Tag: Obama

How High Would Taxes Have to Be to Close the Budget Gap This Year?

5:41 pm

How high would taxes have to be to close the budget gap this year? One blogger took a look:

I decided to look at the IRS data and calculate exactly how high would the tax rates have to be close this year’s budget gap of around $1.6 trillion (it’s $1.65 trillion according to the White House and $1.55 trillion according to the CBO). What I found was certainly not surprising but still quite disturbing.

Take a look yourself. It is very clear that increased taxes cannot solve the debt problem. It can’t even make a dent in it.

In other words, those advocating a “balanced approach” are really only avoiding the problem. In order to get the federal budget under control we have to cut spending. Nor should that be hard, considering that the federal budget has literally doubled since 1999. If we simply went back to 2000 numbers we’d almost certainly have a surplus, and no one would die nor would the world end.

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One in eight small businesses have stopped providing health insurance since Obamacare was passed

8:44 am

Finding out what’s in it: One in eight small businesses have stopped providing health insurance since Obamacare was passed.

One of the great “promises” of [Obamacare’s] supporters was that insured people would be able to keep their current health insurance plan. As a practical matter that has not been true for a substantial number of small employers and their employees. Since enactment, one in eight (12%) small employers have either had their health insurance plans terminated or been told that their plan would not be available in the future.

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What Democrats did wrong on the debt ceiling in 2010

10:44 pm

Analysis from a liberal at the Washington Post: What Democrats did wrong on the debt ceiling in 2010.

Raising the debt ceiling is really, really unpopular. The idea that Congress should vote itself more authority to run deficits is really, really unintuitive. Even now, after many months of coverage and the most aggressive communications campaign this White House has attempted, Americans are closely split on whether we need to raise the debt ceiling by Aug. 2. Whenever I try to run out the logic of Obama simply refusing to allow Republicans to take the debt ceiling hostage, I end up with us approximately where we are now, but Obama’s numbers are lower, the GOP’s numbers are higher, a number of congressional Democrats have broken ranks, and Washington elites are firmly arrayed against the White House.

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Downgrade could come as soon as Friday

9:58 am

The day of reckoning looms even closer: Credit rating downgrade for the U.S. government could come as soon as Friday. Key quote:

It’s not the debt ceiling that’s triggering a potential ratings change — it’s the trajectory of debt generated by the federal government.

And this:

The problem, as [the ratings agencies] see it, is not that America can’t pay its debts next month, but that America has grown its debt to such a degree that we can’t pay them in the long run without serious restructuring of the federal government — and this administration refuses to consider it:

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Junk journalism

12:50 pm

In a piece today at the Huffington Post, science journalist Seth Borenstein declares the wonders of NASA’s next mission: to send astronauts to an asteroid by 2025, as declared by President Obama.

If you believe this is going to happen, then I have a bridge I want to sell you. To do it we need a spaceship in which people can live for at least a year, and a rocket to get that ship into orbit. Not only do we not yet know how to build such a spaceship, we no longer have the capability of putting it into orbit. In case you’re unaware (Borenstein acts like he is), the space shuttle no longer exists. And under this administration and Congress, any replacement we get isn’t going to be able to launch such an interplanetary spaceship anywhere in the near future, especially faced as we are with the present federal debt.

The disgraceful thing about this article, however, is the lack of skepticism shown by Borenstein.
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The emptiness of the Democratic debt ceiling “plans”

12:30 am

The emptiness of the Democratic debt ceiling “plans”.

On Wednesday evening, I noted the absurdity of Associated Press coverage characterizing the 5-page document with 3-1/2 whole pages of text issued by the “Gang of Six” as a “plan” — 12 times, plus in the item’s headline. Though I didn’t bring it up then, an obvious point to make about any of these items floating around Washington is that if the Congressional Budget Office can’t score it, it can’t be a plan. A month ago, CBO Director Doug Elmendorf told a congressional committee, in response to a question about President Obama’s April proposal, that “we can’t score speeches.”

And then there’s this:

Obama … claimed to have a $4 trillion deficit-reduction plan. The court eunuchs of the press corps were impressed, and went off to file pieces hailing the president as “the grown-up in the room.” There is, in fact, no plan. No plan at all. No plan whatsoever, either for a deficit reduction of $4 trillion or $4.73. As is the way in Washington, merely announcing that he had a plan absolved him of the need to have one. So the president’s staff got out the extra-wide teleprompter and wrote a really large number on it, and simply by reading out the really large number the president was deemed to have produced a serious blueprint for trillions of dollars in savings. For his next trick, he’ll walk out on to the stage of Carnegie Hall, announce that he’s going to play Haydn’s Cello Concerto No 2, and, even though there’s no cello in sight, and Obama immediately climbs back in his golf cart to head for the links, music critics will hail it as one of the most moving performances they’ve ever heard.

The only “plan” Barack Obama has put on paper is his February budget. Were there trillions and trillions of savings in that? Er, no. It increased spending and doubled the federal debt.

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An Obamacare provision appears to force middle-class families to either buy unaffordable healthcare or pay a penalty

10:37 pm

Repeal it! An Obamacare provision appears to force middle-class families to either buy unaffordable healthcare or pay the penalty for going without.

I wrote “appears to force” above because the issue at hand is so complex I don’t think anyone either in or out of the Obama administration truly understands it, another indication that the healthcare law is a disaster that needs to be ceremoniously dumped, and as quickly as possible.

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Boehner ends negotiations with Obama

6:19 pm

Not good: House Speaker John Boehner (R-Ohio) has broken off negotiations with President Obama over the debt ceiling.

“A deal was never reached and was never really close,” Boehner wrote. “I have decided to end discussions with the White House and begin conversations with the leaders of the Senate in an effort to find a path forward.” Boehner blamed Obama’s demand for higher taxes and opposition to “fundamental changes” to entitlement programs such as Medicare, Medicaid and Social Security.

The important thing to note here is that so far only the Republicans have put forth any specific plan. It might not have been perfect but at least it was something. And the Democrats have rejected it, without offering any detailed counteroffer.

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Perry and other lawmakers blast Obama over shuttle retirement

8:43 pm

Texas Governor Rick Perry, as well as other lawmakers from Congress, blasted Obama today over the shuttle retirement.

Bah. Perry claims to be a so-called small government conservative, yet he wants the government to spend a fortune to build and run the space program. Meanwhile, Senators John Cornyn (R-Texas) and Kate Bailey Hutchinson (R-Texas) were around in Congress when President George Bush announced the shuttle’s retirement seven years ago. Their effort since then to fund pork through NASA and thus have NASA build a giant new rocket system, either Constellation or its new Congressionally-designed replacement, has been a disaster. Right now it would be better, and far cheaper, if they stopped fighting the new commercial space companies and instead get behind them, especially since the Obama administration itself has done a very poor job of selling this new industry.

A little support from Congress could go a long way to not only reinvigorating the aerospace industry, it could speed our country’s return to manned space, with multiple competing companies.

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Obama plans birthday bash costing almost $40k per ticket on default day

12:04 pm

Tone deaf: Obama is planning a birthday bash fundraiser for himself costing more than $35k per ticket on August 3, the day the debt limit is reached and could default.

Oscar winner Jennifer Hudson is expected to perform at the birthday bash at the historic Aragon Ballroom in Chicago. The event will be one of the president’s biggest fundraisers of the year. Publicity literature featuring a red, white and blue Happy Birthday logo has already been produced. The event will be “multi-tiered,” the Chicago Sun-Times reported. The Hudson concert would cost $50; admission to the party $200; a premium seat $1,000; a souvenir photo with the president $10,000; and VIP seating and dinner with Obama $38,500.

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A flag in the dust

11:28 am

Bumped: I posted this essay last July 20th on the anniversary of the Apollo 11 landing on the moon. I think it is worth rereading again, even as the shuttle is about to return to Earth for the last time.

Today, July 20th, is the anniversary of the Apollo 11 landing on the Moon, the first time ever that a human being arrived on another planet. Americans love to celebrate this event, as it symbolizes one of the finest moments in our history, when we set out to achieve something truly great and noble and succeeded far better than we could have imagined. Not only did we get to the Moon as promised, over the next three and a half years we sent another five missions, each with increasingly sophisticated equipment, each sent to explore some increasingly alien terrain. Forty-plus years later, no one has come close to matching this achievement, a fact that emphasizes how difficult it was for the United States to accomplish it.

There is one small but very important detail about the Apollo 11 mission, however, that most Americans are unaware of. In mounting the American flag, the astronauts found the lunar surface much harder than expected. They had a great deal of trouble getting the flagpole into the ground. As Andrew Chaikin wrote in his book, A Man on the Moon, “For a moment it seemed the flag would fall over in front of a worldwide audience, but at last the men managed to steady it.” Then Armstrong took what has become one of the world’s iconic images, that of Buzz Aldrin standing on the lunar surface saluting the flag of the United States of America.

Aldrin saluting the flag

What people don’t know, however, is that when Armstrong and Aldrin blasted off from the lunar surface, the blast wave from the Lunar Module’s rocket knocked the flag over. As Chaikin also wrote, “Outside, a spray of gold foil and debris from the descent stage flew away in all directions. The flag toppled to the dust.”

Thus, for the last four decades this American flag, shown so proudly unfurled on the surface of the Moon, has actually been lying unceremoniously on the ground, in the lunar dust.

It might actually be possible to see this, though the photos at this time remain unclear and quite blurry.
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Being tone deaf is not a good way to fund a government space program

11:59 am

Yesterday the House appropriations committee’s released budget numbers that included no additional funds for commercial space, limiting the subsidies to $312 million, the same number as last year and significantly less than the $850 million requested by the Obama administration.

This is what I have thought might happen since last year. The tone deaf manner in which the Obama administration has implemented the private space subsidies is leaving all funding for NASA vulnerable.
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NASA stalls, Texas lawmakers fume

10:12 pm

The law is such an inconvenient thing: In a bipartisan effort, Texas lawmakers roast NASA administrator Charles Bolden for not meeting mandated Congressional deadlines for Congress’s personally designed rocket, the program-formerly-called-Constellation.

The heavy-lift rocket and capsule that Congress insists NASA build is a complete waste of money and nothing more than pork. It will never get built, mainly because Congress has given NASA less money and less time to build it than they did for Constellation under the Bush administration. Unfortunately, the reason they continue to require NASA to build it is to provide pork to their districts.

In a perfect world this funding would be cut now, especially considering the state of the federal debt.
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House spending panel cuts John Holdren’s science office budget by 55%

7:18 pm

The House spending panel today proposed cutting the budget of the White House Office of Science and Technology Policy (OSTP) office, run by John Holdren, by 55%.

“OSTP has chosen to disregard a strong and unambiguous legislative prohibition on bilateral engagement with China or Chinese-owned companies,” says language accompanying the 2012 bill, to be voted on tomorrow by the full appropriations committee. “OSTP’s behavior demonstrates a lack of respect for the policy and oversight roles of the Congress.”

I think the Obama administration is about to discover that ignoring the law as passed by Congress can have bad consequences.

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