Tag: budget

Russia Speeds Up Moon, Mars Plans as U.S. May Cut Spending

9:58 am

Russia is accelerating its space program.

“It is the first time that the government has allocated decent financing to us,” Anatoly Perminov, head of the Russian space agency Roscosmos, said in a phone interview on April 2. The agency’s $3.5 billion budget for 2011 has almost tripled since 2007, reaching the highest since the collapse of the Soviet Union in 1991. “We can now advance on all themes a bit,” Perminov said.

Unlike 50 years ago, when beating the U.S. into space marked a geopolitical victory in the Cold War, Russia is focusing on the commercial, technological and scientific aspects of space travel. President Dmitry Medvedev has named aerospace one of five industries the government plans to nurture to help diversify the economy of the world’s largest energy supplier away from resource extraction.

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GOP 2012 budget to make $4 trillion-plus in cuts

2:07 pm

It’s a start, though it really isn’t enough: the Republican 2012 budget will call for $4 trillion-plus in cuts over the next decade.

Ryan said Obama’s call for freezing nondefense discretionary spending actually locks in spending at high levels. Under the forthcoming GOP plan, Ryan said spending would return to 2008 levels and thus cut an additional $400 billion over 10 years. [emphasis mine]

Note that no one was starving and children weren’t dying for lack of federal spending in 2008.

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Nearly $2 billion already paid to unions, state public employee systems, and big corporations under Obamacare

9:06 am

This idiotic thing has got to be repealed: Nearly $2 billion already paid to unions, state public employee systems, and big corporations under Obamacare.

The program began making payouts on June 1, 2010. Between that date and the end of 2010, it paid out about $535 million dollars. But according to the new report, the rate of spending has since increased dramatically, to about $1.3 billion just for the first two and a half months of this year. At that rate, it could burn through the entire $5 billion appropriation as early as 2012. [emphasis mine]

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Going Broke: Treasury Down to $58.6B in Cash, $130.5B Borrowing Authority

10:41 pm

The reckoning is about to arrive: The federal treasury is down to $58.6 billion in cash with only $130.5 billion in borrowing authority.

Meanwhile former Democratic operative George Stephanopoulos reports that a tentative deal between the parties in Congress will finalize the cuts from last year’s budget at $33 billion.

As I said, the reckoning is about to arrive.

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