Tag: bankruptcy

Budget deal boosts NASA budget

9:56 am

The gigantic $1.1 trillion omnibus budget deal announced today by Congress leaders would increase NASA’s budget by $1.3 billion.

The increase to the NASA budget goes mostly to SLS and the planetary program. Congress also decided this year to fully fund the administration’s budget request for the commercial space budget, the first time this has happened since the program began back in 2006.

Though the increase to the planetary program as well as the funding to commercial space is good news, the fact that the Republican leadership in Congress agreed to increase spending at NASA illustrates everything that is wrong with Washington. These Republicans leaders promised they would bring fiscal common sense to Washington, cutting the budget to bring the deficit under control. You don’t do that by funding everything.

SLS/Orion is a waste of money. It will accomplish little if nothing, as it is so expensive that we can’t afford to finance any actual missions using it. It should be eliminated entirely. Instead, these guys raise its budget 68%. If they were serious about cutting the budget, they would have recognized the inefficiency and impracticality of SLS/Orion and cut it, allowing them to fund the programs at NASA that are working (science and commercial space) while simultaneously reducing the budget.

Sadly, they are not yet serious about regaining control of the budget. The public has been screaming for this to happen, and their failure to do as the public wants is a further explanation for the success in this election cycle of outsiders like Trump, Cruz, and Carson.

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ULA’s fight to use Russian engines continues

9:06 am

This article provides a detailed account of the political battle between ULA and Congress of its future use of Russian engines in its Atlas 5 rocket.

Congress has imposed a strict limit on the number of engines the company can use. ULA is still lobbying for an increase, claiming that the limit will mean that they will not be able to meet the government military launch needs for a few years when the engines on hand run out and its new American-built engines are not yet available.

In the long run I think this battle is irrelevant. What really matters is what it costs to launch a satellite, and ULA is simply not focused on reducing its costs. Consider this quote from the article, emphasis mine:

ULA has designed a new rocket dubbed Vulcan that features a U.S.-made engine, but this vehicle will not be available until around 2021, assuming the project gets funded — which is by no means a given.

They made a big deal earlier this year about how Vulcan will soon replace Atlas 5 at a lower cost, but it now appears that this was merely a public relations event. ULA wants someone else to pay for this new rocket, and thus has not yet committed any of its own money to begin actual development.

Other companies however are funding the development of their own new American-made rockets that will also be far cheaper to fly. Sooner rather than later our spendthrift Congress is going to mandate that the military use those cheaper rockets. If ULA doesn’t get moving it will be left in the dust, whether or not Congress allows it to use more Russian engines.

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Ex-Im bank: Crony capitalism at its absolute worst

11:25 am

Republican pigs: Not only is this Republican Congress pushing to reinstate the Export-Import Bank so that the federal government can provide cheap loans to their corporate buddies, several senators are pushing to require that there be political litmas tests before those loans are granted.

[S]enators from both parties are pitching a condition: that applicants for loans essentially vouch support for the Israeli economy in order to be approved. The move, described by multiple sources, is meant to counter a pro-Palestinian campaign to undermine Israeli exports because of its occupation of the West Bank and blockade of the Gaza Strip.

Specifically, the Ex-Im Bank would have to consider whether applicants for loans oppose “policies and actions that are politically motivated” and meant to inhibit “commercial relations specifically with citizens or residents of Israel.” In the past, Ex-Im has taken into account applicants’ stance on human rights and terrorism, prompting advocates of the new language to propose the new qualification.

It is obscene for the federal government to be in the loan business, picking favorites among private companies. It is even more obscene for these elected officials to demand that those favorites adhere to their political whims (no matter that I might agree with those particular whims). The Ex-Im bank should go away, along with the senators who are now pushing for it.

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Spat between senators over Russian rockets

11:11 pm

Pig fight! In response to Senator Richard Shelby’s (R-Alabama) effort, with the lobbying aid of ULA, to slip an amendment into a budget bill that would allow ULA to use Russian engines in its Atlas 5 indefinitely, Senator John McCain (R-Arizona) has written a scathing letter condemning the effort.

In a Nov. 19 letter, McCain asked Cochran to “respect the well-informed work my committee took” and to avoid the “year-over-year relitigation” of the engine issue.“Recent attempts by the incumbent contractor to manufacture a crisis by prematurely diminishing its stockpile of engines purchased prior to the Russian invasion of Crimea should be viewed with skepticism and scrutinized heavily,” McCain wrote in the letter, a copy of which was obtained by SpaceNews. “Such efforts should not be misconstrued as a compelling reason to undermine any sanctions on Russia while they occupy Crimea, destabilize Ukraine, bolster Assad in Syria, send weapons to Iran and violate the 1987 Intermediate Range Nuclear Forces Treaty.”

McCain is no saint when it comes to pork, even if he is right on this issue. Shelby however is and has always been a pork pig. He has always put the needs of local companies ahead of the needs of the country. This story illustrates this perfectly.

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Yale students demand two administrators be fired for defending free speech

8:13 am

The coming dark age: Students at Yale University on Thursday demanded that two university administrators be fired because they refused to ban certain Halloween costumes that might offend some students.

On Thursday, the students surrounded Yale College Dean Jonathan Holloway—a black man—in an outdoor space and chided him for failing to take action against a fraternity that had allegedly prevented black women from attending its party. (It’s not at all clear the allegation is true, according to The Daily Beast)

After giving Holloway his comeuppance, they moved on to Nicholas Christakis, master of Silliman College. What was Christakis’s crime? His wife, an early childhood educator, had responded to a campus-wide email about offensive Halloween costumes by opining that it was inappropriate for the college to tell students how to dress.

There are videos also showing the students attacking Christakis. Watch them, and then weep for the fall of western civilization. Key quote, by one of the students:

It is not about creating an intellectual space! It is not! Do you understand that? It’s about creating a home here! You are not doing that. You’re going against that.

In other words, going to Yale is not about going to a place where intellectual ideas of all kinds can be expressed. You go to Yale to feel safe and unbothered.

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Excommunication scene from Becket

6:01 pm

An evening pause: On the eve of this year’s election day, this scene from Becket (1964) expresses well what I wish the American voters would do to both the Democratic Party and the Republican leadership in Congress. They all need to go, for the health of the country and because of their repeated malfeasance in office.

Hat tip to Phil Berardelli, author of the new edition of Phil’s Favorite 500: Loves of a Moviegoing Lifetime.

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45 Republicans vote against Paul Ryan nomination

3:04 pm

The Republicans have nominated Paul Ryan (R-Wisconsin) for Speaker of the House with only 200 of 245 votes.

Those 45 members are enough to block him from getting the Speakership during the partisan floor vote on Thursday — if the 45 GOP legislators maintain their opposition, and if Ryan is not aided by a last-minute bloc of Democratic votes.

During the closed-door conference, Ryan won just 200 votes for the nomination. Former Florida House Speaker Rep. Daniel Webster (R-FL) earned a whopping 43 votes. Rep. Marsha Blackburn (R-TN) — who isn’t officially running for Speaker — received one vote. House Majority Leader Rep. Kevin McCarthy (R-CA), who dropped out of the Speakership race a couple weeks ago, got one vote as well.

The failure on Ryan’s part to win 218 votes—the threshold for anyone to win the Speakership on the House floor assuming every member of the House is present and voting for a person—is a major embarrassment on his part.

If those who opposed Ryan in this Republican vote maintain that opposition when the whole House votes, the only way Ryan can become Speaker is if he gets Democratic votes. If that happens than either he won’t become Speaker or the Republican Party faces a breakup.

Based on recent events with the budget deal, it might make sense for some of these fake conservatives in the Republican Party to admit their real loyalty and join the Democrats. The conservatives would then probably lose control of Congress, but at least we would know where people honestly stood.

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Another Obamacare co-op fails

10:14 am

Finding out what’s in it: Utah’s only Obamacare co-op has announced it is shutting down at the end of the year due to lack of funding/income.

Arches, the only co-op health plan in Utah, began offering insurance through the Affordable Care Act in fall 2013, beginning coverage in January 2014. The nonprofit group says it’s ceasing operations because of a lack of funding from the federal “risk corridor” program, which was built into the Affordable Care Act and intended to protect insurance companies from their losses. “As one of the carriers on the (health care) exchange, we stood to benefit by our calculations in excess of $30 million for those ‘risk corridor’ payments,” Tricia Schumann, chief marketing and communications officer for Arches, told KSL. “We did anticipate those cash payments coming in … this quarter.”

The point of the fund was to mitigate losses among insurance companies and co-ops that suffered large financial risk associated with the Affordable Care Act because of unprecedented enrollment for coverage.

However, federal officials announced Oct. 1 that only 12.6 percent of the expected windfall from that risk management fund would be awarded to insurance companies.

In other words, they — and Obamacare — never had a viable profit model (as predicted by conservatives even before the law was passed). Instead, they were depending on large federal government handouts, as mandated by Obamacare itself. The federal government however simply can’t afford to give out that much money, and thus, bankruptcy.

All the more reason to continue to vote Democrat! They cared, even though they hadn’t the slightest idea of what they were doing and thus pushed through a law that was incredibly stupid and damaging. That they cared however is all that matters.

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Ryan to support budget deal

9:57 am

The fix is in: House Speaker-to-be Paul Ryan (R-Wisconsin) announced today that he will support the two year budget deal worked out by the White House and Republican and Democratic leaders that locks in increased spending and raises the debt limit for the next two years.

I could also say that Ryan’s betrayal of the conservatives in Congress didn’t take long. He didn’t even wait until he was officially elected Speaker. And if you read his reasons for this decision at the link, you will see them for what they are, shallow talking points that mean nothing.

The only good thing about this is — and it isn’t much — is that it will likely provide Ted Cruz some nice ammunition during tonight’s Presidential debate.

That the Freedom Caucus in the House is pissed at the deal and will oppose it also suggests to me that we are getting closer and closer to a split in the Republican Party.

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Congressional leaders negotiating 2-year spending deal

10:48 am

The fix is in: The White House and Republican and Democratic Congressional leaders hope to complete a two year budget deal by tonight that will allow an increase in the debt limit.

White House budget director Shaun Donovan and legislative affairs director Katie Beirne Fallon are hammering out the package with staff representing Senate Majority Leader Mitch McConnell (R-Ky.), Speaker John Boehner (R-Ohio), Senate Democratic Leader Harry Reid (Nev.) and House Democratic Leader Nancy Pelosi (Calif.). House Ways and Means Chairman Paul Ryan (R-Wis.) is expected to be elected Speaker on Thursday, but he has not taken part in these budget negotiations, aides said. In recent weeks, Boehner has said he wants to “clean the barn up a little bit” before he leaves Congress at the end of the week.

Legislation to raise the debt ceiling and fund the government is central to the deal, but the talks are also said to include measures that would fund highway and infrastructure construction and renew the Export-Import Bank for one year.  

If you read the article with a clear mind, you will see that all the dealmaking is designed to increase spending. Moreover, it notes how Senate Republican leader Mitch McConnell (R-Kentucky) does not want to have the renewal of the Export-Import Bank on a stand-alone bill. Unstated is why, as he knows that on its own the Republican majorities in both Houses would shoot it down in a second.

When Senator Ted Cruz (R-Texas) refers to these guys as the “Washington cartel” he is exactly right. They have no interest in cutting the size of the federal government, and are doing whatever they can to maintain their steadily weakening grip on power. The good news is that their grip is weakening.

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Billions of Obamacare funds pocketed by Democrats

9:17 am

Finding out what’s in it (for Democrats): Billions of dollars of Obamacare funds have vanished, having been given to sixteen states — mostly Democratically-run — to build Obamacare marketplaces but never used as intended.

The controls on federal spending right now are nil. The money almost goes out randomly, without any scrutiny, funding the friends of the Washington politicians both in Washington and throughout the country. The Democrats might have benefited royally from Obamacare, but the Republican leadership gets its own payoffs with these funds, which is why they haven’t done much to cut spending, even though that was the promise they ran under.

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“There are kindergarten classes with more realistic assessments of cost-benefit tradeoffs than the crowd watching this debate at the Wynn Las Vegas.”

10:58 am

Link here. The headline, noting how the Democratic Party debate revealed it to be an openly socialist party, is hardly news. The Democrats have been radically communist since 2004, when the party thought Joe Lieberman was too much a moderate for their taste. Since then, their candidates and policies have all be very hardcore left, demanding everything be controlled and run by the government.

The sad thing has been that the voting public has either been blind to this, or actually has wanted it. I don’t know which is worse.

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Judge rules in favor of telescope protesters

9:30 pm

A Hawaiian judge has ruled that the state’s emergency order that had forbid camping on the mountain was invalid.

The state says that it will still prohibit anyone from blocking the road, but I don’t know how they will be able to do that if a large number of protesters camp on the mountain, ready to move and block any construction vehicles trying to get to the mountaintop.

I think it is time for the makers of the Thirty Meter Telescope to consider a move out of Hawaii. I believe they will never be able to get the telescope built as planned.

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Increase push to get Ryan to run for House Speaker

9:41 am

The push to nominate Paul Ryan (R-Wisconsin) to run for the House Speaker position has apparently accelerated.

In all this, Ryan appears uninterested in running. My guess as to why is that he right now has a far more conservative reputation than he deserves, and becoming Speaker would reveal his moderate tendencies to everyone. He does not want this. At the same time, Ryan is more conservative than John Boehner, and would be an improvement.

Update: A Washington Post story today says that Ryan is reconsidering his opposition to running for Speaker.

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How the Republican Party might break-up

12:06 pm

Devin Nunes (R-California), a establishment Republican supporting Kevin McCarthy (R-California) for House Speaker, said today that any Republicans who don’t vote for McCarthy should be kicked out of the party.

Nunes is talking about the final House-wide vote for Speaker. First the Republicans vote in private among themselves, picking their nominee. McCarthy is expected to easily win that vote. Then the entire House votes. Some conservatives are threatening to not vote for McCarthy in that House-wide vote in order to extract greater influence over the entire party. Nunes wants them ejected from the party if they do that.

I have also read another story, the link to which I can’t find now, where establishment Republicans want to codify what Nunes is saying, so that any Republican who voted against McCarthy in the final vote would be kicked out of the party. If this happens, then we might very well see the Republican Party split, something that I increasingly see as a possibility. Right now the party is trying to be too big a tent, including conservatives and many moderate Democrats who find the modern Democratic Party unacceptable. (This is one reason why the Republican presidential field is so large.)

Should the party split, we might also eventually see the withering away of the Democratic Party, which today is very corrupt and far too leftwing for most Americans. If the Republicans split into conservative and moderate wings, many of those disenchanted Democrats would move to the moderate Republican faction. The result would be to cut off the corrupt modern Democratic Party from the reins of power.

I am of course being hopeful and naively optimistic. A more likely scenario would be for the Republican Party to split in such a way that the unified Democrats, still corrupt, would take over.

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Government workers earn 78% more than private workers

5:29 pm

We’re here to help us! A new study has found that Federal employees earn 78% more than private sector workers.

The Cato Institute’s Chris Edwards compared data from the Bureau of Economic Analysis to show that, in his view, civilian federal workers are overcompensated. Factoring both salary and benefits, Edwards pointed to BEA data showing the average federal employee earns about $119,000 annually, compared to the private sector worker who earns $67,000 per year. When comparing just salaries, feds collect 50 percent bigger paychecks, Edwards said.

The wage gap between the federal and private sectors has grown since the 1990s, Cato’s director of tax policy studies found. The divide has doubled since 1990, when it was just 39 percent. The growth, he said, came from not just raising pay levels and offering more generous benefits, but also a more “top-heavy” bureaucracy that routinely moves employees into higher salary brackets and redefines jobs as higher earning positions. “The federal government has become an elite island of secure and high-paid employment, separated from the ocean of average Americans competing in the economy,” Edwards wrote in his findings.

I wonder, do you think we are getting our money’s worth?

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School officials ashamed of the U.S.

9:04 am

Insane: High school administrators Wyoming canceled the annual “America Pride Day” celebration because they thought it would offend some students.

Jackson Hole High activities director (and assistant principal) Mike Hansen said he favored canceling “America Pride Day” because some students may not feel American and, thus, could feel “targeted and singled out by this day.” “Maybe they moved here last week. Maybe they moved here last month,” Hansen told the News&Guide, referencing the students who enjoy free education and much else in the shadow of a world-class ski resort. “We’re trying to balance many different things here,” the activities director added. “We’re trying to be inclusive and safe, make everyone feel welcome.”

What makes this story even more interesting is that the student body revolted against the decision.

In response to a decision by school officials to replace a previously-held “America Pride Day” with “College Day” as part of this year’s homecoming festivities, a large group of senior students and some juniors protested by bedecking themselves with American flag capes, American flag headbands, American flag shorts and all manner of beautifully and garishly patriotic American flag ornamentation. After school, one kid also drove a diesel truck around the parking lot with a bunch of American flags waving in the breeze.

The goal of school administrators is to make new immigrants feel welcome in America, not to be ashamed of their country. There is a reason immigrants are here, and it is too enjoy the blessings of freedom. To be embarrassed by this suggests that these school officials should find another job.

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Government overpayments going up by billions

8:44 am

Government marches on! A GAO report has found that since 2003 the federal government has wasted almost a trillion dollars in improper overpayments, with the numbers increasing by 20% in 2014.

The GAO said three programs were most at fault: Medicare, Medicaid and the Earned Income Tax Credit (EITC). These three government programs were responsible for a full three-quarters of the nearly $19 billion in erroneous payments the federal government made in fiscal 2014, the GAO said. “Improper payments remain a significant and pervasive government-wide issue,” the congressional watchdog unit warned.

The Earned Income Tax Credit program was the worst offender. The Internal Revenue Service estimated that the program erroneously handed out $17.7 billion worth of “improper” payments. That amounts to a whopping 27.2 percent of the total $65.2 billion in EITC refund checks that the IRS sent out in fiscal 2014. And that means the federal government is now fast approaching the day when one out of every three earned income tax credits is erroneous.

Medicare was nearly as bad. The program, which covers about 54 million elderly and disabled beneficiaries, incorrectly doled out $59.9 billion in fiscal 2014, which is about a tenth of its $603 billion budget. So, one out of every $10 that Medicare spent last year was erroneous, the GAO found. Medicaid made $17.5 billion in mistaken payments out of its $304 billion budget, for a nearly 6 percent error rate.

It is obvious that the solution to this government problem is to give the government more power and money. How else can they reduce this waste but by spending more money!

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The Tiny Dot

1:37 pm

A daytime pause: Apropos of last night’s Republican debate, this very funny short video I think explains the absurd situation in which the American people find themselves, and asks the right questions that might actually force people to do something about it.

The video ends with a plug of a book by the videographer, which might be great. I think the solution is for more Americans to actually read some history, including the Constitution, the Declaration of Independence, the Federalist Papers, and even Alexis de Tocqueville’s Democracy in America. To call these documents rightwing extremism is not an exaggeration, but by following them for 200 years the U.S. became the wealthest nation ever in the history of the human race, all because it put its faith in ordinary people instead of the elite powers that want to dictate terms to everyone else.

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More rumors swirl about replacing Boehner as House Speaker

4:09 pm

Link here. The story discusses in detail some of the negotiations that appear to be going in the background within the Republican caucus, all focused on the possibility that Speaker John Boehner could be driven out sometime this fall. It also indicates that the more conservative wing of the Republican Party is pushing the issue, and no matter what happens, is likely to have greater influence in the coming months.

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