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Keyword: stimulus

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  • CBO Repeatedly Confounded Liberals, Vindicated Conservatives in February

    03/06/2014 2:41:00 PM PST · by Kaslin · 4 replies ^ | March 6, 2014 | Akash Chougule
    February was not kind to supporters of the liberal agenda. In the span of four weeks, the nonpartisan Congressional Budget Office (CBO) released four separate reports, each concluding that misguided big government policies are hurting American businesses and families. CBO first reported in early February that President Obama’s healthcare law will drive millions out of full time work and push our ballooning national debt to $27 trillion dollars. A second report released by the CBO concluded that a mandated hike in the minimum wage to $10.10 would kill 500,000 jobs, mostly for low-wage workers. And a third report suggested that...
  • Boxer: ‘Absolutely No Way We’re Going to Cut Spending’

    03/03/2014 10:16:30 AM PST · by Olog-hai · 28 replies
    Cybercast News Service ^ | March 3, 2014 - 11:23 AM | Eric Scheiner
    While discussing federal spending and transportation funding, Sen. Barbara Boxer (D-Calif.) said “there is absolutely no way we’re going to cut spending.” Boxer was discussing the Highway Trust Fund with members of the American Association of State Highway and Transportation Officials (AASHTO) in Washington on Feb. 26th, when she addressed various tax increases that may be used to raise money for the program. “I don’t see support for raising the gas tax and there is absolutely no way we’re going to cut spending, so it’s going to have to be a creative way to fund this in reality,” Boxer said....
  • Obama Must Go

    03/03/2014 2:26:06 AM PST · by servo1969 · 74 replies ^ | 3-3-2014 | John Ransom
    As Obama moves from one disaster to the next disaster, it’s clear that he’s lacking the support from citizens here at home, is viewed skeptically by people abroad, and lacks the respect from foreign leaders that the Great Seal of the United States should confer on any president. “A CBS News/ New York Times poll out tonight find only 40% of Americans are satisfied with the presidency of Barack Obama,” reported CBS News last week. “59% say they're disappointed.” Only 59 percent? What’s wrong with these people? Obama’s been beaten on Syria, Iraq, Afghanistan, Libya, and now in Ukraine. He’s...
  • Amid military cuts, Obama urges $300B for roads and railways

    02/26/2014 2:46:38 PM PST · by SkyPilot · 34 replies
    Fox News and AP ^ | 26 Feb 14 | AP staff
    Just two days after the Pentagon outlined major cuts to the U.S. Army and other military programs, President Obama is calling for a whopping $300 billion commitment for America's roads, bridges and mass transit systems -- though as much as half comes from a tax plan that has bleak prospects on the Hill. The president talked about the stimulus-style plan during a stop Wednesday afternoon in St. Paul, Minn. Officials say the money, as proposed, largely would come from "pro-growth business tax reform." But aside from the challenges in pushing tax reform, Obama could have a hard time making the...
  • 2011 Flashback - Community Reinvestment Act: Separating Fact From Fiction

    02/23/2014 4:39:41 PM PST · by Son House · 13 replies
    IBD Editorials ^ | 03/29/2011 | Staff
    FACT: The toothless 1977 regulations fully expired in July 1997, when President Clinton rewrote them to toughen CRA enforcement as part of a crusade to close the "mortgage gap" between blacks and whites. For the first time, banks were required to show results. One of the five performance criteria in the "lending test" — the most heavily weighted component of the CRA exam — was adopting "flexible lending practices" to address the credit needs of poor borrowers in "predominantly minority neighborhoods." Banks that didn't bend their underwriting rules risked flunking the exam. Ex-Federal Reserve Board Gov. Lawrence Lindsey, a staunch...
  • NY Times: The Stimulus worked! (Almost verbatim White House talking points)

    02/23/2014 11:37:10 AM PST · by SeekAndFind · 35 replies
    American Thinker ^ | 02/22/2014 | Rick Moran
    Here's an editorial in the New York Times about the beneficial effects of the $832 billion stimulus bill passed in 2009 that could have been written in the White House: Of all the myths and falsehoods that Republicans have spread about President Obama, the most pernicious and long-lasting is that the $832 billion stimulus package did not work. Since 2009, Republican lawmakers have inextricably linked the words "failed" and "stimulus," and last week, five years after passage of the Recovery Act, they dusted off their old playbook again."The 'stimulus' has turned out to be a classic case of big promises...
  • Why You've Never Heard of the GReat Depression of 1920-21

    02/23/2014 9:46:03 AM PST · by Attention Surplus Disorder · 31 replies
    The Mises Institute ^ | 4/4/2009 | Thomas Woods
    Very interesting presentation by Thomas Woods, discussing the GD of 1920-1921, the depression nobody ever talks about. Well worth watching, :41, only a couple of slow spots, otherwise entertaining. It is never talked about because the US economy rapidly came out of it with NO federal stimulus; indeed, the Fed lowered taxes and decreased spending during this period. Instead, Warren G. Harding was universally ridiculed for his clumsy speeches; examples of which are given and which sound entirely sensible. Virtually all historians castigate Harding because he was allegedly slow and stodgy, and during the latter half of his term, the...
  • Senate's Generational Theft Act roll call vote; Where was Cornyn? (2009 skipped cloture vote)

    02/19/2014 5:18:16 AM PST · by jimbo123 · 1 replies
    Michelle Malkin ^ | 2/9/2009 | Michelle Malkin
    Here it is, for posterity. Trying to find out why Sen. John Cornyn did not vote: Triumph of the Turncoat Caucus. *** I’ve just e-mailed Sen. Cornyn’s office and asked why he missed the vote. Heard from a NYC conservative that Cornyn is there now speaking to the Republican “Monday Meeting” group — made up of wealthy GOP donors. Bizarre display of priorities. Several Washington Hill folks note, of course, that the number of no votes isn’t important on cloture votes. But it matters to many of Sen. Cornyn’s tax-paying constituents, who have e-mailed wondering where he was.
  • Total Lawlessness, a Disastrous Economy, and CBS Asks Obama About ... What He's Watching on TV

    RUSH: This is CBS this morning and the co-respondent is Bill Plante. We had the fifth anniversary of the stimulus yesterday. We're in the midst of an absolutely devastated United States economy. There is no end in sight. We are also in the midst of the total wrecking of the American healthcare system. We are in the process of tearing it apart and rebuilding it all under government control eventually. No matter where you look, the jobs market, the economy, any Obama policy, no matter where you look, there is utter disaster. In fact, polling data out there, Washington Examiner,...
  • Five years later, White House and critics fight over stimulus law

    02/17/2014 6:21:15 PM PST · by BenLurkin · 4 replies
    LAT ^ | February 17, 2014, 2:20 p.m. | David Lauter
    As told by Democrats, the stimulus law is a tale of officials using government effectively to shield families from a severe economic crisis triggered by inadequately regulated speculation. In that accounting, the law is a prime example of how a strong central government can help the average person. To Republicans, by contrast, the law provides proof that government spending does little other than to burden future generations with debt. Given the continued weakness in the economy, Republicans have the simpler case to make: Good times have not yet returned, therefore, Obama’s policies have failed. Florida Sen. Marco Rubio demonstrated the...

    02/17/2014 2:20:21 PM PST · by jimbo123 · 10 replies
    Breitbart Texas ^ | 2/17/14 | MICHAEL QUINN SULLIVAN
    In the heat of a re-election campaign, U.S. Sen. John Cornyn’s press office issued a strong statement today condemning the 5-year anniversary of President Obama signing the Democrat-led stimulus package into law. Yet Cornyn was one of two senators — both Republicans — who were absent when the measure first went before the Senate in 2009. “Five years later, our economy is still sluggish, Americans are dropping out of the workforce by the thousands, and the President’s latest big government experiment, Obamacare, is now on track to slash 2 million more jobs from the workforce,” wrote Cornyn about the American...
  • Silence (So Far) from Democrats on Stimulus Anniversary

    02/17/2014 1:27:00 PM PST · by Libloather · 11 replies
    NBC News ^ | 2/17/14 | Mark Murray
    When the $787 billion federal stimulus was signed into law exactly five years ago this Monday, the U.S. economy was losing almost 800,000 jobs per month. Now? More than 4.2 million jobs have been added since March 2009. Also at this time five years ago, the unemployment rate was 8.3% and would climb to a high of 10.0% just months later. Now it stands at 6.6%. But on this fifth anniversary of the stimulus – passed mostly along party lines in response to financial crisis and Great Recession – Democrats and the White House have responded so far with …...
  • 5 Years After Stimulus, Obama Says It Worked(libs at Time waking up)

    02/17/2014 11:20:16 AM PST · by gooblah · 18 replies
    Time Swampland ^ | Michael Grunwald
    Five years ago Monday, President Barack Obama visited the Denver Museum of Nature and Science to sign the American Recovery and Reinvestment Act, his $800 billion stimulus bill. At the time, the U.S. economy was losing 800,000 jobs a month. In the fourth quarter of 2008, it had contracted at an 8% annual rate, a Depression-level free fall. “Today does not mark the end of our economic problems,” Obama said on Feb. 17, 2009. “But it does mark the beginning of the end.” And so it did. The stimulus quickly became a national joke, mocked by the right as a...
  • Where was Cornyn? (2009 Stimulus Cloture Vote Flashback)

    02/17/2014 6:27:52 AM PST · by jimbo123 · 13 replies
    Politico ^ | 2/9/2009 | Glenn Thrush
    Texas Republican Sen. Jon Cornyn -- head of the GOP's Senatorial committee -- has been an outspoken critic of Democratic stimulus efforts, but he chose to skip tonight's cloture vote on the package without offering a detailed explanation. Cornyn was the only no-show -- except for Commerce Secretary nominee Judd Gregg, who recused himself. So where was Cornyn? "He had a long standing commitment and since it was cloture vote and no vote is like a "no" vote, he stuck to it," wrote spokesman Kevin McLaughlin in an E-Mail to Politico. "Obviously [he] is against [it] and will vote no...
  • Five Years After Stimulus: 1,268 Cases of Fraud

    02/16/2014 8:44:06 PM PST · by Nachum · 10 replies
    The Gateway Pundit ^ | 2/16/14 | Jim Hoft
    Posted by Jim Hoft on Sunday, February 16, 2014, 10:38 PM     In November 2010, Vice President Joe Biden said fraud and abuse of the stimulus bill had been kept “to a surprisingly low level.” This came a year after Barack Obama bestowed VP Joe Biden with the title of the stimulus “sheriff.” Barack Obama signs the failed stimulus into law in 2009.Fast forward five years – Investigators have proven 1,268 cases of fraud in the $840 billion stimulus program.USA Today reported: Despite thousands of fraud cases, the financial losses under the 2009 Recovery Act have been just...
  • Stimulus Worked as Intended! (Guest Post)

    02/16/2014 11:17:40 AM PST · by Starman417 · 7 replies
    Flopping Aces ^ | 02-16-14 | Blowhard
    The other night I attended a Republican meeting in Alexandria, Virginia, a suburb of Washington D.C. A candidate for Senator was speaking and I wanted to hear what he had to say. His name is Ed Gillespie and he has been a volunteer and elected leader in the Republican party for 30 years. I won't bore you with his party platform policies or a description of his well polished demeanor and dress. Let me just assure you he looked and sounded the part. But he said something that made me question him and the Republican party. He alluded to Obama...
  • Five Years Later: How's that Wreckovery Working Out?

    02/14/2014 4:33:06 AM PST · by Kaslin · 14 replies ^ | February 14, 2014 | Michelle Malkin
    On Feb. 17, 2009, President Obama promised the sun and the moon and the stars. That was the day, five years ago, when he signed the $800 billion "American Recovery and Reinvestment Act." President Modesty called it "the most sweeping economic recovery package in our history." He promised "unprecedented transparency and accountability." He claimed the spending would lift "two million Americans from poverty." Ready for the reality smackdown? The actual cost of the $800 billion pork-laden stimulus has ballooned to nearly $2 trillion. At the time of the law's signing, the unemployment rate hovered near 8 percent. Obama's egghead economists...
  • Biden's Third World Country

    02/11/2014 1:36:47 PM PST · by Kaslin · 8 replies ^ | February 11, 2014 | Scottie Hughes
    Last week, our nation’s genius Vice President Joe Biden offered a statement which alienated some of his most loyal fans. “If I blindfolded someone and took them at 2:00 in the morning into the airport in Hong Kong and said ‘where do you think you are,’ they’d say, ‘this must be America, it’s a modern airport,’” Biden said during a speech on infrastructure in Philadelphia. Mr. Biden had a point, though not for the reason he thinks. The Vice President believes that the Government is not spending enough money on infrastructure projects like airports, bridges and highways. If that is...
  • Joe Biden: Infrastructure, Not Personal Freedom, is Behind America’s Economic Dominance

    02/07/2014 6:17:54 AM PST · by SoFloFreeper · 16 replies
    PJ Media ^ | 2/6/14
    ...Biden also had this to say on the subject of why America has the world’s largest economy. “No, I’m not joking!” he added. “Why did we lead the world economically for so long? We had the most modern infrastructure in the world.” Biden implies that we no longer lead the world economically, which isn’t true. It’s not even close to true. The US economy is still the world’s largest by far, nearly double the size of China’s economy and more than three times third-place Japan’s. Several US states, including California, Texas and New York, would rank above most national economies...
  • Bernanke Leaves Fed with Record Balance Sheet of $4,102,138,000,000

    02/01/2014 2:01:10 AM PST · by Olog-hai · 17 replies
    Cybercast News Service ^ | January 31, 2014 - 4:21 PM | Ali Meyer
    Retiring Federal Reserve Chairman Ben Bernanke, who was replaced by Janet Yellen as of today, is leaving the Federal Reserve with an unprecedented $4,102,138,000,000 in total assets on its balance sheet, up 391 percent from the $834,663,000,000 in total assets the Fed showed on its balance sheet when Bernanke took over as chairman in February 2006. Much of the increase in the Fed’s assets has come in the form of U.S. Treasury securities and Freddie Mac and Fannie Mae mortgage-backed securities that the Fed purchased over the last five years in its attempts to stimulate the economy. …
  • Obama's Stimulus Money-Laundering Scam

    01/15/2014 2:04:57 PM PST · by Nachum · 8 replies ^ | 1/15/14 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: Newport Beach in California. Steve, I'm glad you called, sir. Great to have you on the EIB Network. Hello. CALLER: Rush, good to be here, love listening to your show, and again your comments this morning regarding the unions and the -- RUSH: Money laundering. CALLER: Exactly. That's the term I was looking for, the money laundering. It's exactly what's going on out here in California with the bullet train. The politicians in California, all the Democrats have given all of the public employee unions their payback, but they've got a problem. All of the private sector...
  • Liberal Economic Mythology on Unemployment Benefits

    01/10/2014 9:56:47 AM PST · by Kaslin · 4 replies ^ | January 10, 2014 | David Limbaugh
    How can we ever expect America's younger generations to preserve America's greatness when the president of this nation keeps preaching damaging economic myths and misguided moral lessons? It's one thing for our elected representatives to express compassion for those facing difficult financial circumstances. It's another for them to elevate the receipt of unemployment benefits and other forms of government dependency programs to a virtue. And it's yet another for them to justify these wrongheaded policies with false claims that they actually improve conditions when they make them worse. President Obama's policies of expanding the government and his practice of punishing...
  • Dow, S&P end at record highs after Fed's stimulus cut

    12/18/2013 1:16:37 PM PST · by NormsRevenge · 36 replies
    Yahoo Finance ^ | 12/18/13 | Angela Moon - Reuters
    NEW YORK (Reuters) - The Dow and the S&P 500 closed at all-time highs on Wednesday after the Federal Reserve announced a small reduction in its stimulus program, confirming that the U.S. economy was on firm footing.
  • Americans Don't Buy Obama's Talk Of Economic 'Recovery'

    12/06/2013 5:44:46 AM PST · by raptor22 · 16 replies
    Washington Examiner ^ | December | Staff
    President Obama regularly touts what he calls the “economic recovery” supposedly prompted by his policies, including the creation of 7.5 million jobs, consistent growth for more than three years and revitalization of the domestic auto industry. He recently told ABC’s “This Week” host George Stephanopoulos, for example, that during the Great Recession of 2008, “we came in, stabilized the situation. The banking system works. It is giving loans to companies who can get credit. And so we have seen, I think undoubtedly, progress across the board.” It’s an upbeat talking point for the president, but the problem is most Americans...
  • Obama Administration Urges More Unemployment

    11/18/2013 6:16:18 AM PST · by Kaslin · 9 replies ^ | November 18, 2013 | Daniel J. Mitchell
    President Obama has presided over a terrible jobs market. Unemployment is more than two-percentage points higher today than the White House claimed it would be if the so-called stimulus was enacted. Even more worrisome, the employment-population ratio seems to have permanently fallen, which is bad news for economic performance since our output is a function of how much capital and labor is being productively utilized. So what’s the response from the Obama Administration? Well, they want to further subsidize people for not working. I’m not joking. Here’s some of what has been reported by the Huffington Post. The Obama administration...
  • Barack Obama and the Myth of the Unforced Error

    11/01/2013 2:20:40 PM PDT · by jfd1776 · 3 replies
    Illinois Review ^ | November 1, 2013 A.D. | John F. Di Leo
    Many believe that the current administration – or perhaps more broadly, the current Democratic regime, by the triumvirate Obama, Pelosi, and Reid since the 2006 elections – will be remembered and condemned for its “unforced errors”… that is, for the unnecessary mistakes it has made, through mishandling programs and clumsily creating needless trouble by misreading economic cause-and-effect or societal trends. But were they truly errors at all? Were they mistakes? Much of the damage done by this administration has in fact been intentional – either out of some arrogant belief that “we elites know better than you do” or out...
  • Bankrupt solar panel firm took stimulus money, left a toxic mess, says report

    10/30/2013 3:07:52 PM PDT · by lowbridge · 26 replies ^ | October 30, 2013
    A Colorado-based solar company that got hundreds of millions of dollars in federal loan guarantees before going belly-up didn't just empty taxpayers' wallets - it left behind a toxic mess of carcinogens, broken glass and contaminated water, according to a new report. The Abound Solar plant, which got $400 million in federal loan guarantees in 2010, when the Obama administration sought to use stimulus funds to promote green energy, filed for bankruptcy two years later. Now its Longmont, Colo., facility sits unoccupied, its 37,000 square feet littered with hazardous waste, broken glass and contaminated water. The Northern Colorado Business Report...
  • Fed maintains strong stimulus as U.S. growth stumbles

    10/30/2013 11:37:27 AM PDT · by NormsRevenge · 41 replies
    Yahoo! News ^ | 10/30/13 | Pedro da Costa and Alister Bull - Reuters
    WASHINGTON (Reuters) - The Federal Reserve extended its support for a slowing U.S. economy on Wednesday, sounding a bit less optimistic about growth and saying it will keep buying $85 billion in bonds per month for the time being. In announcing the widely expected decision, Fed officials nodded to weaker economic prospects due in part to a fiscal fight in Washington that shuttered much of the government for 16 days earlier this month. The Fed indicated the recovery in housing had lost some steam, while noting some reversal in a recent spike in borrowing costs. "Available data suggest that household...
  • Arthur Laffer: cuts succeeded where stimulus failed - Austerity Works

    10/25/2013 3:02:03 AM PDT · by Cincinatus' Wife · 10 replies
    The Spectator UK ^ | October 26, 2013 | Arthur Laffer
    America has shown that stimulus is pointless — how can a poor person spend himself to prosperity? All the drama coming out of Washington in the last few weeks has obscured some seriously good news: federal government spending is falling. And not at a trickle: think the White Cliffs of Dover. Not since the economic boom following 1945 have Americans seen such a rapid decline in the government’s claim on the nation’s resources — falling by a welcome $94 billion over two years. You need to go back to the end of the Korean war to find a time when...
  • Study Shows Limbaugh Plan Would Have Worked Better Than Obama's Stimulus

    10/23/2013 12:32:23 PM PDT · by Kaslin · 1 replies
    Rush ^ | October 23, 2013 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: Last night on Breitbart this came in over the transom. Try this headline: "Experts Conclude: Limbaugh Plan Better than Obama's Stimulus." And I said, "My gosh, who remembers that? That's five years ago." And Joel Pollak writing in Breitbart: "In 2009, at the height of debate about President Barack Obama's stimulus plan, conservative radio host Rush Limbaugh proposed a compromise in the pages of the Wall Street Journal that would have devoted half the stimulus to tax cuts. Now, a new working paper by the National Bureau of Economic Research (NBER) concludes that Limbaugh was right, at...
  • Anxiety as stimulus hike in food stamps set to end

    10/10/2013 8:07:14 AM PDT · by DJ MacWoW · 95 replies
    Associated Press ^ | Oct 10, 2013 6:21 AM (ET) | RIK STEVENS
    CONCORD, N.H. (AP) - A temporary increase in food stamps expires Oct. 31, meaning for millions of Americans, the benefits that help put food on the table won't stretch as far as they have for the past four years. Food stamps - actually the Supplemental Nutrition Assistance Program - go to 47 million Americans a month, almost half of them children and teenagers.
  • Not Even Fisker's Fire Sale Can Dampen DOE Enthusiasm for 'Investments'

    09/19/2013 3:02:43 PM PDT · by jazusamo · 6 replies
    NLPC ^ | September 19, 2013 | Paul Chesser
    After the Department of Energy announced this week ithad given up on not-bankrupt-but-should-be Fisker Automotive, and will auction off its loan for a pittance, you’d think (and hope) Congress would have had enough of this kind of thing. Senator John Thune certainly has. “The Obama administration has gotten into the business of picking winners and losers at a significant cost to taxpayers,” said the South Dakota Republican yesterday. “I’m calling for the Senate to consider my amendment to eliminate the wasteful ATVM loan program and for my colleagues to join me in protecting taxpayer dollars from any future risky green...
  • Fed: No taper

    09/18/2013 11:13:08 AM PDT · by Hojczyk · 95 replies
    CNBC ^ | September 18, 2013 | Jeff Cox
    <p>An economy still stumbling toward recovery was not enough to sway the Federal Reserve, which defied market expectations Wednesday and said it will not begin pulling back on its monthly asset-purchasing program. Stocks surged on the news but bond yields were flat.</p>
  • Grace Hill asked to return federal funds [stimulus] targeted to reduce pollution

    09/04/2013 4:04:29 PM PDT · by kevcol · 4 replies
    St. Louis Post-Dispatch ^ | Sept 4, 2013 | Nancy Cambria
    Should a St. Louis nonprofit agency that helps the poor have any business in rebuilding the diesel engine of an old Mississippi River tugboat named the Bryant T? That’s essentially the question raised in a recent federal audit of a Grace Hill Settlement House program to retrofit diesel engines and reduce pollutants from delivery trucks, school buses, fire engines and even two old tugboats in St. Louis. The audit recommended the agency return more than $1.4 million to the Environmental Protection Agency.
  • Detroit Teachers Moonlight As ‘Sugar Babies’ (i.e., Paid Escorts) To Offset Wage Cuts

    08/28/2013 7:55:18 PM PDT · by DogByte6RER · 44 replies
    CBS Detroit ^ | August 28, 2013 | CBS Detroit
    Detroit Teachers Moonlight As ‘Sugar Babies’ To Offset Wage Cuts DETROIT (WWJ) - It’s back-to-school season and many Detroit teachers are struggling in the wake of budget cuts and overcrowded classrooms. According to the National School Supply and Equipment Association, the average teacher spent at least $485 on school supplies for their classroom last year. So, what are some Detroit women doing to offset their struggles in the classroom? Well, they’re becoming “sugar babies” of course — seeking financial assistance from wealthy men online. In the Detroit School District alone, 201 teachers are moonlighting as sugar babies to offset wage...
  • Obama Administration: Its Incompetence Is Historic

    08/28/2013 9:31:59 AM PDT · by 2ndDivisionVet · 30 replies
    RealClearPolitics ^ | August 27, 2013 | Michael Barone
    Evidence of the astonishing incompetence of the Obama administration continues to roll in. It started with the stimulus package. One-third of the money went to public employee union members -- a political payoff not very stimulating to anyone else. Billions went to green energy loans, like the $500 million that the government lost in backing the obviously hapless Solyndra. Infrastructure projects, which the president continues to tout, never seem to get built. He's been talking about dredging the port of Charleston, for example, to accommodate the big container ships coming in when the Panama Canal is widened. The canal widening...
  • Beginning of the End? (Like it or not, QE is coming to an end)

    08/20/2013 6:30:31 AM PDT · by SeekAndFind · 27 replies
    Alhambra Investment Partners ^ | 08/20/2013 | Joe Calhoun
    The stock market pulled back last week and we are now in the midst of a mild correction, down all of 3% from the all time highs set just a couple of weeks ago. It has been an extremely orderly retreat so far with the volatility index barely budging from its recent lows. The natural question is whether this is the start of a bigger correction, the start of a bear market or merely another buying opportunity in a bull run that is getting long in the tooth by historic standards. There were 33 bull markets from 1900 to the...
  • U.S. puts non-performing $50 million green-tech loan up for auction

    08/15/2013 4:51:39 PM PDT · by Oldeconomybuyer · 3 replies
    Reuters ^ | August 15, 2013 | By Deepa Seetharaman
    The U.S. Department of Energy will put up for auction this week a $50 million loan awarded to the now-closed Vehicle Production Group LLC, an unusual move by the DOE that may give U.S. taxpayers a chance to recoup a portion of their investment. The auction may also mark a path for the government to offload non-performing loans made to other troubled, taxpayer-backed companies, including hybrid sports car maker Fisker Automotive, which owes the DOE $192 million and has so far failed to secure a buyer. "I just don't see a great argument for making the bid and resurrecting either...
  • Taxpayer Millions Squandered on EV Charging Study Project

    07/30/2013 10:13:10 AM PDT · by jazusamo · 8 replies
    NLPC ^ | July 30, 2013 | Paul Chesser
    An audit by theDepartment of Energy’s Inspector General found that the persistent weak demand for electric vehicles harmed the deployment and timeliness of a $135 million-plus taxpayer funded charging network, which spun a cycle of excessive grants and project expansion, that led to an enormous waste of public money. The investigators, led by IG Gregory Friedman, determined that conditions for reimbursement to Ecotality, Inc. (and its subsidiaries) for the EV charging demonstration project were “very generous,” although not explicitly prohibited under federal regulations. “While we acknowledge that the Department had maintained and archived award documentation, an independent reviewer cannot understand...
  • Bottomless Subsidies Needed to Keep DOE Electric Truck Project Alive

    07/08/2013 8:29:26 AM PDT · by jazusamo
    NLPC ^ | July 8, 2013 | Paul Chesser
    Despite little news over the past nine months since its last-minute abandonment of an initial public offering that was supposed to raise $76 million in cash, stimulus recipient Smith Electric Vehicles is showing little evidence it can inspire demand for its commercial trucks, like its plug-in car counterparts. Smith’s selling point for its step vans was that, unlike electric automobiles, delivery routes in urban areas did not require a long range between refueling (or, recharging). Frequent stops and short distances alleviated the “range anxiety” that accompanies cars like the Nissan Leaf. Frito-Lay, Coca-Cola and Staples were cited as early adopters...
  • Why Government Spending Does Nothing for Jobs

    06/21/2013 5:51:59 PM PDT · by neverdem · 9 replies | Jun 19, 2013 | Caroline Baum
    Here's the link.
  • More easy money’s on the way

    06/20/2013 6:41:28 AM PDT · by SeekAndFind
    New York Post ^ | 06/20/2013 | Charles Gasparino
    The big story yesterday was supposed to be Ben Bernanke’s signal to the markets about future Fed policy — whether he’ll scale it back, or just go on printing money to keep interest rates super-low and inflate the economy. But that’s basically a false drama, fueled largely by jittery traders who know their life blood could be in danger when the Fed finally starts to raise rates and roll backits “quantitative easing” program of buying massive amounts of bonds to infuse the economy and the markets with cash. No, the real story is that Bernanke — and whoever replaces him...
  • It’s For the Kids… Obama’s “Mother of All Databases” Includes Information On Your Children

    06/14/2013 3:16:13 PM PDT · by 2ndDivisionVet · 16 replies
    Gateway Pundit ^ | June 14, 2013 | Jim Hoft
    This ought to make your day. Barack Obama’s massive “mother of all databases” includes information on your children.Barack Obama reads a book about himself to a group of children ages 3 to 5 back in 2011. (USA Today) Tea Party Nation reported: Speaking of databases, there’s one out there that’s more than a little bit disturbing. It’s but one more devious plan created by none other than Barack Hussein Obama to store personal information on our children. No wonder Maxine Waters spouted off that Obama’s database knew everything about everybody – this is one of the few times that Maxine...
  • Shades of Solyndra: Energy Dept. risks taxpayer cash in project tied to Obama donor

    06/13/2013 10:49:05 AM PDT · by jazusamo · 2 replies
    The Washington Times ^ | June 13, 2013 | Edward Felker - Washington Guardian
    The Energy Department helped a struggling government-backed clean coal power plant in California secure a new owner in a donor to President Barack Obama and agreed to revised terms that raised the risk of taxpayer losses, government investigators have found. The Department's Office of Inspector General said that officials helped keep Hydrogen Energy California afloat after its initial backers moved to terminate their DOE contract in the face of fading commercial prospects. The project was acquired by Massachusetts-based SCS Energy, headed by Democratic donor James Croyle, in 2011. He gave $2,300 to President Barack Obama’s 2008 campaign and $31,400 to...
  • US STOCKS-Wall St falls on lingering worry over stimulus cuts

    06/12/2013 1:07:59 PM PDT · by Signalman · 6 replies
    CNBC ^ | 6/12/2013 | Rodrigo Campos
    * VIX up over 8 pct as anxiety rises over central banks' policies * S&P consumer and financial sectors lead the decline * Dow off 0.8 pct; S&P 500 down 0.8 pct; Nasdaq off 1.1 pct NEW YORK, June 12 (Reuters) - U.S. stocks fell on Wednesday, with the Dow tumbling more than 100 points on a wildly volatile day as traders extended a selloff driven by concern about the winding down of central banks' stimulus measures. The S&P 500 was caught between support near its 50-day moving average and resistance at the 14-day moving average. The S&P 500 has...
  • Bay Area Rapid Transit Official Earns $330K Without Working

    06/09/2013 1:58:36 PM PDT · by DogByte6RER · 27 replies
    Bay Area News Group ^ | 06/09/2013 | Thomas Peele and Daniel J. Willis
    BART's top-paid worker of 2012 never worked a day With a gross salary of more than $333,000, BART's highest-paid employee last year wasn't its general manager, police chief or a worker who racked up gobs of overtime scrubbing grime from filthy train seats. It was someone who did no work at all for BART in 2012: Dorothy Dugger, the agency's former general manager who resigned under pressure more than two years ago. Under a lucrative retirement scheme, Dugger, 57, quietly stayed on the books, burning off nearly 80 weeks of unused vacation time, drawing paychecks and full benefits for more...
  • 56% Of Carmakers Who Asked For Government 'Green' Loans Are Dead

    06/06/2013 4:06:17 PM PDT · by 2ndDivisionVet · 15 replies
    Jalopnik ^ | June 3, 2013 | Patrick George
    What do Carbon Motors' BMW-powered police car, Aptera Motors' electric three wheeler, and Fisker's luxury sedan have in common? Two things: they asked the government for loans, and they're dead, as are more than half of the car companies who sought loans, according to documents obtained via a Freedom of Information Act request by Jalopnik. Of the 18 existing or would-be carmakers we identified as having applied for loans under the U.S. Department of Energy's Advanced Technology Vehicle Manufacturing program, 10 have since faded into bankruptcy or ceased operations. Numerous car companies, startups and parts manufacturers have applied for the...
  • Washington Bridge Collapses Despite Stimulus

    05/27/2013 2:12:28 AM PDT · by swampthang77 · 21 replies
    USBC News ^ | 13,05,26 | USBC News Wire
    ...It is unclear why the bridge was allowed to fall in a state of repair which allowed a catastrophic collapse, since the Obama administration pushed through a $787 billion economic stimulus package as one of his first acts. The stimulus was criticized by many for failing to address the underlying problems with the economy at the time, and many feared the money would have been better spent in the private sector. Titled, the “American Recovery and Reinvestment Act,” Obama touted the virtue of the act, as a way of providing “shovel ready” jobs to Americans, who were struggling during an...
  • Kerry unveils $4 billion Palestinian economic plan

    05/26/2013 3:51:06 PM PDT · by blueyon · 35 replies
    the Jerusalem Post ^ | 05/26/2013 | By TOVAH LAZAROFF
    DEAD SEA, Jordan – US Secretary of State John Kerry unveiled on Sunday a $4 billion economic plan to revitalize the Palestinian economy, as he called on Israelis and Palestinians to forgive past wrongs and return to the negotiating table. “The plan for the Palestinian economy is bigger and bolder and more ambitious than anything proposed since Oslo more than 20 years ago,” said Kerry as he spoke at the closing session of the World Economic Forum by the Dead Sea in Jordan.
  • Biden: 'I'm Proudest' of the Stimulus

    05/10/2013 4:50:35 AM PDT · by Sub-Driver · 15 replies
    Biden: 'I'm Proudest' of the Stimulus Daniel Halper May 10, 2013 7:36 AM Vice President Joe Biden says that of first term accomplishments, he's "proudest" of the stimulus. He made the comment in an interview to Rolling Stone magazine. "The thing I'm proudest of that we were able to get done in the first term was the Recovery Act," said Biden. The "Recovery Act" is also known as the stimulus. The vice president went on to say that he's particularly proud of the "clean-energy programs" that were part of the the stimulus. "It had $90 billion in clean-energy programs. We...