Archive for September, 2010

“The government can’t even get out of its own way.”


Tuesday September 28th, 2010   •   Posted by David Theroux at 7:22am PST   •   1 Comment

In a new article in the Wall Street Journal, Louise Radnofsky traces the bureaucratic stranglehold of federal, state and local governments that has directly hindered the spending of the Obama administration’s “stimulus” funding from the federal government. Specifically, she examines the malaise resulting from the roadblocks to insulate homes in Detroit because of restrictions...
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Private Investment vs. Government Spending in the Recession


Sunday September 26th, 2010   •   Posted by David Theroux at 5:58am PST   •   1 Comment

Independent Institute Senior Fellow Robert Higgs examines the serious problem of “regime uncertainty” being created by the feasting of federal spending programs starving (crowding out) the private investment needed for recovery from the recession: “Private saving and investment are the heart and soul of the dynamic market process. Together they provide and allocate the...
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Government Employee Pension Funds Face Bigger Shortfalls


Thursday September 23rd, 2010   •   Posted by David Theroux at 1:05am PST   •   2 Comments

As reported in a new article for the Wall Street Journal, “Pension Gaps Loom Larger,” David Reilly notes that based on unrealistic return assumptions, the nation’s largest public employee pensions could face big shortfalls: “Many of America’s largest pension funds are sticking to expectations of fat returns on their investments even after a decade...
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Obstacle to Deficit Cutting: A Nation on Entitlements


Tuesday September 21st, 2010   •   Posted by David Theroux at 11:24pm PST   •   1 Comment

In an incisive, recent article in the Wall Street Journal, Sara Murray reports that: “Efforts to tame America’s ballooning budget deficit could soon confront a daunting reality: Nearly half of all Americans live in a household in which someone receives government benefits, more than at any time in history. “At the same time, the...
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America’s Hidden Welfare Program


Saturday September 18th, 2010   •   Posted by David Theroux at 5:32am PST   •   1 Comment

In Slate, James Ledbetter reports that “Social Security’s disability insurance is expensive, destructive, and out of control.” “Throughout the year, economists and both houses of Congress have debated whether to extend unemployment insurance for another 13 weeks, or 26 weeks, worried that the payments would bloat the deficit or, worse, actually cause people to...
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29.4% Increase in Pork in 2011 Senate THUD Act


Tuesday September 14th, 2010   •   Posted by David Theroux at 6:56am PST   •   3 Comments

Citizens Against Government Waste reports that the U.S. Senate’s version of the 2011 Department of Transportation, Housing, and Urban Development (THUD) Appropriations Act includes 590 projects ($2.2 billion) with an increase of 29.4% in costs over Fiscal Year 2010’s 588 projects. “The significant increase in the number of projects is indicative of senators’ continued...
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“Unpaid” Pay Czar Got 6-figure Salary


Sunday September 12th, 2010   •   Posted by David Theroux at 5:54pm PST   •   7 Comments

Through the Freedom of Information Act, Judicial Watch has obtained copies of Treasury Department documents that show that President Obama’s Compensation Czar (“Pay Czar”), Kenneth Feinberg, received an annual GS-15 salary of $120,830, contrary to the claims that he was unpaid. “Jill Farrell, a spokesman for Judicial Watch, said her organization had sought clarification...
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U.S. Debt $130 Trillion; Global GDP and Money Supply Both $60 Trillion?


Saturday September 11th, 2010   •   Posted by David Theroux at 8:32pm PST   •   1 Comment

Kevin Williamson at National Review has further discussed his June 2010 projections of total long-term, U.S. national debt being $130 trillion. In a 2008 Forbes article, economist Laurence Kotlikoff had more conservatively estimated the debt to be $70 trillion. What Williamson points out now though is that both the total, money supply of the...
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Government Motors CEO Receives $9 Million Pay Package


Saturday September 11th, 2010   •   Posted by David Theroux at 1:57am PST   •   2 Comments

The Associated Press reports that having received a $50 billion bailout in corporate welfare from the U.S. government, General Motors Corporation (GM) is giving its new CEO Daniel Akerson a $9-million pay package, the same deal received by his predecessor Edward Whitacre. Akerson is the fourth CEO in less than two years at Government...
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Federal Health-Care Overhaul to Raise Rates on Individuals and Small Business


Friday September 10th, 2010   •   Posted by David Theroux at 1:24am PST   •   2 Comments

In an article by Janet Adamy, the Wall Street Journal reports that contrary to the claims of the Obama administration, rates for health insurance for individuals and small businesses are projected to increase by as much as 20%. Although such rate increases primarily apply to new policies, “consumers could be subject to the higher...
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