Tag: bankruptcy

Space agencies of the world unite!

9:48 am

On Tuesday NASA released what it calls a new “space exploration roadmap,” outlining the agency’s goals for the human exploration of space over the next few decades.

Normally I’d say, who cares? The space agency puts these kinds of PR roadmaps together periodically. None of them really ever mean that much. And in truth, this particular report doesn’t mean that much either. However, what makes this “Global Plan” interesting and worth mentioning is the participants who wrote it. It seems that NASA and the Obama administration didn’t do it alone.
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A GAO audit of NASA’s Orion capsule says the program faces delays and budget overruns.

2:46 pm

A report by NASA’s inspector general of the Orion program says it faces delays and budget overruns.

I’m not surprised. The audit [pdf] tried to put a good spin on NASA’s effort to build this capsule, but you can’t make a beauty queen out of a cockroach. Even though I truly believe that the agency has worked hard to try to contain costs and meet its schedule, it is impossible for NASA to succeed at this under the constrains imposed on it by Congress.

And then there is this:

Meanwhile, although [the] report focused on Orion, it also reiterated an oft-repeated point: The money NASA has said it will spend on SLS, Orion and associated ground systems is not enough to stage a mission to any extraterrestrial surface. “Given the time and money necessary to develop landers and associated systems, it is unlikely that NASA would be able to conduct any surface exploration missions until the late 2020s at the earliest,” the report says. “NASA astronauts will be limited to orbital missions using” Orion.

In other words, this very expensive project will not go anywhere for almost two decades. Doesn’t that just warm your heart?

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The federal treasury had a $98 Billion deficit in July, yet the total debt was left unchanged at $16,699,396,000,000

10:32 am

Fraud: The federal treasury had a $98 Billion deficit in July, yet the total debt was left unchanged at $16,699,396,000,000.

At the static $16,699,396,000,000 level that the Treasury reported for every day of July, the debt was just $25 million below the legal limit of $16,699,421,000,000 that was set in a law passed by Congress and signed by President Barack Obama.

The total debt has remained unchanged now for almost three months, despite continuing month deficits. In other words, someone is lying and committing outright fraud.

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Pigs in space

10:11 am

Today I have an op-ed in the Wall Street Journal, entitled “No liftoff for these space flights of fancy.” It is essentially a more detailed reworking of my rant on the John Batchelor Show on July 30.

My point is that the federal space program mandated by Congress, the Space Launch System (SLS), is never going to go anywhere, and is nothing but pork that should be cut as fast as possible. (See my essay from November 2011 on how NASA and the federal government can better use this money to get more accomplished in space, for less.)

The comments to the article have generally been positive and in agreement. Those who disagree mostly question the $14 billion cost per launch that I claim SLS will cost. That number comes from John Strickland’s very detailed analysis of what it will cost to build, complete, and operate SLS. However, it doesn’t require much thoughtful analysis to realize that this number is not unreasonable.
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How Obamacare discourages people from making more money, discourages businesses from hiring, and discourages everyone from becoming better than they are.

4:42 pm

How Obamacare discourages people from making more money, discourages businesses from hiring, and discourages everyone from becoming better than they are.

But we all know that the real and only reason I mention these unfortunate facts about Obamacare is because Obama is black and that I’m a racist.

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In its minority small business program, supposedly designed to help minorities, the federal government has instead given millions to firms owned by fictitious people.

9:15 am

In its minority small business program, supposedly designed to help minorities, the federal government has instead given millions to firms owned by fictitious people.

This article illustrates how deep and extensive the corruption is in Washington DC. Things have gotten so bad that we hardly notice a story like this, even though it involves a level of fraud and illegality involving millions of dollars that has become almost routine within the small business and minority set-aside programs of the federal government.

The programs were designed, with noble good intentions, to encourage new businesses run by minorities or women. Instead, a minority or woman sets up a fake company and then subcontracts the work out to others (even though such subcontracting is forbidden). No one in the federal government notices or cares, and the fraud escalates, until in examples like the one at the link, it becomes so egregious that someone in government feels obligated to prosecute. And even then, it appears that the woman charged is only obligated to return some cash and a car. It does not look like she will serve any prison time.

Just imagine how much other fraud and corruption continues to go on in other federal feel-good programs that no one has bothered to stop or notice. The possibilities are numbing.

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An inspector general report has found that the 24 health co-ops formed under Obamacare are going bankrupt, even before they have opened.

9:20 am

Our government at its best: An inspector general report has found that the 24 health co-ops formed under Obamacare are going bankrupt, even before they have opened to their first customers.

And that’s not all:

Examiner Watchdog investigative reporting project focused on the co-ops began in 2012 and has since uncovered extensive evidence of financial mismanagement, conflicts of interest, failure to file required tax returns, inadequate capitalization and evasion of public disclosure requirements such as the federal Freedom of Information Act. A recent Examiner survey found, for example, that all but one of the 24 co-ops failed to file required tax returns, and several may invoke a highly questionable loophole allowing them to avoid doing so in the future. Even more troubling, two of the co-op loans were awarded to organizations headed by individuals with questionable backgrounds, the Examiner has learned, including an insider trading conviction and a history of child sexual abuse.

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The Obama administration has given Congress and its staff a waiver so that they will not have to pay the full cost increase imposed by Obamacare.

4:09 pm

The law is for the little people: The Obama administration has given Congress and its staff a waiver so that they will not have to pay the full cost increase imposed by Obamacare.

No waiver for anyone else, however. You gotta pay, tough luck. You ain’t an important member of the Washington elite, the royal class, the superior smarter set that makes the laws you (and not they) have to follow.

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My rant Thursday against politicians on the John Batchelor Show

10:43 pm

On my Thursday appearance last week on the John Batchelor Show John and I devoted the entire segment to talking about the sad state of NASA and how the partisan bickering in Congress is not only failing to deal with those problems, that bickering is intentionally disinterested in actually fixing them. As I say,

What both those parties in Congress and in the administration are really doing is faking a goal for the purpose of justifying pork to their districts, because none of the proposals they’re making — both the asteroids or the moon — are going to happen.

I intend to elaborate in writing on this subject in the next day or so. In the meantime, here is the audio of that appearance [mp3] for you all to download and enjoy.

Note that I specifically talked about the following stories during this appearance:

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Two graphs that show the depressing trends of the work force for the past twenty years.

12:40 pm

Two graphs that show the depressing trends of the work force for the past twenty years.

Both reveal that, since the crash in 2008-2009, there has been absolutely no uptick, despite the desperate repeated claims of the Obama administration. The American work force, and the economy that work force represents, has shrunk, and shows no signs of recovery.

There is a solution, but no one really wants to risk trying it in our Soviet-style society.

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The state of SLS construction.

10:40 pm

The state of SLS construction.

The article is mostly focused on the engineering challenges of building a new rocket out of old pieces of the space shuttle. Kind of reminds me of Frankenstein. Nonetheless, I do get the impression for the first time that this heavy lift rocket will be built, and will fly at least once.

After that, however, I expect it to die from lack of funds. In fact, its history will probably parallel that of the Soviet Union’s Energia rocket, which flew twice, once to launch their shuttle copycat Buran and once to lift a failed payload whose purpose has never been clearly revealed. Soon thereafter came bankruptcy and the end of the Soviet Union, which couldn’t afford such a monstrosity. SLS will likely see a similar fate.

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