Tag: budget

New California law will require workers’ compensation benefits, rest and meal breaks and paid vacation time for…babysitters

10:26 am

Why no one should want to live in California: A new proposed law there would require workers’ compensation benefits, rest and meal breaks and paid vacation time for babysitters.

Under AB 889, household “employers” (aka “parents”) who hire a babysitter on a Friday night will be legally obligated to pay at least minimum wage to any sitter over the age of 18 (unless it is a family member), provide a substitute caregiver every two hours to cover rest and meal breaks, in addition to workers’ compensation coverage, overtime pay, and a meticulously calculated timecard/paycheck.

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The space shuttle program officially ended on Wednesday

9:23 am

The space shuttle program officially ended on Wednesday. Note however:

Closeout of the shuttle program is an enormous effort expected to take two years. The program occupied 640 facilities and used more than 900,000 pieces of equipment with a value exceeding $12 billion, according to NASA. Much of the work will take place at Kennedy Space Center, where orbiters have been maintained and prepared for launch. NASA requested $89 million for shuttle transition and retirement work in the 2012 fiscal year that begins Oct. 1, but Congress has not yet approved a budget.

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The immediate consequences of the Progress freighter failure

1:46 pm

The immediate consequences of the Progress freighter failure:

The longer term consequences? Congress will anguish over the lack of a shuttle. Some will demand more money for the program-formerly-called-Constellation, while others will demand more money for the new commercial companies. In either case, they will ignore the reality of a bankrupt federal government that simply can’t afford either at the moment.

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Budget Office: this year’s deficit to hit $1.28 Trillion

11:11 am

According to the Congressional Budget Office, this year’s deficit will be about $1.28 trillion, the third highest deficit in history, exceeded only by the previous two budgets of the Obama administration.

Note also that any cuts mentioned in the above article are not cuts, merely reductions in the overall growth of government. (Another example of a journalist lying for the government.) All told, the federal government will still continue to grow in the next few years at a pace that far exceeds inflation, the economy, or anything you can imagine in the real world.

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NASA’s costs estimates too low for Congress’s heavy-lift rocket

9:55 am

Surprise, surprise! An independent analysis of NASA’s budget estimates to build Congress’s heavy-lift rocket, the program-formerly-called-Constellation, are untrustworthy and likely low.

“All three program estimates assume large, unsubstantiated, future cost efficiencies leading to the impression that they are optimistic,” the team said in its key findings. A risk assessment revealed the funding reserves projected for all three programs are insufficient, according to Booz Allen Hamilton. NASA has not disclosed its internal cost estimate for the Space Launch System. “Due to procurement of items still in development and large cost risks in the out years, NASA cannot have full confidence in the estimates for long-term planning,” the executive summary said.

This project is nothing more than Congressional pork. It will never get built. Sadly, it might waste a lot of money before it never gets built.

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One man’s response to Obama’s demand that taxes on the rich be raised

10:00 pm

One man’s response to Obama’s demand that taxes on the rich be raised.

I deeply resent that President Obama has decided that I don’t need all the money I’ve not paid in taxes over the years, or that I should leave less for my children and grandchildren and give more to him to spend as he thinks fit.

and

Governments have an obligation to spend our tax money on programs that work. They fail at this fundamental task. Do we really need dozens of retraining programs with no measure of performance or results? Do we really need to spend money on solar panels, windmills and battery-operated cars when we have ample energy supplies in this country? Do we really need all the regulations that put an estimated $2 trillion burden on our economy by raising the price of things we buy? Do we really need subsidies for domestic sugar farmers and ethanol producers?

Read the whole thing.

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The new commercial space companies question NASA contracting policies

3:02 pm

The new commercial space companies are challenging NASA’s new contracting policy.

The article covers the conflict that I described in this post, whereby NASA is abandoning the more flexible contracting approach used for the commercial cargo contracts of SpaceX and Orbital Sciences and going instead with the contracting system it used for all past NASA subcontracts.

The article is errs badly when it calls the new contracting approach that NASA wants to use “non-traditional.” It is instead the way NASA has been doing things for decades, whereby the agency takes full control of everything and requires contractors to fill out so much paperwork that the costs double and triple.

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Did Obamacare cause the economic collapse

6:56 pm

“The elephant in the room.”

By the spring of 2010, private sector job growth turned positive. In April job growth increased to 230,000 net private-sector jobs. The economy appeared on track for a normal recovery from an awful recession. The administration began confidently predicting a “Recovery Summer.” But Recovery Summer fizzled instead of sizzled. In May private sector job growth dropped sharply to less than 50,000 net jobs. Thereafter, monthly improvement in private job growth averaged just 6,500 jobs.

What else happened in the spring of 2010? Despite obstacles that many believed would kill the bill, Congress passed the Affordable Care Act. Within two months, the trend in job growth dropped sharply. Monthly job creation had been on pace to top out in the hundreds of thousands. Post-Affordable Care Act, it has barely kept pace with population growth. [emphasis mine]

and

The health-care measure raises business costs and makes planning for the future more difficult. It should be expected to slow hiring.

Federal Reserve officials report that the law has had exactly this effect. Dennis Lockhart, president of the Atlanta Fed, reports that “prominent among these (factors businesses explain are impeding hiring) is the lack of clarity about the cost implications of the recent health care legislation. We’ve frequently heard strong comments to the effect of ‘my company won’t hire a single additional worker until we know what health insurance costs are going to be.'” Surveys bear out these warnings. In a recent poll one-third of small business owners identified the healthcare bill as one of their top two obstacles to hiring. [emphasis mine]

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66 Percent of CEOs Plan to Freeze or Downsize Workforce Size

10:13 pm

Two-thirds of the country’s CEOs plan to freeze or downsize their workforce over the next year, according to a new survey.

“As I approach my 44th year in business, the last 20 as CEO, I can never remember a time when I felt so disenfranchised from our leadership in Washington. They seem determined to continue their ongoing anti-business attitude and to frustrate small and mid-sized businesses by uncertainty on taxes, government regulations, and simply too many bureaucratic restrictions. We desperately need a change in Washington.”

I guarantee that much of this reluctance to hire stems from uncertainty and fear of Obamacare and the regulations it brings.

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The job boom for government regulators under Obama

3:06 pm

The chart of the day, from John Merlune at Investor’s Business Daily:

Boom in jobs for regulators

Merlune’s article outlines in frightening detail how there has been a job boom in only one place during the Obama administration, the government regulatory industry.

Regulatory agencies have seen their combined budgets grow a healthy 16% since 2008, topping $54 billion, according to the annual “Regulator’s Budget,” compiled by George Washington University and Washington University in St. Louis. That’s at a time when the overall economy grew a paltry 5%.

Meanwhile, employment at these agencies has climbed 13% since Obama took office to more than 281,000, while private-sector jobs shrank by 5.6%.

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Making hard choices

2:27 pm

A new poll shows that the congressional special election to replace Anthony Weiner in the traditionally Democratic district in Queens/Brooklyn, New York is surprisingly competitive.

The poll found [Democrat] Weprin, a state assemblyman, leading [Republican] Turner, a retired broadcasting executive, 48 percent to 42 percent in the race for the Democratic-friendly Queens and Brooklyn-area seat.

Two thoughts: First, this poll fits with another that shows for the first time a majority of adults don’t want their own Congressman reelected. If so, it shouldn’t be surprising that the Democrat appears so weak in Brooklyn/Queens, a place I lived for most of my life and a place I found to be so knee-jerk Democrat that you couldn’t admit to being Republican without risking being blacklisted from all things.

Second, despite the mess the federal government is in as well as the disgraceful scandal that caused the previously elected Democratic Congressman to resign, it is also not surprising that 48 percent of the population still wants to vote Democrat in this district. This is my biggest fear: the continuing unwillingness of too many Americans to honestly face our government’s budget problems.
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2012 is gonna be nasty

9:33 am

2012 is gonna be nasty.

There’s no doubt that we’re in for a high level of personal nastiness and invective. This election is not going to be about some minor adjustment to spending, or some trifling adjustment of tax rates, or some nibbling at the edges of the regulatory state. What is at stake in the 2012 election is the continuation of a world-view; a political philosophy that sees ever-larger government as the cure to whatever ails us. This next election is the first big battle for the survival of that worldview as the majority view of the political class, or the survival of the insurgent TEA party idea that government has become to large, too intrusive, and too expensive, so therefore must be radically reduced. There is little room to compromise between these two visions of government. Indeed, in most ways, they are worldviews that are mutually exclusive. Over the next decade or so, we are going to learn which of these two views will prevail, and if the US, as presently composed, will remain a united polity.

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