Archive for November, 2014

Debt Death Spiral Watch


Saturday November 29th, 2014   •   Posted by Craig Eyermann at 11:05am PDT   •   1 Comment

CNSNews’ Terence Jeffrey just happened to read the Daily Treasury Statement released by the U.S. Treasury Department on the day before Thanksgiving. Here’s what he found (we’ve added the notes in parentheses to make the very large numbers easier to express): The Daily Treasury Statement that was released Wednesday afternoon as Americans were preparing...
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Pillage People Hold Lifetime Contract


Wednesday November 26th, 2014   •   Posted by K. Lloyd Billingsley at 5:40am PDT   •   1 Comment

It may not be baseball season, but outfielder Giancarlo Stanton of the Miami Marlins has signed a 13-year contract for $325 million, reportedly the richest deal in the history of sports, at least in North America. That contract reflects the willingness of baseball fans to plunk down their money to see Stanton play. But...
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When Will the U.S. National Debt Exceed $18 Trillion?


Tuesday November 25th, 2014   •   Posted by Craig Eyermann at 6:20am PDT   •   2 Comments

Sometime in the next two to three weeks, the total public debt outstanding for the U.S. government will exceed 18 trillion dollars. If you were to ask us to pin down a precise date, we would say sometime around December 9, 2014, given the rate at which the national debt has been increasing during...
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Government Regulatory Surge Will Neuter Internet


Monday November 24th, 2014   •   Posted by K. Lloyd Billingsley at 9:58am PDT   •   0 Comments

The Internet is a flywheel of innovation, changing virtually every aspect of life in the nation, from commerce through entertainment and certainly journalism. The Internet was not invented by Al Gore, vice-president of the United States under Bill Clinton. But now president Barack Obama, in the wake of a mid-term election defeat, wants to...
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Entitlements Squeezing Out Everything Else


Friday November 21st, 2014   •   Posted by Craig Eyermann at 6:50am PDT   •   1 Comment

How much has government spending for things like Medicaid, Medicare, Social Security, Affordable Care Act subsidies, unemployment benefits, and other welfare programs grown since today’s Social Security recipients were born? The National Interest‘s Milton Ezrati has the numbers: These constraints are crystal clear in existing budget data. Entitlements have grown relentlessly over the decades,...
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Government Wings It on Waste


Wednesday November 19th, 2014   •   Posted by K. Lloyd Billingsley at 6:10am PDT   •   0 Comments

At the end of our recent piece on the Great Crane Giveaway, we observed that “when it comes to big government and bureaucracy, things are always worse than they seem.” As it turns out, the crane giveaway wasn’t the end of it, as San Francisco Chronicle columnists Phillip Matier and Andrew Ross point out....
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How Generous Are Military Benefits?


Tuesday November 18th, 2014   •   Posted by Craig Eyermann at 7:02am PDT   •   0 Comments

Tom Slear retired from the U.S. Army in 2001 after reaching the rank of lieutenant colonel in a career spanning 28 years, 23 as a reservist, where he specialized in logistics and never faced combat. He recently wrote an opinion piece in the Washington Post, in which he described veterans benefits as “too generous.”...
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Government Scam Cell Anniversary


Monday November 17th, 2014   •   Posted by K. Lloyd Billingsley at 9:48am PDT   •   0 Comments

California’s $3 billion Stem Cell Research and Cures Act, Proposition 71, promised life-saving cures and therapies for a host of afflictions. In 2004 voters approved the measure, which created the California Institute for Regenerative Medicine (CIRM). Ten years later, David Jensen of the California Stem Cell Report shows how that is working out for...
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The Federal Student Loan Racket


Friday November 14th, 2014   •   Posted by Craig Eyermann at 7:11am PDT   •   1 Comment

Since 2008, roughly $1 out of every $10 new dollars borrowed by the U.S. government through the end of its 2014 fiscal year has gone to fund the Federal Direct Student Loan program, which lends the money borrowed by Uncle Sam to college students at over double the interest rate that the U.S. government...
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Bay Bridge Crane Giveaway Another Bad Deal for Taxpayers


Wednesday November 12th, 2014   •   Posted by K. Lloyd Billingsley at 5:34am PDT   •   1 Comment

As we have noted, the new eastern span of the San Francisco–Oakland Bay Bridge came in $5 billion over budget, a full ten years late, and with doubts about its safety. One UC Berkeley structural engineering professor declines to use the new span. In Sacramento hearings on the safety theme, insiders called for a...
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