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Harry Reid ridicules saving $54,000,000,000! Only in America…
Republican Senator Everett Dirksen is widely credited with saying, “A billion here, a billion there, and pretty soon you’re talking real money.” Fifty years ago the people’s representatives used to fret over spending amounts of money with nine zeros. Not any more. President Obama’s first budget calls for nearly $1,000,000,000,000 [...]
Posted by Jerry Pomeroy as Government Waste, Health Insurance Debate, Video at 4:37 PM UTC
Just last Monday, President Obama offered some tough talk about deficit spending, promising to halve our nation’s annual shortfall by the end of his first term. To the uninitiated that might sound like a good thing, but average Americans who have been paying attention to recent government red ink found little comfort in the President’s remarks. According to [...]
Posted by Jerry Pomeroy as Budgets, Government Blunders, Government Waste, Obama Presidency at 3:18 PM UTC
As expected, the stimulus bill just passed by the Senate is short on economic stimulation and long on liberal coercion. Betsy McCaughey of Bloomberg.com (“one of the five most-trafficked financial sites on the Web” according to Google) uncovered disturbing sections of the legislation that create a new medical bureaucracy armed with menacing powers no liberty loving American [...]
Posted by Jerry Pomeroy as Best Of the Web, Budgets, Economics, Government Waste, Health Insurance Debate, Video at 6:09 PM UTC
Readers of the Los Angeles Times were shocked last Friday [January 30, 2009] by a full-page ad appearing on page A-10. The CATO Institute had the audacity to challenge President Obama’s assertion that government intervention is essential if the American economy is to recover. The ad was signed by over 200 economists, and the page contained the following [...]
Posted by Jerry Pomeroy as Economics, Government Waste, Limiting Government, Obama Presidency at 6:51 PM UTC
The video contains a discussion of President Obama’s stimulus plan, followed by “Trillion Dollar Rip-Off.”
The news is out: our government has mis-managed $350,000,000,000, or half of the money appropriated by legislation known as the Troubled Assets Relief Program, aka TARP. After Congress spliced together 450+ pages of bad ideas over the span of a few days, the funds were hurriedly and recklessly [...]
Posted by Jerry Pomeroy as Economics, Government Waste, Video at 1:54 PM UTC
In 1982 President Ronald Reagan asked the Grace Commission to identify waste in government and ways to eliminate it. The commission’s much debated report, issued in January of 1984, provided a shocking inventory of bureaucratic squandering, highlighting fiscal malfeasance of epic proportions. Hundreds of billions of dollars were being wasted, claimed the commissioners, and if massive adjustments were [...]
Posted by Jerry Pomeroy as Government Waste, Limiting Government at 5:18 PM UTC
President-elect Barack Obama yesterday placed his cards face up on the nation’s table. Speaking at George Mason University, Obama declared that “…only government can provide the short-term boost necessary to lift us from a recession this deep and severe. Only government can break the cycle that is crippling our economy….” The Los Angeles Times noted the contrast [...]
Posted by Jerry Pomeroy as Economics, Government Blunders, Government Waste, Obama Presidency at 4:36 PM UTC
NASA has released a vivid and heartbreaking account of the Columbia astronauts’ final moments aboard their doomed craft. Moving faster than MACH 20 and flying above 200,000 feet, Columbia disintegrated as super-heated air poured into the damaged left wing. Insulating foam had broken loose from the external fuel tank on lift-off some 81 seconds into the flight, punching a 10-inch hole in the wing’s leading [...]
Posted by Jerry Pomeroy as Government Blunders, Government Waste, Video at 3:15 PM UTC
(Mike Tanner discusses his new book: Leviathan on the Right: How Big-Government Conservatism Brought Down the Republican Revolution, very worthwhile listening.)
“Bush projects record federal deficit,” declared my local paper’s headline. The $482 billion shortfall breaks the old record for borrowed expenditures, set in 2004, by some $69 billion. Of course, if the economy doesn’t perform as expected, [...]
Posted by Jerry Pomeroy as Budgets, Government Waste, Limiting Government, Video at 4:52 PM UTC
Back in the good old days of 1995, when Republicans controlled both houses of Congress for the first time in anyone’s memory, conservatives began clamoring in earnest for a balanced federal budget. President Nixon submitted the last black-ink account in 1974, and trillions of debt had accumulated since that memorable year. Now was the time, said the newly installed Republicans, [...]
Posted by Jerry Pomeroy as American Dependence, Budgets, Campaign 2008, Government Waste, Health Insurance Debate, Video at 4:35 PM UTC