The day of reckoning looms: The overall debt from student loans now exceeds $1 trillion, with defaults skyrocketing. The solution from one Democratic Congressman: a $1 trillion bailout. More here.
“1,200 days and $5 trillion in new debt since Senate Democrats passed a budget.”
An annual budget is required by law. Harry Reid’s answer: “It would be foolish for us to do a budget at this stage.” And what do the American people do? They reward the Democrats, providing proof positive that we are in very bad shape and heading for disaster.
The day of reckoning looms: The federal government’s debt ceiling will be reached no later than the end of February, and possibly sooner.
The day of reckoning looms: Don’t you dare call it default!
As a replacement for its discontinued ATV cargo freighter — which paid its share of ISS — Europe has decided to build a service module for the Orion capsule.
This decision occurred at the same time ESA decided to upgrade Ariane 5 rather than replace it. Both decisions, to my mind, were serious mistakes.
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It ain’t just restaurants: A Pennsylvania college has cut the work hours of all instructors to avoid the costs of Obamacare.
And we’ve only just begun. Under Obamacare the costs for employing anyone full time will be so high that soon most companies will realize they have no choice but to make as many of their staff part-timers as possible.
However, it is this quote, from one of the instructors who almost certainly voted for Obama, that makes me want to scream.
It’s kind of a double whammy for us because we are facing a legal requirement [under the new law] to get health care and if the college is reducing our hours, we don’t have the money to pay for it.
You’re a damn college professor and you didn’t have the brains to figure this out before the election?
The day of reckoning looms: Our country’s road to bankruptcy, in one chart.
Why SLS will surely die: “Long-term budget pressures on NASA mount.”
Whether the cheaper, more efficient, and competitive commercial space program will survive remains unknown. It could be that our brilliant Congress, which wants SLS, will keep that very expensive program alive just long enough to choke the life out of the commercial space program. Then, with the government part of private space dead from lack of support, they will suddenly be faced with the gigantic bill from the NASA-built SLS and will, as they have done repeatedly during the past four decades, blanch at paying the actually construction and launch costs, and will kill that too.
The day of reckoning looms: A new audit has found that the Federal Housing Administration has a deficit of $13.5 billion for the fiscal year ending in September.
Success! California now has the highest poverty rate in the nation.
California’s state legislature and governorship have both been held by the Democrats for years. Both have repeatedly raised taxes. Both have repeatedly failed to balance the state’s budget. And both have been and continue to be eager to increase government regulation on the state’s citizenry. What could go wrong?
Update: In related news, Los Angeles’ film and television industry has lost 16,100 jobs in past seven years, mostly due to businesses leaving the state.
What Americans apparently wanted: The Democratic senator seeking the chairmanship of the Senate Budget Committee has refused to promise to write a budget next year.
This will be the fourth year in a row that the Democrats in the Senate have failed to write a budget. And note, they don’t need a single Republican vote to do it, since budget bills cannot be fillibusted.
As I like to say, the day of reckoning looms.
The day of reckoning looms: Harry Reid said Thursday that the Democrats intend to raise the debt limit another $2.4 trillion.
