Keyword: govspending

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  • Obama Budget Would Add Another $9.3 Trillion to the Debt

    02/09/2016 7:15:17 PM PST · by Kaslin · 22 replies
    The Washingon Free Beacon ^ | February 9, 2016 | Elizabeth Harrington
    resident Barack Obama presented a budget to Congress on Tuesday that if enacted would add nearly $10 trillion to the national debt, according to the White House's projections. The president's final budget, widely considered to be dead on arrival due to the Republican-controlled Congress, projects the nation would face a $27.4 trillion debt in 2026.The budget set the actual total debt for 2015 at $18.1 trillion, projecting an increase of $9.3 trillion. When President Obama took office the debt stood at $10.6 trillion.The White House budget for fiscal year 2017 includes old and new items of the president's agenda, including...
  • Finding Nemo at SeaWorld

    04/06/2015 5:37:39 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | April 6, 2015 | Katie Kieffer
    In Finding Nemo, a whale helps a clownfish find his son; at SeaWorld, killer whales helped me dismantle PETA’s lies. Last week, I had the opportunity to tour SeaWorld Orlando behind-the-scenes. I observed how the theme park’s animals are trained, treated, rescued, rehabilitated and—in over 25,000 cases so far—returned to the ocean. On my first day, I had the pleasure of meeting four-month-old “Tenacious,” a petite Gentoo penguin, who let me pet her silky head. I also met “Jasper,” a four-year-old female penguin who is so friendly that she has a following of super-fans who regularly seek her out at...
  • NYT Credits Big Government Spending for American Prosperity

    01/03/2015 8:18:51 AM PST · by Kaslin · 16 replies
    Townhall.com ^ | January 3, 2015 | Michael Schaus
    The folks over at the New York Times are keeping up their tradition of shilling for big government spending. In a recent column, the Times suggests that a recent uptick in government spending is creating prosperity, and boosting the economy. According to the Times: For a long stretch, government spending cutbacks at all levels were a substantial drag on economic growth. Now, finally, relief is in sight. For the first time since 2011, local, state and federal governments are providing a small but significant increase to prosperity.Yeah… Government is taking your money, spending it on redistributive welfare programs and special interest...
  • Pentagon Says It’s Ready for Audit After Years of Delays

    10/04/2014 7:59:03 AM PDT · by Kaslin · 17 replies
    Townhall.com ^ | October 4, 2014 | Nick Sorrentino
    Well that’s great. The question is how useful will this audit actually be, and how truthful? In the 3 years since the birth of this site we have chronicled plenty of examples of waste in the military. It is PERVASIVE. The level of waste speaks frankly to a culture of accounting negligence at the Pentagon which is perhaps only rivaled by the chicanery at the Federal Reserve. Heads (and many many heads at all levels) should have rolled long ago. But, because a large portion of the American people have given the US military a pass on waste (Republicans) nothing...
  • Obamacare, Cost Curves, the Ever-Worsening Entitlement Crisis, and the Case for Spending Restraint

    09/13/2014 10:22:29 AM PDT · by Kaslin · 5 replies
    Townhall.com ^ | September 13, 2014 | Daniel J. Mitchell
    I’m very worried about the burden of government spending.Moreover, I’m quite concerned that poorly designed entitlement programs will lead to fiscal disaster.And I’m especially irked that Obama made the problem worse by ramming through yet another misguided and costly health care entitlement.Given this background, you can imagine that I was very interested (and depressed) to see that Veronique de Rugy of the Mercatus Center put together some very important charts and analysis based on new fiscal policy projections.After crunching the new numbers from CBO, here’s her bottom line conclusion. …data from the Congressional Budget Office’s (CBO) recently released update to its...
  • Ouch, the Bill for ObamaCare Coming Due

    09/09/2014 9:26:40 AM PDT · by Kaslin · 38 replies
    Townhall.com ^ | September 9, 2014 | Peter Morici
    The bill is coming due for ObamaCare and it’s a whopper. According to Medicare Care’s own actuaries U.S. health care spending is about to rocket. Federal meddling in what was once the finest and cost-effective health care system on the planet is nothing new. Back in the 1960s, many Americans paid for doctor and hospital services out of pocket or through modestly priced private insurance. Health care spending was about 6 percent of GDP. Enter President Johnson and Medicare. He bought millions of votes by giving seniors free health care that they never paid for through payroll taxes during their...
  • An Italian Doctor Joins the Bureaucrat Hall of Fame

    08/30/2014 1:10:26 PM PDT · by Kaslin · 4 replies
    Townhall.com ^ | August 30, 2014 | Daniel J. Mitchell
    In April of 2013, I introduced a Moocher Hall of Fame to “celebrate” some very odious examples of welfare dependency.Since that time, I keep thinking that it’s time to do something similar for government bureaucrats. This compilation from last December would be a good place to start, though I’d have to figure out whether to have group memberships so that we could include the bureaucrats at the Patent and Trademark Office who get paid to watch TV, as well as the paper pushers at the Department of Veterans Affairs who got big bonuses after creating secret waiting lists that led...
  • The Dead-End Road Called Pre-K

    08/26/2014 6:33:54 AM PDT · by Kaslin · 16 replies
    Townhall.com ^ | August 26, 2014 | Phyllis Schlafly
    After President Obama in his 2013 State of the Union address called for a new federal entitlement for taxpayer-funded free preschool or pre-K for all 4-year-olds, we thought his idea would be quickly discredited, not only by its enormous cost, but even more importantly by the overwhelming weight of research proving the lack of any long-term benefit from such programs. Now we are dismayed to learn from Politico that a dozen Republican-governed states are expanding state-based pre-K programs or are planning to do so next year. And in Washington, some Republicans are offering bipartisan support to a pre-K bill drafted...
  • Spain Robs the Pension System to Pay its Bills

    08/22/2014 2:19:52 PM PDT · by Kaslin · 23 replies
    Townhall.com ^ | August 22, 2014 | Mike Shedlock
    The "recovery" news in Spain keeps piling up. Via translation from El Economista, Government has already taken 37% of the total 'pensions piggy bank'. If extractions continue at the current rate, the fund would be exhausted in 4 years. The Government of Mariano Rajoy has released 24.65 billion euros of the Social Security Reserve Fund in less than two years. Such amount represents nearly 37% of the total 66.815 billion fund accumulation. That figure marks the highest cumulative piggy bank draw-down in history, following its commissioning in 2000 and after eleven years in which successive governments did not need to...
  • America’s Built-In Greek Fiscal Future

    08/01/2014 11:39:24 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | August 1, 2014 | Daniel J. Mitchell
    I had a very bad lunch today. But not because of what I ate. My lunch was unpleasant because I moderated a noontime panel on Capitol Hill featuring Senator Ron Johnson of Wisconsin and my Cato colleague Chris Edwards. And I should hasten to add that they were splendid company. The unpleasant part of the lunch was the information they shared. The Senator, in particular, looked at budgetary projections over the next 30 years and basically confirmed for the audience that an ever-expanding burden of federal spending is going to lead to a fiscal crisis. To be blunt, he showed...
  • Detroit Retirees Asked to Pay for Decades of Democrat Government

    07/08/2014 5:05:54 PM PDT · by Kaslin · 61 replies
    Townhall.com ^ | July 8, 2014 | Michael Schaus
    Retired city workers in the Liberal Utopia of Detroit are being asked whether or not they want the city to exit bankruptcy, by slashing retirement pensions and cost of living adjustments. Officials are urging retirees to agree to a 4.5 percent cut in pension payouts, and an end to COLA. Unsurprisingly, some former city workers are less than thrilled by the idea of taking a pay-cut in an attempt to lessen the city’s debt obligation. Now, I understand the retirement pension of an average city worker is not amazingly lush in the city of Detroit; but (and this is...
  • Everything You Need to Know about Greece…Plus Remarkably Bad Poll Numbers for Obama

    07/04/2014 10:37:37 AM PDT · by Kaslin · 18 replies
    Townhall.com ^ | July 4, 2014 | Daniel J. Mitchell
    We’re going to touch on two topics today. I realize that not that many readers care about Greek economic policy, but sometimes other nations can teach us very important lessons. For better or worse. And in the case of Greece, the lesson is that government intervention and bureaucracy is an enemy of entrepreneurship. Probably the most amazing – and weird – example is that the Greek government wanted stool samples from entrepreneurs seeking to set up an online company (and, just to be clear, I’m not talking about furniture). We now have another example, but it’s seems more tragic than...
  • Repeal the Gas Tax…and Get Rid of the Department of Transportation

    05/10/2014 7:04:28 AM PDT · by Kaslin · 12 replies
    Townhall.com ^ | May 10, 2014 | Daniel J. Mitchell
    More than three years ago, I wrote that the Department of Transportation should be dismantled for the simple reason that we’ll get better roads at lower cost with the federalist approach of returning responsibility to state and local governments. I echoed those sentiments in this CNBC interview. Dan Mitchell Arguing to Get Washington out of the Transportation SectorSince there’s only an opportunity to exchange soundbites in these interviews, let me elaborate on some of the reasons why transportation should be a state and local responsibility. 1. Washington involvement is a recipe for pork and corruption. Lawmakers in Congress – including...
  • America Should Copy Europe…if the Goal Is Stagnation and Lower Living Standards

    04/29/2014 9:06:22 AM PDT · by Kaslin · 7 replies
    Townhall.com ^ | April 29, 2014 | Daniel J. Mitchell
    I periodically (some would say over and over and over again, though occasionally made more palatable by using humor and cartoons) warn that the United States should not become a European-style welfare state. But I wonder whether I spend enough time explaining why this would be a bad idea. After all, some people may think that you get more security and benefits with the European approach, so why not head in that direction. And these folks aren’t just pointing with approval to the Nordic nations. A writer for the New York Times actually thinks we should copy Italy. So it...
  • Nobody’s in Charge

    04/05/2014 10:31:37 AM PDT · by Kaslin · 3 replies
    Townhall.com ^ | April 5, 2014 | Rich Tucker
    Our federal government is very good at moving money from place to place. In fact, some 70 percent of federal government spending consists of simply shipping money from one place to another -- after taking a cut off the top. "In effect the government has become primarily a massive money-transfer machine," notes John Merline at Investor’s Business Daily, "taking $2.6 trillion from some and handing it back out to others." But who decided to spend that money? If you disagree with government-as-ATM, you ought to be able to campaign against the politicians who are making the spending decisions. But you...
  • Obama’s Dismal Legacy of European-Style Long-Run Unemployment (Long article)

    02/06/2014 6:00:22 AM PST · by Kaslin · 3 replies
    Townhall.com ^ | February 6, 2014 | Daniel J. Mitchell
    Looking at labor markets, my biggest concern is the drop in labor force participation. The data from the Labor Department on the employment-population ratio, for instance, suggest a permanent reduction in the share of the population that is working. And since economic output and living standards ultimately depend on thequality and quantity of labor and capital that is being productively utilized, it obviously is not good news that millions of people are no longer employed. But if I had to identify a second-biggest concern, it would be the “Europeanization” of long-run unemployment in the United States. Specifically, we have a...
  • The Wannabe-Emperor Plans to Bypass Congress, Constitution. . . Again

    08/15/2013 9:28:16 AM PDT · by Kaslin · 13 replies
    Townhall.com ^ | August 15, 2013 | Michael Schaus
    For being a former lecturer on Constitutional Law, the President seems to have a fairly precarious understanding of the separation of powers. Of course, this is assuming he concerns himself with the Constitution outside of political considerations. After his move to unilaterally delay aspects of Obamacare, and his extensive use of executive orders, the President is now considering adopting the powers of Congress in financial affairs. The wannabe-Emperor-Obama has decided that his executive branch alone (one of three total branches of government) might be able to increase taxes on all cell phone customers and use the money to build a...
  • America’s Corporate Tax System Ranks a Miserable 94 out of 100 Nations

    07/12/2013 10:24:04 AM PDT · by SeekAndFind · 11 replies
    Townhall ^ | 07/12/2013 | Daniel J. Mitchell
    I’ve relentlessly complained that the United States has the highest corporate tax rate among all developed nations. And if you look at all the world’s countries, our status is still very dismal. According to the the Economist, we have the second highest corporate tax rate, exceeded only by the United Arab Emirates. But some people argue that the statutory tax rate can be very misleading because of all the other policies that impact the actual tax burden on companies. That’s a very fair point, so I was very interested to see that a couple of economists at a German think tank put together a “tax...
  • I Shrugged

    07/03/2013 4:34:42 AM PDT · by Kaslin · 22 replies
    Townhall.com ^ | July 3, 2013 | John Stossel
    Many libertarians, outraged by how our government spies on us, call me a "traitor" because I'm not very angry. I understand that the National Security Administration tracking patterns in our emails and phone calls could put us on a terrible, privacy-crushing slippery slope. But we're not there yet. Some perspective: We are less closely watched by government than citizens of other countries. There are about 3,000 government security cameras around New York City, but London has 500,000. Some people in London love that, believing that the extra surveillance deters crime and catches terrorists. I thought government cameras helped identify the...
  • Calmer Waters for the Bond Market? Gold? Worst Over?

    06/29/2013 6:01:26 AM PDT · by Kaslin · 1 replies
    Townhall.com ^ | June 29, 2013 | Mike Shedlock
    Curve Watchers Anonymous has its eyes on the bond market as the quarter comes to a close today. It's been a very bad stretch for US treasuries as the chart below shows. Yield Curve as of 2013-06-28   click on chart for sharper image   $TYX: 30-Year Long Bond Yield - Green $TNX: 10-Year Treasury Note - Orange $FVX: 05-Year Treasury Note - Blue $IRX: 03-Mnth Treasury Bill - Brown The above chart shows the monthly close for the treasury symbols, except the current month is month to date (with the close coming up today). $TNX Daily That last candle is...