And So I Go: Yesterday, Today and Tomorrow

Archive for the ‘Financial Industry Reform’ Category

The following article is from the Heritage Foundation and is a listing of studies made by various groups on the state of our government and social programs.  I found many of them informative and felt that perhaps my Readers would also.  Just check out the listings and click on the topics that interest you.   You may also wish to subscribe and have the Insider Online newsletter delivered to your home page.  sincerely, BB

 

Updated daily, InsiderOnline (insideronline.org) is a compilation of publication abstractshow-to essaysevents, news, and analysis from around the conservative movement. The current edition of The INSIDER quarterly magazine is also on the site.


June 22, 2013

Latest Studies: 38 new items, including a Manhattan Institute report on the student debt problem, and an American Legislative Exchange Council report on environmental overcriminalization

Notes on the Week: Not even low-income workers can count on benefiting from ObamaCare, things to know about the CBO’s immigration scoring, and more

To Do: Keep an eye on Russia

Latest Studies

Budget & Taxation
• Four Tenets to Less Government Spending – e21 – Economic Policies for the 21st Century
• The Municipal Government Debt Crisis – Heartland Institute
• Proposed New Farm Programs: Costly and Risky for Taxpayers – The Heritage Foundation
• Soaring National Debt Remains a Grave Threat – The Heritage Foundation
• Taxing Online Sales: Should the Taxman’s Grasp Exceed His Reach? – The Heritage Foundation
• The Big Choice for Jobs and Growth: Lower Tax Rates Versus Expensing – The Heritage Foundation
• The Many Real Dangers of Soaring National Debt – The Heritage Foundation
• The Simple Economics of Pro-Growth Tax Reform – The Heritage Foundation
• Turn Down the Heat, Switch On the Light: A Rational Analysis of Tax Havens, Tax Policy and Tax Politics – Institute of Economic Affairs
• The Best Solution from Both Budgets: “Reverse Logrolling” Shows the Best Option for Government Spending and Tax Reform – John Locke Foundation
• Creating a Fair Property Tax System: Is it Possible? – Public Interest Institute
• Kansas 2013 Tax Reform Improves on Last Year’s Efforts – Tax Foundation
• New Zealand’s Experience with Territorial Taxation – Tax Foundation
• A Review of the 83rd Session of the Texas Legislature – Texas Public Policy Foundation
• Virginia Economic Forecast 2013-2014: State to Add Jobs Despite Sequestration – Thomas Jefferson Institute for Public Policy

Crime, Justice & the Law
• Ignorance of the Law Is No Excuse, But It Is Reality – The Heritage Foundation
• Comeback States Report: Reducing Juvenile Incarceration in the United States – Texas Public Policy Foundation
• Scientific Evidence in State Courts: Florida Reform as a Model – Washington Legal Foundation

Education
• Beyond Retrofitting: Innovation in Higher Education – Hudson Institute
• College Credit: Repairing America’s Unhealthy Relationship with Student Debt – Manhattan Institute

Foreign Policy/International Affairs
• Beyond the Border: U.S. and Canada Expand Partnership in Trade and Security – The Heritage Foundation

Health Care
• The Right Way to Fight Obesity – Hoover Institution
• An Analysis of the Proposed Medicaid Expansion in Michigan – National Center for Policy Analysis
• Veterans Affairs Fails to Curb Suicide Epidemic – National Center for Policy Analysis

Immigration
• Advancing the Immigration Nation: Heritage’s Positive Path to Immigration and Border Security Reform – The Heritage Foundation
• Senate Immigration Bill Does Not Require Payment of All Back Taxes – The Heritage Foundation

Information Technology
• FCC Must Maintain Open Eligibility for Incentive Spectrum Auction – Free State Foundation

Monetary Policy/Financial Regulation
• Rethinking the FHA – American Enterprise Institute
• Recent Arguments against the Gold Standard – Cato Institute

National Security
• Obama’s Wish to Cut Nuclear Arsenal Undermines National Security – The Heritage Foundation
• Preventing the Next “Lone Wolf” Terrorist Attack Requires Stronger Federal–State–Local Capabilities – The Heritage Foundation

Natural Resources, Energy, Environment, & Science
• Efficiency Policy – American Action Forum
• Five Solutions for Addressing Environmental Overcriminalization – American Legislative Exchange Council
• Improving Incentives for Federal Land Managers: The Case for Recreation Fees – Cato Institute
• Denial of Supreme Court Review Leaves Ninth Circuit ESA Case Intact – Washington Legal Foundation
• Ohio Court Limits Localities’ Authority over Energy Exploration – Washington Legal Foundation

Transportation/Infrastructure
• Paint Is Cheaper Than Rails: Why Congress Should Abolish New Starts – Cato Institute
• Moving the Road Sector into the Market Economy – Institute of Economic Affairs

 

 

 

Notes on the Week

Rector on CBO on immigration: The Congressional Budget Office told us this week that letting large numbers of immigrants into the country and changing the status of those currently here illegally will be great for the economy and the federal budget. Robert Rector has a few things to say about the CBO’s scoring of the Gang of Eight immigration bill. Here are the highlights:

[T]he immigration coming in under this bill looks like previous immigration in the sense that its predominantly lower-skilled plus the fact that you’re taking 11 million illegal immigrants and giving them access to the welfare and entitlement states. They have an average education of 10th grade, so it’s very difficult to imagine that those households would somehow pay enough in taxes to equal their benefits […] .

The trick is the CBO 10-year budget window. […] For mysterious reasons, when an amnesty bill is written, the amnesty recipients become eligible for everything under the sun in about the 11th year. So that they pay taxes in the first 10 years and they don’t get additional benefits for some mysterious reason until you move outside the CBO budget window. […]

[T]he federal government, because of Social Security and Medicare, inherently transfers from the non-elderly to the elderly. State and local governments kind of do the opposite. If you just look at state and local governments you would find that they transfer from the elderly to the non-elderly to pay for education. The elderly pay a lot of property tax; they don’t get any education benefits any more. […] Of course immigrants are not elderly themselves. For a limited period of time they pay in but then they take out more than they have paid in. It’s important to put both flows together because the opposite process is happening down at the state and local level. […]

One of the interesting things that CBO does tell us is that the number of illegal immigrants who will enter the country over the next 20 years goes down by only 25 percent. There would have been, they estimate, 10 million illegal immigrants entering over the next 20 years. They estimate that that will drop to 7.5 million illegal immigrants entering the country […] . The net cost of those illegals alone would be about $400 billion over that period. […]

When you look at the Gang of Eight explain their bill they always say: Oh, we’re shifting from low-skill immigration to high-skill immigration. You can trust us. That’s what we do. But in fact the numbers from CBO show exactly the opposite. Roughly 80 … 85 to 90 percent of the individuals getting green card status are not skill-based. [The Foundry, June 21]

 

 

Turn on, tune in, pay up. Online learning may transform higher education someday, but right now it serves mainly as a prop in the familiar university system, say Andrew Kelly and Frederick Hess:

Many online programs generate large revenues because most colleges charge the same price (or more!) for students enrolled online as for those on campus. A survey of 199 universities by the educational technology arm of the Western Interstate Commission on Higher Education found that 93 percent of universities charged the same or higher tuition for their online programs. This is bizarre, given that online courses are less costly to deliver than in-person courses. But instead of competing on price (meaning that cost savings get passed to the student), institutions have maintained in-person prices for online courses—even as the cost of delivery has fallen.

What do colleges do with that extra revenue? They cross-subsidize activities on the brick and mortar campus: unfunded research, student life, institutional aid programs, and so on. Put more genteelly, they “reinvest” it in their traditional campus.

Real innovation, as Kelly and Hess point out, is about unbundling the research-based university, and that’s not going to happen until the government regulations, subsidies, and accreditation policies that protect that model from competition are reformed. [“Beyond Retrofitting: Innovation in Higher Education,” by Andrew P. Kelly and Frederick Hess, Hudson Institute, June 2013.]

 

 

Not even low-income workers can count on coming out ahead under ObamaCare. Some low-income workers could end up paying a lot more for health insurance than they paid before ObamaCare became law, reports Jillian Kay Melchior. ObamaCare requires employer-provided health insurance to cover at least 60 percent of health-care costs while not costing employees more than 9.5 percent of their household incomes. Since low-income households may have multiple sources of income, it can be difficult for companies to figure out if a particular plan is sufficient to avoid penalties. The federal government has proposed “safe harbor” standards in order to provide clarity: Companies offering plans that have a $3,500 deductible, a $6,000 cap on out-of-pocket costs, and premiums of $90 or less per month would put companies in the clear of any penalties. Under those standards, says Melchior, a low-income worker not eligible Medicaid has few good options:

He could take the employer’s plan — but if it’s a safe-harbor plan, it would cost, at minimum, $1,080 a year. And that’s before the deductible is even factored in. For someone who earns $28,725 a year, falling at 250 percent of the poverty level, these costs are sizeable.

Option two: He could shop around on the health exchange for an alternative. But because his employer provides a sanctioned plan, he’s disqualified from any subsidy he might have received to help offset costs. Even a very basic plan would cost up to $2,316 a year in premiums alone.

Option three: Forgo insurance altogether and pay the steadily increasing penalty to the federal government. In 2014, for an individual, that’s $95 for the year or 1 percent of household income, whichever is greater. But by 2016, it will rise to either $695 or 2.5 percent of household income. And that’s not even factoring in whether the worker has kids. In that case, he could face an annual penalty of $2,085 or more by 2016. […]

Before, many employers who paid by the hour offered limited medical plans. These policies often got a bad rap because of their lack of catastrophic coverage. But to their credit, they were inexpensive and contributed to health-care costs immediately, without workers needing to first meet a deductible.

Now, these low-wage hourly workers would be forced to spend at least $5,300 before their coverage really begins to benefit them. [National Review, June 17]

 

 

Who elected those guys? ask teachers in Kansas. Last week, teachers in Deerfield, Kansas, did something that almost never happens, report James Sherk and Michael Cirrotti: They voted to decertify their union:

Unlike most public officials, unions do not stand for re-election, so their members cannot regularly hold them accountable. Workers can remove an unwanted union only by filing for decertification. But bureaucratic obstacles make it difficult to hold a vote on decertification. The hoops Deerfield’s teachers had to jump through illustrate this problem.

Joel McClure, the teacher who led the effort, submitted the appropriate paperwork to the Kansas Department of Labor in November 2012. But Kansas teachers can request a vote only in a two-month window every three years. KNEA officials contested the petition by claiming that the teachers missed the December 1 deadline. (The Department of Labor had misplaced the initial petition paperwork.) Then the KNEA objected that the teachers’ attorney was not certified in Kansas and that they did not have enough signatures. However, the teachers prevailed and voted out their union—in June, just eight months after the initial submission.

When asked why they went through such protracted effort, the teachers said their union ignored their concerns. They wanted instead to be actively involved in negotiations and work collaboratively with the school district. “The desire is for teachers to participate at the [bargaining] table, to have free access to information,” McClure said. “In our little school district, there’s no reason we can’t sit down at the table and work out our issues.” [The Foundry, June 18]

Did we mention that next week is National Employee Freedom Week?

 

 

The death panel is coming. Last week, a federal judge in Philadelphia blocked the enforcement of an age-limit rule on lung transplants, thus allowing a very sick 10-year-old girl to obtain a new set of lungs. Doctors had said the girl, who suffers from cystic fibrosis, would live only three to five weeks without new lungs. Earlier, Secretary of Health and Human Services Kathleen Sebelius had said she would not to intervene in the case by overturning the rule.

When the ObamaCare-created Independent Payment Advisory Board is up and running in two years, it too will make decisions on matters of life and death, but unlike Sebelius’s decision on lung rules, the decisions of the IPAB cannot be reviewed by courts. Those decisions are also protected from politics in some extraordinary ways. As David Rivkin and Elizabeth Foley explain, the IPAB set-up is certainly unconstitutional, but likely not challengeable in the short run because no one would have standing to sue:

Once the board acts, its decisions can be overruled only by Congress, and only through unprecedented and constitutionally dubious legislative procedures—featuring restricted debate, short deadlines for actions by congressional committees and other steps of the process, and supermajoritarian voting requirements. The law allows Congress to kill the otherwise inextirpable board only by a three-fifths supermajority, and only by a vote that takes place in 2017 between Jan. 1 and Aug. 15. If the board fails to implement cuts, all of its powers are to be exercised by HHS Secretary Sebelius or her successor. […]

The power given by Congress to the Independent Payment Advisory Board is breathtaking. Congress has willingly abandoned its power to make tough spending decisions (how and where to cut) to an unaccountable board that neither the legislative branch nor the president can control. The law has also entrenched the board’s decisions to an unprecedented degree.

In Mistretta v. United States (1989), the Supreme Court emphasized that, in seeking assistance to fill in details not spelled out in the law, Congress must lay down an “intelligible principle” that “confine[s] the discretion of the authorities to whom Congress has delegated power.” The “intelligible principle” test ensures accountability by demanding that Congress take responsibility for fundamental policy decisions.

The IPAB is guided by no such intelligible principle. ObamaCare mandates that the board impose deep Medicare cuts, while simultaneously forbidding it to ration care. Reducing payments to doctors, hospitals and other health-care providers may cause them to limit or stop accepting Medicare patients, or even to close shop.

These actions will limit seniors’ access to care, causing them to wait longer or forego care—the essence of rationing. ObamaCare’s commands to the board are thus inherently contradictory and, consequently, unintelligible.

Moreover, authorizing the advisory board to make rules “relating to” Medicare gives the board virtually limitless power of the kind hitherto exercised by Congress. For instance, the board could decide to make cuts beyond the statutory target. It could mandate that providers expand benefits without additional payment. It could require that insurers or gynecologists make abortion services available to all their patients as a condition of doing business with Medicare, or that drug companies set aside a certain percentage of Medicare-related revenues to fund “prescription drug affordability.” There is no limit. [Wall Street Journal, June 19]

 

 

What is candy? Depends on which state wants to tax it online. Forcing online retailers to remit sales taxes to the state where the purchaser resides, as the federal Marketplace Fairness Act (MFA) does, is not going to level the playing field between online and bricks-and-mortar retailers. Rather, as James Gattuso explains, it will tilt the playing field heavily against online retailers—especially smaller ones:

While the legislation does require states to provide retailers with free software for managing tax compliance, that software need only cover the individual state. Retailers are left on their own to get nationwide software, unless they want to integrate 46 individual software packages. No compensation is offered for recurring costs incurred by retailers, such as accounting services or online tax management services.

In addition, internal staff time would be needed for an array of tasks, including handling claims by tax-exempt customers, fielding inquiries from tax authorities, and addressing the inevitable glitches.

Even the simple act of classifying the item being sold can be problematic, with thousands of idiosyncratic distinctions and definitions through each state’s tax code. In Wisconsin, the Wisconsin flag as well as the U.S. flag is not subject to tax. All other flags are taxable. Unless they are bundled with flagpoles, in which case the rules change yet again.

Similarly, candy is defined—under the “streamlined” sales tax agreement, as “a preparation of sugar, honey, or other natural or artificial sweeteners in combination with chocolate, fruits, nuts or other ingredients in the form of bars, drops, or pieces.” But sellers beware: “‘Candy’ shall not include any preparation containing flour and shall require no refrigeration.” Thus defined, states still vary on whether the concoction is taxable or not.

The problems do not end with the sale. Each of the 46 state tax authorities with which retailers would have to deal directly require tax returns to be completed, on an annual, quarterly, or even weekly basis. To ensure that it is all done correctly, sellers would be subject to audits from each of 46 states. (If tax authorities on Indian reservations are included—as they are in the MFA as passed by the Senate—the number of tax forms and potential audits jumps to the hundreds.) [The Heritage Foundation, June 19]

 

 

Carbon taxers forget the externalities of not using cheap, abundant energy. One reason putting a tax on carbon in order to price its negative externalities is not a free-market idea:

[E]ven if SCC [social cost of carbon] estimates were not assumption-driven hocus-pocus, their use by activists, policymakers, and agencies would still be biased and misleading, because proponents of “climate action” always ignore the social costs of carbon mitigation.

As Cato Institute scholar Indur Goklany explains in a recent study, fossil fuels are the chief energy source of a “cycle of progress” responsible for the amazing improvements of the past 250 years in life expectancy, health, nutrition, safety, comfort, human capital formation, and per capita income. The cycle of progress is to no small extent a “positive externality” of fossil fuels. Thus, policies that suppress the extraction, delivery, and consumption of fossil fuels, or that make fossil energy less affordable, have social costs in addition to whatever compliance burdens and economic losses the policies entail.

For example, the more stringent the carbon mitigation scheme, the more severe the impacts on household income and job creationNumerous studies find that poverty and unemployment increase the risk of sickness and death. Carbon tax advocates never acknowledge this side of the ledger.

Given the continuing importance of fossil fuels to human flourishing and the undeniable connection between livelihoods, living standards, and life expectancy, carbon taxes can easily do more harm than good to public health—even if one accepts the IPCC’s version of the science.

That’s from Marlo Lewis’s excellent summary of the recent R Street-Heartland Institute debate on the carbon tax. [GlobalWarming.org, June 16]

 

 

Progressives make use of rights that progressives think should not exist. It’s a good thing for progressives—and everybody else—that one particular progressive idea hasn’t been adopted, observes Wendy Kaminer:

If progressives had their way, the ACLU’s latest challenge to the NSA’s domestic surveillance would easily be dismissed.ACLU v Clapper, filed in the wake of the Snowden revelations, is based on the ACLU’s First and Fourth Amendment rights, which, according to progressives, ACLU should not possess. It is, after all, a corporation, and constitutional amendments aggressively promoted by progressives would limit constitutional rights to “natural persons.”

“The words people, person, or citizen as used in this Constitution do not include corporations, limited liability companies or other corporate entities,” the popular People’s Rights Amendment declares. [The Atlantic, June 17]

Arthur Koestler’s protagonist in Darkness at Noon referred to the first-person singular as a “grammatical fiction” because it conflicted with the logic of self sacrifice demanded by the party. Today’s real progressives are now trying to subvert the plural form. By insisting that only individuals, not corporations, have rights, they elide the fact that corporations are made up of individual people. Individuals can’t fully exercise their rights if the things they choose to do cooperatively with others do not have the same protections as the things they choose to do alone. Maybe the American Civil Liberties Union can spread the word.

 

 

To Do: Keep an Eye on Russia

• Find out what Russia is up to with its efforts to construct a Eurasian Union. The Heritage Foundation will host a half-day conference on June 27 in Washington, D.C.

• Reflect on the Battle of Gettysburg and its meaning for the nation, which happened 150 years ago this July. Allen Guelzo of Gettysburg College will make remarks at the American Enterprise Institute in Washington, D.C., at 4:30 p.m. on June 26.

• If you are a young, professional, conservative woman, come meet other young, professional, conservative women at the Network of enlightened Women’s National Conference. The conference will be held June 27 – June 28 at The Heritage Foundation in Washington, D.C. Christina Hoff Summers will deliver a keynote address.

• Request a free copy of the movie Amazing Grace, which tells the true story of William Wilberforce’s fight to abolish slavery. The offer is part of the Foundation for Economic Education’s Blinking Lights Project, which educates about the importance of personal character as a vital element of free society. Be sure to check that out, too.

• Don’t forget that next week is National Employee Freedom Week, “a national effort to inform union employees of the freedom they have regarding opting out of union membership and making the decision about union membership that’s best for them.”

• Save the dates! These events are no longer classified, are they?
—The annual IEA Hayek Memorial Lecture, delivered this year by Grover Norquist of Americans for Tax Reform, talking on “The Leave Us Alone Coalition vs. The Takings Coalition: The On-going Struggle” at 6:30 p.m. in London;
—The 42nd National Fourth of July Soiree, featuring barbeque, blue grass, balloon artists, and more at Bull Run Regional Park in Centreville, Va., on July 4 from 11 a.m. to 3 p.m.;
—The Heritage Foundation’s annual Scholars & Scribes review of the Supreme Court’s 2012-2013 term, July 11, in Washington, D.C.;
Freedom Fest, the largest gathering of free minds, July 10 – July 13 at Caesars Palace in Las Vegas;
—and Cato University, July 28 – August 3 at the Cato Institute in Washington, D.C.

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I thought I was pretty well up on what is happening in our country because I really try hard to keep up and do a lot of reading, but now way was I even close to knowing what is happening to everyday people just like me and you.  This article from the Heritage Foundation is an eye opener and a blood pressure raiser. Be sure and go to all the referred sites for all the information.  The time for We the People to act is now when we have the momentum with the Tea Party and other groups up and moving.  Time for you to get involved too before it has gone too far for the United States and Americans to turn the tide towards tyranny around and defeat those who would imprison us in a country no American wants to live in.  Sincerely, Brenda Bowers  BB

The Government vs. YOU

06/14/2013

Every day, more Americans get trapped by big government. In addition to groups targeted by the IRS, upstanding citizens going about their normal lives are suddenly targeted by law enforcement authorities and charged as criminals. Just a few examples:

 

 

 

USA-v-YOU

These are only a few of the shocking incidents The Heritage Foundation chronicles in our new project, USA vs. YOU. Experts at Heritage’s Edwin Meese III Center for Legal and Judicial Studies reveal the stories of 22 people from all backgrounds, races, and income levels victimized by carelessly written laws.

Get the FREE e-book USA vs. YOU now >>

When criminal laws are created to “solve” every problem, punish every mistake, and compel the “right” behaviors, this troubling trend is known as overcriminalization. Ultimately, it leads to injustice for honest, hard-working Americans at every level of society.

Public interest groups from across the political spectrum recognize how this flood of criminal laws violates our basic liberties. Diverse organizations including the American Civil Liberties Union, the National Association of Criminal Defense Attorneys, the American Center for Law and Justice, and Right on Crime, among others, have joined with Heritage to reaffirm the true purpose of America’s justice system: to ensure public safety and protect the innocent.

When was the last time you saw the ACLU work together with a faith-based group like Justice Fellowship? WithUSA vs. YOU, the problem is grave enough to bring together unlikely allies. And we’re delivering this bipartisan message just as the House of Representatives has launched a task force aimed at correcting this issue.

This morning, Heritage Senior Legal Fellow John Malcolm will testify at the first hearing of the Overcriminalization Task Force—shining a spotlight on the scope and severity of this threat to our liberties. Ending the practice of trapping our citizens with unnecessary laws will be no easy task, with an estimated 4,500 criminal law offenses and 300,000 criminal regulations on the books.

Experience the stories of Americans like you treated unjustly – download the FREE e-book now >>

Over the next six months, Members of Congress from both parties will study this issue in depth, hold hearings, and—with the right encouragement—take steps to enact real reform.

This new effort includes tools for you to raise your voice and make a difference in defending our liberties. So explore the documented stories in USA vs. YOU, follow the links, and take real action today to help turn the tide.

Read the Morning Bell and more en español every day at Heritage Libertad.

Quick Hits:

  • President Obama has changed his policy on Syria, saying that Bashar al-Assad used chemical weapons and that the U.S. will provide military support to the rebels.

 

 

 

  • Investigative journalist James O’Keefe has produced some shocking stories of corruption. In a new book, hedetails his undercover work with Project Veritas.

 

  • For decades, inappropriate IRS behaviors have been revealed. Each time, the agency has assured the public that it takes these breaches “very seriously.”

 

The budgets  from the Republican House (Ryan budget),  the Democrats in the Senate and Obama won’t pass so the country will again for the fourth year continue to operate on “continuing resolutions”.  The law of the country requires that Congress pass a budget but for 4 years the Senate has refused to even offer up a budget let alone pass the one offered by either the President (NOT ONE VOTE FOR ANT OBAMA BUDGET EVEN FROM A DEMOCRAT!) or the budget offered by and passed by the Republicans in the House.

Sooooo, here we have the Senate Democrats  “continuing resolution” and if all the tears hadn’t been rung out of me in November when We the People re-elected Obama to the Presidency then I would probably find myself crying again. Surely not all of these people are evil and certainly they are not all stupid, so what in the world is happening in the Democrat Senators minds?!?

The following article from The Heritage Foundation explains  very well some of the more egregious  proposed spending.  I hope when you read this you get on the hone to your Congressman or woman be he/she Democrat or Republican and demand some sanity in Washington.  BB

Heritage Experts’ Reaction to Senate Continuing Resolution

Todd Thurman

March 12, 2013 at 5:40 pm

Newscom

The massive spending bill, or continuing resolution, released by the Senate this week continues spending on programs which are inappropriate or wasteful and fails to adopt good policies in many areas. Here’s a rundown of some of the worst offenders in the Senate bill:

Obamacare. The CR fails to stop the massive spending in Obamacare. Obamacare obligates an estimated $1.2 trillion for subsidies to individuals for purchasing coverage through the government exchanges and $638 billion for states agreeing to expand their Medicaid programs. Congress should eliminate the exchange subsidies and the enhanced federal match for the Medicaid expansion. Stopping these provisions would save the federal government more than $1.8 trillion over the next 10 years. Nor does it take steps to defund implementation of Obamacare.

 (Already the regulations governing how Obamacare is implemented is 7 feet tall and only about 1/40 of the bill is covered by these regulations.  Just the application to qualify for Obamacare is 15 pages long!  BB)

—Nina Owcharenko, Director, Center for Health Policy Studies and Preston A. Wells, Jr. Fellow

Inadequate Defense Funding Levels. The detailed defense appropriations provisions in the House-adopted appropriations bill (H.R. 933), and now its Senate companion legislation, provide inadequate overall funding levels for defense, in part because they will continue to apply the reduction in defense spending for the current fiscal year required by sequestration. Nevertheless, the defense provisions continue wasteful spending practices. These defense appropriations provisions were agreed to by House and Senate appropriators earlier, and therefore the wasteful practices were also preserved in the Senate version of the same legislation.

The Heritage Foundation has identified at least $70 billion in annual savings within the Department of Defense through a combination of military health care and retirement reform, hiring freezes, expanding performance-based logistics, and reforming the acquisition process.

Clearly, this is money that could be kept within the defense budget and put into more militarily useful programs, such as improving space technology for use in missile defense or developing new classes of nuclear weapons delivery systems. The more productive approach to funding an effective military posture for the U.S. would be for Congress to return to the regular budgetary order, set aside sequestration, adopt higher defense appropriations that are applied in a more disciplined fashion and look to restrain federal spending growth in the areas of foreign aid, domestic discretionary programs, and entitlements.

(The world has never been so dangerous as it is today.  Iran is on the verge of getting nuclear weapons and working very aggressively on their missile delivery program.  North Korea already has nuclear weapons and now may very well have a missile able to hit the West Coast.  So what does the President and the Democrats want to do?  cut our defense programs!  BB)

—Baker Spring, F.M. Kirby Research Fellow in National Security Policy

Head Start. Increasing Head Start funding is the antithesis of good early childhood education policy. The Senate CR provides $33.5 million in new funding for one of the most ineffective federal education programs in existence today: Head Start. While the new funding is earmarked for the Obama Administration’s plan to make the worst-performing Head Start centers re-compete for funds, it represents new spending on a program the federal government has deemed totally ineffective at meeting the needs of poor children.

In December, the Department of Health and Human Services (HHS) released itslong-overdue evaluation of Head Start. The agency’s scientifically rigorous evaluation of more than 5,000 Head Start children from the time they entered the program through third grade revealed that the $8 billion per year federal program had little to no impact on cognitive, social-emotional, health, or parenting practices of participants. On a few measures, access to Head Start had negative effects on children.

In addition to the evidence presented by HHS of Head Start’s ineffectiveness, in 2010 the Government Accountability Office (GAO) reported widespread fraud at Head Start centers. GAO sent undercover investigators into Head Start centers in various states, and in half they found fraudulent activity, such as Head Start employees counseling families to underreport their income in order to appear eligible for services.

Since 1965, taxpayers have expended some $180 billion on Head Start yet have not received a return on that “investment.” And now, in the wake of an objective report by HHS demonstrating that Head Start is failing the poor children it was designed to serve, the Senate CR would increase spending and eschew any suggestion of eliminating or reforming the Great Society relic.

Head Start should be eliminated. At a minimum, it should be reformed to allow states to make their Head Start dollars portable, following low-income children to a private preschool provider of choice, instead of relegating them to underperforming Head Start centers.

—Lindsey Burke, Will Skillman Fellow in Education

Energy. The Senate CR continues to fund a failed energy policy that empowers Washington bureaucrats instead of American families and businesses. Though it does cut some programs minimally, it does the equivalent of removing a used napkin from a full trash can. There’s much more waste that needs to be removed. For example, section 1203 reduces Department of Energy (DOE) funding by $44 million when more than $5.3 billion could be cut. The $44 million is equivalent to 0.8 percent of what should be cut.

Perhaps most egregious is the meager $11 million cut from the $1.8 billion request for Office of Energy Efficiency and Renewable Energy. In total, the DOE budget funds applied-research programs on conventional fuels, renewable energy sources, and nuclear energy that the private sector should be undertaking. American families and business are far better equipped than government to determine what types of energy technologies work for them. Eliminating these programs alone would save $3 billion in taxpayer money and help to return energy choice back to Americans.

Though the bill cuts $10 million from nuclear energy spending, based on the 2013 request, it would still fund over $150 million for nuclear waste disposal and management programs. None of this funding would go toward Yucca Mountain, the waste repository mandated by the Nuclear Waste Policy Act, as amended. Given the complete lack of any nuclear waste disposal or management policy by the Administration and its insistence on terminating the Yucca project, there is little justification for this spending. Instead, Congress should provide $40 million for the Nuclear Regulatory Commission to finish its review of the DOE’s Yucca Mountain permit application.

(The United States sits on the largest pool of   CLEAN natural gas in the world and we have the means to get to this energy source but it does not fall into the category of solar, wind or water.  natural gas is a fossil fuel!  BAD!!!  The United States also has the largest pool of oil available within our borders.  Obama likes to say that we are pumping more oil today than at any time in our history.  this is true but it is BEING PUMPED OFF OF PRIVATE PROPERTY AND NOT FROM GOVERNMENT OWNED LANDS.  AND THE GOVERNMENT IS BUYING UP PROPERTY LIKE NEVER BEFORE TO PUT MORE LAND UNDER IT’S CONTROL!   bb)

—Jack Spencer, Senior Research Fellow, Nuclear Energy, and Nick Loris, Herbert and Joyce Morgan Fellow

Consumer Product Safety Commission (CPSC). Unlike the budget passed by the House, the Senate bill seeks to restore government spending to fund the failed CPSC product safety database. CPSC decision making with respect to the database has previously been called “arbitrary and capricious” by the courts.

Since it was implemented in 2011, manufacturers have shown that the CPSC database is seriously flawed. The database allows the public to submit unproven claims of harm with the CPSC and gives manufacturers only 10 days to challenge these claims; however, the CPSC itself has final authority to publish reports of such claims, even if they are disproved by the manufacturer. The accuracy of the CPSC reports is thus seriously questionable, and is a one-stop shop for tort lawyers seeking new clients or seeking “evidence” for their current lawsuits.

Furthermore, last October, in Company Doe v. Inez Tenenbaum, a federal court in Maryland overturned a decision of the CPSC to publish a report as “arbitrary and capricious,” because the CPSC report was “misleading and fail[ed] to relate[] to the [manufacturer’s] product in any way.” Indeed, the CPSC database is a concrete example of government waste: It is a shame that the Senate bill seeks to restore government spending to publishing misleading claims that damage business growth and likely lead to additional frivolous lawsuits.

 

(What this means for you and me is that companies will refuse to put new products on the market that may save a life!  BB)

—Andrew Kloster, Legal Fellow

Supplemental Nutrition Assistance Program (SNAP): $77.2 billion. The recommendation continues record-high food stamp benefits. Food stamp spending has approximately doubled since President Obama came to office. It is one of the largest and fastest growing federal welfare programs. The federal government operates 80 federal welfare programs at a cost of nearly $1 trillion a year. Over 10 of these provide food assistance.

Food stamp spending should be rolled back to pre-recession levels. Able-bodied adults without dependents who receive food stamp benefits should be required to work or prepare for work as a condition of receiving benefits.

—Rachel Sheffield, Research Associate

Job Corps: $30 million added to the funding level already provided under sequestration. This program should be terminated, because a scientifically rigorous impact evaluation of Job Corps participants were less likely to obtain high school degrees, were no more likely to attend or complete college, and earned only $0.22 more in hourly wages than non-participants. Further, the Department of Labor Office of Inspector General estimates each Job Corps participant who is successfully placed into any job costs taxpayers $76,574.  (Why don’t we just give every one who applies for one of these job training programs $20,000.  and send them home to sit on their asses for another 6 months?  This would be a whole lot cheaper in the long run!  BB)

Violence Against Women Act (VAWA) grants: $416.5 million. VAWA grantsshould be terminated, because these services should be funded locally. Using federal agencies to fund the routine operations of domestic violence programs that state and local governments could provide is a misuse of federal resources and a distraction from concerns that are truly the province of the federal government.

(This one just makes me cringe and cry and be sick!  BB)

Office of Justice Programs (OJP) grants: $1.1 billion. OJP grants should be terminated, because these grants assign functions to the federal government that fall within the expertise, jurisdiction, and constitutional responsibilities of state and local governments. Further, the Edward Byrne Memorial Justice Assistance Grants ($392 million) within OJP have been used to place criminals on the street without posting bail.

Office of Juvenile Justice and Delinquency Prevention (OJJDP): $279.5 million. OJJDP grants should be terminated, because these grants fund juvenile justice and prevention programs that fall under the unique responsibilities of state and local governments. Further, there is little evidence that these grants are effective at preventing delinquency.

Community Oriented Policing Services (COPS): $225.5 million. COPS grantsshould be terminated, because these grants assign functions to the federal government that fall within the expertise, jurisdiction, and constitutional responsibilities of state and local governments. Further COPS grants were used tosupplant local funds and had little to no effect on reducing crime.

FEMA Fire Grants: $675 million. Fire grants should be terminated. Fire grants, which subsidize the routine operations of local fire departments, are ineffective at reducing fire-related deaths and injuries of firefighters and civilians. Fire grants incorrectly encourage local fire departments to become increasingly dependent on federal funding.

David B. Muhlhausen, Ph.D., Research Fellow in Empirical Policy Analysis

Postal Service Saturday delivery: $2 billion. The Senate CR continues—by omission—the prior year’s ban on using the Postal Service’s small appropriation to reduce service levels, effectively mandating Saturday service. This, along with other such congressional restriction, limits the Postal Service’s ability to reduce costs and increases the risk of massive federal subsidies in the near future.  (Yes, the Post Master CAN NOT  make decisions that would make the Post Office more efficient because of Congress!  BB)

—James Gattuso, Senior Research Fellow in Regulatory Policy

NASA Manned Spacecraft: $1.2 billion. The Orion Multi-Purpose Crew Vehicle is the new manned spacecraft NASA is developing for exploration of the Moon and Mars and for other purposes. Manned space flight is vastly more expensive than robotic exploration and is largely a public relations showcase for NASA to market itself to the American people. NASA’s budget should be pared back to a tight focus on cost-effective projects to advance its core missions.

(This is one I disagree with.  The United States and Americans have  benefited much from inventions made and perfected by the space program.  I won’t go into the many, many inventions because you can google them for yourself.  The space program should not be cut.   And, another reason is the brain drain because these NASA scientists needing jobs will go to Russia, china and other countries; do we really want this?   BB )

—J. D. Foster, Norman B. Ture Senior Fellow in the Economics of Fiscal Policy

National Science Foundation (NSF): $221 million. The bill would increase funding for NSF by $221 million, compared to the fiscal year (FY) 2012 enacted level, putting the total funding amount to $7.25 billion. Yet NSF has spent large amounts on research projects that are clearly not federal priorities ($325,000 for a “Robosquirrel” study; $516,000 creating a video game simulating prom week; and $350,000 for a study on how golfers should imagine a bigger hole when playing). Basic research is important, but given that NSF funding is diverted to inappropriate projects, it becomes wasteful. Budget reductions may help encourage more prudence.

National Institutes of Health (NIH): $71 million. Some of NIH’s funding goes to projects that seem inappropriate, such as $550,000 to acquire evidence that heavy drinking in a person’s 30s can lead to feelings of immaturity, while in their 20s it would not.

Legal Services Corporation (LSC): $358 million. This program should be terminated, because these services should be funded locally. The money is oftendiverted instead of going to poor people needing legal services, and there is a long history of waste and abuse of these funds by executives at the LSC.

Transportation. The bill would increase funding for highway programs and transit formula grants to match the levels authorized in Moving Ahead for Progress in the 21st Century (MAP-21), current surface transportation law. It also funds a $4 million Transit Safety office that was authorized in MAP-21. By funding this new office and the transit formula grants, the bill would continue diversions of limited Highway Trust Fund (HTF) user fees to transit, which is a demonstrated local—not a federal—priority.

Transit serves truly local needs and is predominantly concentrated in just six cities.Congress should end such diversions from the HTF, because they come at the expense of highway and bridge maintenance and expansion projects and do not demonstrably improve mobility and safety.

—Emily Goff,  Research Associate

Housing and Urban Development Public Operating Fund: $562 million. The bill restores money from an FY 2012 cut to previous levels for a total 2013 funding request of $3.962 billion. The fund pays local public housing authorities annual subsidies for such things as maintenance, management, insurance and energy costs. These should be the responsibility of local jurisdictions.

—David C. John, Senior Research Fellow

This report from the Republican Study committee on what the conservative Republicans in the House of Representatives are doing and legislation they are putting forward to try to block Obama ‘s agenda and save our country. Much important information so do go to the referred sites for additional information.  We all need to be aware of what is happening and these Congressmen are trying to get the information out there and pass legislation that will save us.  Much of what they do however will go nowhere, but we still need to be aware.  Their budgets proposals and much of their proposed legislation has passed the full House during the last 4 years but are left sitting on the shelf in Democrat Harry Reid’s Senate!    You may want to subscribe to get their reports also so I have given you all the information in this post.  BB

Tuesday, February 5, 2013 | View Online

 

RSC Update: Require a PLAN

 

From the Chairman

    American families are still struggling due to President Obama’s failed economic policies.  The President believes that Washington can tax, borrow and spend its way to a better future, yet House conservatives know that just like American families and businesses who have had to tighten their budgets, Washington must also start living within its means.  The first step in creating a responsible budget is to present a budget.  Republicans in the House have passed a budget for the past two years, and will proudly do so again this year.  The Senate has yet to submit a budget for the past four years and the President has submitted his budget late four out of the past five years, which is irresponsible. 

     Fiscal sanity will never be restored in Washington until the Democrats learn to properly budget, just like American families and businesses.  That is why the House, spearheaded by the RSC, is forcing the Democrats in the Senate to present and vote on a budget and is voting on former RSC Chairman Price’s bill, the “Require a PLAN Act.”  Rep. Price’s bill will compel the President to submit an estimate of the earliest fiscal year that his budget will balance, if ever.  American families have a right to know how their hard-earned tax dollars are being spent, and the RSC along with House Republicans are working to put an end to the President and the Democrats’ reckless tax, regulate, and spend agenda. 

Congressman Steve Scalise

Chairman, Republican Study Committee

 

RSC Media Activity– RSC members work hard to ensure that the conservative viewpoint is well-represented in all corners of the media. Visit our Media Center for more.

 

RSC Member ActivityRSC members make it a priority to introduce productive, conservative solutions for America’s future. 

  • Rep. Virginia Foxx (NC-05) is building support for the Preserve Land Freedom for Americans Act, which amends the Antiquities Act to require state approval for presidential designations of national monuments. Monument designations should be subject to state approval in order to ensure that states – not only the administration – have a say in what is best for their residents.
  • Rep. Trent Franks (AZ-08) is building support for a Ronald Reagan Resolution.  Mr. Franks is seeking original cosponsors for a resolution celebrating the life of Ronald Reagan on the anniversary of his birth.
  • Rep. Paul Gosar (AZ-04) is seeking support for his Resolution Expressing No Confidence in AG Holder and Calling for His Resignation.  As Congress investigated Operation Fast and Furious in the 112th Congress, Attorney General Holder appeared before various House and Senate committee hearings to testify on the matter.  In these testimonies, Mr. Holder evaded, obstructed, and misled the investigation. Attorney General Holder has clearly lost the confidence of Congress and the American people.
  • Rep. Tim Griffin (AR-02) seeks support for his letter to President and State Department on shipment of F-16s to Egypt.  Rep. Griffin is urging members to sign on to a letter to the President and Secretary Kerry requesting a delay in the U.S. government’s shipment of F-16s to the Egyptian military.
  • Rep. Duncan Hunter (CA-50) is building support for H.R. 342 “the Guarantee Paychecks for America’s Military Families Act,” to ensure that our troops are paid in the event the debt ceiling is reached.
  • Rep. Duncan Hunter (CA-50)is building support to Report Real Unemployment Numbers.  Rep. Hunter will soon reintroduce the Real Unemployment Calculation Act would ensure that the official national unemployment rate presents an accurate account of the true unemployment situation. 
  • Rep. Mike Kelly (PA-03) is building support fora Concurrent Resolution Opposing the UN Arms Trade Treaty.   On Christmas Eve 2012, the UN voted to hold a final round of negotiations on the Arms Trade Treaty (ATT) in March 2013. The ATT raises a number of serious concerns, including threats to our Second Amendment rights, our domestic defense manufacturing base, and our ability to defend our allies such as the Republic of China (Taiwan) and the State of Israel.
  • Rep. Mike Kelly (PA-03) is seeking support for “The Advice and Consent Restoration Act,” which prevents individuals unconstitutionally appointed to the NLRB from collecting their $155,500 salaries and ensures that as long as unconstitutionally appointed individuals remain in their positions, the NLRB is prohibited from performing its authorized functions.
  • Rep. Blaine Luetkemeyer (MO-03) is building support for legislation to defund UN climate change initiatives.  With President Obama reigniting the climate change debate, Rep. Luetkemeyer is reintroducing his legislation with an added prohibition on federal contributions to the United Nations Framework Convention on Climate Change (UNFCCC), which works to implement IPCC initiatives.  Together, U.S. contributions to IPCC and UNFCC have nearly double under the Obama administration.
  • Rep. Jeff Miller (FL-01) is building support for H.R. 324, to grant the Congressional Gold Medal, collectively, to the First Special Service Force.The First Special Service Force (FSSF) was a covert World War II military unit born through the efforts of President Franklin Roosevelt and Prime Minister Winston Churchill. The FSSF conducted ultra-high risk military missions in the Aleutian Islands, Italy, and southern France.  Once sent into action, the FSSF never failed a combat mission. 
  • Rep. Scott Perry (PA-04) seeks support for his Balanced Budget Amendment that would force the President to pass a budget that justifies each department and agency’s funding levels.
  • Rep. Marlin Stutzman (IN-03) is building support for the FFOCUS Act– Focusing the Fed on the Currency of the United States Act of 2013. This bill simply eliminates the unemployment aspect of the Fed’s dual mandate in order to focus Chairman Bernanke on price stability.

 

Outlook – A quick look at what’s on the horizon. 

  • The House Conservative member retreat is Wednesday to Friday this week in Baltimore.
  • The House will be voting on RSC member Rep. Tom Price’s (GA-06) “Require a PLAN act,” H.R. 444 on Wednesday. 

 

RSC Reports

  • RSC Updates are now online! Looking for one of our recently released charts and graphs? Click here.
  • Stay up to date on budget and spending news with reports from the RSC Budget and Spending Task Force.
  • Keep up with national security by reading the National Security Working Group’s newest report.
  • Check out the Repeal Task Force’s work to eliminate bad laws and regulations.

 

###

OFFICE LOCATIONS:
House Republican Study Committee
2338 Rayburn House Office Bldg
Washington, DC 20515
Phone: (202) 226-9717
Fax: (202) 226-1633

I loved the debate last night!  Romney was really out there and every bit the President we need.  He was respectful of the President but did not tolerate inaccuracies and came right back with the truth.  Obama reminded me of nothing more than a little boy who was being scolded by his Daddy.  He looked down and wouldn’t look Romney in the eye because he couldn’t; he couldn’t refute the truth of the facts Mitt Romney was putting forth to counter the lies Obama was telling and the  dismal facts of Obama’s administration’s mistakes and blunders and bad policies.  Then Obama allowed his nasty ego to show  when he let us see how upset and affronted he was to have anyone dare to question and confront him.    If there had been just five more  minutes left Obama would have exploded in a nasty temper tantrum.  I expect to see this tantrum in the next debate! because this  egomaniac  holds a grudge and will just have to come back, and in public.  We will see the real Obama next time..    In the meantime Heritage has some great articles on  debate questions and facts and follow up that I hope you will read.   I am printing just one article here but do go to their site and read several of their articles.  In fact, if you do not subscribe to the Heritage Foundation you really should.   BB

10 Questions for the First Presidential Debate

Tonight’s debate between President Barack Obama and former Governor Mitt Romney is supposed to focus on domestic policy, with a major concentration on the economy. Health care, the role of government, and philosophy of governing are also on the agenda. The Heritage Foundation’s policy experts have submitted 10 questions they would like to see asked in the debate.

1. In 2008, then-candidate Obama said, “Under my plan, no family making less than $250,000 a year will see any form of tax increase.” In reality, President Obama’s signature health care law contains 18 new or increased taxes and penalties that will cost taxpayers $836.3 billion over the next 10 years, many of which fall heavily on the middle class. In fact, almost 70 percent of those responsible for paying the fiercely debated individual mandate are below 400 percent of the federal poverty level.Should these tax increases be stopped to protect middle-class Americans from their damage? If yes, where would the money needed to help pay for Obamacare come from?

2. Millions of baby boomers are starting to retire, and spending on Social Security and Medicare as these programs are currently structured is simply unsustainableWhat is your plan to solve the looming entitlement program spending crisis?

3. Medicare as we know it today is facing severe financing problems that are unsustainable and putting future generations’ Medicare benefits in jeopardy. Over the long term, Medicare has made $37 trillion worth of promises to seniors that it cannot keep and the hospital insurance trust fund will be empty by 2024. Worse, the President’s health care law will cut Medicare by $716 billion over the next 10 years to pay for new spending in Obamacare. As Medicare’s solvency hangs in the balance, what structural reforms, if any, are you willing to make to preserve Medicare for future generations?

4. Everyone talks about shoring up our battered American DreamHow would you define the American Dream and what do you think are the most serious threats to it?

5. The Health and Human Services Department recently rewrote the law governing welfare to weaken its work requirements. Meanwhile, the number of people relying on food stamps has doubled under the current Administration. Should all able-bodied recipients be required to work or prepare for work as a condition of receiving aid in public housing, food stamps, and cash assistance?

6. The federal government is currently spending much more than it has, and annual budget deficits over $1 trillion have become the norm.What is your plan to stem the tide of deficits and rising debt?

7. One of the few bright spots in America’s economy has been energy production, particularly on state and private lands.  According to the Energy Information Administration (EIA), energy production decreased 13 percent on federal lands in fiscal year (FY) 2011 when compared to FY 2010. What would you do to reverse course on energy production on federal lands?

8. Congress—most notably the Senate, which hasn’t produced a budget in over three years—is sorely lacking in its basic responsibility of budgeting.What would you do to ensure the fundamental process of budgeting is restored?

9. President Obama has previously stated that, in the most important 5 percent of cases before the courts, it matters more what is in a judge’s heart (what has come to be known as his empathy standard) than what the rule of law requires. Is this the correct standard by which to evaluate judicial nominees? If not, what standard would you apply?

10. Former Attorney General of Mexico Victor Humberto Benítez Treviño estimated that approximately 300 Mexican citizens have been killed using Fast and Furious weapons in addition to U.S. Border Patrol Agent Brian Terry. Should Eric Holder resign as Attorney General because of his failures related to Operation Fast and Furious, including his failure to properly supervise the operation? If not, why not?

Watch the debate with Heritage tonight—you can watch it live, streaming on our Debate 2012 page. On the page, you can also follow our experts’ live blog and chime in on Twitter.

News from “The Hill” that you might have missed and will find interesting.  Obama promises to veto any spending bills that cut into his Obamacare or his Jobs Bill.  I don’t buy this bluff and I hope that Congress won’t either.

 

Veni, vidi veto: The Obama administration on Thursday told House and Senate appropriators that the president will veto any 2012 spending bills that contain provisions blocking top administration priorities like healthcare and financial reforms, The Hill’s Erik Wasson reports.

Revamping its semi-dormant mantra of “winning the future,” the White House also threatened a veto if the final version of spending bills cuts funding too much or fails to fund investments in education, innovation or infrastructure.

Perhaps not surprising: Republicans have latched on to a federal audit, released Thursday, that found that more than $3 billion worth of education credits could have been wrongly handed out by the IRS, our Bernie Becker reports.

“Enough is enough — it’s time for the IRS to start taking proactive measures to stop erroneous payments on the front end,” Rep. Charles Boustany Jr. (R-La.), the chairman of the House Ways and Means Oversight subcommittee, said in a statement.

Movement on the legislation to sell off excess federal property.  I hope this includes getting out of the western states which are largely owned by the government.  There is a lot of natural resources under those federally owned hills that the feds have been giving to private mining companies for mere pennies.  If the property reverts to the states I don’t see this happening.  governments closer to the people work more in sync with the wants and needs of the people.

More moves on bringing  private companies and all their money back from overseas by giving a “holiday” on the far too excessive corporate taxes the United States charges it’s companies.  The companies take their work and money overseas to avoid what are the highest corporation taxes in the world.  The calls to tax the rich and tax the corporations so they rich and corporations do what you and I can not doe: they just leave the country!  How dumb can Americans be??!

More noise about going after the Federal Reserve and Ben Bernanke.  The Federal Reserve should never have been formed in the first place and given so much power over our money and therefore our whole economy and lives.  BB

 


WHAT YOU MIGHT HAVE MISSED

Sen. Sanders gathers economists for his planned Fed overhaul bill

— Bernanke says no more stimulus

Senate housing bill would sell excess properties to foreign investors

— Good-government groups weigh in on repatriation

— Hensarling can see supercommittee overhauling tax code

— IRS makes 2012 inflation, cost-of-living adjustments

— Plan to shed excess federal properties marches onward

— House Dems to SEC: Make companies come clean on political spending

Higginbottom confirmed as deputy OMB head

— Chamber of Commerce spends $45.8M on lobbying

Existing home sales fell last month, still above 2010 levels

— Initial jobless claims fall slightly

It’s Time For A New Kind Of Bank Of America Solution—The Right Kind.

Read this article carefully because it outlines exactly what we should have done with the banks in 2008 instead of the massive bail out.  Now the ones in power are planning another bail out for another failing bank.  Failing due to massive incompetence!  BB


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