Romney’s energy policy proposal announced today would redirect science funding towards basic research.

Mitt Romney’s energy policy proposal, announced today, would redirect science funding towards basic research, according to this mostly positive analysis from the generally liberal journal Science.

Personally I’d like to get the federal government out of all this. Let the private market decide where the money should be spent for research. Moreover, we still have that federal debt to pay off. Where will Romney get the money?

The Congressional Budget Office yesterday projected this year’s deficit will be $1.1 trillion dollars, making it the fourth year in a row that the deficit has broken the trillion dollar ceiling

The day of reckoning looms: The Congressional Budget Office yesterday projected this year’s deficit to be $1.1 trillion dollars, making it the fourth year in a row that the deficit has broken the trillion dollar ceiling.

In the entire history of the U.S. the deficit never exceeded one trillion dollars, until Barack Obama became president. In fact, it never came close until Obama arrived.

NASA can put a man on the Moon and a rover on Mars, but somehow it can’t comply with a Freedom of Information document request.

NASA can put a man on the Moon and a rover on Mars, but somehow it can’t comply with a Freedom of Information document request.

The request was an attempt by a newspaper to find out if NASA officials have been partying extravagantly at conferences, like officials in GSA. That NASA can’t provide the documents suggests that something stinks somewhere.

The modern leftwing disconnect from reality.

The modern leftwing disconnect from reality.

[L]ast week a man called Floyd Corkins shot another man called Leo Johnson, the security guard at the Family Research Council, a “conservative” group, according to the muted media coverage, or a “hate group,” according to the Southern Poverty Law Center, who spray that term around like champagne on a NASCAR podium. Mr. Corkins, an “LGBT volunteer,” told his victim, “I don’t like your politics.” In his backpack, he had one box of ammunition and 15 Chick-fil-A sandwiches. Had he had one Chick-fil-A sandwich and 15 boxes of ammunition, he might have done more damage. Or then again perhaps not, given that, as bloggers Kathy Shaidle and “the Phantom” pointed out, he reached his target and then started “monologuing,” as they say in The Incredibles….

I’m not blaming Floyd Corkins’s actions on the bullying twerps at the Southern Poverty Law Center or those thug Democrat mayors who tried to run Chick-fil-A out of Boston and Chicago. But I do think he’s the apotheosis of narcissistic leftist myopia. He symbolizes that exhaustion of the other possibilities — the dwindling down of latter-day liberalism to ever more self-indulgent distractions from the hard truths of a broke and ruined landscape. Our elites have sunk into a boutique decadence of moral preening entirely disconnected from reality: A non-homophobic chicken in every pot, an abortifacient dispenser in every Catholic university, a high-speed-rail corridor between every two bankrupt California municipalities.

Read the whole thing. Steyn once again notes the bankruptcy of modern liberalism and the Democratic Party, which — unless the American public rejects it — will lead to the bankruptcy of our country and probably the world.

Facing tight budgets, a National Science Foundation panel has recommended the shuttering of five major ground-based telescopes.

Facing tight budgets, a National Science Foundation panel has recommended the shuttering of five major ground-based telescopes.

Stay tuned for loud screams of outrage. However, some of these facilities have not been very useful for years. Consider the Robert C. Byrd Green Bank Radio Telescope. It was only rebuilt after it collapsed in 1988 because of the political clout of Senator Robert Byrd. By the time that reconstruction was finished, a process that took more than 20 years, the telescope was completely obsolete. Though it has done some good science, it is far outmatched by other radio telescope arrays.

Many of the facilities are funded merely due to bureaucratic and political inertia. For the astronomical community to be willing to recognize this is a good thing, for which they should be lauded.

Contrasting Paul Ryan with Barack Obama.

Contrasting Paul Ryan with Barack Obama.

The next month, both [budget] plans came to a vote in the Senate. Ryan’s budget lost on a party-line vote; Obama’s lost 0-97. Erskine Bowles, a former chief of staff to Bill Clinton, and Obama’s own appointee to the deficit-control panel whose recommendations Obama completely ignored in that budget proposal, told a University of North Carolina audience in September 2011 that Ryan had proposed “a sensible, straightforward, serious budget and it cut the budget deficit by $4 trillion.” In contrast, Bowles told the audience, “I don’t think anyone took [Obama’s] budget very seriously.”

In February 2012, Obama proposed yet another unserious budget that ignored all of the realities of our short- and long-term fiscal shortfalls, with yet another trillion-dollar deficit. Treasury Secretary Tim Geithner tried to tell Ryan and the House Budget Committee that Obama’s budget proposal would “stabilize” the deficits. This time, Ryan only needed four minutes to dismantle that argument, showing that Obama’s long-term budget only “stabilized” deficits for a decade, after which they escalated out of control — unlike Ryan’s long-term budget reforms, which solved the problem of escalating costs. “We’re not coming before you to say we have a definitive solution to our long-term problem,” Geithner finally exclaimed. “What we do know is we don’t like yours.”

Bluntly put, Obama has never been willing to propose anything that might solve the federal budget disaster, while Ryan has at least made an attempt.

“inadequate oversight, lax bookkeeping, sloppy paperwork, haphazard performance agreements and missing financial documentation.”

An inspector general’s report of the State Department’s climate change office has uncovered “inadequate oversight, lax bookkeeping, sloppy paperwork, haphazard performance agreements and missing financial documentation.”

Other than that, the Obama administration’s management of its climate research budget is just fine.

“Ignore the political prophets of doom – this is a golden age for the world.”

“Ignore the prophets of doom – this is a golden age for the world.”

Take global poverty, a subject we have heard plenty about from ministers justifying the £9 billion overseas aid budget. Britain has signed up to the so-called Millennium Development Goals, set in 2000 and accompanied by sermons from Gordon Brown about the “arc of the moral universe” bending towards justice. It was the beginning of boom times for the overseas aid industry, despite its woeful track record. The first goal was to halve the proportion of the world’s population living on a dollar a day by 2015 – an undeniably noble aim.

Earlier this year, the World Bank made an astonishing discovery: the target had actually been met in 2008, seven years ahead of schedule. This staggering achievement received no fanfare, perhaps because the miracle had not been created by Western governments but by the economic progress of China and India. Their embrace of capitalism had invited a flow of trade and investment, which was not halted by the crash. Capitalism meant that houses replaced mud huts and vast swathes of the Third World rose from their agrarian knees. British consumers buying cheap shirts in Asda were, in a very real sense, helping to make poverty history. [emphasis mine]

In other words, poor countries became wealthy by embracing freedom, not centralized government rule.

Sadly, the United States still faces economic disaster, and that is because, in the past half century, our culture abandoned its principles of freedom and capitalism and instead put our faith in big government. The result: we now face bankruptcy and economic collapse.

Landslide on the horizon.

Landslide on the horizon.

I lived through the 1980 election, the fall of the Berlin Wall, and the collapse of the Soviet Union, and I was struck at the time by the fact that next to no one among the political scientists who made a living out of studying presidential elections, communism in eastern Europe, and Sovietology saw any of these upheavals coming. Virtually all of them were caught flat-footed.

This is, in fact, what you would expect. They were all expert in the ordinary operations of a particular system, and within that framework they were pretty good at prognostication. But the apparent stability of the system had lured them into a species of false confidence – not unlike the false confidence that fairly often besets students of the stock market.

There were others, less expert in the particulars of these systems, who had a bit more distance and a bit more historical perspective and who saw it coming. The Soviet dissident Andrei Amalrik wrote a prescient book entitled Can the Soviet Union Survive 1984? Aleksandr Solzhenitsyn predicted communism’s imminent collapse, and Daniel Patrick Moynihan suspected that the Soviet Union would soon face a fatal crisis. They were aware that institutions and outlooks that are highly dysfunctional will eventually and unexpectedly dissolve.

In my opinion, none of the psephologists mentioned above has reflected on the degree to which the administrative entitlements state – envisaged by Woodrow Wilson and the Progressives, instituted by Franklin Delano Roosevelt, and expanded by their successors – has entered a crisis, and none of them is sensitive to the manner in which Barack Obama, in his audacity, has unmasked that state’s tyrannical propensities and its bankruptcy. In consequence, none of these psephologists has reflected adequately on the significance of the emergence of the Tea-Party Movement, on the meaning of Scott Brown’s election and the particular context within which he was elected, on the election of Chris Christie as Governor of New Jersey and of Bob McDonnell as Governor of Virginia, and on the political earthquake that took place in November, 2010. That earthquake, which gave the Republicans a strength at the state and local level that they have not enjoyed since 1928, is a harbinger of what we will see this November.

I agree. However, the author misses one point. There is no guarantee that the American public will vote rationally. Obama might still win. However, the big government welfare state that he and the left believe in is still bankrupt and about to fall apart, no matter what happens in November. The only real question is whether we will honestly face the disaster brewing before us and begin the process of fixing it now, or we will make believe it isn’t there and allow it to overwhelm us in its collapse.

Either way, the federal government is about to go bankrupt, and if we don’t do something about it that bankruptcy will take everything else down with it.

The scramble in Congress to head the House committee on Space, Science, and Technology after November’s election has begun.

The scramble in Congress to head the House committee on space after November’s election has begun.

Rep. Dana Rohrabacher (R-CA) and Rep. Lamar Smith (R-TX) have begun to quietly campaign to replace Rep. Ralph Hall as chairman of the House Committee on Science, Space and Technology next year, according to Stu Witt, General Manager and CEO of the Mojave Air and Space Port.

If Rohrabacher gets the chairmanship it will be very be good news for commercial space, and bad news for the NASA-built and very expensive Space Launch System (SLS). He has been a strong supporter of private space, and will likely want to funnel money to it from SLS.

I’m not sure giving private space more cash is necessarily a good thing, as that will encourage these new companies to be less efficient, more expensive, and more dependent on the government. However, getting SLS shut down will certainly help the federal budget deficit.

“Washington may have the healthiest economy of any major metropolitan area in the country.”

I wonder why? “Washington [DC] may have the healthiest economy of any major metropolitan area in the country.”

The New York Times article has one explanation:

The main lesson the rest of the country should take from the capital’s prosperity is, per Leonhardt, that “education matters.” D.C.’s “high-skill” economy boasts more college degrees than any other major metropolitan area in America. “If you wanted to imagine what the economy might look like if the country were much better educated,” Leonhardt writes, “you can look at Washington.”

The fact that the federal government is spending trillions of dollars, mostly in Washington, DC, is apparently only a side show to this New York Times reporter.

The Democrats in the Senate have passed their tax plan.

The Democrats in the Senate have passed their tax plan, extending the Bush tax rates for families making under $250,000 for one year while allowing the rates for families earning above $250,000 to expire.

The big Democratic claim has been that in order to balance the budget richer people have to pay more of their fair share. Okay, so now they’ve made their point by law. If I were the Republicans I’d accept it, since we all know that this tax increase on higher income taxpayers will do nothing to lower the deficit. We could raise the tax rate for anyone earning more than $250K to 100 percent and we would still have a gigantic yearly deficit.

What will the Democrats next claim when this tax increase fails? It won’t matter. The problem is spending, and the failure of this tax plan will further demonstrate that point. The federal government has to learn to live within its means.

“The suspicions that the system is rigged in favor of the largest banks and their elites, so they play by their own set of rules to the disfavor of the taxpayers who funded their bailout, are true.”

From the man whose job it was to police the $700 billion TARP bailout:

The suspicions that the system is rigged in favor of the largest banks and their elites, so they play by their own set of rules to the disfavor of the taxpayers who funded their bailout, are true.

The regulatory culture of the banking industry that this book describes possibiy explains why Jon Corzine has not yet been prosecuted. Regulators and prosecutors are afraid to proceed out of fear of hurting their careers.

Worse, Barofsky describes a banking regulatory system that is still in place, and is therefore ripe for another collapse. No wonder the tea party movement was born out of outrage over TARP and the bank bailout, and is still growing.

A proposal by three Republican senators to avoid a “lame-duck looting session” after the November election.

A proposal by three Republican senators to avoid a “lame-duck looting session” after the November election.

DeMint, Graham and Johnson want their House GOP counterparts to act before the August recess to fund the government through early next year. That would avoid the threat of a government shutdown before Sept. 30 and leave it in the hands of a new Congress and, perhaps, a new president.

What a concept! A proposal that the present Congress do its job now, rather than wait.

At least 80 House Republicans have signed a letter demanding that Speaker John Boehner (R-Ohio) block any further funding of Obamacare.

At least 80 House Republicans have signed a letter demanding that Speaker John Boehner (R-Ohio) block any further funding of Obamacare.

This story illustrates two things. First, the House Republican leadership has been timid about using its power to block the implementation of Obamacare, even though the public clearly wants it blocked. Second, that about a third of the House Republican membership has already signed the letter, with more signatures expected, suggests that the bulk of the Republican Party is not as timid as their leadership. Moreover, I expect the November election to significantly strengthen this fiscally conservative trend.

Thus, it will not surprise me if we see some very radical budget cuts in the next Congress.

Another dismal jobs report.

Another dismal jobs report.

Job growth amounted to a disappointing 80,000, below analyst expectations of 90-100K, while the jobless rate remained the same at 8.2%:

Read the whole article. There’s a lot more, all of its depressing and trending downward.

While no President should be blamed entirely for the unemployment numbers, the policies of any President do have a direct influence on those numbers, and should bear some responsibility, especially in this era where we have ceded so much power to the federal government. Consider this graph (below the fold), which shows the “total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force.” The steep upward swing, beginning in 2008, sadly corresponds too closely with the beginnings of the Obama administration. And it is with this administration that we have seen the worst deficits, the most regulation, and the biggest increase in the power of government in our lifetimes. It is thus no surprise the economy has crumbled.
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A Tea Party event today in Tucson

Last week I received an email from the local Tucson tea party, asking if I would be willing to attend a demonstration today in response to last week’s Supreme Court decision on Obamacare. To quote the email,

We would like to stage two simultaneous protests against the train wreck they call ObamaCare, at two separate locations Monday July 2nd, 4:00pm-5:45pm. 75 people at both locations are needed to make the necessary impact. They say the Tea Party is dead. What say ye? We need your commitment.

Today those protests took place at two different prominent street corners in the Tucson area. At each location there were about fifty people lining the sidewalk and holding signs and American flags out to passing motorists. My wife Diane and I went to one of those protests. Here are my impressions:
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NASA today unveiled for the press the Orion capsule scheduled for the program’s first test flight in 2014.

NASA today unveiled for the press the Orion capsule scheduled for the program’s first test flight in 2014.

Today’s unveiling was essentially a PR event designed to boost political support for the Space Launch System (SLS) and the Orion capsule program. And though we should definitely give kudos to Lockheed Martin for its progress on Orion, it is also important to note that the building of this capsule took 8 years and about $6.5 billion. And it won’t go into space for still another two years at best. Compare that to SpaceX’s Dragon, which took about four years from concept to launch, with a cost of about $1 billion.

It is this contrast that is worrying the political supporters of SLS and Orion. Consider for example this quote from the above article:

But the Orion schedule assumes steady funding by Congress, which is an open question given the current debate over federal budget deficits, taxes and a general push to reduce federal spending. “We have to be concerned about that because we are in an era of government spending where you have to do more with a limited amount,” Nelson said. “That, of course, is going to be one of the main things we’re going to have to look at in the future.” [emphasis mine]

Nelson has been a big backer of SLS from the moment Congress decided to force it down NASA’s throat. It is very clear from his comments above however that he recognizes the political difficulties that this very expensive program faces.

As I’ve said before, I expect SLS to die sometime in the next three years. Faced with a ungodly federal deficit, the next Congress is going to look for ways to save money and — assuming the commercial space companies like SpaceX continue to have success — Congress will see this program as one of those ways.

The Dodd-Frank downgrade.

The Dodd-Frank downgrade.

What comes through in the Moody’s assessment [the credit-rating downgrade of 15 banks] and in any review of their returns on equity is that banks have lost significant ability to generate earnings to offset the inevitable losses. The lost earnings power is surely due in part to reduced leverage, which helps protects taxpayers.

But 2,300 pages of Dodd-Frank and countless other federal efforts to put sand in the financial gears are also taking their toll. The Obama tax and regulatory frenzy, of which Dodd-Frank is a part, weighs on economic growth. Those are our words, not Moody’s, but the rating agency does note that the abysmal economic environment is a drag on ratings for everyone.

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