Tag: deficit

Showdown in Wisconsin

11:35 am

Showdown in Wisconsin. Key quote:

Government school teachers, among others, are not happy and have shut down entire school districts across the state for two days so they can protest.

I have two thoughts on this…

1. Hell yes.

2. About time.

Public employees should not be allowed to unionize or if they are, they should be forbidden to contribute to political campaigns. The current system essentially allows the employees to buy off the managers (politicians) in order to rip off the owners (the public). It’s a system that is corrupt by it’s very existence. The proof of this is the public pension and benefits schemes that threatens to crush the fiscal solvency of many states.

Update and bumped. This New York Times article summarizes the situation nicely. To me, however, the key quote is this:

Scott Fitzgerald, the Republican leader in the State Senate, slipped out of the Capitol Wednesday morning with his sunglasses on, head down. Protesters had gone to his home earlier in the week, forcing his family (including his wife, a school guidance counselor) to go elsewhere for a bit.

You can see some video of the protests here: Union hate rally in Wisconsin: Protests rife with Hitler, gun targets, death threats.

So, another demonstration of how the left tones down the rhetoric: threatening the family of a lawmaker.

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House votes to move money from NASA to local law enforcement

11:19 pm

The House votes to shift $298 million from NASA to local law enforcement.

What idiocy. I can accept the idea of cutting NASA considering the state of the deficit. However, for Congress to instead spend the money for local police work, something that is definitely not the responsibility of the federal government, is plain foolishness. The need now is to cut, cut, cut, until the budget is under control. Only then can we reasonably consider spending money on these programs.

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Why more railroad subsidies make no sense

9:30 pm

Why high-speed rail makes no sense. Key quote:

High-speed rail would transform Amtrak’s small drain [on the government] into a much larger drain. Once built, high-speed rail systems would face a dilemma. To recoup initial capital costs — construction and train purchases — ticket prices would have to be set so high that few people would choose rail. But lower prices, even with favorable passenger loads, might not cover costs. Government would be stuck with huge subsidies. Even without recovering capital costs, high-speed rail systems would probably run in the red. Most mass-transit systems, despite high ridership, routinely have deficits.

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White House Ignores Interest Payments in Claiming to Control Debt

6:00 pm

This is beyond belief: The White House has decided to make believe the interest payments required to pay back the federal debt do not exist in their claim that their budget is reducing that debt. Key quote from Senate hearings yesterday:

To justify the administration claim, [White House Budget Director Jack] Lew said the administration was merely referring to “primary balance” — or federal spending minus interest payments. Lew sought to forgive the public for their confusion. “The terminology that we use in Washington of primary balance is a little confusing,” Lew said.

“It’s because I believe it’s dishonest,” [Senator John] Ensign (R-Nevada) shot back.

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GOP bill zeroes out programs, puts curbs on Obama initiatives

9:23 pm

Another look at the GOP budget cuts: Republican proposal will zero out programs and puts serious limits on many Obama initiatives. Key quote:

“In the last two years, under President Obama, the federal government has added 200,000 new federal jobs,” said [House Speaker John A. Boehner (R-Ohio)]. “If some of those jobs are lost, so be it. We’re broke.”

Not surprisingly, Democrats are squealing.

Democrats challenged the 200,000 job number and said he showed a callous attitude toward those who would be out of work. “Maybe ‘so be it’ for him, but not ‘so be it’ for people who are losing their jobs,” said House Minority Leader Nancy Pelosi, California Democrat. Senate Appropriations Committee Chairman Daniel K. Inouye, Hawaii Democrat, said Republicans’ cuts amounted to a “meat cleaver” approach.

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Healthcare Reform Law Requires New IRS Army Of 1,054

6:44 pm

Repeal the damn bill! The IRS announced today that it will require over a thousand new agents and $359 million more money to implement Obamacare in 2012. Key quote:

The detailed IRS budget documents spell out exactly what most of the new workforce will be doing. For example, some 81 will be tasked just to handle the tax reporting of 25,000 tanning salons. They face a new 10 percent excise tax on indoor tanning services. Another 76 will be assigned to make sure businesses engaged in making and imported drugs pay their new fee which is expected to deliver $2.8 billion to the Treasury in 2012 and 2013. The new healthcare corps will also require new facilities and computers.

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Pelosi says that GOP budget puts ‘women and children last’

6:18 pm

The head squealer goes oink! Nancy Pelosi (D-California) said yesterday that the proposed GOP budget would put “women and children last.”

Meanwhile, her assistant squealer, Steny Hoyer, insisted that a government shutdown could only be the fault of the Republicans. According to Hoyer, the Democrats in the Senate are mere bystanders, having nothing to do with any of this at all.

What incompetent idiots.

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A retraction

11:02 am

Concerning Obama’s proposals for NASA’s 2012 budget, a closer look by me since yesterday has caused me to reconsider my earlier post. I think I spoke too soon, before I had time to review the Obama budget proposal entirely.

Though the Obama administration has pulled back somewhat from its initial 2011 budget proposals for commercial space, it does appear that they are not abandoning that effort as I had thought at first. Their 2012 proposal ($850 million per year) is still significantly higher than what Congress had authorized ($500 million), which suggests a willingness to fight for this program.

As for the program-formerly-called-Constellation, however, it does appear that this pork program is going forward. Instead of trying to cancel it like last year, the administration now appears to have become resigned to its existence, and this year includes significant funds for its construction.

Regardless, considering the insane state of the federal deficit, it seems to me both unrealistic and foolish to fund either of these programs at this time. Pork politics unfortunately will probably help keep alive the funding for the program-formerly-called-Constellation, while the lack of a powerful constituency for commercial space leaves these subsidizes very vulnerable to Congressional trimming.

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Science an Early Budget Winner … But Fight Has Just Begun

10:44 am

Await the squeals from scientists: The journal Science notes the differences between the budget proposals coming from the House Republicans (cutting funds to science) and Obama (increasing funds to science) and hopes for the best. (You can also get a good idea about the increases to science that Obama proposes by going to this ScienceInsider story and scanning down the various articles.) Key quote:

Both conservatives and liberals agree: the main pressure pushing the federal deficit is entitlements; the discretionary budget is dwarfed by mandatory Medicare, Medicaid, and Social Security spending. And yet neither the House of Representatives Republican appropriators’ proposal to tackle the deficit starting in 2011 nor Obama’s new budget for next year tackles the real challenge of entitlements. Instead, both pick and choose the discretionary cuts they want to start with.

From my mind, we should accept the cuts from both sides, then go after the entitlements.

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In his new budget, Obama kicks the can one more time

11:36 pm

Another critical look at Obama’s budget proposal, this time from liberal Dana Milbank at the Washington Post! Key quote:

Obama’s budget proposal is a remarkably weak and timid document. He proposes to cut only $1.1 trillion from federal deficits over the next decade – a pittance when you consider that the deficit this year alone is in the neighborhood of $1.5 trillion. The president makes no serious attempt at cutting entitlement programs that threaten to drive the government into insolvency.

And here’s another: “Steep cuts?” Even the left Is starting to notice.

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A clarification of the Obama NASA manned space budget

4:07 pm

To avoid confusion, I want to clarify why I consider Obama’s commercial space budget proposal today to be a decrease, not an increase, from past budget proposals. The history of this budget goes like this:

  • In February 2010 Obama proposed to spend $1 billion per year on new commercial space.
  • Congress responded by reducing that budget to $312 million for 2011 and $500 million per year thereafter.
  • The new Obama budget for 2012 proposes to spend $850 million per year for commercial space, more than presently authorized by Congress but less than proposed by Obama only last year.

It is almost certain that Congress will trim these numbers. Meanwhile, the amount of money to the program-formerly-called-Constellation goes up.

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A victory for aerospace pork

1:52 pm

Update: See my partial retraction here.

The NASA budget announced today by the White House proves how right I was when I stated back on July 8, 2010 that I had no faith in Obama’s new-found commitment to private commercial space. The new budget reduces the funds for private commercial space while putting the bulk of its support behind the unbuildable program-formerly-called Constellation. First read what I wrote in July:

The problem is that I simply do not believe the Obama administration. Everything I have learned about the current President, including the specifics (or lack thereof) of his proposal, tells me that none of his promises are going to be fulfilled. » Read more

Bernanke to Congress: We’re Much Closer to Total Destruction Than You Think

6:51 pm

Bernanke to Congress: We’re much closer to total destruction than you think. Key quote:

One way or the other, fiscal adjustments sufficient to stabilize the federal budget must occur at some point. The question is whether these adjustments will take place through a careful and deliberative process that weighs priorities and gives people adequate time to adjust to changes in government programs or tax policies, or whether the needed fiscal adjustments will come as a rapid and painful response to a looming or actual fiscal crisis.

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