Posts Tagged ‘deficits’

What Rough Porkulus Shambles Out of Washington?

Wednesday, December 23rd, 2020

People asked why Nancy Pelosi delayed passing a Wuhan coronavirus relief bill until now. One obvious reason was to avoid helping President Donald Trump’s reelection chances. Now that both houses of congress have passed this 5,593 page monster of a bill, another reason is evident: To cram as much special interest pork into it as possible.

How serious is this bill? Not very, but it spends serious money on unserious things. Tom Elliott of Grabien points out a few of the ridiculously beside-the-point items in this bill. They’re gobsmacking.

Snip.

Don’t worry. The Kennedy Center is getting yet another bailout. Why, exactly? Are they putting on shows right now? How many bailouts does it take to keep the lights on and the development department still working the phones calling on all those rich lobbyists living in the DMV?

And — thank God! — the government COVID stimulus package is there to keep teenagers from hooking up — as if there aren’t dozens if not hundreds of other programs doing the same thing. And let us take a moment to say thanks to all the HIV workers in other countries by giving them new cars. Funding for this is in the COVID bill. You? Buy used.

Other pork in the bill:

A minimum of $3.3 billion in grants to Israel.

Also included is $453 million to Ukraine, on top of the $400 million Trump eventually released. No word on how much of that goes to the ‘big guy.’

$10 million for “gender programs” in Pakistan.

$1.3 billion to Egypt, and $700 million to Sudan.

$135 million to Burma, $85.5 million to Cambodia, $1.4 billion for an “Asia Reassurance Initiative Act,” and $130 million to Nepal.

If we have to pay money to Sudan for it’s peace deal with Israel, then the price is too high.

There’s so much pork in the bill that President Trump has threatened to veto it:

He notes that the bill provides stimulus checks for the families of illegal aliens, “far more than the Americans are getting.”

Alas, President Trump is a late convert to fiscal sanity. The budget deficit was just shy of $1 trillion in FY2019, before coronavirus shutdowns wrecked the economy. Alas, since the Senate passed the bill 92-6 (Ted Cruz, Marsha Blackburn, Ron Johnson, Mike Lee, Rand Paul and Rick Scott were the only senators to vote against it), a veto override seems likely.

As Stephen Kruiser notes:

All of the media chatter about this has been referring to it as a COVID relief bill. Yes, we’re all aware that this is how these spending bills get done. That’s the problem, though, isn’t it? This little pork dance just gets worse with each new spending bill. Ninety-nine percent of the people who get elected to the House or Senate immediately become afflicted with brain damage that renders them incapable of understanding the meaning of “fiscal responsibility.”

(Hat tip: Stephen Green at Instapundit.)

Alas, I would not expect any fiscal process reform from a Biden-Harris Administration…

Paris Burning and the Existential Crisis

Saturday, December 8th, 2018

So French President Emmanuel Macron was forced to delay implementation of his carbon tax hike because the peasants were revolting French citizens were blocking traffic, burning vehicles, and battling police throughout the streets of Paris.

Nearly 300,000 protesters, many wearing yellow vests, took to the streets, including tens of thousands in Paris. Participation in the “yellow vest” protests, named after the yellow vests French drivers are required to keep in their vehicles for emergencies, fell to approximately 166,000 with 8,000 in Paris in the second weekend, but by the third weekend the protest gained momentum and violence.

The protests were sparked by Macron’s plans to increase taxes on gasoline, diesel, and electricity, and to enforce stricter limits on emissions from vehicles, in an effort to force people out of their cars and suburban homes, and onto public transit and back into densely populated cities. In Paris, protesters sang the national anthem and carried signs saying “Macron, resignation” and “Macron, thief,” and stormed barricades erected by the 3,000 to 5,000 security forces deployed to guard the presidential palace and National Assembly. Outside of Paris, protestors blocked highways, overran motorway toll booths, and obstructed access to gasoline stations and shopping malls.

On average, French gasoline costs a whopping $7.00 per gallon, and diesel more than $6.00 per gallon, with a majority of the price coming from fuel taxes imposed by the national government. These taxes had been scheduled to increase annually in the coming years, to meet Macron’s carbon dioxide emission reduction goals.

“We’re going to tax you until you bleed until you adopt a lifestyle more in tune with the way we think you should live.” For global leftists elites, global warming is not just a holy cause, but an existential struggle whose high stakes (“We’re all going to die!”) require ignoring any democratic pushback from the less-enlightened masses. And we’re just supposed to ignore the fact they write themselves cushy green energy tax breaks while imposing the overwhelming majority of the costs for such policies on ordinary people who live differently than they do. (While Paris burns, Macron is conspicuous by his absence.)

But it’s important to remember that conservatives have an existential threat of their own (deficit spending triggering hyperinflation that will destroy the economy), the solution to which (cutting back on the welfare state) is also deeply unpopular with wide swathes of the populace.

The difference, of course, is that the doomsday scenario of anthropocentric global warming is entirely conjectural, while hyperinflation has happened several times throughout history.

This is why you’re seeing the signs of that weird left-right populist nationalist fusion across Europe: No taxes increase, but also no welfare state cuts, while also restricting immigration so only natives get the cushy welfare handouts. That seems like an obvious recipe for electoral success in countries where even the EU’s weak tea “austerity” is increasingly unthinkable. But it’s not a recipe for growth, and can’t stave off the inevitable doom of a demographically unsustainable welfare state. In America it takes the form of President Donald Trump, a dogged tax-cutter and deregulator working diligently to get the economy growing again, but not someone who has tried to pare back the deficit or the welfare state in any meaningful way.

Europe’s sclerotic economy and demographic decline are going to bring on a crisis there long before it hits here, but it will eventually hit here. In the long run, the big government welfare state is likely to be seen as one of the longer-running mass delusions in history.

There will come a reckoning. The only question is whether you and I will be there to see it…

LinkSwarm for February 23, 2018

Friday, February 23rd, 2018

Another week in which I had zero free time! Enjoy a LinkSwarm, and hopefully I’ll have something a little more substantial next week.

  • “Officials Identify More Rotherham Victims, Number Up to 1,510.”
  • Nancy Pelosi wants you to know that keeping more of your own paycheck is “unpatriotic.” (Hat tip: Stephen Green at Instapundit.)
  • Speaking of Pelosi, just how did she triple her net worth during the financial crisis?
  • “President Donald Trump’s immigration hard-liners proved [last] Thursday it is possible to win even when the outcome of a battle is, on paper, a draw.”
  • On a per-capita basis, the United States doesn’t even rank in the top 10 of mass shooting fatalities.
  • “Florida Shooting Survivor Claims CNN Denied His Questions on School Safety, Provided Scripted Questions.” CNN: Potemkin Village media.
  • The experience of Israel proves that the NRA is right on school shootings.
  • “Republicans now sympathize with Israel (as opposed to the Palestinians) by a whopping 52-point margin over Democrats—79 percent to 27 percent—the greatest spread between the two parties in the last 40 years. Republicans have never been more favorably disposed toward Israel, while for Democrats, the opposite holds true.” (Hat tip: Director Blue.)
  • Remember: When a powerful female liberal Democratic politician sleeps with a married subordinate, it’s different. Because feminism. (Hat tip: Instapundit.)
  • Also:

    Within months of taking office, Mayor Megan Barry recommended the adult daughter of the head of her security detail — the man with whom she later admitted to having an affair — be hired for a job in the city’s legal department.

    The daughter got the job.

    The position as an entry-level city attorney was the first newly created job in Nashville’s legal department in two years. It was not part of the existing budget. Barry approved the new job opening. No other candidate was considered.

  • “Former Secretary of State Colin Powell said too many young people do not qualify for military service due in part to obesity and criminal records,” and being too stupid to pass the ASVAB. (Hat tip: Stephen Green at Instapundit.)
  • Another way in which President Donald Trump is like other recent Republican Presidents: ignoring deficits.
  • Austin experiences a significant uptick in violent crime since 2013.
  • Vox lays off 50 people. I didn’t know they even had 50 people to lay off…
  • Payoffs to college basketball players are widespread.
  • School enrollment at Evergreen State College drops 18.5%. How’s that “All Social Justice Warrior, all the time” format working out for you?
  • Billy Graham, RIP.
  • Boston Dynamics teaches robot to fight back against humans. Joke that follows should be: A.)”, find Sarah Conner,” B.) “What could possibly go wrong?”, or C.) “I for one welcome our new robot overlords!”
  • UK Kentucky Fried Chickens running out of chicken. Verily the endtimes are upon us…
  • Protestors March Against UK’s Non-Existent Austerity

    Saturday, June 21st, 2014

    I see that #NoMoreAusterity is trending on Twitter this morning. It seems the usual leftist protest sorts are rallying against the Cameron government’s “austerity.”

    The only problem is it doesn’t exist.

    Real austerity is cutting government spending until it matches receipts. Under David Cameron, deficit spending has merely gone from 11.4% of GDP in 2010 to a projected 5.8% in 2014. So the UK government hasn’t practiced austerity, it’s merely slowed the rate at which it’s digging its own grave.

    For the protestors, this simply will not do. They want government to give them things, and if it means having the moribund economies of Greece and Spain, so be it.

    But unlike Greece and Spain, the UK won’t be able to get Germany to bail them out, nor to hold down the hyperinflation that is the inevitable endpoint of excess deficit spending.

    Dave Barry’s Year-End Roundup for 2013

    Monday, December 30th, 2013

    It’s time once again for Dave Barry’s Year End Roundup. Some highlights:

    it turned out that Obamacare, despite all the massive brainpower behind it, had some “glitches,” in the same sense that the universe has some “atoms.”

    Did anything good happen in 2013? Yes! There was one shining ray of hope in the person of Toronto Mayor Rob Ford , who admitted that, while in office, he smoked crack cocaine, but noted, by way of explanation, that this happened “probably in one of my drunken stupors.” This was probably the most honest statement emitted by any elected official this year, and we can only hope that more of our leaders follow Mayor Ford’s lead in 2014. (We mean being honest, not smoking crack in a drunken stupor.) (Although really, how much worse would that be?)

    [January] begins with a crisis in Washington, a city that — despite having no industries and a workforce consisting almost entirely of former student council presidents — manages to produce 93 percent of the nation’s crises. This particular crisis is a “fiscal cliff” caused by the fact that for years the government has been spending spectacular quantities of money that it does not have, which has resulted in a mess that nobody could possibly have foreseen unless that person had a higher level of financial awareness than a cucumber. At the last minute, congressional leaders and the White House reach an agreement under which the government will be able to continue spending spectacular quantities of money that it does not have, thus temporarily averting the very real looming danger that somebody might have to make a decision.

    Also stepping down is Hillary Rodham Clinton, who, after decades of public service, resigns as secretary of state so she will finally have a chance to spend some personal quality time with her team of campaign advisers.

    As the federal budget deadline passes without Congress reaching agreement, the devastating, draconian, historically catastrophic sequester goes into effect, causing a mild reduction in the rate of increase in government spending that for some inexplicable reason goes unnoticed by pretty much everybody outside the federal government.

    Iran announces that it is constructing a new uranium enrichment plant, which according to a government spokesman will be used for “youth sports.”

    In sports, organizers of the Tour de France announce that this year they’re going to skip the bicycle-riding part and instead just gather all the competitors into a room and see who can do the most drugs.

    the Obama administration decides to once again pivot back to the economy, which continues to falter because — economists agree unanimously on this — not enough presidential speeches have been given about it.

    In politics, San Diego Mayor Bob “Bob” Filner resigns as a result of allegations that he is a compulsive serial horn dog who groped pretty much the entire female population of Southern California. He immediately becomes a leading contender in the New York City mayoral race.

    The federal government, in an unthinkable development that we cannot even think about, partially shuts down. The result is a catastrophe of near-sequester proportions. Within hours wolves are roaming the streets of major U.S. cities, and bacteria the size of mature salmon are openly cavorting in the nation’s water supply. In the Midwest, thousands of cows, no longer supervised by the Department of Agriculture, spontaneously explode. Yellowstone National Park — ALL of it — is stolen. In some areas gravity stops working altogether, forcing people to tie themselves to trees so they won’t float away. With the nation virtually defenseless, the Bermudan army invades the East Coast, within hours capturing Delaware and most of New Jersey.

    By day 17, the situation has become so dire that Congress, resorting to desperate measures, decides to actually do something. It passes, and the president signs, a law raising the debt ceiling, thereby ensuring that the federal government can continue spending spectacular quantities of money that it does not have until the next major totally unforeseeable government financial crisis, scheduled for February 2014.

    Things do not go nearly as smoothly with the rollout of Obamacare , which turns out to have a lot of problems despite being conceived of by super-smart people with extensive experience in the field of being former student council presidents. The federal Web site, Healthcare.gov, is riddled with glitches, resulting in people being unable to log in, people getting cut off, people being electrocuted by their keyboards, people having their sensitive financial information suddenly appear on millions of TV screens during episodes of “Duck Dynasty,” etc.

    Fortunately, as the initial rush of applicants tapers off, the system starts to work a little better, and by the end of the second week U.S. Secretary of Blame Kathleen Sebelius is able to announce that the program has amassed a total enrollment, nationwide, of nearly two people, one of whom later turns out to be imaginary. But this is not good enough for a visibly angry and frustrated and, of course, surprised President Obama, who promises to get the Web site fixed just as soon as somebody answers the Technical Support hotline, which has had the White House on hold for 73 hours.

    public dissatisfaction with Obamacare continues to grow as many Americans discover that their current insurance plans are being canceled. A frustrated and — it goes without saying — surprised President Obama reveals to the nation that “insurance is complicated to buy” and clarifies that when he said “if you like your plan, you can keep your plan,” he was using “you” in the sense of “not necessarily you personally.”

    I hardly need to tell you to read the whole thing, do I?

    LinkSwarm for March 5, 2013

    Tuesday, March 5th, 2013

    Had a busy weekend, so here’s a late LinkSwarm:

  • Liberals are casting their greedy gaze on your 401K,
  • Charles Krauthammer: Hail Armageddon!
  • As Mark Steyn put it: “those Mayan guys only hold an apocalypse every few thousand years. Washington now has a Mayan apocalypse every six weeks, whether it’s the fiscal cliff or the debt ceiling, or now the sequestration…it’s talking about $44 billion dollars, or about what the United States government borrows every nine days.”
  • Americans speak English, but Washington speaks a strange dialect where increasing spending by $1 trillion dollars is “holding the line on spending”.
  • Obama’s weak hand on the sequester (though I disagree than gun control is a long-term winning issue).
  • News flash: ObamaCare is still unpopular.
  • The idea that there are more black men in prison than college? Bunk. (via Instapundit)
  • Student suspended for brandishing gun, threatening to shoot someone. Oh wait, no, the student was suspended for tackling the gunman. What the hell, Florida?
  • Syrian rebels take city of Raqqa.
  • The MSM idea of objectivity: quoting a Paul Sadler employee as a neutral observer on Ted Cruz.
  • Speaking of Cruz, he continues to garner a superb list of enemies.
  • Cruz will also be the keynote speaker at CPAC.
  • Groupon’s gun-hating, money-losing CEO got fired.
  • If You Do One Thing Today, Write Congress to Support Budget Cuts

    Monday, December 31st, 2012

    Write your senators and congressmen to let them know you oppose any “Fiscal Cliff” deal that doesn’t include substantial entitlement reform and real spending cuts, not dummy out-year cuts that will never happen. Write them now, because they will come under tremendous pressure to cave into big spending, big taxing Democrats desperate to keep that deficit spending heroin flowing.

    Deficit spending will destroy our economy. The problem is not that we’re undertaxed, the problem is that the federal government spends insanely more money than we have in order to fund a vast array of crony capitalists, special interest groups, and permanent dole underclass for Democrats to milk for votes. If we continue down the current road, we will end up like Greece. There’s time to avoid going over the falls, but it’s getting shorter all the time.

    Without spending reform, there’s a good chance that this nation of the people, by the people and for the people may very well perish from this earth.

    The Real Apocalypse

    Friday, December 21st, 2012

    I hope you’ve been enjoying your mythical Mayan Apocalypse.

    But there’s a real, slow motion apocalypse that’s been going on all around you, and nobody is panicking about it, at least not in the open. I’m not talking specifically about the fiscal cliff, which is only a symptom of the problem rather than the problem itself.

    The real apocalypse is out-of-control federal spending, and the tsunami of debt it’s creating. And I don’t feel “apocalypse” is too strong a word. Excessive debt destroys economies. When the money printing presses run unchecked for years on end, hyperinflation is the inevitable result.

    The only reason we’re not suffering from hyperinflation right now is that Europe is sucking worse than we are. The Spanish economy is failing. The Greek economy has already failed. Were it not for that, it’s likely our huge budget deficits and the Fed’s printing presses would have already caused the Euro to replace the dollar as the world’s reserve currency. And, as Mark Steyn is fond of pointing out, Germany’s economy is big enough to bail out Greece and Spain. No one’s economy is big enough to bail us out.

    Obama and the Democratic Party has wagered our future on the proposition that they can run trillion dollar deficits for years on end without destroying the value of the American dollar. If they’re right, they deserve to win, since everything we know about economics is wrong, and we can just print dollars until we’re all rich.

    But the fundamental laws of economics haven’t been repealed. A reckoning is coming, and it’s going to destroy savings, economies and lives. And professional politicians, the Democratic Party, lobbyists and their mainstream media enablers would prefer to talk about anything else but the looming catastrophe. No wonder they want to talk about gun control and “the war on women.” Anything to keep the con game going until they’ve sucked the body politics dry. Just keep that deficit spending heroin coming.

    The only question about that reckoning is exactly when it’s coming, and exactly how bad it will be. If we’re lucky, it will only be as bad as Argentina 2001. If we’re not, then we’re talking Weimer Germany 1921-23.

    Get ready.

    Proposed Romney Ad: Burying the American Dream

    Thursday, September 20th, 2012

    FADE IN: Long shot of funeral.

    CUT TO: Shot of Obama in a black suit standing near an open grave.

    Obama: The American Dream enjoyed over 200 years of life.

    CUT TO: Men with Obama For America t-shirts with shovels picking up dirt from a pile labeled DEFICIT SPENDING and tossing it down into the grave.

    Obama: But it’s time for us to bury it today. It’s outlived its usefulness.

    CUT TO: Several young children at the bottom of the grave, already partially buried, as dirt rains down on their heads.

    Child: Wait, we’re not dead! Stop burying us!

    CUT To: Obama.

    Obama: It was a fine dream, but we have to move on to another dream: Of a government welfare state present at every moment of every American’s lives…

    CUT TO: Men shoveling in more dirt.

    Obama: From the cradle…

    CUT TO: Children in hole.

    Obama:…to the grave.

    Children: Stop! Just give us a chance! We want our dreams too!

    CUT TO: Obama.

    Obama: Farewell American dream. It was nice while it last.

    CUT TO: Children in grave.

    Children: Stop! Stop!

    CUT TO: Long shot of funeral, as the men continue to fill the grave.

    Children: (screaming) STOOOOOOOP!

    FADE OUT


    Anyone know the best way to send this to Romney, Restore Our Future, or American Crossroads?

    Why the Tea Party Exists

    Thursday, February 9th, 2012

    This piece by Dan McLaughlin encapsulates why the Tea Party exists, and why it has to fight a willfully heedless Republican establishment, so well that I’m going to quote whopping great chunks from it:

    As anyone with a passing familiarity with Republican politics over the past four or five decades knows, conservative magazines and think tanks have been making detailed entitlement reform proposals for most of those years, and Republicans running for offices high and low have been running on platforms of reducing the size and cost of government for just as long. And then nothing happens.

    That’s why Congress’ battles over the debt ceiling and related issues provide such a potent example. Basically all Republican Senators profess to be in favor of smaller government, and yet so few are willing to go to the barricades to make it a reality. Now, I’m a realist – there are limits to how much we could expect even a completely united GOP to bring home as long as Obama is the President and Harry Reid the Senate Majority Leader. But the repeated spectacle of leading pundits and Beltway Republicans tut-tutting Boehner and company for even trying to use their leverage to exact real concessions is a sign that the message Republican voters have been sending is not getting through to everyone.

    (snip)

    The related point here – and one that says much about why RedState has put so much energy into intra-party primary battles rather than the production of white papers – is that personnel is policy. The ideas are already there; what is lacking is the necessary corps of people with the will to fight for them.

    (snip)

    The point of my essay was not to denounce anyone, but to explain the history and depth of the current popular distrust on the Right of leaders who seem unwilling to lead. The battle to restrain runaway government spending is so much smoke and mirrors unless the people who profess to support it in word are dedicated to it in deed. No wealth of position papers, endorsements and Power Point presentations can demonstrate that. Voters and activists who have figured this out are rightly skeptical of those who don’t seem to “get it”. And they are more than willing to embrace flawed champions – even such a creature of the Beltway as Newt Gingrich – if they demonstrate the willingness to actually do something to stop the runaway train of federal spending. Every time some Beltway figure calls Newt or some Tea Party candidate crazy, voters think again, “he might actually be crazy enough to upset some applecarts to get things done.”

    Read the whole thing.

    (Hat tip: An American Housewife in London, more about which anon.)