Tag: bankruptcy

Another news report suggests that Republicans are preparing to surrender in budget talks.

10:02 am

Another news report suggests that Republicans are preparing to surrender in budget talks.

Senior aides familiar with the talks say the emerging agreement aims to partially repeal the sequester and raise agency spending to roughly $1.015 trillion in fiscal 2014 and 2015. That would bring agency budgets up to the target already in place for fiscal 2016. To cover the cost, Ryan and Murray are haggling over roughly $65 billion in alternative policies, including cuts to federal worker pensions and higher security fees for the nation’s airline passengers.

Republican leaders are also seeking additional savings to knock a small dent in deficits projected to exceed $6 trillion over the next decade. But the deal would do nothing to trim the debt, which is now larger, as a percentage of the economy, than at any point in U.S. history except during World War II. [emphasis mine]

To me, the biggest disappointment of this surrender is that Paul Ryan is negotiating it, proof that he too is no fiscal conservative and worse is far more stupid than I had thought.

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Rumors suggest that Republicans are moving to accept a budget deal that would end sequestration.

8:30 pm

The stupid party strikes again! Rumors suggest that Republicans are moving to accept a budget deal that would end sequestration.

At issue are efforts to craft a compromise that would ease across-the-board spending cuts due to take effect in January, known as the sequester, and replace them with a mix of increased fees and cuts in mandatory spending programs.

As de Rugy notes:

The sequester, no matter how imperfect a policy, is arguably the only victory for fiscal conservatives in a very long time. Their victory is also president Obama’s biggest defeat (outside of the self-inflicted disastrous Obamacare rollout). It is also another opportunity to remind the American people that the alarmist predictions that we were all subjected to about the devastating impact sequestration would have on our economy didn’t materialize.

She adds:

So let’s sum this up: a massive and unnecessary surrender on the sequester, some tax hikes, and more unemployment benefits. It seems to me that the Republicans are learning their moves from the French army.

Not only do most Democrats have to be replaced, so do a significant number of Republicans. Too many of these politicians have no interest in serving the citizenry being crushed by this out-of-control federal government. Instead they serve that government instead.

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The planetary science community is in an uproar over the Obama administration’s proposed restructuring and possible budget cuts to NASA’s planetary research program.

11:41 pm

The planetary science community is in an uproar over the Obama administration’s proposed restructuring and possible budget cuts to NASA’s planetary research program.

Though the Obama administration has been consistently hostile to the planetary program, attempting to cut it severely several years in a row, and though I generally have found these particular cuts to be short-sighted, in this case the article is not very clear about the cuts NASA is proposing. It appears they are going to eliminate for one year the general research fund. I suspect there is waste in this budget, but I also suspect that this is a meat cleaver approach that has not been thought out well, as suggested in the article.

One quote from the article reinforces the foolishness of these management decisions:

Next year, a high-level NASA review is likely to have to decide between shutting down either the Mars Curiosity rover or the Cassini mission to Saturn. Both are successful missions that cost around $60 million a year, a level that Green has said the division simply cannot afford for the long term.

Talk about penny wise, pound foolish. The cost to get these probes to their destination was in the billion dollar range, each. To shut them down when they are working and cost relatively so little now is beyond stupid.

As I have written repeatedly, we have a big federal deficit. We need to cut, and I think NASA’s budget can be cut. It just makes no sense to cut planetary research, when there are other portions of that budget that are accomplishing little and cost far more.

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The federal budget deficit for October was “only” $91 billion.

8:59 am

The day of reckoning looms: The federal budget deficit for October was “only” $91 billion.

The AP article makes a big deal about how much lower this deficit is compared to past Octobers, but at this level, we would still have an annual deficit over $1 trillion. Even it ends up as half that, the numbers are still terrible.

The budget deal that ended the government shutdown ends on January 15. Be prepared for another shutdown. I expect some Republicans are going to once again tie that shutdown to repealing Obamacare.

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The Pentagon has for years routinely been doctoring its budget numbers, and has no idea where billions of its money is going.

12:45 pm

Good enough for government work: The Pentagon has for years routinely been doctoring its budget numbers, and has no idea where billions of its money is going.

In its investigation, Reuters has found that the Pentagon is largely incapable of keeping track of its vast stores of weapons, ammunition and other supplies; thus it continues to spend money on new supplies it doesn’t need and on storing others long out of date. It has amassed a backlog of more than half a trillion dollars in unaudited contracts with outside vendors; how much of that money paid for actual goods and services delivered isn’t known. And it repeatedly falls prey to fraud and theft that can go undiscovered for years, often eventually detected by external law enforcement agencies.

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In his weekly radio address today, President Obama called for new taxes and increased spending.

8:51 am

Broken record: In his weekly radio address today, President Obama called for new taxes and increased spending.

It is always the same. No matter what happens, Obama calls for more spending and higher taxes. It seems quite unimaginative on his part to never propose some other ideas for solving the federal deficit and the government’s other problems.

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A new poll, taken by a liberal poll company, finds that Democratic incumbents took a much bigger hit than Republican incumbents after the government shutdown.

11:02 am

A new poll, taken by a liberal poll company, finds that Democratic incumbents took a much bigger hit than Republican incumbents after the government shutdown.

As I’ve said repeatedly, the shutdown was a team effort of both parties, that occurred because of their disagreement over Obamacare. The spin has said the Republicans lost big. The evidences says otherwise.

Also, this poll was taken before the most recent disasters relating to Obamacare became public knowledge. I suspect the numbers will worsen for Democrats in subsequent polls.

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The president and the Democrats lied us into a bad law.

9:19 pm

“The president and the Democrats lied us into a bad law.”

The Right opposed the law on principle. A single party — the Democrats — own this law in a way that no party has had complete ownership of any major social legislation in a century. They bought this legislation with deceit and the GOP said so. Now that it is going into effect, the facts on the ground are confirming that deceit. Moreover, the same haughty condescending bureaucrats and politicians who told us they were smart enough and tech-savvy enough to do just about anything are being exposed as incompetent political hacks.

And remember: This same President and those same Democrats re-affirmed their support of Obamacare less than one month ago by insisting on shutting the government down rather than agree to even the slightest revision of this disaster of a law.

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Unnamed healthcare officials admit that the Obama administration specifically wrote the Obamacare regulations so that millions would have to lose their healthcare plan.

7:35 pm

He lied: Unnamed healthcare officials admit that the Obama administration specifically wrote the Obamacare regulations so that millions would have to lose their healthcare plan.

Buried in Obamacare regulations from July 2010 is an estimate that because of normal turnover in the individual insurance market, “40 to 67 percent” of customers will not be able to keep their policy. And because many policies will have been changed since the key date, “the percentage of individual market policies losing grandfather status in a given year exceeds the 40 to 67 percent range.”

That means the administration knew that more than 40 to 67 percent of those in the individual market would not be able to keep their plans, even if they liked them.

Yet President Obama, who had promised in 2009, “if you like your health plan, you will be able to keep your health plan,” was still saying in 2012, “If [you] already have health insurance, you will keep your health insurance.”

These regulations were written in the executive branch, which is the complete responsibility of Obama. So, the agency he controls wrote regulations they knew would force the cancellation of millions of healthcare plans, and Obama went around the country lying about it. It is as simple as that.

But remember! Obama and the Democrats forced a government shutdown so Obamacare would go into effect now. Shouldn’t we all be grateful?

Update: The quote above is from the original version of the story. The article itself disappeared from the web on Monday night and then reappeared at a new url (which I have linked to above) with some changes to some paragraphs, none of which did much to change the essential content.

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Half a million Californians to lose their health insurance because of Obamacare.

5:19 pm

Half a million Californians to lose their health insurance because of Obamacare.

We are learning now that Obamacare was very specifically designed to eliminate many health insurance plans, especially the ones that cost less and provided fewer benefits (the kinds of plans that young, healthy people prefer). Considering the blatant promise by Obama, repeated over and over again before Obamacare was passed, that if people liked their plan they would get to keep it, these appalling numbers and the fact that Obamacare is very clearly designed to eliminate these low-cost plans, Obama either knew his statement was an outright lie, or he is truly one of the most incompetent presidents ever.

In the first case he was dishonest and corrupt, intending to force a change that people did not want. In the second, Obama was pushing for the passage of a law to which he literally had no understanding. I’m not sure which is worse.

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Data from the Census Bureau reveals that in 2011 the number of people working full time was outnumbered by those getting government aid.

9:40 am

The day of reckoning looms: Data from the Census Bureau reveals that in 2011 the number of people working full time was outnumbered by those getting government aid.

Many of those getting aid according to these numbers could also be full time workers. Nonetheless, the data is stark and depressing, as it illustrates how American culture has declined. Once it was considered shameful to be “on the dole.” Now everybody does it. You can’t have a robust healthy society under those conditions.

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Even when they admit that Obamacare isn’t working, liberals still refuse to recognize that they are now agreeing with Ted Cruz.

9:27 am

Leftwing bigotry: Even when they admit that Obamacare isn’t working, liberals still refuse to recognize that they are now agreeing with Ted Cruz.

I call it bigotry because that is what it is. No matter what you say to these types of liberals, no matter what they experience or conclude, they remain incapable of considering the possibility that a conservative or Republican might have the right idea. Instead, they believe that conservatives or Republicans must be opposed at all costs because conservatives or Republicans must be evil and wrong.

And such close-mindedness is nothing short of downright bigotry.

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Progressives made their beds; it’s time they lay in it.

8:41 am

Progressives made their beds; it’s time they lay in it.

In short: Obamacare is a massive wealth “spreading” from the young and struggling to the old and well off. Add to that Obamacare’s devastating impact on the economy and part-timing of the American workforce, and you can almost see the train flying off the rails.

There will be attempts at bi-partisan “fixes” to some of the more visible problems caused by Obamacare. Republicans and Democrats have been working together to delay or repeal the medical device tax and change the definition of a full-time employee back to 40 hours per week from Obamacare’s 30 – to name just two.

Republicans must resist the urge to help with these “fixes.” We just spent a month being lectured by arrogant know-it-alls about how Obamacare is “settled law.” So keep it settled. Obamacare is failing already, and it will continue to fail in more spectacular ways as we move forward, let it.

Democrats wrote the bill, Democrats voted for the bill, a Democrat president signed it into law. It’s theirs. Make them live with it. As is. [emphasis in original]

I would add that Democrats just re-endorsed the law aggressively during the government shutdown battle. Rather than revise it by the smallest amount, they insisted instead on shutting down the government to defend it.

When the 2014 elections roll around, the responsibility for this Obamacare disaster must fall on the perpetrators of that disaster: The Democrat Party and President Obama.

In related news: Thousands get health insurance cancellation notices. Actually, that’s “Hundreds of thousands,” but who’s counting?

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A long and detailed assessment of the present technical problems of the Obamacare exchange website.

9:41 pm

A long and detailed assessment of the present technical problems of the Obamacare exchange website.

It is worth the long read. The author appears to have asked the right questions of a lot of the right people, and appears to have approached the issue honestly. Key quote:

In a couple of ways, then, the severe user-interface problems at the front end of the federal exchange has actually had some advantages from CMS’s point of view, because by keeping enrollment volume low it has kept some other huge problems from becoming instantly uncontrollable.

But that low volume is mostly a very bad thing for Obamacare, of course, since the viability of the exchanges depends on a certain size and demographic mix which cannot be attained unless these problems are resolved very quickly. I couldn’t get enrollment numbers from any of the people I spoke with, but I was told that the uptake model that HHS built (using CBO projections) to predict how the exchanges would work made a low-end estimate that just under half a million people would enroll nationwide by October 31st, and that enrollment would then accelerate dramatically between November 15 and December 30th. The October 31 target, which was thought to be modest, now looks essentially impossible to reach, but their bigger worry is that period in November and December.

If the problems now plaguing the system are not resolved by mid-November and the flow of enrollments at that point looks like it does now, the prospects for the first year of the exchanges will be in very grave jeopardy.

As I said, read the whole thing. Whether you support or oppose Obamacare, this article appears to give an honest appraisal of the present situation, which is not good.

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Cygnus will be de-orbited one day early, on October 23.

8:24 am

Cygnus will be de-orbited one day early, on October 23.

At the same time, preparations move forward for the second Cygnus flight in December, which will be the first operational flight. This quote is interesting:

Neither Orbital nor the Virginia Commercial Space Flight Authority got locked out of the Mid-Atlantic Regional Spaceport as a result of the shutdown, meaning that preparations for the tentative December launch continued while more than 95 percent of NASA’s roughly 18,000 civil servants were on furlough.

Suggests again how unessential a good percentage of NASA’s employees really are. They might be great engineers, but they are apparently wasting their talents at NASA doing unnecessary make-work.

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The Senate budget deal that the House will vote on today includes some really nice pork.

4:48 pm

The Senate budget deal that the House will vote on today includes some really nice pork.

The bill includes extra funds to fix flooded roads in Colorado, a $3 million appropriation for a civil liberties oversight board and a one-time payment to the widow of Sen. Frank Lautenberg (D-N.J.), who died over the summer. It also includes a more than $2 billion increase in funding for construction on the lower Ohio River in Illinois and Kentucky. Current law authorizes $775 million in spending for related projects, and the bill increases it to $2.918 billion.

The last appears to be a kickback to Mitch McConnell (R-Kentucky) to get him to buy into this crap.

The bill also has this crap:

The legislation broadly re-opens the government through Jan. 15, and extends the ability of the government to borrow money through Feb. 7. It does so by allowing President Obama to waive the debt ceiling, a move that can be overridden by a resolution of disapproval by Congress that Obama could still veto. [emphasis mine]

In other words, Congress is now ceding this budgetary responsibility and power to the President, who will then rule by decree.

Update: The bill passed both houses of Congress and has now been signed by the President. Note that the only opposition came from Republicans, but even here the opposition was a minority. The Democrats strongly endorsed this bill, and for good reason. It gives them (and the Republicans who supported it) lots of pork and greater power for Obama. Americans meanwhile are screwed. The day of reckoning still looms.

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Chase Bank has told its business customers that there is now a limit on the amount that can be withdrawn from an account, while also banning all international wire transfers.

11:56 am

WTF? Chase Bank has told its business customers that they are placing a limit on the amount that can be withdrawn from an account, while also banning all international wire transfers.

If I had a Chase account, I would close it today, immediately, before these restrictions go into place.

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“I wanted the Affordable Health Care Act. The problem is, is it’s not affordable,”

9:24 pm

An Obama supporter finds out what’s in it: “I wanted the Affordable Health Care Act. The problem is, is it’s not affordable.”

I would laugh except that I am crying. Moreover, the article is from a San Francisco media outlet, which is as surprised as this Obama supporter at the cost of Obamacare. Too bad these liberals all considered conservatives and tea party people terrorists, murderers, and hate-filled killers of small children and therefore not worth listening to back in 2009. Had they listened, they would have found out about the unworkable nature of this law then, instead of now, and the law would never have been passed.

They should maybe consider this reality and recognize that this is why there are Republicans putting up a fight now to delay or defund the law.

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No budget deal: The Democrats continue to refuse to give in at all, and the bulk of the Republican caucus has shown some spine and refused to cave.

5:42 pm

Well hallelujah and amen! No budget deal: The Democrats continue to refuse to give in at all, and the Republicans have shown some spine and refused to cave.

This deadlock has been a team effort, from both sides. To say it is entirely the fault of one party or the other is to reveal your partisanship.

Nonetheless, legislation requires negotiation, and the only ones refusing to negotiate at all have been the Democrats. In the real world outside of government, such pig-headedness always results in no deal at all.

Right now it looks like 17% of the government will remain shut for quite awhile. And with the debt ceiling kicking in, the federal government will find its hands tied even more. The American people are about to find out that life will go on quite successfully without their big daddy to boss them around.

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The Obamacare website — that doesn’t work and probably never will — was originally supposed to cost $93.7 million and ended up costing more than six times more, $634 million.

6:42 am

Government marches on! The Obamacare website — that doesn’t work and probably never will — was originally supposed to cost $93.7 million and ended up costing more than six times more, $634 million.

Gee, this is almost as good as the James Webb Space Telescope, which is probably going to end up cost nine times more than originally budgeted.

And obviously, this disaster must be the fault of either George Bush or the tea party!

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The Obama administration has ordered 1100 square miles of open ocean off limits to private fisherman and tourists because of the government shutdown.

6:05 am

Shutdown fascism: The Obama administration has ordered 1100 square miles of open ocean off limits to private fisherman and tourists because of the government shutdown.

The article above also has a link to a story where voluntary unpaid Catholic priests have been told by the Obama administration that they will face arrest if they try to serve mass at military chapels or minister to military personnel during the shutdown.

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The Treasury Inspector General has found that the IRS cannot account for $67 million of Obamacare funds.

3:06 pm

We’ve only just begun: The Treasury Inspector General has found that the IRS cannot account for $67 million of Obamacare funds.

he “Health Insurance Reform Implementation Fund” (HIRIF) was tucked into Obamacare in order to give the IRS money to enforce the tax provisions of the healthcare law. The fund, totaling some $1 billion of taxpayer money, was used to roll out enforcement mechanisms for the approximately 50 tax provisions of Obamacare. According to the report: “Specifically, the IRS did not account for or attempt to quantify approximately $67 million [from the slush fund] of indirect ACA costs incurred for Fiscal Years 2010 through 2012.”

The report also found other spending abuses, including using the money for travel that was unjustified.

But everything’s under control. The Democratic Party will make sure Obamacare is funded, no matter what!

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The Obamacare wars are just beginning.

10:35 am

The Obamacare wars are just beginning.

This is war—turning sectors of the economy into partisan battlefields is a cost of their agenda that liberals, with their pure faith in “programs,” never factor in. But wars also have a way of leading to unexpected outcomes.

Read the whole thing. The author outlines how this terrible law, defended again today by the Democrats in the Senate, will have numerous unintended consequences that were unexpected and are generally bad.

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The first and second launch of the Space Launch System are likely to be delayed due to budget issues.

7:56 am

The first and second launch of the Space Launch System are likely to be delayed due to budget issues.

“It’s very clear that we could have slips of a year or two,” said [deputy administrator Lori] Garver, referring to both the 2017 launch — which won’t have a crew — and the first planned flight of NASA astronauts aboard the SLS rocket in 2021.

Garver claims that it is insufficient funds for SLS that will cause the delays, despite getting $3 billion per year, or ten times the money the private commercial program is getting.

I’m on a hike today, but so any additional comments about this insanity will have to wait.

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