The immediate consequences of the Progress freighter failure

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

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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Making hard choices

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

2012 is gonna be nasty.

Thereโ€™s no doubt that weโ€™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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Federal payments required by Obamacare understate the cost by as much as $50 billion

Finding out what’s in it: Federal payments required by Obamacare actually understate the cost by as much as $50 billion, according to a new study.

In May a congressional committee set the accounting rules that determine who will qualify for federal health care subsidies under the 2010 Patient Protection and Affordable Care Act. When the committee handed down the rules to the Congressional Budget Office, its formula excluded the health care costs of millions of workersโ€™ spouses and children. The result was a final estimate for 2010 that hides those costs.

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A Department of Innovation logo that can’t work

Department of Innovation logo

You can’t make this stuff up: Michelle Malkin points out that the logo created by Smithsonian’s Department of Innovation shows a gear arrangement that simply can’t function in the real world.

Check out the logo. 3 interlocking gears arranged in this fashion will not move in any direction. They are essentially locked in place. Which when you think about it, is a perfect analogy of todayโ€™s government!

The comments on the Department of Innovation’s own webpage are hilarious as well:

Perhaps this should be the new logo for Congressโ€ฆ.since no motion could come from this arrangement.

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Life after the downgrade

Life after the downgrade.

An excellent summary of the consequences of a lower credit rating for the U.S. government.

There is a lot of anger at the moment in the US over the embarrassment of the downgrade, as well as shock. Iโ€™m most amused by the shock, to tell the truth. S&P didnโ€™t say anything yesterday that was not common knowledge and common sense. If you had to rate a potential investment that had an income of, say, $22,000 a year but had costs of $37,000 per year, a standing debt of $143,000, and contracted future debt that exceeded $1 million, would you give that investment a gold-plated AAA rating and buy their bonds at the lowest interest rate possible, or at all? Of course not, but thatโ€™s exactly the fiscal situation of the US, at a 100,000,000:1 scale.

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