Archive for December, 2013

The Waste Inherent in the System, Continued


Monday December 16th, 2013   •   Posted by K. Lloyd Billingsley at 9:23am PST   •   1 Comment

As this column documents, the federal government is an engine of waste, fraud and abuse lately exemplified by Obamacare and the stimulus package. For their part, state governments are fond of boondoggles such as California’s so-called “bullet train.” But when calculating the cost of government, taxpayers would be wise to factor in local waste...
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Fine Idea to Save Obamacare?


Thursday December 12th, 2013   •   Posted by K. Lloyd Billingsley at 7:28am PST   •   0 Comments

As we have noted, Obamacare violates medical ethics by first doing harm. In the early going, in violation of repeated presidential promises, Obamacare stripped many embattled Americans of the health plans they had selected. This pushed them toward the dysfunctional and insecure Obamacare website, where they would get the news about higher premiums and bigger...
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A Two-Year Budget Deal


Wednesday December 11th, 2013   •   Posted by Craig Eyermann at 6:12am PST   •   0 Comments

As we expected, the chairs of the House and Senate budget committees, Paul Ryan and Patty Murray, reached a deal in setting the amount of federal government spending for the next two years. The Washington Post reports on the particulars: Under the terms of the deal, spending for the Pentagon and other federal agencies...
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Feds Lose $10.5 Billion on Government Motors


Tuesday December 10th, 2013   •   Posted by K. Lloyd Billingsley at 8:47am PST   •   1 Comment

On December 9, the federal government dumped the rest of its 30 million shares in General Motors, which had become known as Government Motors, for good reason. In 2009, the federal government bailed out the bankrupt automaker to the tune of $49.5 billion and once held 60.8 percent ownership in the company. The loss...
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Bullet Train Boondoggle Update


Monday December 9th, 2013   •   Posted by K. Lloyd Billingsley at 9:12am PST   •   6 Comments

According to a recent report, a judge has ordered California’s High-Speed Rail Authority to “rescind its original funding plan, a decision that figures to halt state bond funding for the $68 billion project until a new plan is put in place.” That might slow down the project but taxpayers should recall the reasons it...
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Exploding Medicaid


Sunday December 8th, 2013   •   Posted by Craig Eyermann at 2:08pm PST   •   1 Comment

If Obamacare (aka the “Patient Protection and Affordable Care Act”) has had any success, it has been in signing up more Americans for Medicaid—the federal government’s program for providing free health care to people with poverty-level incomes. Or, thanks to changes mandated by the Affordable Care Act law, a large number of people whose...
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Fed Survey Shows Government Non-Essential for Economic Growth


Friday December 6th, 2013   •   Posted by K. Lloyd Billingsley at 7:37am PST   •   0 Comments

During the recent 16-day partial shutdown of the federal government, the U.S. economy continued to grow, according to this report on a recent survey by the Federal Reserve. In seven of the Fed’s 12 banking districts, growth was moderate and in regions such as Boston the economy continued to expand. Manufacturing was on the...
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IRS Guarantees Obamacare Collapse


Wednesday December 4th, 2013   •   Posted by K. Lloyd Billingsley at 8:47am PST   •   1 Comment

So far Obamacare has been shuffling a deck full of jokers. It’s a bad idea in the first place, based on lies, paternalism and trickery, and enshrined in an elephantine bill few bothered to read but passed anyway. Even supporters such as Montana Democrat Max Baucus described it as a train wreck. The government...
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CoveredCalifornia.Con


Monday December 2nd, 2013   •   Posted by K. Lloyd Billingsley at 11:59am PST   •   0 Comments

As one headline put it, “Health Care Site is Doing Better,” something one would say of a child still in bed with a fever. But even before December 1, when everything was supposed to be fixed, the federal health care website remained troubled. This news came from the New York Times, which was willing...
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Visualizing Public Debt per Person


Sunday December 1st, 2013   •   Posted by Craig Eyermann at 7:58am PST   •   4 Comments

The Washington Post is carrying a story today about the rising economic misery facing the U.S. territory of Puerto Rico, home to 3.67 million Americans, the government of which has racked up $70 billion worth of debt. That places the territory third after California’s $96.4 billion and New York’s $63.3 billion in terms of...
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