Tag: budget

NASA has delayed the first test flight of Orion’s launch abort system by two years to 2017.

9:08 am

NASA has delayed the first test flight of Orion’s launch abort system by two years to 2017.

NASA officials have been warning since last year that work on Orion would be slowed to keep pace with the development of SLS and its launch infrastructure. The agency has proposed trimming Orion’s $1.2 billion budget back to $1 billion for 2013. With the high-altitude abort test facing at least a budget-driven delay, the Langley team has proposed conducting one or more less-expensive tests in its place. Ortiz said conducting a hot-fire test in 2015 or 2016 would “keep the [launch abort system] project moving forward and help alleviate risk.”

I predict that Dragon will not only test its launch abort system first, it will have humans flying on it before Orion. And Dragon will do this for a fraction of the total cost that Orion and SLS spend per year. I also predict that when Dragon does this, Congress will finally begin noticing this disparity, and SLS will die unlaunched.

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The Social Security Trust Fund will start losing value in 2013.

3:19 pm

The day of reckoning looms: The Social Security Trust Fund will start losing value in 2013, not 2020 as claimed.

In 2010, Social Security’s Office of the Chief Actuary projected that this interest income would keep the trust fund growing in real value through 2020. The 2011 projections moved this date to 2018, and the recently released 2012 projections pushed the date to 2012, meaning that the trust fund will start declining in real value next year. After 2013, the trust fund is projected to decline by greater amounts each year until becoming exhausted in 2033.

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The empty bench of the Democratic Party.

4:03 pm

The empty bench of the Democratic Party.

In comparing the potential Presidential candidates from both the Democrat and Republican parties, this article leaves one with the impression that the future is definitely not with the Democratic Party. As admitted by its own membership, its leadership is old, it has very few candidates with national stature, and the depth of the party is shallower than a pond in Tucson in summer. Meanwhile, the Republicans have many young new faces that already have national standing.

Though the article likes to blame this situation on internal forces within the parties, I see it as the result of actual elections and the circumstances of the time. The Democrats have increasingly appeared bankrupt when it comes to dealing with today’s fundamental problems, especially the out-of-control spending of government at all levels. Meanwhile, Republican candidates, especially those associated with the tea party movement, have come forward with some fresh, reasonable, and thoughtful ideas for dealing with these problems.

Faced with such a choice, it is not surprising that the Republicans have a deep bench compared to the Democrats.

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The House yesterday proposed a spending bill that would cut the EPA’s budget to $7 billion, 17% less than what it received in 2012.

3:09 pm

Progress: The House yesterday proposed a spending bill that would cut the EPA’s budget to $7 billion, 17% less than what it received in 2012.

Considering the federal debt, this is a reasonable cut, as a $7 billion budget would be comparable to the EPA’s budget numbers in the early 2000s, and would hardly cripple that agency.

On a more depressing note, the Senate is moving forward on a bi-partisan deal to pass a massive farm bill, loaded with pork that would spend almost a trillion dollars over the next decade.

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Spending money on silliness at the NSF and NIH

9:43 am

Your tax dollars at work: Spending money on silliness at the NSF and NIH.

Coburn’s report identified a number of projects that will make most Americans—scientists and nonscientists alike—shake their heads. They include studies of: how to ride a bike; when dogs became man’s best friend; whether political views are genetically predetermined; whether parents choose trendy baby names; and when the best time is to buy a ticket to a sold-out sporting event. And it noted that “only politicians appear to benefit from other NSF studies, such as research on what motivates individuals to make political donations, how politicians can benefit from Internet town halls…and how politicians use the Internet.”

Read the whole thing, as it gives a scientist’s perspective of this waste, which is sometimes not as obvious as the examples above.

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The debt of the federal government is projected to be nearly twice the size of the U.S. economy by 2037, the Congressional Budget Office (CBO) announced Tuesday.

10:26 am

The day of reckoning looms: The debt of the federal government is projected to be nearly twice the size of the U.S. economy by 2037, the Congressional Budget Office announced Tuesday.

This CBO report actually supposed to be encouraging, as it indicates that the day of doom has been pushed back a whopping two years! Yowza! Let’s pop the corks on the champagne bottles and start celebrating!

Sadly, the article also has this ridiculous quote:

CBO’s latest prediction is similar to its 2011 report despite the $2.1 trillion in budget cuts enacted in last August’s debt-ceiling deal between the White House and Congress.

Nothing was cut by that deal. All they did was trim the rate of growth. For any journalist to continue to participate in this fraud is sickening.

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An economy built to stall

8:48 pm

“An economy built to stall.”

In his first two years in office, Democrats gave Mr. Obama everything he wanted, save for cap and trade and union card-check, which would have done even more harm to job creation. They passed stimulus, ObamaCare, multiple housing bailouts, Dodd-Frank and more.

Even after Republicans took the House, they gave Mr. Obama the payroll tax holiday he demanded first for 2011 and again for 2012. Far from some new fiscal “austerity,” overall federal spending hasn’t declined. Meanwhile, the Federal Reserve has delivered monetary stimulus after stimulus—QE I, QE II, Operation Twist, and 42 months of near-zero interest rates with the promise of 30 months more.

Mr. Obama has had the freest run of policy of any President since LBJ. So maybe the problem is the policies.

Maybe Milton Friedman was right that “temporary, targeted” tax cuts don’t change the incentives to invest or hire because people aren’t stupid. Maybe each $1 of new federal spending doesn’t produce a “multiplier” of 1.5 times that in added output. Maybe the historic burst of regulation of the last three years has harmed business confidence and job creation. And maybe the uncertainty that comes from helter-skelter fiscal and monetary policy has dampened the animal spirits needed for a durable expansion.

As I said yesterday, though no president or Congress is entirely to blame for the state of the economy, they both can do great harm if they make decisions that interfere with the freedom of the market. And sadly, having the government interfere with the freedom of the market has been Obama’s mantra since the day he took office.

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Not good: The Labor Department announced today that the U.S. economy only added 69 thousand jobs in May, the fewest in a year.

10:39 am

Not good: The Labor Department announced today that the U.S. economy only added 69,000 jobs in May, the fewest in a year.

The unemployment rate went up slightly as well, Labor also adjusted downward the number of jobs created in the past two months to terribly comparable numbers.

While no president is ever entirely responsible for the state of the economy, Barack Obama’s policies have certainly done significant harm. High regulation, Obamacare, and a clear hostility to private enterprise in all fields except space exploration has helped produce what appears to be the longest period with a floundering economy in my lifetime.

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Two Democrats joined Republicans yesterday on a Senate committee to block the U.S. military from increasing its use of alternatives fossil fuels.

2:52 pm

Two Democrats joined Republicans yesterday on a Senate committee to block the U.S. military from increasing its use of alternatives fossil fuels.

What stood out to me in this article was the following quote:

As part of this support, in December the Navy agreed to spend $12 million for 450,000 gallons of “advanced biofuels,” which can be blended with petroleum in a 50:50 mixture and burned in conventional engines. The Navy and Air Force have both set a goal of using advanced biofuels for 50% of their fuel use by the end of this decade. But the current $26-a-gallon price tag angered congressional Republicans, who accuse the Obama Administration of using the military to support its green agenda. [emphasis mine]

$26 per gallon for biofuels? I find it astonishing that anyone voted for this program.

Of course the military wants options. And of course we want to reduce our dependence on fossil fuels, if only to reduce the money pouring into the hands of the radical Islamists of the Middle East. But at that price, these alternative fuels are simply not competitive or affordable.

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Using the budget balancing rules Congress imposed on private companies, the federal deficit turns out to be five times greater than the official but fake numbers Congress normally publishes.

10:11 am

The day of reckoning looms: Using the budget balancing rules Congress imposed on private companies, the annual federal deficit turns out to be five times greater than the official but fake numbers Congress normally publishes.

The big difference between the official deficit and standard accounting: Congress exempts itself from including the cost of promised retirement benefits. Yet companies, states and local governments must include retirement commitments in financial statements, as required by federal law and private boards that set accounting rules.

The deficit was $5 trillion last year under those rules. The official number was $1.3 trillion. Liabilities for Social Security, Medicare and other retirement programs rose by $3.7 trillion in 2011, according to government actuaries, but the amount was not registered on the government’s books.

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Four Princeton physicists received over $1.5 million in lodging subsidies from the Department of Energy while on “temporary” assignment to other labs, even after living at that assigment for as much as 14 years.

12:00 pm

The work is good if you can get it: Four Princeton physicists received over $1.5 million in lodging subsidies from the Department of Energy while on “temporary” assignment to other labs, even after living at that assignment for as much as 14 years.

The above story, from Science, takes a more sympathic view of this misuse of government funds. The Washington Post is more blunt:

Four high-ranking federal lab workers found a way to turn “per diem” funds for a temporary assignment into a steady flow of extra income — at taxpayers’ expense. The overpayments, discovered in an inspector general’s audit, boosted the annual pay of some of the employees by as much as $64,000.

The Department of Energy paid the four scientists roughly $1.8 million for daily lodging and “inconvenience” during assignments away from home. But these scientists were paid as if they were on temporary duty for up to 14 years — long after most had permanently relocated to job sites.

The problem with this story is that it isn’t an exception but the rule. Right now the wolves are guarding the chicken house, and they are raiding it routinely for as much cash as they can get. Consider for example last week’s story about the NIH study that has spent a billion dollars without even getting off the ground.

You give someone the equivalent of a blank check, and they will make no effort to do things efficiently, or even to do what you hired them for.

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“If the quality of the Administration’s economic analysis hadn’t already proven to be nearly worthless the discrepancy here would be stunning.”

9:22 am

“If the quality of the Administration’s economic analysis hadn’t already proven to be nearly worthless the discrepancy here would be stunning.”

The discrepancy refers to a claim made by the Obama administration about one benefit of Obamacare, compared to the reality of what has actually happened.

It is time to repeal this disaster of a law. We should also fire the politicians who foisted it on us.

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The federal judges in the Ninth Circuit plan to hold a conference in Hawaii this August that could cost $1 million or more, and will include a golf tournament, a tennis tournament, an ice cream social, a garden tour, sport fishing, yoga, surfing lessons, and Zumba dancing lessons.

9:02 am

Our federal government at work: The federal judges in the Ninth Circuit plan to hold a conference in Hawaii this August that could cost $1 million or more, and will include a golf tournament, a tennis tournament, an ice cream social, a garden tour, sport fishing, yoga, surfing lessons, and Zumba dancing lessons.

Though many of these recreational events are supposingly not being paid for by government funds, there is something rotten here, without doubt. I’ve been to too many of these kinds of conferences as a journalist, and saw millions wasted for the entertainment of government employees. And in this case, the government is getting them to Hawaii.

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Only 65% of the political class and only 61% of Democrats are aware that federal spending has gone up in the past ten years.

1:58 pm

Pitiful: Only 65% of the political class and only 61% of Democrats are aware that federal spending has gone up in the past ten years.

Interestingly, 85% of the general public knows this basic fact, which might explain why the intellectual elites of our country — from both parties — are continually being blindsided by the rise of the tea party movement and its continued success in elections.

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Shut it down

8:25 am

Our government in action: An NIH nationwide study to track hundreds of thousands of children from birth to age 21 is wracked with budget and management problems.

All told, this study has already cost the taxpayers almost a billion dollars for the enrollment of only 4,000 children, not the 100,000 envisioned. That’s about $250,000 per child, an amount that seems incredibly high.

In addition to the above problems, it appears there are scientific ones as well:
» Read more

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Senator Bill Nelson (D-Florida) on Monday attacked the House version of NASA’s budget that required the agency to make a quick decision on its commercial manned launch company.

5:37 pm

Senator Bill Nelson (D-Florida) on Monday attacked the House version of NASA’s budget that required the agency to make a quick decision on its commercial manned launch company.

Nelson faces a difficult election campaign from the right. Thus, I suspect he has realized that he is better off promoting free enterprise than local pork. It is unfortunate that the Republicans in the House haven’t yet realized this.

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A trend, not a fluke: Indiana Republicans dump Senator Richard Lugar for a tea party favorite.

8:43 pm

A trend, not a fluke: Indiana Republicans have dumped incumbent Senator Richard Lugar for a tea party favorite.

In related news, a prison inmate has gotten the highest percentage of votes, 40 percent, of any candidate in any previous state primary against Barack Obama.

Washington politicians had better stop ignoring the fiscal concerns of the tea party. The federal budget has got to be brought under control.

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