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Keyword: spending

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  • How Cities Are Solving Their Pension Problems – and the Bill That Makes It Easier

    08/11/2014 1:06:39 PM PDT · by MichCapCon · 4 replies
    Capitol Confidential ^ | 8/10/2014 | Jarrett Skorup
    There’s a saying among those who analyze public sector pension systems: “Pension don’t get funded – they get underfunded.” That is certainly true around Michigan. A review of the defined benefit pension systems for the 100 largest cities in the state shows that the vast majorities are underfunded – that is, that the municipality has promised more benefits than it has put away money for. But there is hope. Many cities have begun shifting new employees to a 401k-type, defined-contribution plan. For these plans, workers are given a (usually generous) match of money put into a fund. It is impossible...
  • GAO: Government failed to report $619 billion in spending to its transparency site

    08/06/2014 4:49:57 AM PDT · by TurboZamboni · 5 replies
    WaPo ^ | 8-5-14 | Josh Hicks
    The White House budget office launched USASpending.gov in 2007 to track federal spending after scores of lawmakers, including then-Sen. Barack Obama, successfully pushed through a bipartisan bill to ensure greater transparency with the funding. At last check, less than 8 percent of the site’s spending information was accurate, and federal agencies had failed to report nearly $620 billion in grants, loans and other forms of assistance awards, according to a recent report from Congress’s nonpartisan Government Accountability Office.
  • Grim Milestone: Current Administration Adds $7 Trillion to National Debt

    08/04/2014 2:53:36 PM PDT · by Kaslin · 7 replies
    Townhall.com ^ | August 4, 2014 | Daniel Doherty
    On July 3, 2008, then-presidential candidate Barack Obama infamously called President George W. Bush “unpatriotic,” and his polices “irresponsible” for adding $4 Trillion to the country's "credit card." This was almost more than all other US presidents combined, he argued, and therefore was putting America on a dangerous path to fiscal insolvency. Less than six years into his own administration, however, the president has failed to reverse the untenable course set by his predecessor; and, indeed, is making America's heavy debt burden even worse. CNS News reports: The total federal debt of the U.S. government has now increased more than...
  • Shock: 80% of U.S. population growth is from immigrants, resources being sucked dry

    07/30/2014 2:32:34 PM PDT · by Nachum · 44 replies
    Washington Examiner ^ | 7/30/14 | Paul Bedard
    A group dedicated to saving the planet by cutting runaway population increases is raising a new and shocking issue in Washington’s bitter fight over immigration reform: Most of the nation’s population growth is from immigrants, and they are consuming resources dangerously fast. According to Negative Population Growth Inc., 80 percent of the growth in U.S. population comes from immigration, legal, illegal and among American-born children of immigrants. “With increased population, we see a direct increase in the problems our nation faces on a daily basis: pollution, over-consumption, traffic gridlock, crowded schools and hospitals, overburdened social services, unemployment, crumbling infrastructure, urban
  • Debt servants: how sustainable are states’ legacy costs?

    07/29/2014 6:58:16 PM PDT · by TurboZamboni · 7 replies
    public sector inc ^ | 7-27-14 | Iliya Atanasov
    A recent report by JP Morgan’s Michael Cembalest provides a fresh look at the problem of state indebtedness. Cembalest, global head of investment strategy, is best known for his writings on housing and for flagging Bernard Madoff’s fund and refusing to invest in it, even while other divisions at JPMorgan gleefully did so. Cembalest looks at state governments’ annual payments towards bonded debt interest and retirement liabilities (defined-benefit and defined-contribution pensions as well as retiree healthcare benefits) expressed as percentage of total annual revenue. In addition to assessing states’ default risk, this approach quantifies exactly how much debt expenditures are...
  • Social Security Disability: What Happens When It Runs Out of Money?

    07/17/2014 3:05:46 PM PDT · by TurboZamboni · 39 replies
    motley fool ^ | 7-6-14 | Dan Caplinger
    Social Security helps not only retirees but also roughly 9 million of people suffering from disabilities. Unfortunately, the trust fund that covers disability payments is in even worse financial condition than the trust fund that covers retirement benefits. What will happen when the disability program's trust fund runs out? In the following video, Dan Caplinger, The Motley Fool's director of investment planning, talks about the two Social Security trust funds, noting that the latest estimates give the retirement trust fund about 20 more years before it runs out of money, but the disability trust fund is slated to be used...
  • CBO -- We're on the road to (fiscal) Perdition, and ObamaCare is hitting the gas pedal

    07/16/2014 5:02:03 AM PDT · by IBD editorial writer · 7 replies
    Investor's Business Daily ^ | 07/15/2014 | IBD Staff
    Debt: No sooner had the White House crowed about a smaller deficit than the Congressional Budget Office reported that the country is headed toward fiscal ruin driven by excessive spending, much of it the result of ObamaCare. Last Friday, in announcing the release of the administration's updated budget numbers, the acting White House budget director bragged that the deficit is undergoing "the most rapid sustained deficit reduction since World War II, and it continues to fall." What he didn't say is that it fell from all-time highs produced by Obama's spending spree. Or that deficits will soon stop falling and...
  • Social Security To Go Bust By 2030: CBO

    07/15/2014 3:53:18 PM PDT · by Oldeconomybuyer · 43 replies
    Investors Business Daily ^ | July 15, 2014 | By JED GRAHAM
    The $2.8 trillion Social Security Trust Fund is on track to be totally spent by 2030, the Congressional Budget Office said Tuesday. That's one year earlier than projected in 2013 and a decade earlier than the CBO estimated as recently as 2011. The CBO delivered the warning in a gloomy long-term budget outlook that shows federal debt reaching 106% of GDP in 25 years, up from 74% now.
  • Rich School, Dumb School?

    07/15/2014 6:59:51 AM PDT · by Academiadotorg · 24 replies
    Accuracy in Academia ^ | July 14, 2014 | Gabrielle Okun
    Although the U. S. spends more than half a trillion dollars on public schools, the Left still believes that raising that amount will somehow make students smarter. “Total expenditures for public elementary and secondary schools in the United States amounted to $638 billion in 2009-10, or about $12,743 per public school student,” according to the National Center for Education Statistics. “There must be a way to get enough dollars, public dollars to raise student achievement,” Carmel Martin, Executive Vice President for Policy at The Center for American Progress (CAP), said at a recent conference at CAP. At that same conference,...
  • 10 Countries Spending the Most on the Military

    07/10/2014 9:37:38 AM PDT · by SeekAndFind · 13 replies
    Wall Street 24X7 ^ | 07/10/2014 | By Thomas C. Frohlich and Alexander Kent
    Global military spending continued to decline last year. Although arms expenditure has actually increased in much of the world, military spending in the United States — which still accounted for 37% of total global military spending in 2013 — has declined in recent years.The Stockholm International Peace Research Institute (SIPRI) measures annual military spending for most of the world’s armed countries. According to SIPRI, the U.S. spent $618 billion on its military last year, more than three times the $171 billion budget of second place China. Based on SIPRI’s 2013 data, these are the countries with the largest military...
  • Joe Soucheray: St. Paul streetcars can't pay for themselves - so you'd pay

    07/08/2014 3:46:56 PM PDT · by TurboZamboni · 9 replies
    Pioneer Press ^ | 7-8-14 | Joe Soucheray
    Now that we have light rail, the progressives are ready to move on to the next step, streetcars along Seventh Street in St. Paul, with more lines to follow. The city council will vote Wednesday night to authorize a detailed study of a streetcar line between Arcade Street and Randolph Avenue on Seventh. That would be a second study, the first one being last year, your money paid out to a consulting firm from San Francisco. Progressives are dedicated to blocking the individual while encouraging the collective, but that offers no evidence of progress of any kind. There are already...
  • Kansas was supposed to be the GOP’s tax-cut paradise. Now it can barely pay its bills.

    07/08/2014 11:31:07 AM PDT · by SeekAndFind · 43 replies
    VOX ^ | 07/08/2014 | Andrew Prokop
    In 2012, Kansas governor Sam Brownback signed a massive tax cut into law, arguing that it would boost the state's economy. Eventually, he hoped to eliminate individual income taxes entirely. "Our place, Kansas, will show the path, the difficult path, for America to go in these troubled times," he said. National conservative activists raved. Patrick Gleason of Americans for Tax Reform said Kansas was "the story of the next decade." The Cato Institute praised Brownback's "impressive" tax cuts and gave him an "A" on fiscal policy. And the Weekly Standard's Bill Kristol said that, if reelected, Brownback would be "a...
  • OBAMA: My Highway Plan Is 'Not Crazy, It's Not Socialism, It's Not The Imperial Presidency'

    07/01/2014 12:55:23 PM PDT · by SeekAndFind · 52 replies
    Business Insider ^ | 07/01/2014 | Brett LoGiurato
    A rather exasperated President Barack Obama pressed Congress to find a solution to the looming Highway Trust Fund crisis, arguing "it's not socialism" to want to build new highways and bridges in the country. "It's not crazy. It's not socialism. It's not the imperial presidency," Obama said Tuesday afternoon during a speech in front of the Georgetown waterfront with the Key Bridge in the background. "We're just building roads and bridges, like we have for the past 50 years." The Highway Trust Fund is a transportation and infrastructure fund financed by gasoline taxes. It is headed towards insolvency because the...
  • Deficits Are Scary, But Spending Cuts Are Even Scarier

    07/01/2014 7:30:54 AM PDT · by SeekAndFind · 49 replies
    RCM ^ | 07/01/2014 | Ron Haskins
    It has been clear for at least a year that the focus of the nation on reducing the federal debt has vanished. The speeches of policymakers, the House and Senate legislative agendas, the content of the nation's debate forums, and the rhetoric of President Obama are all virtually silent on the nation's debt. You would think that the debt problem had been solved. But perhaps the most remarkable aspect of the intense, three-year focus on the debt that featured bitter inter-party battles and closing of the federal government while producing several laws that reduced the nation's debt in the short-term,...
  • O’Toole: Why is Congress still running the transportation system?

    06/28/2014 9:12:25 PM PDT · by Tolerance Sucks Rocks · 7 replies
    The Greeley Tribune ^ | June 27, 2014 | Randal O'Toole
    Oregon Sen. Ron Wyden has proposed a three-month transportation bill. Three more months, he says, will give Congress a chance to figure out a long-term solution. The only problem is that Congress had three months three months ago and did nothing. Meanwhile, Sens. Chris Murphy, D-Conn., and Bob Corker, R-Tenn., have proposed to increase gas taxes by 12 cents a gallon. Considering that the gas tax hasn’t been increased in more than 20 inflation-filled years, this would seem to make sense.It doesn’t, however, because a gas tax increase assumes there is a shortage of funds for transportation. Instead, the real...
  • Double Standard On School District Deficits

    06/25/2014 6:18:57 AM PDT · by MichCapCon
    Capitol Confidential ^ | 6/24/2014 | Tom Gantert
    The Muskegon Heights School District has been in deficit nine consecutive years, dating back to the 2004-05 school year, according to the Michigan Department of Education. Mosaica Education, a national charter public school operator, ran the Muskegon County school district for two years, but made no progress in ending the cycle of debt and now is ending its contract with the district. This had a few state lawmakers and State Superintendent Mike Flanagan questioning whether the state should hand an entire district over to charter public school operators, according to an article posted on the Michigan Radio website. Muskegon Heights...
  • Who’s to Blame for High Airfares?

    06/24/2014 8:18:59 AM PDT · by SoFloFreeper · 25 replies
    Daily Signal ^ | 6/24/14 | Bryan Riley
    Airline ticket prices are soaring this summer. Prices are up 12 percent since 2009, even after adjusting for inflation. When customers of Spirit Airlines book their flights, they can see exactly what they’re paying for. Spirit provides a breakdown of individual factors that make up the total cost of an airline ticket, including the base fare, fuel prices, and taxes/fees (aka the government’s cut).
  • The U.S. spent $3 million on boats for landlocked Afghanistan

    The United States spent more than $3 million on eight patrol boats for the Afghan police, according to an internal audit released Thursday. That sentence is surprising for a few reasons: 1. Afghanistan is landlocked. 2. Not a single boat has arrived in Afghanistan, even though the purchase was made in 2010. 3. That works out to be more than $375,000 per boat. Similar boats in the United States are typically sold for about $50,000.
  • Green Line opens soon, and St. Paul has a lot riding on this train

    06/08/2014 5:41:42 AM PDT · by TurboZamboni · 21 replies
    Pioneer Press ^ | 6-8-14 | Fred Melo
    Officials at all levels of government are banking that Metro Transit's $957 million investment will do more than simply shuttle existing bus riders in fancier vehicles between the downtowns of St. Paul and Minneapolis when it debuts June 14. They are counting on light rail to be a catalyst -- an economic game-changer for downtown St. Paul and much of University Avenue. Both areas have lost industry since the 1970s. The city as a whole lost 13.4 percent of its employment from 2000 to 2011, a period during which the U.S. shed 2.2 percent of its jobs, according to Wilder...
  • Obama calls for more spending on military presence, training in Europe

    06/03/2014 8:19:26 AM PDT · by Lucky9teen · 9 replies
    On the first day of a four-day European trip that will include a remembrance of D-Day and much discussion about the ongoing crisis in Ukraine, President Obama called on Congress to approve up to $1 billion in spending on additional U.S. air and ground forces in Europe. The initiative was announced while Obama was in Warsaw, Poland, the first stop on his three-country tour, which comes as the president attempts to ease anxiety among NATO allies who are wary of Russia's threatening moves in Ukraine. The White House said the funding would be used to increase military exercises and training...
  • Taxpayers Paid $5.6 Million for Climate Change Games

    05/23/2014 1:07:46 PM PDT · by Oldeconomybuyer · 11 replies
    Washington Free Beacon ^ | May 23, 2014 | BY: Elizabeth Harrington
    Taxpayers paid more than $5 million to create climate change games, including voicemails from the future warning that “neo-luddites” will kill global warming enthusiasts by 2035. Columbia University’s Climate Center has received $5.7 million from the National Science Foundation for the university’s “PoLAR Climate Change Education Partnership,” to “engage adult learners and inform public understanding and response to climate change.” Based on the theory that games “motivate exploration and learning of complex material,” the school created “Future Coast,” a website that features hundreds of made up voicemails painting a dire picture of the future as a result of climate change....
  • Budget Data Reveal: VA Spending Exploded Amid Deadly Delays

    05/21/2014 4:12:01 AM PDT · by IBD editorial writer · 15 replies
    Investor's Business Daily ^ | 05/20/2014 | John Merline
    As soon as the mushrooming scandal at the Veterans Affairs Department erupted, blame focused on budget shortfalls for chronic delays in treatment. Several VA hospitals have been accused of falsifying records to cover up delays in treating patients in desperate need. In Phoenix, as many as 40 veterans may have died as a result. Sen. Jay Rockefeller, D-W.Va., argued that the main cause of the delays is money: "If the VA does not have enough doctors to see these patients, then these problems are a result of a lack of funding." [snip] It sounds good. And it would seem to...
  • Union Economist Ignores Billions In Education Spending

    05/20/2014 12:12:38 PM PDT · by MichCapCon · 5 replies
    Capitol Confidential ^ | 5/19/2014 | Tom Gantert
    A Michigan Education Association video that says schools are getting less money under Gov. Rick Snyder does not tell the whole truth about education funding. In the video, "The Truth About Funding," MEA labor economist Ruth Beier repeats the union's inaccurate claim that school funding is lower today than before Gov. Snyder took office. Never mind that the non-partisan Senate Fiscal Agency reports that the state has increased state funding for K-12 schools. School funding and number of students in Michigan. In the video, Beier cites a reduction in per-pupil revenue and says: "Let me give you the facts …"...
  • Report bashes University of Minnesota for 'huge administrative bloat,' Kaler calls it "dead wrong"

    05/20/2014 5:09:50 AM PDT · by TurboZamboni · 4 replies
    The University of Minnesota, which was criticized last year by a Wall Street Journal report for its administrative spending, is now slammed by a left-leaning think tank for the same thing. The Star Tribune has the story on U of M president's Eric Kaler's reaction to a report by the progressive Institute for Policy Studies, which put the school among the worst offenders of what it called "administrative bloat" at the expense of things like financial aid. His reaction: The report is "dead wrong." Kaler said that the U of M has increased financial aid "substantially." Read the University of...
  • Christie's foreign policy speech criticized by NJ Republican senator

    05/19/2014 6:19:51 PM PDT · by ObamahatesPACoal · 4 replies
    The Star-Ledger ^ | Matt Friedman
    Gov. Chris Christie’s foreign policy speech Sunday night is facing some criticism at home — from a fellow Republican. State Sen. Michael Doherty (R-Warren), one of the most conservative New Jersey lawmakers, said Christie’s vision for America’s role in the world is unsustainable. “During his speech yesterday, Governor Christie advocated for an aggressive, interventionist foreign policy,” Doherty wrote in an email to the Star-Ledger. “He sounds like a Woodrow Wilson progressive who is out of step with the views of the American people.”
  • Bill would force members of Congress to fly coach

    05/18/2014 11:11:29 PM PDT · by Impala64ssa · 31 replies
    WATE.com ^ | May 15, 2014
    Members of Congress fly across the country continually for business, but a new bill would keep them from spending taxpayer money on first-class seats. The "If Our Military Has to Fly Coach Then So Should Congress Act" was recently introduced by Rep. Paul A. Gosar (R-Ariz.), with his colleagues Reps. Raul Ruiz (D-Calif.), Walter Jones (R-N.C.) and John Barrow (D-Ga.). The bill is aimed at cutting "waste, fraud and abuse," according to a statement by Rep. Gosar. "Members of Congress should not be using taxpayers' hard-earned money to buy luxury airline seats. If members of our military can't fly first...
  • States Spending Less Money On K-12 Education Get Better Results

    05/15/2014 9:02:55 AM PDT · by MichCapCon
    Capitol Confidential ^ | 5/14/2014 | Jack Spencer
    Many who advocate for perpetual increases in education spending believe that greater K-12 funding leads to better educational results. But looking at states across the nation shows this is not the case. In fact, most states that spend less on K-12 education than Michigan perform better — many significantly better. And analyzing gains in the National Assessment of Educational Progress (NAEP) show that lower-spending states are making the largest educational gains. Three states of particular note are Tennessee, Indiana and Florida. According to the NAEP, these states were among the top six in the nation for achieving net gains for...
  • U.S. Will Spend $24.5M to Circumcise Men in Swaziland

    05/15/2014 7:45:23 AM PDT · by GailA · 28 replies
    CNS ^ | 4/14/2014 | Melanie Hunter
    (CNSNews.com) – The United States Agency for International Development is planning to spend $24.5 million to circumcise an estimated 150,000 to 200,000 male infants and males aged 10 to 49 in the kingdom of Swaziland by 2018. The Kingdom of Swaziland has the highest rates of HIV in the world, accounting for 31 percent HIV prevalence among adults, the grant said.
  • ObamaCare contractors paid to sit at computers and hit refresh

    05/14/2014 11:25:22 AM PDT · by jimbo123 · 33 replies
    NY Post ^ | 5/14/14 | Fox News
    <p>Employees at an ObamaCare processing center in Missouri with a contract worth $1.2 billion are reportedly getting paid to do nothing but sit at their computers.</p> <p>“Their goals are set to process two applications per month and some people are not even able to do that,” a whistleblower told KMOV-TV, referring to employees hired to process paper applications for ObamaCare enrollees.</p>
  • The Slow-Motion Train Wreck of Entitlement Programs

    05/09/2014 8:23:36 AM PDT · by SeekAndFind · 13 replies
    Townhall ^ | 05/09/2014 | 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. I mentioned that it’s important to focus on...
  • Just How Much Beyond the Presidential Salary Do The Obamas Spend on Travel and Vacays?

    05/01/2014 7:58:36 PM PDT · by Aria · 27 replies
    Independent Journal Review ^ | 5/1/2014 | Michael Hausam
    Obama administration travel and vacation documents were released yesterday by Judicial Watch, and they reveal an unprecedented level of executive branch leisure spending. According to public information: “As of 2001, the president earns a $400,000 annual salary, along with a $50,000 annual expense account, a $100,000 nontaxable travel account, and $19,000 for entertainment. The most recent raise in salary was approved by Congress and President Bill Clinton in 1999 and went into effect in 2001.” Obtained via a Freedom of Information request, here are some of the Obama presidency’s spending items: Since 2009, a total of $40,000,000 has been spent....
  • Taxpayers Spending $53K for Everyone Insured Under ObamaCare

    05/01/2014 7:07:05 AM PDT · by SeekAndFind · 11 replies
    FrontPage Mag ^ | 05/01/2014 | Daniel Greenfield
    Give it a little time and it’ll be $530,000. We’re heading down a rabbit hole with people who print money for a living. Taxpayers will pay over $53,000 per each person newly insured under Obamacare, according to a Daily Caller News Foundation analysis of the Congressional Budget Office data.The CBO predicts that on average, federal taxpayers will now pay over 95% of the total cost of the Medicaid expansion. Fewer than expected Americans who were already eligible for traditional state Medicaid programs signed up for coverage while programs received free publicity due to the furor over the Medicaid expansion, leading...
  • White House back to peddling economic stimulus-via-infrastructure spending and new taxes

    04/30/2014 10:38:37 AM PDT · by SeekAndFind · 10 replies
    Hotair ^ | 04/30/2014 | Erika Johnsen
    As President Obama so peevishly informed us all earlier this month, that the debate on repealing/replacing ObamaCare is now absolutely beyond contestation, so it would be really great if we could all just shut up and move on to more important things — like, say, the economy, because “the fifty or so votes Republicans have taken to repeal this law could have been fifty votes to create jobs by investing in things like infrastructure, more innovation.” That’s why the White House is leading by example and contrasting itself with Congress’s deliberately light legislative schedule — by proposing the same old...
  • We Just Saw The Biggest Explosion In Health-Care Spending In Over 30 Years, A Big Impact On GDP

    04/30/2014 8:58:06 AM PDT · by SeekAndFind · 29 replies
    Business Insider ^ | 04/30/2014 | BRETT LOGIURATO
    Spending on health care grew an astounding 9.9% in the Bureau of Economic Analysis' advance estimate of first-quarter GDP. It's the biggest percent change in health-care spending since 1980, when health-care spending jumped 10% in the third quarter. Analysts said it's primarily due to a consumption boost from the implementation of the Affordable Care Act. Adjusted for inflation, America is spending more on health care than ever before.Personal consumption grew by 3.0%, about half of which was due to the growth in health-care spending, said Ian Shepherdson, chief economist for Pantheon Macroeconomics. "If health-care spending had been unchanged, the headline GDP growth number would have...
  • Smaller classes in St. Paul schools mean less room for diversity

    04/25/2014 3:02:36 PM PDT · by TurboZamboni · 12 replies
    MPLS Star & SIckle ^ | 4-24-14 | ANTHONY LONETREE
    The St. Paul teachers’ contract may have an unwanted side effect: Limiting school spots for the city’s integration effort. The class-size lim­its her­ald­ed as a key fac­et of the new St. Paul public schools teachers contract are com­pli­cat­ing ef­forts to boost en­roll­ment and blunt­ing an in­itia­tive de­signed to in­te­grate some of the district’s most popu­lar schools. That initiative, Re­flect­ing St. Paul, was launched this school year and seeks to open seats in 11 schools to stu­dents from neighborhoods with low­er in­comes, high­er per­cent­ages of non-Eng­lish-speak­ing families and low­er test scores. Under the program, the stu­dents, many from mi­nor­i­ty groups, are...
  • Reason Magazine: Rand Paul Is Right, Carter Was Thriftier Than Reagan

    04/25/2014 7:04:19 AM PDT · by SeekAndFind · 46 replies
    REASON ^ | 04/25/2014 | Nick Gillespie
    Mother Jones does love found footage, doesn't it? The progressive mag's airing of Mitt Romney's "47 percent" comments at a fundraiser definitely hurt the former Massachusetts governor in his attempt to boot President Obama in 2012. Now Mojo is back with the vid above, which the mag must hope will discombobulate Republicans and help put the brakes on a libertarian-leaning senator whose anti-war and anti-NSA stances draw long looks from disaffected liberals and lefties."Rand Paul: Jimmy Carter was better on the budget than Ronald Reagan" is how the vid begins. It shows the Kentucky senator in a variety of settings...
  • Obamacare Exchange 'Cover Oregon' Collapses in Failure

    04/25/2014 6:39:40 AM PDT · by Cheerio · 32 replies
    Breitbart ^ | 24 Apr 2014 | Dan Riehl
    Breitbart News and others have chronicled the "Unmatched failure" that Cover Oregon has now officially become. As was pointed out on March 20 of this year, "The Oregon Obamacare exchange has received $305 million in taxpayer-funded federal grants, spent $160 million on its busted website, dropped $10 million on hipster promotional ads, erroneously enrolled 4,000 illegal immigrants in full Oregon Health Plan coverage contrary to federal law, and has not enrolled a single Oregonian online." Oregon was even given "a $48 million "early innovator" grant for states whose exchanges were intended to serve as models for the nation." While the...
  • Government Subsidies Run Amok

    04/24/2014 10:12:31 AM PDT · by MichCapCon · 3 replies
    Capitol Confidential ^ | 4/20/2014 | Anita Folsom
    Failed government subsidies have existed in U.S. history from George Washington to Barack Obama. But what's especially remarkable about the stream of government aid — subsidies to the fur trade, steamships, railroads, airplanes, and even ethanol today — is that private citizens, with no federal funds, almost always outperform the men whom the government endows with large chunks of cash. In the first years of the American Republic, John Jacob Astor owned a fur company that defeated a government-funded rival — supported by George Washington himself. Astor actively traded with Indians instead of trying to tell them what they wanted...
  • Obama's Plan: Taxes, Spending And Debt

    04/18/2014 6:17:27 AM PDT · by SeekAndFind · 3 replies
    IBD ^ | 04/18/2014
    Remember President Obama's vow that, if re-elected, he'd pursue "balanced" deficit reduction? Either he forgot, or he hopes voters have, because a new report shows his latest budget is entirely unbalanced. When Obama released his budget this March, he said it included "smart spending cuts" and closed "tax loopholes" that benefit only "the wealthiest Americans." Obama added that his budget would put "our debt on a downward path as a share of our total economy, which independent experts have set as a critical target for fiscal responsibility." As with just about everything Obama says, none of these claims turns out...
  • CBO ON OBAMA BUDGET: HIGHER DEFICITS THAN CLAIMED

    04/17/2014 2:11:18 PM PDT · by Jim Robinson · 13 replies
    Breitbart ^ | April 17, 2014 | AP
    WASHINGTON (AP) — A report released Thursday by the nonpartisan Congressional Budget Office says President Barack Obama's budget request would mean significantly larger budget deficits than the White House claims. CBO says the budget plan proposed last month by Obama would produce deficits of $6.6 trillion over the next 10 years — $1.6 trillion more than the White House estimates. The main reason is that the White House has a rosier estimate of the economy's performance over the decade than CBO. That means the administration predicts higher tax revenues. The president's budget is just a proposal; it has gained little...
  • Obama, Biden to announce millions for job training

    04/16/2014 1:21:18 PM PDT · by Jim Robinson · 44 replies
    CNN ^ | April 16, 2014 | CNN White House Producer Kevin Liptak
    (CNN) – Hoping to help close the gap between workers' skills and the needs of businesses, President Barack Obama on Wednesday will announce he's putting hundreds of millions toward job training programs that produce highly skilled workers. Obama and Vice President Joe Biden will head to a community college in Allegheny County, Pennsylvania to make the announcement. The funding will come in two parts: $500 million toward a new job training competition that pairs community colleges with businesses, and $100 million for new apprenticeship programs to train workers. The White House says the new initiatives are meant to combat a...
  • Ambulance rides a costly chunk of Minnesota's Medicare payments

    04/15/2014 3:59:20 PM PDT · by TurboZamboni · 8 replies
    Pioneer Press ^ | 4-15-14 | Chrissy Snowbeck
    The federal Medicare health insurance program winds up paying the fare for many of the ambulance rides provided by the city of St. Paul. That's why the city in 2012 was one of the largest single recipients of Medicare payments among non-hospital health care providers in the state, according to data released this month by the federal government. Out of more than 19,000 health care providers during 2012 who cared for Medicare patients in Minnesota, the city's take of more than $2 million was the ninth largest individual sum. Whether they were providing ambulance rides or treating illnesses, the state's...
  • A-Z Index of U.S. Government Departments and Agencies

    04/13/2014 9:24:41 AM PDT · by mdittmar · 29 replies
    USA.gov ^ | 4/13/14 | USA.gov
    A-Z Index of U.S. Government Departments and AgenciesHouse Minority Leader Nancy Pelosi says Republican-led efforts to rein in government spending are pointless because there is nothing left to cut in the almost $4 trillion-a-year federal budget.“The cupboard is bare. There’s no more cuts to make. It’s really important that people understand that,” Mrs. Pelosi, California Democrat, said in an interview broadcast Sunday on CNN’s “State of the Union.”September 22, 2013
  • Fun Number; Apple Has Twice As Much Cash As The US Government

    04/13/2014 8:19:56 AM PDT · by RightGeek · 18 replies
    Forbes ^ | 4/13/2014 | Tim Worstall
    And, for good measure, Microsoft has more cash at hand that Uncle Sam does. [snip] It’s a very fun number, to be sure, but it’s not quite right for a number of economic reasons. It’s true that when you look at the balance sheets then Apple, say, has $160 billion in cash available, that Microsoft MSFT has a little under $85 billion and the Treasury only has $49 billion to hand to keep the government working. But it’s not really true for a couple of reasons that we’ll get to. [snip] The first and most obvious being that the government...
  • There is No Renaissance in Public Transit Use

    04/09/2014 6:39:06 PM PDT · by TurboZamboni · 21 replies
    MinnPost ^ | 4-9-14 | Katherine Kersten
    Are we seeing a renaissance in public transit use by Americans? The answer is yes, if you believe a new report from the American Public Transportation Association (APTA), the transit industry's lobby group. In fact, APTA's report is a textbook example of how deceiving statistics can be. The report states that in 2013, the number of transit trips was nearly 10.7 billion nationally--the highest since 1956, according to APTA. Michael Melaniphy, APTA's CEO, hailed what he called "a fundamental shift" in how Americans choose to get around. But even strong supporters of public transit like Michael Manville, David King and...
  • New building shows what legislators truly value: Themselves

    04/09/2014 4:44:45 AM PDT · by TurboZamboni · 8 replies
    Pioneer Press ^ | 4-9-14 | Joe Soucheray
    DFLers, who generally frown on grandeur as part of their ideology, are going to build themselves a marvelous new office building. They have been deaf to the idea that it is wasteful and that there are countless ways to accommodate the few of them who are going to be displaced by renovation work on the Capitol. To save a few bucks -- cutting it from $94 million to $77 million -- they claim they are going to eliminate an adjoining parking ramp. But that was to have been principally for the public anyway, and the public has been ignored in...
  • Obama administration spending $400,000 on camel sculpture in Pakistan

    04/04/2014 11:57:32 AM PDT · by Impala64ssa · 16 replies
    Daily Caller ^ | 11:43 AM 03/31/2014 | Alex Pappas
    The Obama administration wants to spend $400,000 on a camel sculpture for a new embassy building in Pakistan, according to a report Monday. BuzzFeed broke the news that the State Department has plans to commission the camel sculpture from John Baldessari, an American artist. The art is called, “Camel Contemplating Needle.” According to a government document posted by BuzzFeed, the sculpture is a “large 500lb fiberglass aluminum, stainless steel, acrylic and painted contemporary art piece.” “Public art which will be presented in the new embassy should reflect the values of a predominately Islamist country,” the document states. While the United...
  • Paul Ryan's Budget Exposes Democrats' Bankruptcy Of Ideas

    04/02/2014 7:15:14 AM PDT · by SeekAndFind · 29 replies
    IBD ^ | 04/02/2014 | Editorial
    Whatever objections anyone might have to various details in Rep. Paul Ryan's bold new plan to cut $5 trillion of government waste, one fact trumps all else: Unlike Democrats, he offers solutions, not denial. The one thing that stands out in the long-term budget plan unveiled Tuesday by House Budget Committee Chairman Ryan, R-Wis., is his acceptance of a fact Democrats want to hide: You can't squeeze enough extra money out of the rich to pay for our endlessly expanding entitlement programs of Medicare, Medicaid and Social Security. Tax revenue over many decades has been relatively unchanging . And it...
  • The Obama Debt Tracker - Obama doubles America's publicly held debt in just 5.2 years

    04/01/2014 3:22:05 PM PDT · by jpl · 20 replies
    The United States Department of the Treasury ^ | Monday, April 1, 2014 | The United States Department of the Treasury
    I wish that this were just another bad April Fools' Day joke, but sadly, this story is all too real. Since President Barack Hussein Obama was inaugurated into office a little over five years ago, Obama, Pelosi, and Reid have doubled America's publicly held debt, an increase of more than 6.3 trillion dollars: Date                   Debt Held by the Public         Intragovernmental Holdings   Total Public Debt Outstanding 03/31/2014        6,307,310,739,681.66          4,319,566,309,231.42          10,626,877,048,913.08 8/19/2011          12,619,319,113,193.99 ...
  • Paul Ryan Unveils 2015 budget plan: Includes major spending cuts

    04/01/2014 10:34:54 AM PDT · by SeekAndFind · 16 replies
    CBS News ^ | 04/01/2014 | ALICIA BUDICH
    "Tighten the belts" is one tired takeaway from House Budget Committee Chairman Paul Ryan's budget proposal, released today. The budget proposes to cut $5.1 trillion from projected spending over the next 10 years, getting a lot of its savings from repealing the president's health care law and changing Medicaid. The document, titled again, "Path to Prosperity," is largely for show, as the bipartisan budget agreement authored by Ryan, R-Wisc., and his Senate counterpart, Senate Budget Chairwoman Patty Murray, D-Wash., already set discretionary spending levels for the 2015 fiscal year. The budget agreement passed in both the Senate and the House...