Monday, July 5, 2010
Sunday, July 4, 2010
More abuses of the system
Hey, it's only a few thousand dollars of welfare money that was withdrawn at California strip clubs, so no big deal, right? Well then you have nearly $2 million that was withdrawn at casinos over 8 months, so clearly this is a major problem (and this is just one state!). They really should do a long term study of where most money is withdrawn from across the country. I would bet these are not some isolated events. People caught doing this sort of thing should be banned for life from welfare, and forced to return all benefits received, with interest. I think prison time for fraud would be acceptable as well. But that would never happen in this country, unfortunately, because freebies are cherished.
As a bonus, here is an article that describes how Feds wasted millions in utilities programs for the "poor" by paying the utility bills of people who were dead, in prison or living in million-dollar mansions. There's really just too many ways for people to work the system at honest tax payer's expense.
This is just another reason why government spending has to be curtailed! It is the only way to stop the flow of waste.
As a bonus, here is an article that describes how Feds wasted millions in utilities programs for the "poor" by paying the utility bills of people who were dead, in prison or living in million-dollar mansions. There's really just too many ways for people to work the system at honest tax payer's expense.
This is just another reason why government spending has to be curtailed! It is the only way to stop the flow of waste.
BP Oil Spill
Why isn't the US doing all it can do to avert the oil spill? An interesting article by an economics professor at Emory appeared at the Wall Street Journal that raises some interesting issues titled, Why Is the Gulf Cleanup So Slow?
The A Whale has arrived and is awaiting approval while doing some test runs. Really, like what is there to approve?
And where have all the environmental groups been picketing and raising a ruckus? There hasn't been a lot of coverage in the media about these groups. Is this an attempt to prevent Obama's popularity from declining further?
The A Whale has arrived and is awaiting approval while doing some test runs. Really, like what is there to approve?
And where have all the environmental groups been picketing and raising a ruckus? There hasn't been a lot of coverage in the media about these groups. Is this an attempt to prevent Obama's popularity from declining further?
Saturday, July 3, 2010
Thursday, July 1, 2010
Response to Valliere
In the article, Valliere: A GOP Conspiracy to Weaken the Economy?, I posted the comment:
Valliere makes a biased and sophomoric argument against Republicans in this article. Extending handouts does not strengthen an economy. In fact, it will accomplish the exact opposite opposite because public money is going out the door and nothing new is being created. These are not public works programs, which would actually help the economy.
The problem with handouts is that incentives become misaligned. On one hand you make the choice to receive free money for doing nothing, compared to getting up at 6am every morning to go to work. The choice is easy for most people.
Republicans are actually doing a great thing for this country by aligning people's incentives with the costs and benefits. I bet these long term unemployed will start finding jobs once their freebies are curtailed.
I personally know people who have been receiving unemployment benefits for years solely because they would rather sit around collecting free money instead of going to work each day. I would bet there is a fair share of those in the current unemployed category.
You are going to compare medical decisions of doctors from 250 years ago who had but a 100th of the knowledge we have now to Republicans making a choice about the economy? A juvenile comparison.
"I would argue loud and long that deep spending cuts — including entitlement reforms — should occur once the economy stabilizes"
The problem is, these cuts never happen. But more to the point, the major fact right now is that voting against additional handouts is not a 'long and deep spending cut' where money was already being spent. The difference is that new freebies are just not being created.
Yes, extra spending could help out our economy, but only on projects that directly add to the GDP. And unfortunately politicians of the past blew it, because now we are all tapped out. Instead of being responsible in the past and saving a rainy day fund, politicians have always had the tenacity to spend, spend, spend regardless of what the state of the economy is in. After the recession is over, politicians are going to suddenly become responsible? Yeah right.
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Reading other comments brought some additional points. One being that Republicans are the minority in congress and they're still being blamed.
Valliere makes a biased and sophomoric argument against Republicans in this article. Extending handouts does not strengthen an economy. In fact, it will accomplish the exact opposite opposite because public money is going out the door and nothing new is being created. These are not public works programs, which would actually help the economy.
The problem with handouts is that incentives become misaligned. On one hand you make the choice to receive free money for doing nothing, compared to getting up at 6am every morning to go to work. The choice is easy for most people.
Republicans are actually doing a great thing for this country by aligning people's incentives with the costs and benefits. I bet these long term unemployed will start finding jobs once their freebies are curtailed.
I personally know people who have been receiving unemployment benefits for years solely because they would rather sit around collecting free money instead of going to work each day. I would bet there is a fair share of those in the current unemployed category.
You are going to compare medical decisions of doctors from 250 years ago who had but a 100th of the knowledge we have now to Republicans making a choice about the economy? A juvenile comparison.
"I would argue loud and long that deep spending cuts — including entitlement reforms — should occur once the economy stabilizes"
The problem is, these cuts never happen. But more to the point, the major fact right now is that voting against additional handouts is not a 'long and deep spending cut' where money was already being spent. The difference is that new freebies are just not being created.
Yes, extra spending could help out our economy, but only on projects that directly add to the GDP. And unfortunately politicians of the past blew it, because now we are all tapped out. Instead of being responsible in the past and saving a rainy day fund, politicians have always had the tenacity to spend, spend, spend regardless of what the state of the economy is in. After the recession is over, politicians are going to suddenly become responsible? Yeah right.
-------------------------------------
Reading other comments brought some additional points. One being that Republicans are the minority in congress and they're still being blamed.
Tuesday, June 29, 2010
Thursday, June 24, 2010
Plunge in Homesales
As I said in a previous post recently, all tax credits do is move people's decisions around, at a cost to the taxpayer. There is new data out that homesales plunged to a 'record low' after the home buying tax credit expired. Well, gee whiz, who could have seen that one coming? Once again, this is yet another reason why politicians should be required to have some economics training (and stop selling out Americans to lobbyists!!).
Monday, June 21, 2010
Sunday, June 20, 2010
More Taxpayer Fleecing
It's government waste like the bailing out of government sponsored (now owned) entities Fannie Mae and Freddie Mac where if we didn't have to deal with them, we would all pay much lower taxes. The CBO, who always seems to underestimate costs, predicts the final tab will be nearly half a trillion dollars.
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