
    Have a column on Iowa coming soon, but first, a quick but absurd note from the world of high finance. It seems Jim O'Neill, the head of Goldman's Asset Management department, is predicting that the United States stock market may go up "15 to 20 percent." O'Neill apparently believes Ben Bernanke and the Federal Reserve will resort to another round of money-printing, and finally green-light the long-awaited "Qe3," or third round of "Quantitative Easing." The QE programs involve the Fed printing hundreds of billions of dollars and pumping them into the marketplace, where they ostensibly stimulate the economy (although recent...
  • 96% of Negative Super PAC Spending Since Iowa Has Targeted Gingrich

    01/10/2012 4:07:38 PM PST · by Jim Robinson · 83 replies
    WSJ - blog ^ | Jan 10, 2012 | By Jeremy Singer-Vine
    Nearly all negative spending by super PACs in the presidential campaign over the past week has gone toward opposing Newt Gingrich, the former House speaker who trailed badly in polls leading up to today’s New Hampshire primary, according to a WSJ analysis of expenditures reported to the Federal Election Commission. In total, anti-Gingrich super PAC Restore Our Future disclosed $89,962 in expenditures opposing Mr. Gingrich’s candidacy since the Jan. 3 caucuses in Iowa, where he came in fourth. That’s 96% of all negative spending in the past week by super PACs, the newest and most controversial form of political action...
  • Pedophilia Added to Greece’s Recognized Disability List

    01/09/2012 5:48:50 PM PST · by massmike · 41 replies · 1+ views ^ | 01/09/2012 | Associated Press
    Greek disabled groups are angry at a government decision to expand a list of state-recognized disability categories to include pedophiles, exhibitionists and kleptomaniacs. But the Labor Ministry on Monday said categories added to the expanded list — that also includes pyromaniacs, compulsive gamblers, fetishists and sadomasochists — were included for purposes of medical assessment and used as a gauge for allocating financial assistance.
  • Civic Hybrid owner sues Honda in small-claims court for poor gas mileage

    01/08/2012 1:08:24 PM PST · by bkopto · 64 replies
    Chico ER ^ | Jan 3, 2012 | Linda Deutsch
    A woman who expected her Civic Hybrid to be her dream car wants Honda to pay for not delivering the 50 mpg it promised. But rather than joining other owners in a class-action lawsuit, Heather Peters is going solo against the automaker in small-claims court, an unusual move that could offer a bigger payout. And if successful, it could open the door to a flood of similar lawsuits. A trial was set for Tuesday in Torrance, where American Honda has its West Coast headquarters. Peters, a former lawyer, says that as her vehicle's battery deteriorated, it got only 30 mpg....
  • If America Spends More Than Most Countries Per Student, Then Why Are Its Schools So Bad?

    01/07/2012 2:24:22 PM PST · by SeekAndFind · 105 replies
    Business Insider ^ | 01/07/2012 | Michael Brendan Dougherty
    Comparatively speaking, the United States does not starve its education system of revenue. The U.S. is one of the leaders in spending on Education, and yet it's schools are rated "average" by international bodies.  The three-yearly OECD Programme for International Student Assessment (PISA) report, which compares the knowledge and skills of 15-year-olds in 70 countries around the world, ranked the United States 14th out of 34 OECD countries for reading skills, 17th for science and a below-average 25th for mathematics.Worse, out of 34 OECD countries, only 8 have a lower high school graduation rate. The United States' education outcomes most resemble...
  • "America's New Years Resolution: Fiscal Fitness"

    01/05/2012 1:44:44 PM PST · by Aspenhuskerette · 2 replies
    The Aspen Times ^ | January 5, 2012 | Melanie Sturm
    Politicians are like New Year's revelers whose resolutions to get fit are as habitual as their unhealthy lifestyles. The most undisciplined merrymaker continually ups the weight-loss ante —10 pounds last year, 20 pounds this year — just as undisciplined politicians alleging fiscal prudence have upped their borrowing limit 4,967 percent since 1962, 67 percent since 2009. If you thought politicians were pummeled into fiscal restraint after last summer's debt-ceiling debacle, which led to America's credit downgrade by S&P, Think Again. In fact, 2011 ended with debt reaching the new limit of $15.22 trillion compelling Treasury to request another $1.2 trillion...
  • Aloha Obamas! First Family's Vacation Comes to an End, but Taxpayers Left with Hefty Bill

    01/03/2012 9:12:49 AM PST · by Responsibility2nd · 28 replies
    Hawaii Reporter ^ | 01/02/2012 | MALIA ZIMMERMAN
    KAILUA, HAWAII - President Barack Obama and his family and friends left Oahu on January 2, 2012, after a 17-day, notably low key vacation. While the Obamas were in the islands, they visited the grave of Stanley Dunham, President Obama's grandfather, at the National Memorial Cemetery of the Pacific and an exhibit at the East West Center that featured work of Stanley Ann Dunham, the president's deceased mother. The family also stopped at the President's favorite Kailua shave ice store, Island Snow, and the President played golf with his friends at Mid Pacific Country Club in Kailua and at Ko'olau...
  • Romney’s sons: Our dad is a total cheapskate who’d teach Congress to cut costs, too

    12/30/2011 5:49:02 PM PST · by SeekAndFind · 53 replies
    Hotair ^ | 12/30/2011 | Tina Korbe
    It was Peggy Noonan who suggested that, especially during difficult economic times, voters look for a father figure, which Barack Obama decidedly is not. (He’s the “bright, lost older brother,” she wrote.) Noonan thought Romney just might be the GOP candidate who most evokes the father figures in 1950s and 1960s sitcoms that, in her words, “terrorized and comforted a generation of children from non-functioning families.”If Romney managed to convey that impression even before his sons started to stump for him, then their presence on the campaign trail can only enhance the image of Romney as a wise, stable head-of-the-household...
  • Obama delays seeking debt-ceiling increase

    12/30/2011 3:27:04 PM PST · by mdittmar · 18 replies · 1+ views
    UPI ^ | Dec. 30, 2011 | UPI
    The Obama administration delayed asking Congress to raise the U.S. debt ceiling by $1.2 trillion after congressional leaders objected to the time frame. The White House said the delay won't affect the nation's creditworthiness, The Washington Post reported.Under the request the administration originally planned to submit Friday, Congress would have had 15 days to disapprove the request or else the debt ceiling automatically would have been raised from $15.2 trillion to $16.4 trillion.Congressional leaders, however, objected to the timeline, saying it would have been difficult for lawmakers to vote on the measure. The House doesn't return until Jan. 17 and...
  • Debt limit request delayed

    12/30/2011 11:42:54 AM PST · by ColdOne · 7 replies
    Politico44/whiteboard ^ | 12/30/11 | Jennifer Epstein
    HONOLULU -- President Obama will hold off on asking Congress to raise the debt limit on Friday as the Treasury Department had originally intended, White House principal deputy press secretary Josh Earnest said. Listening to requests from House Speaker John Boehner (R-Ohio) and Senate Majority Leader Harry Reid (D-Nev.) to have more time so that both houses can vote on a measure of disapproval. As part of the $1.2 trillion deal reached in August, both houses voted on a similar incremental increase in September. It passed in the House but fell in the Senate, and would need a two-thirds majority...
  • $6.5 Billion Wasted (A new report highlights the worst of federal spending)

    12/29/2011 12:27:28 PM PST · by SeekAndFind · 3 replies
    National Review ^ | 12/29/2011 | Andrew Stiles
    Many Americans are no doubt making resolutions to eliminate their bad habits in the New Year. The federal government would be well advised to do the same. President Obama and members of Congress could start by reviewing the jaw-dropping report put out by Sen. Tom Coburn (R., Okla.) outlining 100 examples — totaling more than $6.5 billion — of wasteful federal spending over the past year alone. What follows is a collection of some of the more outrageous examples.● $120 million paid out in retirement and disability payments to deceased federal workers. According to the Inspector General of the...
  • Motorists Paying for Bike Paths, Museums

    12/29/2011 9:13:04 AM PST · by MichCapCon · 22 replies · 1+ views
    Capitol Confidential ^ | 12/29/2011 | Russ Harding
    Where I live outside of Lansing, there are new bike paths sporting shiny asphalt, but the roads are crumbling. Motorists might be surprised to learn that of the 18.4 cents per gallon of federal gas tax they pay at the pump, only about 11 cents goes to maintain highways and bridges. According to federal law, about 10 percent of federal highway funds must be used for projects such as highway beautification and transportation museums. According to a new National Center for Policy Analysis report, “Paying for Pet Projects at the Pump,” the Federal Highway Administration also allocates gas tax revenues...
  • Our Trojan Horse president

    12/28/2011 3:16:40 AM PST · by Scanian · 25 replies · 1+ views
    The Washington Times ^ | 12/22/2011 | Robert Knight
    I was thinking about writing a novel about what might happen if a man who hates America and wants to bring it down is somehow elected president. What would he do? I sketched out a few plot elements, and you can decide whether this will fly. First, the Trojan Horse president would initiate unprecedented spending, driving the debt up by more than $4 trillion just in the first three years. Much of the money would go into the pockets of political supporters and people who donate heavily to his campaigns. He would ram through an unreadable law allowing the federal...
  • It's The Math, Stupid!: 7 Devastating Facts About 2012

    12/27/2011 9:43:31 AM PST · by redstateone · 60 replies
    Breitbart News ^ | December 27, 2011 | Wynton Hall
    As we enter 2012, the presidential candidates would do well to wrap their minds and messages around these seven mathematical facts: 1. Every day, the U.S. government takes in $6 billion and spends $10 billion. This means that every day the federal government spends $4 billion more dollars than it has. 2. The real unemployment rate is a jaw-dropping 11 percent. 3. Every fifth man you pass on your way to work is now out of work. 4. College graduates are now 34% less likely to find a job under Obama than they were under President George W. Bush. 5....
  • Obama to ask for debt limit hike: Treasury official

    12/27/2011 8:24:48 AM PST · by Hoodat · 143 replies · 10+ views
    Reuters ^ | 12-27-2011 | Margaret Chadbourn
    WASHINGTON (Reuters) - The White House plans to ask Congress for an increase in the debt limit before the end of the week, according to a senior Treasury Department official. The debt limit is projected to fall within $100 billion of the current cap by December 30. President Barack Obama is expected to ask for additional borrowing authority to increase the limit by $1.2 trillion. Under the new budget, Congress can only vote to block the debt-ceiling extension with a disapproval resolution. Lawmakers have 15 days within receiving the request to vote down the debt limit increase. The debt limit...
  • How wealth of members of Congress has TRIPLED in 25 years (snip)

    12/27/2011 5:53:08 AM PST · by COUNTrecount · 24 replies
    Daily Mail UK ^ | Dec. 27, 2011 | David Richards
    # Median net worth of member of Congress rose from $280,000 to $725,000 between 1984 and 2009 # Over same 25 years the wealth of the average U.S. family slipped from $20,500 from $20,600 The wealth gap between those governing the U.S. and the people they represent has dramatically widened, research shows. Against a backdrop of a vast budget deficit and fears of the fragility of the economy, analysis by the Washington Post shows that the median net worth of a member of Congress has nearly tripled over 25 years while the income of an average U.S. family has actually...
  • Democrat wants grants for women's restrooms in fire stations (promotes gender equity)

    12/26/2011 3:22:55 PM PST · by Libloather · 42 replies
    The Hill ^ | 12/26/11 | Pete Kasperowicz
    Democrat wants grants for women's restrooms in fire stationsBy Pete Kasperowicz - 12/26/11 10:50 AM ET Rep. Laura Richardson (D-Calif.) has proposed legislation that would let fire stations around the country apply for grants of up to $100,000 to build women's restrooms, showers and changing facilities. The Fairness in Restrooms Existing in Stations (FIRE Stations) Act, H.R. 3753, says these grants would help promote gender equity in fire houses. The findings of the legislation says most were built with a "single-gender workforce" in mind, that 50 percent of all fire departments do not have any women employees, and that women...
  • Rasmussen poll shows most voters want gov’t spending reduced

    12/26/2011 1:13:44 PM PST · by SeekAndFind · 15 replies
    Hotair ^ | 12/26/2011 | Ed Morrissey
    Should government intervene to improve the economy, and if so, by what means? Three years ago, a Rasmussen poll showed that almost two-thirds of respondents worried that the government would try to do too much in response to the unfolding economic collapse. Now a bare majority worries that government hasn’t done enough — but that’s not a signal that voters want another round of neo-Keynesian intervention. They would prefer that government start reducing its size and its tax haul: A new Rasmussen Reports national telephone survey finds that 42% of Likely U.S. Voters worry more that the federal government will...
  • In Kansas, Gov. Sam Brownback puts tea party tenets into action with sharp cuts

    12/22/2011 3:23:23 PM PST · by freespirited · 12 replies
    Wapo ^ | 12/21/11 | Annie Gowan
    If you want to know what a Tea Party America might look like, there is no place like Kansas. In the past year, three state agencies have been abolished and 2,050 jobs have been cut. Funding for schools, social services and the arts have been slashed. The new Republican governor rejected a $31.5 million federal grant for a new health-insurance exchange because he opposes President Obama’s health-care law. And that’s just the small stuff. A new “Office of the Repealer” has been created to reduce the number of laws and regulations, and the Repealer is canvassing the state for more...
  • It's Official: US Debt-To-GDP Passes 100%

    12/21/2011 3:32:30 PM PST · by DeaconBenjamin · 32 replies · 1+ views ^ | on 12/21/2011 16:58 -0500 | by Tyler Durden
    With precisely one year left for the world and all of its inhabitants, at least according to the Mayans, not to mention on the day of the Winter Solstice, it is only fitting that US debt, net of all settlements for all already completed bond auctions, is now at precisely $15,182,756,264,288.80. Why is this relevant? Because the latest annualized US GDP, according to the BEA, was $15,180,900,000.00. Which means that, as of today, total US debt to GDP is 100.012%. Congratulations America: you are now in the triple digit "debt to GDP" club! (naturally, this is using purely "on the...
  • Beset by Strife @Chemical Security Ofc, DHS Internal Rprt Claims Anti-Terrorism Prog Now In Jeopardy

    12/21/2011 2:59:00 PM PST · by Doogle · 11 replies
    FOXNEWS ^ | 12/21/11 | Mike Levine
    A federal program aimed at securing potentially dangerous chemicals is now in jeopardy after being beset by a series of deep-seated problems, including wasteful spending and a largely unqualified workforce that lacks "professionalism," according to a scathing internal Department of Homeland Security report obtained exclusively by Fox News. In 2007, Congress established the Chemical Facility Anti-Terrorism Standards program, which directs DHS to collect and review information from U.S. chemical facilities to determine whether they present a security risk. It is overseen by the Infrastructure Security Compliance Division -- or ISCD.
  • Fitch again warns U.S. debt burden threatens AAA rating

    12/21/2011 2:39:31 PM PST · by Idabilly · 4 replies
    IBTimes ^ | December 21, 2011 | Daniel Bases
    Fitch, when it lowered its outlook to negative, had said it was giving the U.S. government until 2013 to come up with a "credible plan" to tackle its ballooning budget deficit or risk a downgrade from the AAA status. "A key task of an incoming Congress and administration in 2013 is to formulate a credible plan to reduce the budget deficit and stabilize the federal debt burden. Without such a strategy, the sovereign rating will likely be lowered by the end of 2013," Fitch reiterated. Rival ratings agency Standard & Poor's cut its credit rating on the United States to...
  • Chevy Volt Costing Taxpayers Up to $250K Per Vehicle

    12/21/2011 1:02:05 PM PST · by Attention Surplus Disorder · 20 replies · 1+ views
    Michigan Capitol Confidential ^ | Dec. 21, 2011 | Tom Gantert
    Each Chevy Volt sold thus far may have as much as $250,000 in state and federal dollars in incentives behind it – a total of $3 billion altogether, according to an analysis by James Hohman, assistant director of fiscal policy at the Mackinac Center for Public Policy. Hohman looked at total state and federal assistance offered for the development and production of the Chevy Volt, General Motors’ plug-in hybrid electric vehicle. His analysis included 18 government deals that included loans, rebates, grants and tax credits. The amount of government assistance does not include the fact that General Motors is currently...
  • Economics and politics battle over budget (Face it, government spending never falls)

    12/16/2011 7:17:54 AM PST · by SeekAndFind · 2 replies
    Washington Times ^ | 12/16/2011 | J.T. Young
    The deficit supercommittee was undone by Washington’s fundamental dynamic: Spending almost never falls. However, we miss the most important lesson if we do not see that this failure was bigger than either Congress or Washington. It again proves that an economic problem cannot be solved by a political process. It is natural to assume that spending and revenues bear equal responsibility for today’s historic deficits. After all, aren’t all ledgers made up of just those two components? If each is half of the equation, how can each not be half of the solution? Instead, it is wishful thinking and bad...
  • SHUTDOWN AVERTED: Lawmakers Reach Spending Deal

    12/15/2011 8:54:48 PM PST · by SeekAndFind · 86 replies
    Business Insider ^ | 12/15/2011 | Zeke Miller
    Congressional lawmakers reached an agreement late Thursday to avoid a government shutdown this weekend, Democratic and Republican leaders will push for a final vote on the $1 trillion spending bill on Friday morning — hours before much of the federal government would have been forced to turn out the lights. The final bill removes several provisions of concern to President Barack Obama — including a measure to reinstate travel restrictions on Cuba, POLITICO reported. It also would ensure the Commodities Futures Trading Commission is fully funded next year. But Democrats had to drop their opposition to a ban prohibiting the...
  • White House Rejects Republican Payroll Tax Proposal

    12/09/2011 1:36:51 PM PST · by edpc · 16 replies
    Reuters via Yahoo News ^ | 9 Dec 2011 | Reuters
    WASHINGTON (Reuters) - The White House rejected on Friday the latest proposal from Republicans in Congress on a payroll tax cut, saying its costs needed to be offset in a balanced away and not with budget cuts exempting the rich. "We are open to looking at other ways to pay for this, but they have to be economically responsible and fair," White House spokesman Jay Carney said. "It is important that the overall package meet the standards the president has set."
  • Obama’s Square Deal and Just Deserts

    12/08/2011 7:14:22 PM PST · by NaturalBornConservative · 4 replies
    Natural Born Conservative ^ | December 8, 2011 | Larry Walker, Jr.
    - What? Obama Borrowed $5 Trillion in 3 Years?- By: Larry Walker, Jr. -It was back on July 3, 2008 when Barack Obama exclaimed, “The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents - #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back --...
  • Taking on the union freebies (Group suing public employee union)

    12/08/2011 10:22:12 AM PST · by inkling · 4 replies
    Goldwater Institute ^ | December 7, 2011 | Clint Bolick
    In September, my colleague Mark Flatten released an investigative report showing that Phoenix and other Arizona cities spend millions of dollars every year to pay employees to perform union work on city time. Less than three months later, we are going to court on behalf of Phoenix taxpayers to put an end to the practice of union “release time.” Our case takes on the city’s contract with the Phoenix Law Enforcement Association (PLEA), which provides an estimated $900,000 in annual release time for police union work, including lobbying. The provisions take six full-time officers off the streets – giving them...
  • Union bigs face rank and 'bile'

    12/08/2011 8:17:33 AM PST · by Gomez · 19 replies
    Workers outraged at Caribbean junket As union bosses continued livin’ it up in the Puerto Rican sun yesterday, municipal workers getting soaked by New York’s cold rain were livid that their hard-earned money was funding the leaders’ Caribbean “convention.” “There goes our union dues!” fumed a furious Local 3 electrician. “They paid for that junket with union dues.” “I’ve worked for 10 months in the last two years. I’m getting laid off at the end of the year,” the electrician railed. “I have no use for the union. All I see is waste, corruption and hypocrisy.” At an Upper West...
  • Obama: Limited Gov't That Preserves Free Markets 'Doesn't Work. It Has Never Worked'

    12/07/2011 5:18:54 AM PST · by radioone · 57 replies
    CNS News ^ | 12-7-11 | Terence P. Jeffrey - In a speech delivered at Osawatomie High School in Osawatomie, Kansas, on Tuesday, President Barack Obama argued that while a limited government that preserves free markets "speaks to our rugged individualism" as Americans, such a system "doesn't work" and "has never worked" and that Americans must look to a more activist government that taxes more, spends more and regulates more if they want to preserve the middle class.
  • White House Threatens to Cancel Congressional Holidays

    12/03/2011 12:27:34 PM PST · by John Semmens · 24 replies
    Bristling over what he labeled “unwarranted attempts to undo my accomplishments,” President Obama threatened to cancel this year’s Christmas and New Years’ holiday if GOP members of Congress do not accede to his demand for a “clean” omnibus $900 billion spending bill. The hang-up appears to be over Republican efforts to attach “riders” that would block federal funding of abortions and Wall Street bonuses to the bill. “The president will shut down the government before he would knuckle under to such pressure,” White House Budget Director Jack Lew warned. “A woman’s right to an abortion must not be held hostage...
  • White House warns spending talks are on track for another shutdown ‘crisis’

    12/02/2011 10:21:18 AM PST · by Qbert · 14 replies
    The Hill ^ | 12/02/11 | Erik Wasson
    White House Budget Director Jack Lew on Friday warned that the negotiations on the 2012 omnibus spending bill are going poorly and could soon lead to a “crisis” that shuts down the government. Appropriators are negotiating a nine-bill, $900 billion omnibus package, but the White House and Republicans are at odds over rider provisions attached to the spending bills, including ones related to abortion and the environment. Funding for the government runs out Dec. 16, leaving little time to resolve the disputes.  Lew said President Obama is prepared to veto an omnibus with ideological riders in it.  “I don’t think it is in...
  • Senate caps Secret Santa spending

    12/01/2011 10:26:01 AM PST · by WOBBLY BOB · 9 replies
    WORLD-HERALD BUREAU ^ | 11-30-11 | Joseph Morton
    Senate Republicans and Democrats have finally reached an iron-clad, bipartisan agreement to cap spending. Their Secret Santa presents won't cost more than $10. Sen. Mike Johanns, R-Neb., and Sen. Al Franken, D-Minn., organized the Senate gift exchange, which will take place at a holiday party sometime next month. An outspoken liberal voice, former "Saturday Night Live" funnyman Franken would seem an odd partner for the conservative, buttoned-down Johanns. "We're as near to polar opposites as you could find in the Senate," Johanns acknowledged, "and yet I think it's a good idea, and when he asked me I didn't hesitate a...
  • KYLE BASS: This Is What The End Of The Global Debt Super-Cycle Looks Like

    12/01/2011 8:22:21 AM PST · by blam · 72 replies · 1+ views
    TBI ^ | 12-1-2011 | Joe Weisenthal
    CHART OF THE DAY: KYLE BASS: This Is What The End Of The Global Debt Super-Cycle Looks Like Joe Weisenthal Dec. 1, 2011, 10:39 AM In his latest investor letter (via Gurufocus), Kyle Bass lays out his case that a wave of hard defaults is coming. His basic argument: The world is just saddled with too much debt. Throughout history, he says, total debt-to-GDP only ever breached 200% when nations were spending on war. Today we're at 310%. Says Bass: "There is no savior large enough with a magical pool of capital to stafe off this unfortunate conclusion to the...
  • EU Threatens Tiny Switzerland Over Low Taxes

    11/29/2011 12:53:32 PM PST · by Mikey_1962 · 27 replies
    New American ^ | 11/29/11 | Alex Newman
    Despite not being a member of the European Union, Switzerland is under intense pressure from Brussels to raise taxes as companies flee high-tax EU welfare states in favor of more business-friendly Swiss cantons. And if the nation refuses to bow down soon, so-called “eurocrats” are threatening retaliation. The Swiss government has been in discussions with EU bosses for over a year regarding Switzerland’s non-compliance with the “EU Code of Conduct for Business Taxation.” The EU’s goal, according to the Swiss Broadcasting Corporation, is to eliminate what the supranational regime in Brussels calls “harmful tax practices” — low taxes which attract...
  • The Big Dig: Fed Data Shows Households Attack Mountain of Debt

    11/29/2011 10:13:07 AM PST · by Hojczyk · 12 replies
    Yahoo Finance ^ | November 29,2011 | Daniel Gross
    The long slog continues. The feature of the post-crisis economy has been a two-speed recovery. As a group, companies have done extremely well. Corporate profits and cash holdings are at record highs. The stock market has bounced back smartly since the lows of March 2009. But consumers haven't done quite as well. For consumers, it takes a lot longer to restructure debt. Families can't fire their kids, or walk away from financial commitments so easily. For most families, the biggest fixed cost is generally housing. And while it's possible to cut housing costs by defaulting, or refinancing, or downsizing, people...
  • Confirmed: President Obama campaigns on the taxpayers’ dime more than previous presidents

    11/28/2011 6:13:32 PM PST · by Nachum · 31 replies
    Hot Air ^ | 11/28/11 | Tina Korbe
    The White House dismisses the data, but, according to a study by Brendan Doherty, a U.S. naval academy assistant professor and expert on presidential travel, President Barack Obama has visited swing states “on official business” more times in a shorter span than either George W. Bush or Bill Clinton. The Wall Street Journal reports: Between Jan. 1 and Nov. 17 of his third year in office, Bill Clinton held 40 events over 24 days in the battlegrounds of his time, according to data compiled by Brendan Doherty, a U.S. Naval Academy assistant professor who is widely viewed among political scientists...