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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In an Associated Press article in the San Jose Mercury News, “Parent of Obama-backed battery maker goes bankrupt,”Matthew Daly reports that yet another “green” company that received corporate welfare from the Obama administration has now gone bankrupt. In this case, the electric car-battery company Ener1 received $118 million from the Department of Energy in…
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Crony capitalism is the theme of tonight’s “State of the Union” address. Warren Buffet’s longtime secretary, Debbie Bosanek will be seated next to Michelle Obama at tonight’s speech. Bosanek has recently become the White House’s new symbol for higher taxes and what the administration terms “economic fairness”. But fairness couldn’t be farther from the…
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In new analysis from the Mackinac Center, James Hohman discusses how $3 billion in federal and state funding for General Motors’ Chevy Volt, the much acclaimed “green,” plug-in, hybrid electric vehicle, is costing taxpayers $250,000 per car. As noted by Hohman, the Volt “might be the most government-supported car since the Trabant,” the car…
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Brent Budowsky of The Hill has called for Cong. Ron Paul to hold hearings before the subcommittee he chairs on the news of secret Federal Reserve bailouts of the the biggest banks. The news comes from an article by Bob Ivry, Bradley Keoun and Phil Kuntz at Bloomberg Markets Magazine that the Federal Reserve…
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In his article, “New report cites ‘regulatory tsunami’ under Obama,” Byron York reports in the Washington Examiner that a new report from the House Government Oversight and Reform Committee reveals that instead of his claim to oppose job-killing regulations, President Barack Obama has radically expanded federal regulations, producing a “regulatory tsunami that has stifled…
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There is a lot to not like about the Patient Protection and Affordable Care Act (PPACA, a.k.a. “ObamaCare”), but now that the federal government is spending money allocated by the health care reform law, there’s perhaps even more to not like about it! We’re referring to more than $1.789 billion dollars of corporate welfare…
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John Stossel at Fox Business recently hosted a superb one-hour program, “Freeloaders,” that brings up to date another program he did on the same subject at ABC’s “20/20” in 2006. In the new program, he critiques the welfare state in America and takes on major corporations, millionaire entertainers, panhandlers, Indian Reservations, and anyone on…
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