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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...