California – the Coming Collapse
Another government budget disaster: California – the coming collapse.
Another government budget disaster: California – the coming collapse.
Tag: politics
California – the Coming Collapse
Bankruptcy of U.S. government “mathematical certainty” says banker
The former CEO of one of the nation’s largest banks says that unless the federal government gets its budget under control, bankruptcy is a “mathematical certainty.” I especially like this quote from the CEO, John Allison, in describing the past history of Fannie Mae and Freddie Mack:
“I was on a committee, a Financial Services Roundtable, for nine years trying to do something about Freddie Mac and Fannie Mae,” said Allison. “You couldn’t help but see it coming,” he said. “You ran the numbers, particularly the last several years, and it was mathematically certain Freddie and Fannie were going bankrupt.”
“We met with Congress. We met with [House Financial Services Chairman] Barney Frank and [Senate Banking Chairman] Chris Dodd and they absolutely wouldn’t see it,” said Allison.
The former CEO of one of the nation’s largest banks says that unless the federal government gets its budget under control, bankruptcy is a “mathematical certainty.” I especially like this quote from the CEO, John Allison, in describing the past history of Fannie Mae and Freddie Mack:
“I was on a committee, a Financial Services Roundtable, for nine years trying to do something about Freddie Mac and Fannie Mae,” said Allison. “You couldn’t help but see it coming,” he said. “You ran the numbers, particularly the last several years, and it was mathematically certain Freddie and Fannie were going bankrupt.”
“We met with Congress. We met with [House Financial Services Chairman] Barney Frank and [Senate Banking Chairman] Chris Dodd and they absolutely wouldn’t see it,” said Allison.
EPA policy chief steps down
Enviromental regulation takes another hit! The EPA policy chief most in favor of heavy regulation has stepped down.
Enviromental regulation takes another hit! The EPA policy chief most in favor of heavy regulation has stepped down.
Showing how the country is polarized . . . with a t-shirt
Want to find out how polarized our county is? Then wear this shirt (which can be purchased here) and watch the reaction.
How do I know this? Well, yesterday on my flight home from California after giving a lecture to the Orange County section of the American Institute of Aeronautics and Astronautics, I tried it. Nor was this the first time I’ve worn this shirt and seen the reactions. People always seem to notice it, often doing a doubletake because at first they think it is the Obama image with the word “Hope” underneath. Then they realize what it really is, and either laugh in amusement or frown in annoyance.
Yesterday was no different. As I stepped out of the elevator and into the lobby of my California hotel, I passed a woman whose eyes immediately widened when she saw the shirt, and then scowled as she walked past. Then, I went into a local Subway to pick up something to eat during the long flight home. The woman who made my sub as well as the clerk who took my cash both looked at my shirt and glowered. Though they did nothing outright rude, I really think they would have preferred to tell me to leave and not sell me my sub.
At the airport things were interestingly different. Two guys in front of me on line to check bags immediately wanted to know where they could buy the shirt. Then, on the airplane, a steward as well as the passenger sitting next to me asked me the same question. When I said I’d forward them the webpage if they’d give me their email addresses, they all complied eagerly. The steward then went out of his way for the rest of the flight to make sure I was happy, to which I remain grateful.
Though I do find these reactions both amusing and intriguing, I also find them disturbing. How can a free nation survive if people get so emotional over something so silly as a t-shirt?
AARP raises employee premiums because of Obamacare
You can’t put lipstick on this pig! AARP, which backed healthcare reform because it thought it would lower costs, has announced that due to healthcare reform it will raise the premiums its employee pay by 8 to 13 percent. Meanwhile, privacy advocates are raising alarms about the federal health database being set up under the healthcare bill.
You can’t put lipstick on this pig! AARP, which backed healthcare reform because it thought it would lower costs, has announced that due to healthcare reform it will raise the premiums its employee pay by 8 to 13 percent. Meanwhile, privacy advocates are raising alarms about the federal health database being set up under the healthcare bill.
NASA could be in budget limbo for months after Tuesday’s election
From the Huntsville Times: NASA could be in a budget limbo for months as a result of Tuesday’s election.
From the Huntsville Times: NASA could be in a budget limbo for months as a result of Tuesday’s election.
Florida Today calls for more NASA spending from new Congress
The first hints of the new space war over NASA: Florida Today calls for the new Congress to continue the NASA budget increases as authorized by the old Congress.
The first hints of the new space war over NASA: Florida Today calls for the new Congress to continue the NASA budget increases as authorized by the old Congress.
Pro Cap & Trade Democrats slaughtered in elections
“Global climate disruption” takes another hit! Democrats who had voted for the Cap & Trade bill in 2009 were slaughtered in yesterday’s elections.
“Global climate disruption” takes another hit! Democrats who had voted for the Cap & Trade bill in 2009 were slaughtered in yesterday’s elections.
Space and the election results
Yesterday’s elections will clearly force changes again to NASA’s future. Below are a few links from some other space experts expressing their thoughts on the matter. I will follow with my own essay sometime next week, after the election results have some time to shake out.
From SpacePolicyOnline, an overview of the results in relation to space policy.
From Rand Simberg: Great election news for space.
From Space Politics: Brooks wins, Giffords with a narrow lead.
See also this Space.com article: Election Brings New Leadership to NASA Oversight Committees.
Overall, the defeat of Congressmen like Oberstar and Grayson, both of whom loved to regulate, can only be good for the future of private space.
We ain’t goin’ away
An evening pause: As election day is just about over, I think this song will help explain to our elected officials the kind of government the United States has, and how the results from today are merely a single moment in a long struggle.
Astronauts on ISS vote from space
Democracy marches on! The American astronauts on ISS used a secure email system to vote early from space.
Democracy marches on! The American astronauts on ISS used a secure email system to vote early from space.
Dollar could lose 20% of its value in next few years
According to the manager of the world’s largest mutual fund, the U.S. dollar could lose 20% of its value in next few years, due to actions of the Federal Reserve.
According to the manager of the world’s largest mutual fund, the U.S. dollar could lose 20% of its value in next few years, due to actions of the Federal Reserve.
New regulations by EPA threatens to reduce the electrical grid capacity by 7.2%
A deluge of new regulations by the EPA threatens to reduce the American capacity to produce electricity by over seven percent.
A deluge of new regulations by the EPA threatens to reduce the American capacity to produce electricity by over seven percent.
Saving NASA From The Obama Science Fair
Saving NASA from the Obama science fair. Key quote:
In place of a plan crafted by his predecessor which might have one day carried astronauts to Mars, Mr. Obama has proposed a science fair that literally goes nowhere.
Hasn’t someone already said this, at great length, more than a few times?
Link fixed! Sorry about that.
Saving NASA from the Obama science fair. Key quote:
In place of a plan crafted by his predecessor which might have one day carried astronauts to Mars, Mr. Obama has proposed a science fair that literally goes nowhere.
Hasn’t someone already said this, at great length, more than a few times?
Link fixed! Sorry about that.
Democrat supporters rip up signs on private property, curse Tea party protestors
Feel the hate: Virginia Democrat supporters rip up Repulican signs on private property while screaming curses at conservative demonstrators.
Feel the hate: Virginia Democrat supporters rip up Repulican signs on private property while screaming curses at conservative demonstrators.
Anti-American propaganda from the National Endowment for the Humanities
Anti-American propaganda from the National Endowment for the Humanities. Key quote:
In my thirty years as a professor in upper education, I have never witnessed nor participated in a more extremist, agenda-driven, revisionist conference, nearly devoid of rhetorical balance and historical context for the arguments presented.
Anti-American propaganda from the National Endowment for the Humanities. Key quote:
In my thirty years as a professor in upper education, I have never witnessed nor participated in a more extremist, agenda-driven, revisionist conference, nearly devoid of rhetorical balance and historical context for the arguments presented.
Fifty-eight percent of population favors repeal of Obamacare
And the Democrats wonder why they are losing this election? Fifty-eight percent of the population favors repeal of Obamacare, with a whopping 70 percent of independents wanting repeal.
And the Democrats wonder why they are losing this election? Fifty-eight percent of the population favors repeal of Obamacare, with a whopping 70 percent of independents wanting repeal.
Poll warden denies a policeman in uniform the right to vote because he is wearing a gun
A poll warden, since dismissed, denied the right to vote on Friday to a policeman in full uniform because he refused to surrender his gun.
A poll warden, since dismissed, denied the right to vote on Friday to a policeman in full uniform because he refused to surrender his gun.
Poll numbers suggest largest Republican victory in generations
Gallup poll numbers suggest tomorrow’s Republican victory could be the largest in generations, and could exceed all predictions. Key quote:
It should be noted, however, that this year’s 15-point gap in favor of the Republican candidates among likely voters is unprecedented in Gallup polling and could result in the largest Republican margin in House voting in several generations. This means that seat projections have moved into uncharted territory, in which past relationships between the national two-party vote and the number of seats won may not be maintained. [emphasis mine]
Gallup poll numbers suggest tomorrow’s Republican victory could be the largest in generations, and could exceed all predictions. Key quote:
It should be noted, however, that this year’s 15-point gap in favor of the Republican candidates among likely voters is unprecedented in Gallup polling and could result in the largest Republican margin in House voting in several generations. This means that seat projections have moved into uncharted territory, in which past relationships between the national two-party vote and the number of seats won may not be maintained. [emphasis mine]
UN conference passes broad ban on “geoengineering”
A UN conference in Japan today approved the extremely broad language that I had noted earlier this week, banning all “climate-related geoengineering activities that may affect biodiversity . . . until there is an adequate scientific basis on which to justify such activities.” You can read some reactions here. Key quote from the ETC group, a Canadian non-profit organization which supports the language:
The agreement, reached during the ministerial portion of the two-week meeting which included 110 environment ministers, asks governments to ensure that no geoengineering activities take place until risks to the environment and biodiversity and associated social, cultural and economic impacts have been appropriately considered. The CBD secretariat was also instructed to report back on various geoengineering proposals and potential intergovernmental regulatory measures.
If the broad language of this policy is accepted by the United States government, it will effectively shut down almost all new construction and development, as practically anything people do “may affect biodiversity.”
The suborbital commercial industry responds to smog accusations
The commercial suborbital industry responds to the recent science paper that said that the soot from their rocket engines might cause to global warming.
The commercial suborbital industry responds to the recent science paper that said that the soot from their rocket engines might cause to global warming.
Squeal like a pig
Let’s take a trip into the future, looking past Tuesday’s midterm election.
For the sake of argument, let’s assume that, come Tuesday, the Republicans take both houses, in a stunning landslide not seen in more than a century. Let’s also assume that the changes in Congress are going to point decidedly away from the recent liberal policies of large government (by both parties). Instead, every indication suggests that the new Congress will lean heavily towards a return to the principles of small government, low taxes, and less regulation.
These assumptions are not unreasonable. Not only do the polls indicate that one or both of the houses of Congress will switch from Democratic to Republican control, the numerous and unexpected primary upsets of established incumbents from both parties — as well the many protests over the past year by large numbers of ordinary citizens — make it clear that the public is not interested in half measures. Come January, the tone and direction of Congress is going to undergo a shocking change.
Anyway, based on these assumptions, we should then expect next year’s Congress to propose unprecedented cuts to the federal budget, including the elimination of many hallowed programs. The recent calls to defund NPR and the Corporation for Public Broadcastings are only one example.
When Congress attempts this, however, the vested interests that have depended on this funding for decades are not going to take the cuts lightly. Or to put it more bluntly, they are going to squeal like pigs, throwing temper tantrums so loud and insane that they will make the complaints of a typical three-year-old seem truly statesman-like. And they will do so in the hope that they will garner sympathy and support from the general voting public, thereby making the cuts difficult to carry out.
The real question then is not whether the new Congress will propose the cuts required to bring the federal government under control, but whether they, as well as the public, will have the courage to follow through, to defy the howls from these spoiled brats, and do what must be done. » Read more
Gore leaves engine idling for entire speech
Don’t you dare preach to me! It is reported that while Al Gore gave an hourlong environment speech in Sweden he left the engine on his rental car idling.
Don’t you dare preach to me! It is reported that while Al Gore gave an hourlong environment speech in Sweden he left the engine on his rental car idling.
NASA’s budget remains under threat
According to the Orlando Sentinel, the likely budget cuts expected from the next Congress are almost certainly going to threaten the extra shuttle flight that Congress authorized several weeks ago.
According to the Orlando Sentinel, the likely budget cuts expected from the next Congress are almost certainly going to threaten the extra shuttle flight that Congress authorized several weeks ago.
SpaceX’s Dragon capsule cleared for launch but not landing by FAA
Our government at work! The FAA has given SpaceX a license to launch the Dragon capsule, scheduled for a November 18 launch on the Falcon 9 rocket, but not yet given them a license to land.
Our government at work! The FAA has given SpaceX a license to launch the Dragon capsule, scheduled for a November 18 launch on the Falcon 9 rocket, but not yet given them a license to land.
Another moderator from the League of Women Voters resists saying the pledge of allegiance
Another moderator from the League of Women Voters resists saying the pledge of allegiance, forcing the audience to overrule her.
Another moderator from the League of Women Voters resists saying the pledge of allegiance, forcing the audience to overrule her.
Will the Republicans actually cut spending?
If victorious on November 2, will the Republicans actually cut spending? This article outlines the issues.
If victorious on November 2, will the Republicans actually cut spending? This article outlines the issues.
UN treaty language threatens to ban all “climate-related geoengineering”
Treaty language being written at a United Nations conference on biodiversity is so vague it threatens to bar almost all new development. Here is the language, via Science:
8 (w) Ensure, in line and consistent with decision IX/16 C, on ocean
fertilisation and biodiversity and climate change, in the absence of science-based, global, transparent and effective control and regulatory mechanisms for geo-engineering, and in accordance with the precautionary approach and Article 14 of the Convention, that no climate-related geoengineering activities (1) that may affect biodiversity take place, until there is an adequate scientific basis on which to justify such activities and appropriate consideration of the associated risks for the environment and biodiversity and associated social, economic and cultural impacts, with the exception of small scale scientific research studies that would be conducted in a controlled setting in accordance with Article 3 of the Convention, and only if they are justified by the need to gather specific scientific data and are subject to a thorough prior assessment of the potential impacts on the environment.(1) Without prejudice to future deliberations on the definition of geo-engineering activities, understanding that any technologies that deliberately reduce solar insolation or increase carbon sequestration from the atmosphere on a large scale that may affect biodiversity (excluding carbon capture and storage from fossil fuels when it captures carbon dioxide before it is released to the atmosphere) should be considered as forms of geoengineering which are relevant to the Convention on Biological Diversity until a more precise definition can be developed. Noting that solar insolation is defined as a measure of solar radiation energy received on a given surface area in a given hour and that carbon sequestration is defined as the process of increasing the carbon contact of a reservoir/pool other than the atmosphere. [emphasis mine]
This language is so broad that, if agreed to by the United States, it could easily put almost any activity that affects the environment, including technology, business, property, recreation, or practically anything at all, under the control of UN regulators.
But wait, there’s more. The goal of this UN conference, to quote their own webpage, is to achieve “a significant reduction of the current rate of biodiversity loss at the global, regional and national level as a contribution to poverty alleviation and to the benefit of all life on Earth.” Obviously, this UN group is not merely interested in protecting the biodiversity of life on Earth, but to also redistribute the wealth so as to help poorer nations.
God help us if our government agrees to this.
Tax Official Threatens to Shut Down Kids‘ Pumpkin Stand For Lacking ’Proper Permit’
More government idiocy: Tax official threatens to shut down kids‘ pumpkin stand for lacking “a proper permit.”
More government idiocy: Tax official threatens to shut down kids‘ pumpkin stand for lacking “a proper permit.”
Toronto elects conservative mayor by a surprising margin
Is this a hint of what’s to come on Tuesday? Toronto yesterday not only elected a conservative mayor by a very large margin, four incumbent councillors were also defeated soundly. Key quote:
Polls, indicating the race was razor edge close, were proven false in 11 single minutes! . . . [The conservative] Ford won with 383,501 votes—more than the votes of his two main opponents combined.
Is this a hint of what’s to come on Tuesday? Toronto yesterday not only elected a conservative mayor by a very large margin, four incumbent councillors were also defeated soundly. Key quote:
Polls, indicating the race was razor edge close, were proven false in 11 single minutes! . . . [The conservative] Ford won with 383,501 votes—more than the votes of his two main opponents combined.