The space war over NASA continues: A group of House Republicans want to cut NASA’s climate research budget — increased significantly by Obama — and put it back into manned spaceflight.
Obama calls for $53 billion in spending to build more high-speed railroads. Key quote:
An initial $8 billion in spending will be part of the budget plan Obama is set to release Monday. If Congress approves the plan, the money would go toward developing or improving trains that travel up to 250 miles per hour, and connecting existing rail lines to new projects. The White House wouldn’t say where the money for the rest of the program would come from, though it’s likely Obama would seek funding in future budgets or transportation bills.
I hope that the reason the White House couldn’t say where the money would come from is because it simply does not exist, and there is little chance that Congress will appropriate it.
Repeal the damn law! Twenty-one governors have sent a letter to the Obama Administration, describing how Obamacare is going to cripple their states.
The two Democratic senators from New Jersey have proposed a new NY-NJ rail tunnel plan in response to the one that Governor Chris Christie canceled.
These pigs just don’t get it: The government is broke, it has no money for this stuff.
Oink-oink! Senate Democrats met with lobbyists and special interest groups in a big closed-door meeting on January 24 to plan their opposition to any spending cuts. Key quote:
The Jan. 24 meeting was attended by approximately 400 people, sources told ABC, and served as a “call to arms” for those determined to fight Republican budget cuts.
The first post-2010-election House appropriations committee hearing on NASA’s budget will take place this week. Key quote:
“The goal of the hearings is to help identify top management challenges and find ways to eliminate waste, fraud and abuse in these respective departments and agencies,” the chairman of the CJS subcommittee, Rep. Frank Wolf (R-VA)
Fed chairman Bernanke issued a grim warning yesterday about the federal government’s overwhelming debt. Key quote:
The national debt is currently about 60 percent of the economy, or Gross Domestic Product, [Bernanke] said, adding that it is projected to reach 90 percent of GDP by 2020 and 150 percent of GDP by 2030. But Bernanke’s citation of $9.5 trillion in national debt didn’t include the $4.6 trillion owed by the government to trust funds for things such as Social Security and Medicare, which have paid out cash to the Treasury in exchange for promisory notes. The full national debt – when both forms of debt are included – is already just under 100 percent of GDP, which is currently around $14.6 trillion.
Go Rand Go! Senator Paul accuses Republicans of being too wimpy in their recent budget proposals.
This closer look at the GOP’s proposed budget cuts will give you an idea which pigs are about to squeal.
Update: In fact, the squeals have already started, among Senate Democrats.
The pigs are winning! A GOP budget proposal offered today only proposes $32 billion in budget cuts for this year, rather than the $100 billion they promised during the campaign.
Government stupidity in action: FEMA considered then canceled (thank goodness) a proposal to spend more than a billion dollars on Meals-Ready-to-Eat on the very slim chance that the New Madrid fault in the midwest might produce a major earthquake sometime in the three years.
Unfortunately, they still haven’t canceled plans to buy 7 million emergency blankets and 550 million gallons of water in individual 1-liter plastic bottles.
