Month: May 2012

Using the budget balancing rules Congress imposed on private companies, the federal deficit turns out to be five times greater than the official but fake numbers Congress normally publishes.

10:11 am

The day of reckoning looms: Using the budget balancing rules Congress imposed on private companies, the annual federal deficit turns out to be five times greater than the official but fake numbers Congress normally publishes.

The big difference between the official deficit and standard accounting: Congress exempts itself from including the cost of promised retirement benefits. Yet companies, states and local governments must include retirement commitments in financial statements, as required by federal law and private boards that set accounting rules.

The deficit was $5 trillion last year under those rules. The official number was $1.3 trillion. Liabilities for Social Security, Medicare and other retirement programs rose by $3.7 trillion in 2011, according to government actuaries, but the amount was not registered on the government’s books.

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“[Christians and Jews] are inferior and smaller, more cowardly and despised.”

6:52 pm

From the Palestinian Authority: “[Christians and Jews] are inferior and smaller, more cowardly and despised.”

Two points: 1. This was read on the PA’s official television network by a a young girl as part of a children’s show. 2. Our federal government, under the Obama administration, has sent the PA hundreds of millions of dollars to fund this kind of bigotry and hate.

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Four Princeton physicists received over $1.5 million in lodging subsidies from the Department of Energy while on “temporary” assignment to other labs, even after living at that assigment for as much as 14 years.

12:00 pm

The work is good if you can get it: Four Princeton physicists received over $1.5 million in lodging subsidies from the Department of Energy while on “temporary” assignment to other labs, even after living at that assignment for as much as 14 years.

The above story, from Science, takes a more sympathic view of this misuse of government funds. The Washington Post is more blunt:

Four high-ranking federal lab workers found a way to turn “per diem” funds for a temporary assignment into a steady flow of extra income — at taxpayers’ expense. The overpayments, discovered in an inspector general’s audit, boosted the annual pay of some of the employees by as much as $64,000.

The Department of Energy paid the four scientists roughly $1.8 million for daily lodging and “inconvenience” during assignments away from home. But these scientists were paid as if they were on temporary duty for up to 14 years — long after most had permanently relocated to job sites.

The problem with this story is that it isn’t an exception but the rule. Right now the wolves are guarding the chicken house, and they are raiding it routinely for as much cash as they can get. Consider for example last week’s story about the NIH study that has spent a billion dollars without even getting off the ground.

You give someone the equivalent of a blank check, and they will make no effort to do things efficiently, or even to do what you hired them for.

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At a conference in Washington DC yesterday both Russia and Japan announced the Moon as their next primary space exploration goal.

8:35 am

The new colonial movement: At a conference in Washington DC yesterday both Russia and Japan announced the Moon as their next primary space exploration goal.

If the U.S. gets a competitive private aerospace industry going — which seems increasingly likely — I’m willing to bet those companies will get to the Moon before either of these governments.

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“If the quality of the Administration’s economic analysis hadn’t already proven to be nearly worthless the discrepancy here would be stunning.”

9:22 am

“If the quality of the Administration’s economic analysis hadn’t already proven to be nearly worthless the discrepancy here would be stunning.”

The discrepancy refers to a claim made by the Obama administration about one benefit of Obamacare, compared to the reality of what has actually happened.

It is time to repeal this disaster of a law. We should also fire the politicians who foisted it on us.

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Russia is considering ending its joint commercial program with the Ukraine and Kazakhstan to launch satellites using its Dnepr rocket.

9:08 am

Russia is considering ending its joint commercial program with the Ukraine and Kazakhstan to launch satellites using its Dnepr rocket.

There are several reasons this decision might happen. One, the Russian government under Putin might now be shifting away from capitalism after two decades of financial success. And if so, that will be to the United States’ advantage. Two, they might have decided that the Dnepr system can’t compete on the market, and it is wiser not to throw good money after bad.

Either way, the abandonment of Dnepr will be bad for Kazakhstan and the Ukraine, and suggests that when the Russians finally get their Vostochny spaceport operational, on their own soil, they will abandon Baikonur in Kazakhstan forever.

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