Tag Archive: Spending


Obama To Propose $3.99 Trillion Budget

 

 

 

 

 

” President Obama is unveiling a $3.99 trillion budget that is “designed to bring middle class economics into the 21st Century,” the White House announced Monday.

  The proposed budget “invests in helping working families make their paychecks go further, preparing hardworking Americans to earn higher wages, and creating the infrastructure that allows businesses to thrive and create good, high-paying jobs,” the White House said in a statement.

  To pay for new tax credits and other programs involving education, child care, paid leave, and new road and bridge construction, the budget calls for tax hikes on wealthier Americans by closing certain loopholes.

  Congressional Republicans said the president’s proposals — many of which leaked out in advance of Monday’s announcement — involve too many tax hikes and high-spending programs.”

 

 

Here are just a few of the goodies to be redistributed by the State under “Uncle” Barack’s proposed budget :

 

 

” Among the economic plans in the proposed budget:

• A child care tax credit of up to $3,000 per child.

• $750 million for a Department of Education preschool development program, an increase of $500 million.

• More than $3 billion for science, technology, engineering and math (STEM) education.

• A $500 tax credit for “second earners” in working families.

• A program encouraging paid leave programs for employees.

• Two years of community college tuition for qualified students, a program that would cost $60 billion over 10 years.

• $1 billion for a “long-term, comprehensive strategy” to develop a Central America “that is fully democratic (and) provides greater economic opportunities.”

    Note that a great deal of this spending is earmarked under the guise of “investment” in education which is just another means of rewarding one of his strongest constituencies , the teacher’s unions .

Read on

 

 

 

 

 

 

 

 

 

 

 

6 Reasons The Math On Obama’s College Plan Doesn’t Add Up

 

Obama Community College

 

” There are at least six reasons that community college won’t be free anytime soon, no matter what President Barack Obama says.

  Obama, who traveled Friday to Pellissippi State Community College in Knoxville, Tenn., to tout the America’s College Promise plan, said he wanted to make higher education as accessible as a high school diploma for all Americans.

  But the plan has flaws that all but ensure it won’t be implemented and will serve only as a political proposal to make supporters happy.”

 

Read more

 

 

 

 

 

 

 

 

 

Obama To Propose Two Free Years Of Community College For Students 

 

 

 

 

 

” President Barack Obama will need the approval of Congress to realize his proposal for making two years of community college free for students.

   So far, that plan doesn’t have an official price tag — other than “significant,” according to White House officials. If all 50 states participate, the proposal could benefit 9 million students each year and save students an average of $3,800 in tuition, the White House said.

  But administration officials insisted on a call with reporters Thursday evening that “this is a proposal with bipartisan appeal.”

  Case in point: Republican Gov. Bill Haslam, whose brainchild Tennessee Promise program strongly influenced Obama’s proposal. Beginning this year, any high school graduate in that state is eligible for two years of free community college tuition under the Tennessee Promise.”

 

 

    Regardless of the “bipartisan appeal” how the f**k is a government that is 18 trillion dollars in the hole supposed to pay for yet another feel-good , vote buying entitlement ? Simple mathematics puts a real figure ($34.2 Billion annually) to the White House’s estimate of a “significant” cost and as always with State spending we can be sure the estimate is a very lowball one . WTF ?

    And putting aside the cost , where in the Constitution is the “right” to a free education ?

   With that in mind , let us not forget what the Obama administration has already “accomplished” in the field of education:

 

 

Student Loan Debt

 

What could possibly go wrong ?

 

 

Read on at Politico

 

 

 

 

 

 

 

 

 

 

$404,155,000,000: Taxes Set Record In First 2 Months Of FY15—Deficit Still $179B

 

Record Tax Revenues for October and November

 

 

 

” The U.S. Treasury continued to rake in tax dollars at a record rate in November as the federal government closed out the first two months of fiscal 2015 with $404,155,000,000 in total receipts, according to the Monthly Treasury Statement released today.

  In constant 2014 dollars, this is the first time federal revenues have topped $400 billion in the first two months of the fiscal year.

  Even with these record revenues, the Treasury ran a deficit of $178.531 billion deficit in October and November as it spent $582.686 billion.”

 

CNS News has more

 

 

 

 

 

 

 

 

 

Total US Debt Rises Over $18 Trillion; Up 70% Under Barack Obama

 

 

 

” Last week, total US debt was a meager $17,963,753,617,957.26. Two days later, as updated today, on Black Friday, total outstanding US public debt just hit a new historic level which probably would be better associated with a red color: as of the last work day of November, total US public debt just surpassed $18 trillion for the first time, or $18,005,549,328,561.45 to be precise, of which debt held by the public rose to $12,922,681,725,432.94, an increase of $32 billion in one day.

 

 

 

 

  It also means that total US debt to nominal GDP as of Sept 30, which was $17.555 trillion, is now 103%. Keep in mind this GDP number was artificially increased by about half a trillion dollars a year ago thanks to the “benefit” of R&D and intangibles. Without said definitional change, debt/GDP would now be about 106%.

  It also means that total US debt has increased by 70% under Obama, from $10.625 trillion on January 21, 2009 to $18.005 trillion most recently.

  And now we wait for the US to become Spain, and add the estimated “contribution” from hookers and blow to GDP, once again pushing the total debt/GDP ratio below the psychological 100% level.”

 

 

And to think that just three short years ago Obama was speaking of reducing our then $14 trillion debt …

 

 

 

 

 

 

   Heck of a job Barack especially when one takes into consideration the record tax receipts the Federal government has been taking in . Be sure to check out the National Debt Clock . Bookmark it and keep up .

Thanks to Zero Hedge

 

 

 

 

 

 

 

 

 

Prefer GOP On Seven Of 13 Election Issues; Democrats, On Just Four

 

2014 Midterm Issues: Importance and Party Advantage

 

 

” The Republicans in Congress hold significant leads over the Democrats on four of the six issues that U.S. registered voters say are most important in determining how they will vote in November: the economy, the way the federal government is working, the situation with Islamic militants in Iraq and Syria, and the federal budget deficit. Democrats, by contrast, top their Republican rivals on just one of the six: “equal pay for women.”

  These results are from a Sept. 25-30 poll in which Gallup asked registered voters to rate the importance of 13 issues to their vote for Congress, and then to indicate which party would do a better job on each issue. The accompanying graph simultaneously displays the rankings of these issues on both dimensions. The higher an issue is, the greater the Republican Party’s advantage. And the farther to the right an issue is, the more important it is to the electorate.

  The 13 issues measured in the new poll include eight that appeared in a Gallup Poll conducted in April, before the midterm campaign season came into full bloom, plus five new ones. In total, six issues were rated above the average of 69%, in terms of the percentage of voters saying they are extremely or very important to their vote:

  1. the economy (88%)
  2. the availability of good jobs (86%)
  3. the way the federal government is working (81%)
  4. the situation with Islamic militants in Iraq and Syria (78%)
  5. equal pay for women (75%) and
  6. the federal budget deficit (73%)

  On the No. 1 issue, the economy, Republicans have more than doubled their April lead over Democrats, to 11 percentage points. “

 

Read the rest at Gallup

 

 

 

 

 

 

 

 

 

 

One Handy Animated Infographic Shows What The U.S. Spends Our Taxpayer Money On Every Second

 

 

 

 

 

 

” PolicyMic came up with a handy infographic that shows how the U.S. spends of American taxpayer’s money: $15,700 every second.

  As you can see, there’s a lot of blinking going on, but not much ado about the U.S.’ burgeoning welfare state – and the over $17 trillion in national debt that comes with it (not to mention the roughly $100 trillion in debt liabilities). “

 

 

Read more from Kyle Becker at IJR

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

During Obama’s Presidency, National Debt Has Grown by $61K Per Household

 

 

 

 

 

” You may have heard pundits time and time again dismiss America’s debt problem, touting that the deficit has fallen by 50 percent since 2009.

Yet that sidesteps the real issue: the massive amount of debt the country has taken on in the past six years has put the nation in a vulnerable position as entitlement spending is set to take off and big-spending policies continue to pile on debt. Indeed, the United States has added $7.06 trillion of debt since President Obama took office—far more than under any previous president. “

 

Read more and weep

 

 

 

 

 

 

 

 

 

 

Australia’s Global Warming Budget Is About To Get Slashed By 90 Percent

 

 

 

 

” Australia’s conservative coalition is set to cut more than 90 percent of the funding related to global warming from their budget, from $5.75 billion this year to $500 million, over the next four years.

  Environmentalists and leftist politicians in the country protested the move by conservative Liberal Party Prime Minister Tony Abbott’s governing coalition to slash funding for climate programs, arguing such funding for green energy and reducing carbon dioxide emissions were necessary to stop global warming.

  But Abbott’s government shot back, saying that the country needed to reduce the size of government and improve the economy.

” The coalition government acknowledges the role of renewable energy in Australia’s energy mix,” said Industry Minister Ian Macfarlane. “There is over $1 billion in funding for existing renewable projects to be completed over the coming years.” “

 

Read more

 

 

 

 

 

 

 

 

 

 

These Companies Spend The Most Money To Kill Net Neutrality

 

 

 

 

” With the Federal Communications Commission’s (FCC) decision to move forward with a controversial proposal that threatens net neutrality and the open Internet, lobbying activity looks like it has reached a fevered pitch. But for the companies involved—especially the telecom companies that are eager to be allowed to charge more for a “fast lane” of Internet service—lobbying has been at a fevered pitch for almost a decade.

  Going back to 2005 (when the phrase “net neutrality” first shows up in lobbying disclosure reports), the principle’s biggest opponents (Verizon, AT&T, Comcast and their allies) have lobbied against net neutrality about three times as hard as the biggest proponents of neutrality (Level 3, Google, Microsoft and their allies).

  To better understand the lobbying dynamics around net neutrality, we took the long view and tallied up the 20 lobbying organizations that mentioned “net neutrality” or “network neutrality” most often in their lobbying reports between 2005 and 2013. In the top 20, we found an even split: 10 pro-neutrality organizations and 10 anti-neutrality organizations. But when it came to intensity, the lobbying was far from balanced. The top pro-neutrality organizations filed 176 lobbying reports mentioning net neutrality. But the top anti-neutrality organizations far outpaced them, filing 472 reports that mentioned net neutrality. That’s a 2.7-to-1 ratio.”

 

The Daily Dot

 

 

 

 

 

 

 

 

 

 

Do You Know Where Your 2014 Taxes Will Go? Well, Here’s An Amazing Infographic Which Breaks It Out Beautifully

 

 

Death and Taxes 2014: US Federal Budget
Click To Enlarge

By jess. Explore more visuals like this one on the web’s largest information design community – Visually.

HT/Against Crony Capitalism

Disarming The Warriors

 

 

 

Published on Apr 11, 2014
” We are defanging our military. What’s more, is that we are taking away their basic human rights to defend themselves, their Second Amendment rights to bear arms in their own self-defense, while asking them to volunteer to defend us. Moreover, we are choosing time and time again to deny them the mental health and veterans’ benefits, while giving more money to entitlements for other communities. Meanwhile, shootings on bases have occurred now multiple times, and 22 people in our armed services commit suicide daily. This is unacceptable–hear why in this Afterburner with Bill Whittle.”

McConnell On Tea Party: ‘We Are Going To Crush Them Everywhere’

 

 

McConnell Crush Tea Party

 

 

 

” Senate Minority Leader Mitch McConnell (R-Ky.) predicted that GOP incumbents would “crush” insurgent Tea Party-backed candidates in primaries this year. 

“ I think we are going to crush them everywhere,” McConnell told The New York Times during an interview on Saturday. “I don’t think they are going to have a single nominee anywhere in the country.”

McConnell added: “I know this: Politics doesn’t like losers. If you don’t have anything to point to, it is kind of hard to keep it going.” “

 

 

    You’re right about one thing McConnell , politics doesn’t like losers … You and Boehner being perfect examples . Read more about where McConnell’s true allegiance lies here and be forewarned it is not with the people or fiscal responsibility …

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Debt Exceeds $100 Trillion As Governments Binge, BIS Says

 

 

 

” The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession and companies took advantage of record low interest rates, according to the Bank for International Settlements.

  The $30 trillion increase from $70 trillion between mid-2007 and mid-2013 compares with a $3.86 trillion decline in the value of equities to $53.8 trillion in the same period, according to data compiled by Bloomberg. The jump in debt as measured by the Basel, Switzerland-based BIS in its quarterly review is almost twice the U.S.’s gross domestic product.”

 

 

But we’ve been on an austerity budget you say … think again .

 

 

” Marketable U.S. government debt outstanding has surged to a record $12 trillion, up from $4.5 trillion at the end of 2007, according to U.S. Treasury data compiled by Bloomberg. Corporate bond sales globally jumped during the period, with issuance totaling more than $21 trillion, Bloomberg data show.”

 

 

 

    Read the whole sorry article . We are being run into the ground by the very individuals charged with solving the problem . Apparently all of the major governments of the world believe as that sage of DC Joe Biden does that :

 

 

 

   We are systematically being turned into debtor nations with the goal of making us all subservient to the State . This is the Road to Serfdom .

 

 

 

 

 

 

 

 

A Primer On State and Local Tax Policy: Trade-Offs Among Tax Instruments

 

 

 

 

” The choice of tax instruments by a state or local government has wide-ranging implications for the economy, and the amount of revenue to be raised should not be the sole criterion used in developing tax policy. The trade-offs between various tax instruments, including revenue, fairness, and collection cost, should all be incorporated in these decisions.

  In a new study for the Mercatus Center at George Mason University, Justin M. Ross defines five criteria for evaluating tax policy and uses them to give a clear overview of the different types of taxes utilized by state and local governments.

  For the complete study, see “A Primer on State and Local Tax Policy: Trade-Offs among Tax Instruments.” “

 

 

 

 

 

 

 

 

From Rand Paul Comes This Reminder Of Why Everything Government Costs So Much

 

 

 

 

 

    In the event that our readers had any doubts as to why a proposed $60 million project , as mentioned in our previous post , ends up costing $94 million this picture should serve as a stark reminder of the cost of government business .

 

 

 

 

 

 

 

 

 

 

 

     While we have posted this before we thought that ,  with the debt ceiling having been reached again last Friday night just a few short months after the last cavalcade of Congressional hypocrisy , it would be a good time to reacquaint our readers with the insanity that governs Congress and it’s spending habits .

 

 

 

Uploaded on Nov 4, 2011

” The United States debt limit explained. A satirical short film taking a look at the national debt and how it applies to just one family. The watch our follow up video: Knock Knock IRS
http://www.youtube.com/watch?v=ZtJX0V…

  Watch the guy from the Sprint Ads, Ferris Bueller Superbowl Spot and plays Arwin! (also in the upcoming film PAIN AND GAIN) Produced by Seth William Meier, DP/Edited by Craig Evans, 1st AC Brian Andrews, Sound Mixer Gus Salazar, Written and Directed by Brian Stepanek. Help us spread the word by clicking ads or at http://www.debtlimitusa.org.
as seen on STOSSEL on Fox Business “

 

 

 

 

 

 

 

 

Stuck In Congressional “Groundhog Day”

 

 

” In the movie “Groundhog Day,” Bill Murray wakes up again and again to find that he is stuck in the same day. This happens multiple times a year now with Congress on the debt limit, which we just hit again on Saturday.

  Depending on which party’s in power, the ones arguing for or against raising the debt ceiling will change—which makes for fun historical quotations like Obama vs. Obama on the debt limit. In our new video, you can see politicians from both sides arguing the debt limit—and vowing that they will not, absolutely not, have this same argument again next year.”

 

But wait , the problem gets worse …

 

” Just since the limit was suspended in the fall, Washington has borrowed nearly $600 billion. So what happens if lawmakers throw up their hands and abandon the debt limit for a year? Romina Boccia, Heritage’s Grover M. Hermann Fellow, warns:

  The debt limit serves as an important congressional check on federal spending and borrowing. Without a debt limit, all control over borrowing decisions shifts to the Treasury secretary, who is appointed by the president. Effectively, this concentrates borrowing authority in the executive branch, and hands the president a blank check to borrow against the U.S. taxpayer.

  President Obama is already threatening to disregard Congress and use executive actions to make laws. Will he have all the borrowing power, too? Does Congress do anything anymore? “

 

Courtesy of Heritage.org read it all .

 

 

 

 

 

 

 

 

Mark Sanford Returns Over 25 Percent Of Budget

 

 

 

 

 

” This week, Rep. Mark Sanford (R-S. Car.) returned over 25 percent of his congressional office budget to the U.S. Treasury. Sanford said in a press release Thursday:

  I have long believed that those in government need to spend taxpayer dollars as they would spend their own, both carefully and deliberately. Too often in government there is a distance between what a bureaucrat might spend money on and what a taxpayer would. Our office approaches this fundamental question from the side of the taxpayer and I believe our end-of-year surplus reflects that.

  Today I am pleased to announce that our office returned $231,140.30 or 28.8% of the taxpayer dollars provided to our office by the House of Representatives for 2013.

  Senator Rand Paul returned $600,000 to the U.S. Treasury in 2013 and returned $500,000 in 2012, both constituting around 20 percent of his annual senate budget.”

 

 

Rare has more

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The  United States Of Hunting From Wide Open Spaces 

 

 

united-states-of-hunting-info

 

 

 

” The infographic kicks things off with the Grandfather of American hunting, Teddy Roosevelt, and a great historic quote of his. From there, well, you know what an infographic is. Some of the numbers are pretty impressive: $10.4 billion in travel expenses? That’s pretty significant.

  Take a look at the rest of the facts and figures in the infographic, and be sure to click on the image for a larger, zoomable version.”

 

 

Thanks To Wide Open Spaces & Bass Pro Shops

 

 

 

 

 

 

 

 

Justice Dept To Spend $544,000 On A…WHAT!? You Won’t Believe This.

 

 

 

 

” According to the government website FedBizOpps.gov, the U.S. Department of Justice’s Criminal Division is spending $544,000 on a new LinkedIn profile:

The U.S. Department of Justice’s Criminal Division is paying $544,000 for a shiny new LinkedIn profile, in the wake of a partial government shutdown that followed a top Democrat’s assurance that ‘the cupboard is bare, there’s no more cuts to make.’ “

 

 

 

 

 

 

 

 

How Many Will Crash By November 2014?

 

 

2013JobGrowthVs1983to1988

 

 

” As 2014 begins, President Barack Obama’s approval rating is at its lowest point in his five-year tenure. Imagine where it would be if the establishment press treated him the way it did George W. Bush.

The president’s media apparatchiks are propping up what remains of the president’s popularity with five myths.

1. The economy has become strong, and is getting stronger.

  Media reports have been calling recent job gains “robust.” Hardly. 2013′s estimated job growth of almost 2.4 million is still only 60 percent of what was achieved annually on a population-adjusted basis for a full six years during the 1980s. (See chart below.)

  Job growth should be far greater, because there is still so much ground to make up from the disastrous POR (Pelosi-Obama-Reid) economy-driven recession of 2008-2009.

  It’s bad enough that payroll employment is still 1.3 million below its January 2008 peak. It’s worse that employment in the Household Survey is 2 million shy of where it was in that same month. If we’re lucky and this plodding progress continues, it will have taken almost seven years for that more comprehensive measure of employment to return to where it was before the recession began — and several more years, if ever, before a recovery in employment catches up to eligible adult population growth.”

 

 

PJMedia has more

“My One-Item Christmas List: A Government That Stops Playing Santa”

 

 

 

” I’ve got a new column up at Time’s Ideas section. Here’s the opening:

  Forget a new car, Beats by Dre, or even affordable health care. You know what I really, really, really want for Christmas?

  I want a government that spends less money. I’m not alone in such a wish. Even President Obama, who has asked for more and more spending in each of his annual budget proposals, has called the nation’s long-term spending patterns “unsustainable.” “

 

 

 

 

 

 

 

 

A Budget Of Wimps

 

 

” If you weighed 1,000 pounds, would people notice you lost weight if you went down to 999 pounds?

  In Congress, the Republicans feared there would be another shutdown they would be blamed for.  They compromised with Democrats and presented a budget of wimps.  During the next ten years, they will cut spending by $23 billion.  The sequester, which would have cut the budget by much more than that, was done away with for fear it would keep politicians from wasting more money.  What about the debt ceiling that we will have to raise?  The Democrats complain about trickle-down economics in which the rich invest in the economy, create jobs, and purchase expensive things that again require people to service them.  They practice it all the time when they privately invest their money to produce a return that is much larger than what retired people receive from Social Security.”

 

 

 

 

 

 

 

 

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