Policymakers in Washington want to dramatically change America’s energy policy by regulating carbon dioxide emissions. Their most popular idea, included in the Waxman-Markey 2009 energy bill, is a cap and trade proposal. Many Americans find the debate in Washington over adopting a cap-and-trade program to reduce carbon dioxide a bit confusing. It works like this: Policymakers set a cap on the amount of carbon dioxide and other greenhouse gases that can be omitted into the atmosphere. Each power plant, factory, refinery, and other regulated entity will be allocated allowances (rights …
[youtube]http://www.youtube.com/watch?v=Z74Akf1WUbU[/youtube]
Derrell Bradford of Excellent Education for Everyone highlights a disturbing finding from the New Jersey Department of Education at NJ.com—a majority of NJ students who failed the high school exit exam (described by state education commission as “middle school level”) had apparently taken and passed courses in Geometry, Algebra I and II, and Biology. This is evidence of rampant social promotion: We have argued that New Jersey has two education systems. One you attend if you are white and live in an affluent suburb, and one you attend if you …
Maybe the title should be: Are you smarter than Congress? Either way, all signs point to yes. Milton Friedman offers some very good and relevant advice in his interview with a 5th grader from 2003. [youtube]http://www.youtube.com/watch?v=MKke98eAfcQ[/youtube]
At the end of last night’s press conference President Barack Obama insisted: But I want to disabuse people of this notion that somehow we enjoy, you know, meddling in the private sector. … I’m always amused when I hear these, you know, criticisms of “Oh, you know, Obama wants to grow government.” No. I would love a nice, lean portfolio to deal with, but that’s not the hand that’s been dealt us. But if the Obama is so eager to get General Motors and Chrysler out of his portfolio, then …
Chrysler is declaring bankruptcy. The step that was once declared “off the table” is now a reality. And that’s good news. The bankruptcy process provides the long-troubled automaker with the means necessary to reduce restructure itself into a viable enterprise. It’s also good news that Chrysler will have private-sector help in this task, in the form of an alliance with Fiat, which is expected to not only provide technological aid for Chrysler, but take a leading operational role – up to and including selection of a new CEO. The move …
A Wall Street Journal headline today adds to a chorus of claims that China’s stimulus efforts are benefiting American business and the world economy. As with previous claims, however, there’s little substance. The WSJ article cites Caterpillar reporting China sales of excavators have returned to pre-crisis highs, concurrent with intensifying Chinese government spending on rail and roads. So far, so good. Goodyear, though, merely sees promising signs for tire sales. Yum Brands — known for KFC and Pizza Hut restaurants among others — is continuing its rapid expansion in the …
From CNNMoney: “Chrysler LLC will file for Chapter 11 bankruptcy protection in a New York court Thursday senior Obama administration officials said, kicking off what the administration predicts will be a 30- to 60-day restructuring for the third-largest U.S. auto maker. The U.S. government will provide up to an additional $8 billion in aid, including up to $3.5 billion in so-called debtor-in-possession financing, to ensure Chrysler survives the historic reorganization process and finalizes a partnership with Italian auto maker Fiat SpA (FIATY).
We highlighted the Associated Press’ FACT CHECK on President Barack Obama’s deficit cutting claims this morning, but that was not the only area where Obama stretched the truth. On jobs: OBAMA: “We began by passing a Recovery Act that has already saved or created over 150,000 jobs.” – from news conference. THE FACTS: This assertion is dubious on several levels. For starters, the U.S. has lost more than 1.2 million jobs since Obama took office, according to the Bureau of Labor Statistics. Even if Obama’s stimulus bill saved or created …
Sen. Kit Bond (R-MO), ranking member of the Senate’s new Green Jobs and the New Economy subcommittee, released a report Monday titled Yellow light on Green Jobs, taking on the “green jobs” claims of groups like the New Apollo Program and the Center for American Progress’ Green Recovery. The whole 44 pages are worth your time, but here are some highlights. On existing levels of renewable power subsidies: In 2007, according to the U.S. Energy Information Administration the federal government subsidized the renewable energy with $4.0 billion in tax benefits. …
