Tag: bankruptcy

Russian government going broke

4:54 pm

The Russian government, faced with low oil prices, a weak ruble, and a big budget, has been depleting its cash reserves and could run out of money within a year.

The government’s reserve fund is designed to cover shortfalls in the national budget at times of low oil and gas revenues.

Russia’s 2016 budget is based on the assumption the country would be able to sell its oil for $50 per barrel. But the average oil price in the first eight months of the year was less than $43 per barrel. Oil now makes up just 37% of all government revenues, compared to roughly 50% just two years ago.

When their reserve funds run out, they will then dip into another fund reserved for pensions and investment projects. Sounds familiar, doesn’t it? Kind of like the approach the big Democratically controlled U.S. cities like New York have used to continue to spend money they didn’t have.

It is interesting to compare Russia and China these days, especially considering the state of both of their space programs. Despite the fact that many say that China’s success is hollow, they have still been able to fund and build what is now a very vibrant and new manned and planetary space effort. Russia however cannot build anything new, and is now faced with reducing its ISS crew complement because it can’t afford to launch the supplies required for three people.

It will be very interesting to watch this story in Russia unfold.

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Republican leadership avoids vote on IRS head impeachment

9:56 am

More failure theater: The Congressional Republican leadership has worked out a deal that will avoid a vote on the impeachment of IRS head John Koskinen, thus protecting the Democrats from any embarrassing votes in favor of the IRS prior to the November elections.

The agreement makes it unlikely that any vote by the full House to impeach Koskinen will happen until after the November election, if at all. House Republican leadership had balked on moving forward on impeachment proceedings during an election season, arguing that an impeachment vote risked irritating voters. Others said Koskinen deserved a full House Judiciary Committee probe before embarking on the seldom-used impeachment process.

And the Republican leadership wonders why they are now stuck with outsider Donald Trump as their presidential candidate. The public sees their impotent and weak leadership, and wants something different.

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Social Security paid $1.7 million to dead federal workers

9:53 am

Government in action! An audit of Social Security has discovered that the agency paid $1.7 million to dead federal workers.

An audit released by the agency’s inspector general Monday revealed that the Social Security Administration had not crosschecked beneficiaries’ deaths with the Office of Personnel Management, which manages federal employees. Missing just 35 deaths cost taxpayers $1.7 million.

“OPM’s annuitant file contained deaths that were not recorded in SSA’s systems,” the inspector general said. “SSA paid $1.7 million in [Old-Age, Survivors and Disability Insurance] OASDI benefits to 35 deceased beneficiaries. The average payment after death was $49,156 for an average of 84 months. …Additionally, we estimate SSA would have continued paying these beneficiaries approximately $258,000 over the next year had the deaths not been identified,” the inspector general said. Another six deceased individuals received $56,695 after their benefits were terminated by the agency.

The response by Social Security? The agency called the $1.7 million payments to dead government workers an “extremely small number.”

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Russian hackers attack US election systems

9:36 am

What, me worry? Russian hackers attempted and were partly successful in June in accessing the election databases of Arizona and Illinois.

Hackers targeted voter registration systems in Illinois and Arizona, and the FBI alerted Arizona officials in June that Russians were behind the assault on the election system in that state. The bureau described the threat as “credible” and significant, “an eight on a scale of one to 10,” Matt Roberts, a spokesman for Arizona Secretary of State Michele Reagan (R), said Monday. As a result, Reagan shut down the state’s voter registration system for nearly a week.

It turned out that the hackers had not compromised the state system or even any county system. They had, however, stolen the username and password of a single election official in Gila County.

The article describes in detail the overall bad situation, including a number of additional attacks as well as the poor security surrounding the online voting option that more than 30 states use.

As usual, we are being told not to worry by the responsible government officials:

Tom Hicks, chairman of the federal Election Assistance Commission, an agency set up by Congress after the 2000 Florida recount to maintain election integrity, said he is confident that states have sufficient safeguards in place to ward off attempts to ma­nipu­la­te data. For example, if a voter’s name were deleted and did not show up on the precinct list, the individual could still cast a provisional ballot, Hicks said. Once the voter’s status was confirmed, the ballot would be counted. Hicks also said the actual systems used to cast votes “are not hooked up to the Internet” and so “there’s not going to be any ma­nipu­la­tion of data.” However, more than 30 states have some provisions for online voting, primarily for voters living overseas or serving in the military.

Hicks has made me feel so much better!

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Federal debt to rise to $28 trillion

9:42 am

What, me worry? A new Congressional Budget Office report today predicts the federal debt will grow to $28 trillion in the next decade.

Government spending is projected to increase by 5 percent, or $178 billion, while government revenue is projected to increase by less than 1 percent, or $26 billion. The rise in government spending is attributed to a 6 percent increase in outlays for Social Security and Medicare, a 1 percent increase in discretionary spending, and an 11 percent increase in net interest.

With the American people apparently favoring candidates who want to increase that debt, I suspect this prediction is seriously understated.

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3rd largest insurer begins retreat from Obamacare

10:14 am

Finding out what’s in it: Aetna, the nation’s third largest health insurer and faced with $300 million in loses, has decided against expanding its participation in the Obamacare exchanges.

They also announced that they are re-evaluating their entire participation in the remaining exchanges.

In related news, Obamacare rates are likely to go up from 23% to 45% in Illinois, and 17.3% in Michigan.

But don’t worry, we’ve got the situation covered. We’re going to vote for Hillary Clinton and Democrats, the people that gave us this failed law. They’ll surely fix it!

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The Lie that is Orion

2:30 pm

Several weeks ago NASA put out one of its periodic press releases touting the wonders of the engineering the agency is doing to prepare for its future missions to Mars. In this case the press release described a new exercise device, dubbed ROCKY (for Resistive Overload Combined with Kinetic Yo-Yo), for use in the Orion capsule.

“ROCKY is an ultra-compact, lightweight exercise device that meets the exercise and medical requirements that we have for Orion missions,” said Gail Perusek, deputy project manager for NASA’s Human Research Program’s Exploration Exercise Equipment project. “The International Space Station’s exercise devices are effective but are too big for Orion, so we had to find a way to make exercising in Orion feasible.

As is their habit these days in their effort to drum up support for funding for SLS and Orion, the press release was filled with phrases and statements that implied or claimed that Orion was going to be the spacecraft that Americans will use to explore the solar system.

…engineers across NASA and industry are working to build the Orion spacecraft and Space Launch System rocket that will venture to deep space for the first time together…

…Over the next several years, NASA’s Human Research Program will be refining the device to optimize it not only for near-term Orion missions with crew, but for potential uses on future long-duration missions in Orion…

These are only two examples. I have clipped them because both were very carefully phrased to allow NASA deniablity should anyone question these claims. For example, in the first quote they qualify “deep space” as specifically the 2018 unmanned lunar test flight. And the second quote is qualified as referring to missions to lunar space. Nonetheless, the implied intent of this wording is to sell Orion as America’s interplanetary spaceship, destined to take us to the stars!

Don’t believe me? Then take a look at NASA’s own Orion webpages, starting with the very first words on their Orion Overivew page.
» Read more

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More speculations about Trump’s cabinet

8:43 pm

This article gives a nice overview of the people who it appears are being considered for positions in a Trump presidency, should he win.

Unfortunately, it does not give a lot of background about the people mentioned. Many, like Chris Christie, Jeff Sessions, Rudy Giuliani, and Newt Gingrich, are well known. Others, like businessman Donald McGahn, are unknown. Some, like Senator Bob Corker, suggested as potential Secretary of State, would be a disaster, based on his past history of getting the Iran deal approved.
Some. like Harold Hamm and Steve Mnuchin, have been described here at BtB at the links behind their names, Hamm positively and Mnuchin negatively..

There is more at the link. Read it all. This list is a start. It will require vetting to get a sense of what we can expect from a Trump administration.

Note that there is a reason I am so focused on Trump and not Clinton. Trump remains an unknown, who might be worth voting for if it appears his plans as President are reasonable, something that might still be possible, despite all the negative reports I’ve given him. Moreover, there is a chance that Trump can be positively influenced. Learning as much about him as possible increases that possibility.

Clinton however is not an unknown. She is corrupt, a liar, and an avowed socialist who believes strongly in increasing the size and power of the federal government, as does the entire political party that supports her. To deny any of this is to live with your head in the sand. She thus needs no vetting.

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Half of TSA employees cited for misconduct

3:19 pm

Does this make you feel safer? Almost half of all TSA employees have been cited for misconduct, and the citations have increased by almost 30 percent since 2013.

Of the total allegations filed, 90.8 percent were against TSA officers, while 4.8 percent were filed against managers or administrators. Of the areas of misconduct, “Attendance & Leave” sees the highest number of offenders, while “Failure to Follow Instructions,” “Screening & Security,” “Neglect of Duty,” and “Disruptive Behavior” round out the top five.

It also appears that the TSA has been reducing the sanctions it has been giving out for this bad behavior.

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EPA’s gasoline efficiency tests are garbage

9:07 am

Our government in action: The tests the EPA uses to establish the fuel efficiency of cars are unreliable, and likely provide no valid information at all about the fuel efficiency of the cars tested.

The law requiring cars to meet these fuel efficiency tests was written in the 1970s, and specifically sets standards based on the technology then. Worse,

[T]he EPA doesn’t know exactly how its CAFE testing correlates with actual results, because it has never done a comprehensive study of real-world fuel economy. Nor does anyone else. The best available data comes from consumers who report it to the DOT—hardly a scientific sampling.

Other than that, everything is fine. Companies are forced to spend billions on this regulation, the costs of which they immediately pass on to consumers, all based on fantasy and a badly-written law. Gee, I’m sure glad we never tried this with healthcare!

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A blunt honest appraisal of America today

12:32 pm

The coming dark age: This op-ed encapsulates perfectly my despairing sense of today’s American culture, and what it will bring to the future.

After noting the effort by Obama and the Democrats these past eight years to divide Americans by race, party, gender, religion, and creed, he then adds:

Into this, Republicans are responding not with a candidate who will rise above the fray and try to unite us all back into common culture, but a man with no temperament to do anything other than divide. His loudest supporters embrace a “convert or die” mentality. We are either with him or against him.

Republicans have embraced a man who takes tribalism to new levels and, in the process, have put on blinders and willfully ignored how much he excites white nationalists and the race baiters of the right. For every New Black Panther in love with Barack Obama there are two white nationalists willing to march through hell for Donald Trump.

In his conclusion he adds

I’m afraid 2016 is the beginning of a chaotic time and not a one off occasion. We may look back on 2016 as the calm before the storm. What is most galling to me is that my party, the party I once served as an elected official, has turned to a man who has no intention of uniting the nation, who brings out the worst in absolutely everybody, and with so much on the line has so little a chance of even winning. But to point this out is to be accused of being a traitor and helping a woman I find equally offensive.

All of this is to say we get the government and national character that reflects us and right now it is all a damning indictment of our American character. How many more will die? How many more Americans will turn against each other? How many will seek blame instead of reconciliation?

Meanwhile, I am reminded of how, during the primary campaign, Ted Cruz was always willing to graciously reach out to protesters and debate the issues with them politely, face-to-face. That behavior, in modern America, has now been called “creepy” and the act of a liar.

We get the government we deserve. Be prepared for bad things in the future.

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Most of America’s elite universities do not require history majors to study U.S. history

4:30 pm

The coming dark age: More than fifty American universities do not require history majors to take a course in United States history.

This bears repeating: The universities allow history majors to get a degree in history without having to study American history. The article also includes lots of interviews from lots of academic types, all making excuses for this dismal policy.

No wonder no one seems to know what the Bill of Rights is. Our universities, run almost exclusively by leftwing hacks, have sent it down the memory hole to be forgotten and ignored.

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Obama illegally funding Obamacare, stonewalling Congress

11:51 am

The law is such an inconvenient thing: According to a new report, the Obama administration has been illegally funding Obamacare, and stonewalling Congress when it tries to exercise its constitutional required fiscal responsibility.

Among the report’s seemingly endless list of bad behavior by the Obama administration, it noted that multiple federal agencies withheld or redacted documents from Congress, “without any valid legal basis to do so.”

Hey, who cares about the law? That’s just some silly piece of paper that some old white guys wrote some 240 years ago. We are liberal, we are Democrats, and we know best. Now shut up and do as you are told!

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Republicans and Democrats fight to restrict freedoms

3:29 pm

Ugh: House Republicans move to introduce new gun control law, House Democrats vow to fight it because it will allow for due process.

From the second link:

A Democratic source said the more controversial gun-purchase provision may be similar to a bill sponsored by Sen. John Cornyn (R-Texas) that’s backed by the National Rifle Association. Democrats say the Cornyn bill doesn’t go far enough since it includes a “probable cause” standard that would require law enforcement officials to prove that a gun buyer is an actual terrorist rather than a suspected terrorist. Instead, Democrats want a vote on legislation that would bar firearm sales to anyone on a terrorism watch list or no-fly list.

Without a vote on their own legislation, Rep. John Lewis (D-Ga.) and other Democrats have threatened to take control of the House floor once again after they return from the Fourth of July recess. On Wednesday, Minority Leader Nancy Pelosi (D-Calif.) and dozens of other Democrats held events around the country demanding action to stop gun violence.

It is disgusting how Democrats no longer support the idea of due process, that they are cool with the idea of secret lists that can deny any American his or her constitutional rights. Boy will they squeal when those lists are used to deny them their rights!

However, it is just as disgusting that the Republicans are playing into the Democrats hands here by introducing any gun control legislation. This is not how you fight Islamic terrorism, by denying Americans access to guns. You fight Islamic terrorism by standing up for our rights while aggressively going after the terrorists who commit those acts of violence.

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Congress pushes for Europa missions

9:14 am

A new House budget bill stipulates that NASA fly two unmanned missions to Europa, including a lander, and do it soon.

The bill also includes several hundred million per year for the missions, at least at the beginning. Even though planetary scientists have recommended that NASA do at least one mission to Eurpoa relatively soon, it appears that these missions are the particular pet projects of the committee chairman in Congress.

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Airbus begins assembly Orion service module

9:02 am

My heart be still! Airbus has announced that it is beginning assembly of the first Orion capsule service module.

Considering the cost to build about three Orion flight capsules, about $25 billion, one would think that would be enough to also build the capsule’s service module, especially since this is not cutting edge technology, having already been done with Apollo.

Not however when you are dealing with pork-laden government operations, where the customer, the taxpayer, is a good mark that you can suck for as much money as possible without any bad consequences. Make it sound cool and they will buy it, hook, line, and sinker!

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Congress demands Air Force spend less and more at the same time

5:38 am

A House budget report has cut the Air Force launch budget while simultaneously requiring the Air Force to favor more expensive launch companies.

In addition to cutting the funding available for new launch contracts, House appropriators also want the Air Force to consider “the best value to the government” in evaluating bids.

ULA has been pushing for the best-value approach since it sat out last fall’s GPS-3 launch competition saying it couldn’t win a price shootout against SpaceX, which will launch the satellite which was awarded an $82.7 million contract last month for a May 2018 launch of a GPS-3 satellite. That contract was awarded as part of a best value source selection. “We do not yet feel we are in a position to win price-only competitions with our competitor,” Tory Bruno, ULA president and chief executive, said in a March interview with SpaceNews. “We believe we have better performance, reliability and schedule certainty.” Those traits would carry greater weight in a best-value competition.

Only our precious Congress. On one hand they cut the budget for launches because they think the Air Force is wasting money On the other they demand that the Air Force spend extra millions on launch contracts so that the company they favor, ULA, gets the work. One would almost think they do not have the nation’s interests in mind..

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Republican-led Senate passes spending bill larger than requested by Obama

5:47 pm

Feeding the anger: A bill passed today by the Republican-led Senate included more funding that originally requested by the Obama administration.

Moving legislation and avoiding fights has been a top election year priority for Majority Leader Mitch McConnell. The Kentucky Republican wants the GOP Senate to prove that Republicans can govern by avoiding a one-and-done omnibus spending package at the end of the year. But the energy and water bill received little fanfare from Senate conservatives. They complain that the measure, which funds the U.S. Army Corps of Engineers and the Department of Interior, spends $261 million more than even Obama requested.

Sen. Mike Lee described the legislation as “simply unacceptable in a time of rising debt and slower economic growth.” The Utah Republican told The Daily Signal that “we’re never going to get our nation’s rising deficits under control until we can stick to our previous agreements on spending levels,” referring to the limits set in the 2011 Budget Control Act.

Though Congress has not passed a budget resolution, the Senate started advancing spending bills at levels established in the 2015 Bipartisan Budget Act, which increased government discretionary spending by $30 billion above the 2011 caps.

Still Sen. James Lankford, R-Okla., told The Daily Signal he’s glad the appropriations process has gotten off the ground finally. “This is the first time this appropriation bill has passed the Senate since 2009,” Lankford, who sits on the Senate Appropriations Committee, explained. “To avoid last-minute continuing resolutions, backroom deals and omnibus bills, we must move bills through a regular order appropriations process.”

These guys just don’t get it. There is a reason that Trump and Cruz dominated their party’s presidential campaign, and it wasn’t because they were calling for Congress to advance big spending bills in Congress quickly.

Posted from El Paso, Texas.

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ULA’s CEO explains why they are retiring Delta

9:06 am

Tory Bruno, the CEO of ULA, explained in an op-ed today why his company is discontinuing its use of Boeing’s Delta family of rockets and focusing exclusively on Lockheed Martin’s Atlas 5 and its eventual replacement, the Vulcan Centaur.

Delta is an amazing rocket, but it’s costly to produce. Its burnt-orange foam insulation has to be applied by hand. Its production line is bigger and more complex than Atlas’s. And its components are pricier.

Bruno’s purpose with this op-ed is to convince Congress to leave his company alone while they develop the new Vulcan rocket. Congress keeps proposing outlawing use of the Atlas 5 with its Russian engines, and Bruno does not want that, at least not until the Vulcan is flying. He is also trying to reduce his costs by discontinuing Delta, which in turn would allow him to lower prices for his Atlas 5 and compete more effectively with SpaceX.

Though I understand Congress’s concerns, I do find it sad that in modern America a private businessman has to lobby Congress for the right to run his company as he sees fit.

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How tiny cowardice is destroying us

4:33 pm

Link here.

This is how culture wars are lost: through the slow accumulation of individually defensible but collectively unjustifiable decisions not to resist. It’s the decision that objecting during diversity training simply isn’t worth the hassle. It’s the decision not to say anything when you see a colleague or fellow student facing persecution because of their beliefs. It’s a life habit of always taking the path of least resistance, keeping your head down, and doing your best to preserve your own family and career. The small fights don’t matter anyway, right? I recently spoke to a mid-level executive at a major corporation who had been forced to sit through mandatory “inclusivity” training. The topic was transgender rights, and the trainer proceeded to spout far-left ideology as fact, going so far as to label all who disagreed with the notion that a man can become a woman “transphobic.” I asked if anyone objected to any part of the training, and the response was immediate. “Are you crazy? No one wants to deal with HR.”

Read it all. We are faced with bullies, who run away and hide the instant someone challenges them. The problem is that too many people are unwilling to challenge them, so they win time after time after time.

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