Archive for August, 2012

U.S. Government’s Ethanol Boondoggle Raising Food Prices Worldwide


Thursday August 16th, 2012   •   Posted by David Theroux at 12:36am PDT   •   4 Comments

The Wall Street Journal reports in “Ethanol vs. the World: The corn fuel mandate is raising food prices and hurting the poor,” that the massive federal corporate welfare subsidies to corn farmers and mandates for ethanol production are “a man-made disaster that could be stopped if the EPA or others in Washington cared for...
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All Aboard Amtrak for “Fraud, Waste and Abuse”


Friday August 10th, 2012   •   Posted by K. Lloyd Billingsley at 4:05pm PDT   •   4 Comments

Amtrak holds a monopoly on food and beverage sales on Amtrak trains. That has not prevented the taxpayer-funded rail system from losing nearly $1 billion—a full $834 million—on those services since 2002, about $80 million a year. In 2011 Amtrak spent $206 million on food services but collected only about $121 million. A hamburger...
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The Postal Service’s Fiscal Fiasco


Friday August 10th, 2012   •   Posted by Craig Eyermann at 2:20pm PDT   •   6 Comments

The news for the fiscal future of the U.S. Postal Service is grim: WASHINGTON (AP)—The nearly bankrupt U.S. Postal Service on Thursday reported losses of $57 million per day in the last quarter and warned it will miss another payment due to the U.S. Treasury, just one week after its first-ever default on a...
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Feds Binge on Cars as “Government Motors” Profits Plunge


Wednesday August 8th, 2012   •   Posted by K. Lloyd Billingsley at 2:59pm PDT   •   3 Comments

Fiscal woes in Washington have not prevented the federal government from buying 29,000 new vehicles over the past six years. That brings the federal government’s fleet of cars to 449,000, nearly one for every seven federal employees, according to the Detroit News, based on a recent report from the Government Accountability Office. The federal...
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$100 Billion of Corporate Welfare


Wednesday August 8th, 2012   •   Posted by Craig Eyermann at 9:37am PDT   •   14 Comments

How much welfare do corporations receive as a direct cash benefit from the U.S. government? According to a recently published Cato Institute policy analysis, it’s nearly 100 billion dollars. We mined the report to visualize which U.S. government agencies or spending categories are the biggest recipients of the largesse of U.S. politicians: The majority...
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Projecting the Per Capita Cost of ObamaCare


Friday August 3rd, 2012   •   Posted by Craig Eyermann at 10:30am PDT   •   2 Comments

How much extra in federal government spending will the Patient Protection and Affordable Care Act cost each American each year from now through 2022? To find out, we extracted the annual gross spending figures the Congressional Budget Office just updated for each year from 2012 through 2022 and divided those figures by the U.S....
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Subsidy Nation


Friday August 3rd, 2012   •   Posted by Burt Abrams at 10:03am PDT   •   3 Comments

How much will the Affordable Care Act (ObamaCare) cost us? Craig Eyermann’s July 25th blog post lays out the various tax increases that are expected under the Act. Another way of looking at the Act and the taxes that will be needed is provided by the Kaiser Family Foundation’s subsidy calculator. The calculator provides estimates for the...
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Free-spending Government Miracle Workers a Bust on Results


Wednesday August 1st, 2012   •   Posted by K. Lloyd Billingsley at 2:52pm PDT   •   2 Comments

The California Institute for Regenerative Medicine (CIRM) has awarded $53 million to the University of California at Davis for research into Huntington’s disease and other maladies. The state stem-cell agency has given a total of $126 million to UC Davis and handed out nearly $1 billion overall, without producing any cures or therapies. Created...
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