Funding for final shuttle flight assured
Funding for the final shuttle flight this summer is now assured.
Funding for the final shuttle flight this summer is now assured.
Funding for the final shuttle flight this summer is now assured.
Time is running out: Federal borrowing is on a pace to reach the debt limit in less than a week.
The investigation of doctors who issued fake sick notes to union protesters in Wisconsin goes forward.
Time is truly running out: The federal government’s cash handouts to all households now exceed what those households pay in tax.
Sounds crazy, but it’s true: The budget chaos at NASA has caused the ESA to halt work on its own Mars orbiter and rover.
More on the incredibly shrinking Orion program.
It ain’t gonna fly, and if I’m wrong and it does, it will accomplish little in the process — except spend a lot of pork money we no longer can afford.
Our government at work: Red superhero capes for the unemployed!
NASA has awarded the next set of commercial crew development agreements, giving contracts worth from $22 to $92 million to four companies, Blue Origin, Sierra Nevada, SpaceX, and Boeing. More here and here.
The amounts that NASA is giving these companies is minuscule, compared the monies spent on the program-formerly-called-Constellation. Yet I bet they all get their rockets/capsules launched and in operation, supplying cargos and crews to low Earth orbit, before NASA even test fires its heavy-lift rocket.
Surprise! NASA administrator Charles Bolden told lawmakers on Monday that with the new budget the Orion capsule had to be scaled back somehow.
Watch over the next few years as Orion and the new heavy-lift vehicle (the program-formerly-called-Constellation) slowly evaporate, even as both cost us billions in money we no longer can afford.
The pigs win: Funding for the IPCC restored to budget in 2011 budget deal.
No deal. Key quote:
If Democrats are not going to do even minor surgery on Medicare and Medicaid and Republicans are not going to raise taxes, there is no hope of big budget deal to cut a deficit now running at 11 percent of gross domestic product.
And that raises another question. How long can the Federal Reserve continue financing these deficits? China, choking on U.S. debt, is reportedly beginning to divest itself of U.S. bonds. Japan will need to sell U.S. bonds to get hard currency to repair the damage from the earthquake and tsunami. And the Fed is about to end its QE2 monthly purchases of $100 billion in U.S. bonds. Where is the Fed going to borrow the $125 billion a month to finance this year’s deficit of $1.65 trillion, and another of comparable size in 2012? Bill Gross’ Pimco, the world’s largest bond fund, has sold all his U.S. bonds and begun to short U.S. debt. Pimco is betting that the value of U.S. Treasury bonds will begin to fall.
We may be about to enter a maelstrom.
With substantial numbers of Republicans and Democrats voting against, the House today nonetheless approved last week’s budget deal for the 2011 fiscal year by a vote of 260-167.
Next important deadline: on May 16 or so the federal government should reach its debt limit.
A revolt on the right over budget deal?
“There is a gut feeling in some quarters today that the Boehner-Obama deal could be in bigger trouble than anybody realizes.”
Because it is often claimed that we can solve our federal budget problems by closing loopholes and increasing taxes on the wealthy, I thought I’d share this video from Bill Whittle, dramatizing this Iowahawk essay.
We can argue all day about whether we should increase taxes on the wealthy, but that is not going to solve our debt problem. Even if we confiscated every penny of profit from every person or corporation earning more than million dollars a year, we would still not make the slightest dent in the federal deficit.
Our federal government is simply spending money it doesn’t have. We need to cut spending, and cut spending drastically, in order to gain some control over this problem.
Unfortunately, it doesn’t appear to me the American people or Congress are yet willing to face this fact.
The pig squeals at NOAA: The agency’s administrator told Congress yesterday that the 2011 budget deal will cause great harm to weather monitoring.
Note that NOAA is getting $4.5 billion in the 2011 budget, $700 million more than the weather agency got in 2008.
Only in Washington is a budget increase of almost 20 percent in three years called a draconian cut.
The telescope that ate astronomy: More budget problems for the James Webb Space Telescope, with its launch likely delayed again until 2018.
They really do think we are all fools: Last week’s budget deal actually cuts this year’s deficit by only $352 million, not $38 billion, according to the Congressional Budget Office.
And they might be right.
Tone deaf: The day before tax day, Obama is expected tonight to call for more tax increases.
More here about what Obama is proposing.
I meanwhile ask this obvious question: Why didn’t Obama make this proposal in his earlier budget proposals? Could it be that he isn’t serious, and is simply responding to the pressure he is getting from the right?
As I have been traveling for the past week, I have fallen behind in posting stories of interest. Two occurred in the past week that are of importance. Rather than give a long list of multiple links, here is a quick summary:
First, NASA administrator Charles Bolden yesterday announced the museum locations that will receive the retired shuttles. I find it very interesting that the Obama administration decided to snub Houston and flyover country for a California museum. In fact, all the shuttles seem to be going to strong Democratic strongholds. Does this suggest a bit of partisanship on this administration’s part? I don’t know. What I do know is that it illustrates again the politically tone-deaf nature of this administration, especially in choosing the fiftieth anniversary of Yuri Gagarin’s spaceflight to make this sad announcement.
Second, the new budget deal (still pending) included NASA’s budget, with cuts. While requiring NASA to build a super-duper heavy-lift rocket (the program-formerly-called-Constellation) for less money and in less time than was previously allocated to Constellation, the budget also frees NASA from the rules requiring them to continue building Constellation. Since the Obama administration has no interest in building the super-duper heavy-lift rocket and has said it can’t be done, I expect they will use the elimination of this rule to slowdown work on the heavy-lift rocket. I expect that later budget negotiations will find this heavy-lift rocket an easy target for elimination, especially when it becomes obvious it is not going to get built.
» Read more
Some details on the $38 billion budget deal.
Overall, it looks like more of the same, gimmicks disguised as budget cuts. Nonetheless, considering that most of government is still controlled by status quo spenders — in both parties — the deal is still a good one, as it clearly sets that political tone for the future: budget cuts and more budget cuts.
The fat lady hasn’t sung yet: The budget deal fine print is “still under negotiation.”
A government shutdown is averted as congressional leaders have reached an agreement on a budget deal. Here’s some analysis of the political ramifications.
A government shutdown would idle all but 500 NASA workers.
Leftwing civility: “Let’s dump trash at Boehner’s pad.”
NASA, crunched for money due to overages on James Webb Space Telescope, has cancelled its participation in the space gravitational wave mission LISA.
Two Americas: public vs. private. The graph illustrates our nation’s problems quite clearly.
After much fussing in the vote-counting process, the conservative judge has won in Wisconsin. This probably ends the debate over the union law passed last month, which will now become law.