SNAP, the federal food stamp program, is getting snapped up by Democrats these days, hungry for savings to placate deficit hawks and clear the way for legislation. (more)
Using the classic Washington fib that “It’s paid for,” Congress is spending an extra $26-billion to bail out state governments (who already got the lions’ share of last year’s failed $787-billion “stimulus” bill). (more)
In the final hours, Senate Majority Leader Harry Reid (D-NV) accepted the inevitable: an energy package was simply not going to pass before the August recess. (more)
It’s not a news flash that the rapid growth of the federal government is alarming a large number of Americans. Their outrage is witnessed in the rise of the Tea Party movement that marched on the National Mall and flocked to town hall meetings with an “SOS message” to Congress: Stop Over-Spending! But are lawmakers hearing this plea? A recent study from the National Taxpayers Union Foundation (NTUF) provides clues that at least some may be opening their ears. For the first time in over a decade, there is a rising number of representatives and senators whose legislative agendas, if enacted into law, would decrease spending. (more)
Let us review the recent record on federal spending stimulus and its relationship to GDP growth, about which data are freely available from the Bureau of Economic Analysis. In February 2008, $165 billion—for the most part, dollar transfers to the states and increased federal outlays—was spent as economic “stimulus.” In 2009, the infamous $862 billion Obama stimulus package was enacted, comprising spending increases of $574 billion and various tax reductions of $288 billion. Over the last few months, with the looming elections and monstrous polling numbers concentrating the minds of White House and Congressional leaders, proposals for $100-200 billion in additional “stimulus” spending have been prominent. (more)
Transportation Secretary Ray LaHood said on Wednesday that despite all their public criticism, Republican lawmakers tell him in private that they think the administration’s stimulus package has been a success. (more)
Progressive ‘journalists’ coordinated smear against critics of Rev. Wright — Reporters harangue a sweaty Robert Gibbs after Obama mischaracterizes fight over unemployment benefits — Dueling Tea Party leaders channel Hamilton and Burr (sort of!) — Congressman points out that signs heralding stimulus are not a good use of the stimulus — How is Obamacare helping FLOTUS? Oh right, it’s not — Cops don’t want to be filmed doing anything ever again (more)
One of Obama’s hand-picked fiscal commissioners calls him a liar — Lad mag offers Democrats an econ lesson — Former health care execs cannot stop patting one another’s butts — If you smoke, shoot, or booze, the government robbed you good this year — Obama flunky is crushed that businessmen do not want to listen to her monotone nonsense all day — Why are Democrats punishing the poors who have no jobs? (more)
This week the President’s Council of Economic Advisors released a report claiming that the 2009 Stimulus Act had created or “saved” 3 million jobs. They further stated that the Act would be responsible for 3.5 million jobs by the end of the year. Coincidentally, this is the exact number of jobs predicted by the Council when the bill was passed. (more)
As the midterm election season approaches, new road signs are popping up everywhere – millions of dollars worth of signs touting “The American Reinvestment and Recovery Act” and reminding passersby that the program is “Putting America Back to Work.” (more)
Many states are lobbying the Senate to extend the Medicaid bailout enacted in the February 2009 stimulus bill. While several attempts by Senate leaders to extend the bailout—passed by the House—have failed, it is likely to be brought to the floor again. (more)
When it comes to government spending, “stimulus” apparently means never having to say “enough.” (more)
The joys of summer are upon us, foremost among them the approaching Congressional recess in a mere month. As Mark Twain might have put it: Freedom is spelled “Congress out of session”. It is a grim truth that enormous damage still could be done in this remaining time, but the forthcoming departure for home districts and states offers hope that the mischief will be limited and that the elections this fall will restore some measure of sanity to federal policymaking. (more)
Millions of people will lose their health insurance and unemployment benefits because of the Senate stalemate over a tax package. (more)
WASHINGTON (AP) – Republicans on Thursday defeated Democrats’ showcase election-year jobs bill, including an extension of weekly unemployment benefits for millions of people out of work more than six months. (more)
House Democrats will not pass a budget blueprint in 2010, Majority Leader Steny Hoyer (D-Md.) will confirm in a speech on Tuesday. (more)
It’s getting difficult to keep track of all the energy proposals that are on the table. We’ve got Sen. Jeff Bingaman’s (D-N.M.) original American Clean Energy Leadership Act, as well as the Waxman-Markey American Clean Energy and Security Act that passed the House last year with a 20 percent renewable energy standard and ambitious emissions cuts. Sen. Maria Cantwell (D-Wash.) and Sen. Susan Collins (R-Maine) released their CLEAR Act with a cap-and-dividends program shortly before Sen. John Kerry (D-Mass.) and Sen. Joe Lieberman (I-Conn.) released their American Power Act with a cap-and-trade program. Not to mention, the Environmental Protection Agency (EPA) is attempting to get in the game with greenhouse gas regulations, and Sen. Lisa Murkowski (R-Alaska) and others are attempting to stop them. Who can keep track of all the legislative proposals in the chaos? (more)
Although Greece’s output is just over two percent of the European Union economy, its financial collapse roiled continental markets and required an international bailout package. Imagine what would happen to U.S. markets if California, which is 13 percent of the national economy, experienced a Greek-style implosion. (more)
Congressional Budget Office estimates released Tuesday predict the health care overhaul will likely cost about $115 billion more in discretionary spending over ten years than the original cost projections. (more)























