There has been a lot of talk in recent months on expanding the loan guarantee for energy projects broadly and nuclear projects specifically. The problem with the LG program is not the cost, per se. It is clearly set up so that the recipient has to pay for the administration costs. And as for the likelihood of default, the risk for nuclear seems almost nonexistent as compared with other renewable sources. New nuclear plants will be cranking out a valuable commodity for the better part of a century. The problem …
Since we are inundated with bad news these days, we thought we would take a seventh inning stretch and share with you some good news. Today, Major League Baseball announced their decision to finally honor Lou Gehrig by helping fight the disease that bears his name, A.L.S. (Amyotrophic Lateral Sclerosis). They will partner with four organizations including A.L.S. Therapy Development Institute; Project A.L.S.; the A.L.S. Association; and M.D.A.’s Augie’s Quest. On July 4, 2009, 15 Major League ballparks will raise money and awareness for this disease that has no cure, exactly 70 …
We don’t get to agree with George Packer everyday, so it pleases us to announce that we share his concerns about the message it sends when Cabinet officials fail to pay their taxes: The fact that two men with much combined experience in the public sector didn’t pay what they owed the government suggests that, at their lofty income level, cheating is almost universal. And for the rich to get away with underpaying taxes is every bit as much a part of the culture of selfishness and irresponsibility that Barack …
California is no longer the Golden State. Now a complete captive to public sector unions, spending has exploded by 40% over the past five years. The state perpetually runs massive budget deficits, this year’s record $40 billion deficit being only the latest. The allies of big government and big labor in Congress now want Obama’s Trillion Dollar Debt Plan to include up to $63.4 billion for Sacramento. If the Debt Plan passes, the New York Times reports that “California will most likely be a reliable indicator of the plan’s success …
The American Option Introduced by Senator Jim DeMint (R-SC), the American Option Act proposes to aggressively and immediately lower taxes on businesses and individuals. Tax cuts will create rapid growth in wages and business incomes, which in turn will significantly help struggling sectors of the economy, i.e. Smart Stimulus. Consumer and government interest rates would be 5-10% lower making it easier for businesses to borrow and families to buy a home or refinance a mortgage. Smart Stimulus creates business investment of $254 billion in new buildings, equipment and infrastructure. Smart …
This past week some in Congress complained because Bank of America, who has taken billion of taxpayer bailout funds, hosted a promotional event at the Super Bowl. At lest that event was designed to help the bank’s business grow. What Congress should really be mad about is the $2 million Bank of America gave to Acorn last year. Yeah, Acorn. The same organization that has been indicted for voter fraud many times throughout the country and continually shakes down banks for “affordable housing” funds. Just another example of Progressive Corporatism …
The more we dig, the more audacious spending we find in the Obama Trillion Dollar Debt Plan. On page page 52 of the House bill (and page 42 in the Senate bill), the Trillion Dollar Debt Plan allocates $3 billion ($1.5 billion in the Senate) to the Edward Byrne Memorial Justice Grant which is a major source for pre-trial release funding. The purpose of bail is to ensure that a defendant appears at his or her court date. The Byrne Grant program has other purposes, but it will allow more …
… which country would it be? Just so we can all wrap our heads around how big President Obama’s Trillion-Dollar Debt Plan is, this graphic compares the pre-Senate debt plan costs with the GDPs of major nations: Just think of it: The deficit-spending package passed by House Democrats already is bigger than 168 of the 180 national economies measured by the World Bank. Now, in the Senate, it threatens to break into the Top 10 by catching up with Russia (No. 11) and then Brazil (No. 10).
The more the American people learn about President Barack Obama’s Trillion Dollar Debt Plan, the more they don’t like it. According to a Gallup Poll released today, 54% of Americans either want Congress to reject Obama’s debt plan entirely, or they want major changes to it. Only 37% support the plan in its current form. A full 78% of Americans are significantly concerned that the plan will not stimulate the economy fast enough and 53% of Americans believe the plan will not have an effect at all. There is a …
Today, the White House called Tom Daschle’s failure to pay more than $100,000 in back taxes a “serious mistake”, but reiterated their support for their nominee to head the Department of Health and Human Services. Last week, White House Press Secretary Secretary Robert Gibbs also pointed out that Treasury Secretary Geithner made honest mistakes on his taxes, that “should have been avoided”. Those mistakes amounted to over $34,000. Out of little over a dozen cabinet nominations, President Obama was able to find two people who found IRS compliance optional. This …
