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Keyword: spending

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  • 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 …"...