Very brief descriptions, with appropriate links, of current or recent news items.
A cautionary tale: Adventures in federal budget cutting.
The experience has been difficult and has caused me some personal problems. I am afraid this will be the case for anyone who tries to cut spending — in the face of an entrenched bureaucracy that thrives on ever-increasing budgets.
Gotta have your KGB: Homeland Security accused of witness tampering, political manipulation of FOIA requests, and the attempted theft of Congressional committee documents.
So this is why they lobbied for the crappy bill: AARP’s billion dollar Obamacare windfall.
Almost half of the $500 billion in ObamaCare’s Medicare cuts come out of Medicare Advantage. The cuts don’t kill the program, but they mortally wound it. CBO estimates that the Medicare Advantage program will be cut in half, causing over 7 million seniors to lose their health care coverage. They will be forced to return to traditional Medicare and, in most cases, will need to purchase Medi-Gap coverage.
Using very conservative assumptions (AARP keeps its current share of the Medi-Gap market and premiums don’t rise), this increase in the Medi-Gap market will generate more than $100 million a year in additional license fee revenue for AARP. Over a billion dollars every decade. Keep in mind, this revenue is simply for using AARP’s name, so it is almost pure profit.
Dreamliner: a nightmare for Boeing.
Now CNN reports a deal in Congress calling for $73 billion in cuts for this year.
Once again, though these amounts are minuscule, I like the political trend, which is blowing increasingly in the direction of cuts, and cuts only.
Got $4.5 million? A new private commercial jet flew at 489 mph on a test flight March 11.
Ancient books uncovered in Jordan may date from the start of Christianity. Then again, they may be forgeries.
The books are currently the subject of a dispute between authorities, archeologists and an Israeli Bedouin who smuggled the books into Israel and hid them, claiming they were found by his great-grandfather, The Telegraph reports. Authorities in Jordan want the books returned, since under Jordanian law, they are property of the Kingdom of Jordan, according to the news release. Archeologists in Israel claim the books are forgeries, while British archeologists are committed to saving and studying the ancient scrolls.
The reckoning is about to arrive: The federal treasury is down to $58.6 billion in cash with only $130.5 billion in borrowing authority.
Meanwhile former Democratic operative George Stephanopoulos reports that a tentative deal between the parties in Congress will finalize the cuts from last year’s budget at $33 billion.
As I said, the reckoning is about to arrive.
A quick summary of the legal situation in Wisconsin.
What does this tell us about the intellectual bankruptcy and political leanings of these academics: The University of La Plata in Argentina is giving Hugo Chavez a journalism award.
Maybe it’s because the leftwing Chavez likes to shut down opposition news organizations.
