Fiddling away: The Senate today rejected President Obama’s proposed budget 99-0.
Too bad Harry Reid won’t offer up a budget of his own. The only reason this got voted on at all was that the Republicans forced a vote.
Meanwhile, the U.S. government fell another several billion dollars into debt even as the vote was being taken.
Another Obama tech wonder company dies: LightSquared has filed for bankruptcy.
From the beginning engineers were saying that LightSquared’s system would interfere with GPS. The only reason the company lasted as long as it did was because it had the political backing of the Obama administration. And the reason it had that backing is because the company’s CEO was a big supporter of Obama.
The day of reckoning looms: The federal government is liable for approximately $850 billion in student loans, and the number of borrowers defaulting on these loans is on the rise.
The day of reckoning looms: A new official report released yesterday predicts that Social Security will run out of money three years earlier than previously predicted.
The day of reckoning looms: The credit rating of the United States government has been downgraded again.
Modern doublethink: The Obama administration’s treasury secretary admitted Wednesday that the federal government’s debt is “unsustainable,” but then added that solving the problem shouldn’t be a top priority, because the government still needs to “do things.”
Geithner’s refusal to confront what he admits is a looming disaster illustrates for all to see the normal operating policies of this administration.
Another wise investment of the Obama administration: The world’s largest solar power project, recipient of the second largest ever Department of Energy loan guarantee, has filed for bankruptcy.
Update and correction: It turns out that the company was offered the DOE loan guarantee, but turned it down. Read this second article. The facts it describe make the decisions of the Obama administration seem beyond foolish.
Our government at work: The chief of the General Services Administration has resigned and two of her top deputies have been fired for organizing an excessively expensive training conference at a luxury hotel.
Organizers spent $835,000 on the event, which was attended by 300 employees. The expenses included $147,000 in airfare and lodging at the hotel for six planning trips by a team of organizers. Among the other expenses were $3,200 for a mind reader; $6,300 on commemorative coin set displayed in velvet boxes and $75,000 on a training exercise to build a bicycle. [emphasis mine]
They made six separate trips to this Las Vegas hotel in order to plan a four-day conference?
The sad part is that this kind of spending abuse is actually quite normal in the federal government. I’ve seen it at multiple science conferences and press conferences. Lots of free food, fancy digs at cool locations. And all paid for by the taxpayer.
The House today passed the Republican 2013 budget, 228-191.
Ten Republicans voted no. All Democrats voted no.
Though this budget might not be perfect, at least it makes an effort to face the budget situation. Note also that the Democrats have now rejected their own President’s budget as well as the Republican budget. In addition, the Democratic leadership in the Democratically-controlled Senate has already said they won’t pass a budget this year, the fourth year in a row.
The country is sinking in debt caused by the federal government. It behooves these elected officials to deal with it. That the Democrats won’t tells us much about their lack of qualifications for office.
Breaking news! The federal debt has increased more during Obama’s three years in office than it did during Bush’s eight year presidency.
Both Presidents spent uncontrollably. Obama has just been the most uncontrollable of all, at least up to now.
