Archive for October, 2010

State of California to Sell 24 Government Buildings for $2.3 Billion


Saturday October 16th, 2010   •   Posted by William Shughart at 1:30am PST   •   0 Comments

News item: “California to Sell 24 Government Buildings for $2.3 Billion” (AP, October 12, 2010). As a way of helping plug the State of California’s now-chronic budget deficit, this headline is welcome news. Among the state-owned properties on the auction block are LA’s Ronald Reagan State Building and San Francisco’s Civic Center. I have...
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U.S. Spending Up 21.4% in Two Years, $3.45 Trillion for 2010


Thursday October 14th, 2010   •   Posted by David Theroux at 2:24am PST   •   1 Comment

The Wall Street Journal notes in a new article, “The 2010 Spending Record: In two years, a 21.4% increase”: “Perhaps you missed it, but then so did the Washington press corps. Late last week the Congressional Budget Office released its preliminary budget tallies for fiscal year 2010, and the news is that the U.S....
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A Smaller, Older, Less Prepared Military: Where Is the Payoff for Huge U.S. Budget Hikes


Wednesday October 13th, 2010   •   Posted by Joshua Kaplan at 8:40pm PST   •   0 Comments

In a new article in Defense News, Winslow Wheeler reports on the trillions of dollars of wasteful spending by the Pentagon, and the poor state of the armed forces that result: “You’d think all that added money would give us larger forces, a newer hardware inventory and better trained people. Instead, the windfall made...
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U.S. Cities Face Half a Trillion Dollars in Government Employee Pension Deficits


Tuesday October 12th, 2010   •   Posted by David Theroux at 1:53pm PST   •   4 Comments

In a new article in the Financial Times, Nicole Bullock reports that a huge pension deficit of more than half a trillion dollars for 50 U.S. cities may produce calls for a massive federal bailout: “Big US cities could be squeezed by unfunded public pensions as they and counties face a $574 billion funding...
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89,000 Stimulus Payments Went to Dead People or Those in Prison


Friday October 8th, 2010   •   Posted by David Theroux at 12:34am PST   •   1 Comment

The Associated Press reports that the Social Security Administration’s Inspector General has determined that: “More than 89,000 stimulus payments of $250 each went to people who were either dead or in prison, a government investigator says in a new report. “The payments, which were part of last year’s massive economic recovery package, were meant...
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Rogoff on Gold Prices and Public Debt


Wednesday October 6th, 2010   •   Posted by Emily Skarbek at 5:03pm PST   •   2 Comments

Ken Rogoff on rising gold prices and public debt: “At $1,300, today’s price is probably more than double very long-term, inflation-adjusted, average gold prices. So what could justify another huge increase in gold prices from here? “One answer, of course, is a complete collapse of the U.S. dollar. With soaring deficits, and a rudderless...
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NSF Awards $700,000 for Theater Play on Global Warming


Wednesday October 6th, 2010   •   Posted by David Theroux at 2:28am PST   •   5 Comments

Mark Hemingway comments in the Washington Examiner on a report in the New York Times that with 10% unemployment, the National Science Foundation (NSF) has awarded a theater company with a grant of $700,000 to produce a stage play to “educate” the public regarding the claims of global warming. “One in 10 Americans are...
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U.S. Begins Yet Another Fiscal Year Without a Budget


Monday October 4th, 2010   •   Posted by Randall Holcombe at 3:49am PST   •   1 Comment

October 1 is the beginning of the federal government’s 2011 fiscal year. Congress has not passed a budget, and it appears likely that one won’t be passed until January. The government that wants to take over and run your health care (and other aspects of your life) can’t even pass its own budget. One...
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MyGovCost enables us to understand impact of federal spending


Saturday October 2nd, 2010   •   Posted by David Theroux at 1:58am PST   •   1 Comment

In a new article in the Washington Examiner, “For a frugal Gal, I have got a lot of debt,” Tina Korbe discusses the merits of the Government Cost Calculator at MyGovCost.org: “Among my friends, I’m known for my frugality. I budget scrupulously, log every purchase I make in a ledger and often forego even...
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