The U.S. Post Office isn’t a publicly traded company. But if it was, the short sellers would be having a field day.
There are simply too many factors blocking a revival of one of the oldest and most venerated of government agencies, the only government agency with its own poem: “Neither rain, nor sleet, nor snow, nor gloom of night will keep them from their appointed rounds…”
And that’s a shame, according to one business consultant who makes his living helping firms cut costs.
Mail It In: The Post Office is Done - FOXBusiness.com
March 17th, 2010FACT CHECK: Premiums would rise under Obama plan
March 17th, 2010Buyers, beware: President Barack Obama says his health care overhaul will lower premiums by double digits, but check the fine print.
Premiums are likely to keep going up even if the health care bill passes, experts say. If cost controls work as advertised, annual increases would level off with time. But don’t look for a rollback. Instead, the main reason premiums would be more affordable is that new government tax credits would help cover the cost for millions of people.
via FACT CHECK: Premiums would rise under Obama plan - Yahoo! News.
Barack Obama threatens to withdraw support from wavering Democrats
March 16th, 2010The president will refuse to make fund-raising visits during November elections to any district whose representative has not backed the bill.
A one-night presidential appearance can bring in hundreds of thousands of dollars in funds which would otherwise take months to accumulate through cold-calling by campaign volunteers.
via Barack Obama threatens to withdraw support from wavering Democrats - Telegraph.
Housing Starts Drop 5.9% to 575,000 Rate
March 16th, 2010U.S. housing starts and permits to build new homes both fell in February as winter storms in some parts of the country disrupted home building, a government report showed Tuesday.
The Commerce Department said housing starts fell 5.9% to a seasonally adjusted annual rate of 575,000 units, reversing the prior month’s gain.
via Housing Starts Drop 5.9% to 575,000 Rate - FOXBusiness.com.
House may try to pass Senate health-care bill without voting on it
March 16th, 2010After laying the groundwork for a decisive vote this week on the Senate’s health-care bill, House Speaker Nancy Pelosi suggested Monday that she might attempt to pass the measure without having members vote on it.
Instead, Pelosi (D-Calif.) would rely on a procedural sleight of hand: The House would vote on a more popular package of fixes to the Senate bill; under the House rule for that vote, passage would signify that lawmakers “deem” the health-care bill to be passed.
via House may try to pass Senate health-care bill without voting on it - washingtonpost.com.
Obama’s illusions of cost-control
March 15th, 2010There’s a parallel here: housing. Most Americans favor homeownership, but uncritical pro-homeownership policies (lax lending standards, puny down payments, hefty housing subsidies) helped cause the financial crisis. The same thing is happening with health care. The appeal of universal insurance — who, by the way, wants to be uninsured? — justifies half-truths and dubious policies. That the process is repeating itself suggests that our political leaders don’t learn even from proximate calamities.
via Robert J. Samuelson - Obama’s illusions of cost-control - washingtonpost.com.
US presses Israel over East Jerusalem settlement row
March 15th, 2010The US has said it is awaiting a “formal” response from Israel amid a row over its decision to build 1,600 new homes in occupied East Jerusalem.
Israel angered the US by announcing the move during a visit by Vice-President Joe Biden aimed at backing peace talks.
US Secretary of State Hillary Clinton last week asked Israel to show it was committed to Middle East peace efforts.
But PM Benjamin Netanyahu rejected any limits on Jewish building in Jerusalem and has yet to respond to US concerns.
via BBC News - US presses Israel over East Jerusalem settlement row.
Graham: Pelosi has House Dems ‘liquored up on sake’ ready for ’suicide run’ - The Hill’s Blog Briefing Room
March 15th, 2010Republican Sen. Lindsey Graham (R-S.C.) on Monday used language that compared House Democrats’ efforts to pass healthcare reform legislation to a Japanese kamikaze mission.
“Nancy Pelosi, I think, has got them all liquored up on sake and you know, they’re making a suicide run here,” Graham said on the Keven Cohen Show on WVOC radio in Columbia, S.C.
Dodd Unveils Financial Regulatory-Reform Bill
March 15th, 2010U.S. Senate Banking Committee Chairman Christopher Dodd on Monday unveiled a bill to revamp U.S. financial rules that would place a consumer protection agency within the Federal Reserve and give the central bank new powers over non-bank financial firms.
Under the bill, the consumer agency would have rule-writing power and the power to enforce consumer protection rules at banks with assets of more than $10 billion, all mortgage-related businesses and large non-bank financial firms, such as insurers, a summary of the bill said.
via Dodd Unveils Financial Regulatory-Reform Bill - FOXBusiness.com.
Butler University Deems Chief Justice Roberts Too Controversial for Commencement Address
March 15th, 2010When John Roberts’ niece graduates in May from Butler University this May, the Supreme Court chief justice may attend as a relative — but he has been deemed too controversial to take the stage as commencement speaker.
University faculty members scuttled a student-led drive to invite Roberts to speak at the May 8 ceremony, a decision that has disappointed the students and some conservatives on the Indianapolis campus.
“We try to steer clear of political divides if possible,” Butler Faculty Senate President Jeanne VanTyle told the Indianapolis Star.
Toyota: ‘Significant Inconsistencies’ in Case of Reported Runaway Prius
March 15th, 2010Toyota is casting doubt on a California man’s claim that his Prius sped out of control on a California freeway, saying Monday that it found “significant inconsistencies” between the the man’s story and the company’s preliminary findings.
The car’s accelerator pedal was tested and found to be working normally, and a backup safety system also worked properly, Toyota spokesman Mike Michaels said during a news conference.
“Toyota believes there are significant inconsistences,” Michaels said. “To say this incident was sensationalized would be an enormous understatement.”
via FOXNews.com - Toyota: ‘Significant Inconsistencies’ in Case of Reported Runaway Prius.
U.S., U.K. Move Closer to Losing Rating, Moody’s Says
March 15th, 2010The U.S. and the U.K. have moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debt rose, according to Moody’s Investors Service.
The governments of the two economies must balance bringing down their debt burdens without damaging growth by removing fiscal stimulus too quickly, Pierre Cailleteau, managing director of sovereign risk at Moody’s in London, said in a telephone interview.
via U.S., U.K. Move Closer to Losing Rating, Moody’s Says (Update1) - Bloomberg.com.
Actor Peter Graves found dead at his home in Pacific Palisades
March 14th, 2010Actor Peter Graves was found dead Sunday at his home in Pacific Palisades, according to law enforcement sources. Graves, who stared in “Mission: Impossible,” “Airplane!” and Billy Wilder’s “Stalag 17″–apparently died of natural causes, the sources said.
via Actor Peter Graves found dead at his home in Pacific Palisades | L.A. NOW | Los Angeles Times.
Social Security to Start Cashing Uncle Sam’s IOUs
March 14th, 2010The retirement nest egg of an entire generation is stashed away in this small town along the Ohio River: $2.5 trillion in IOUs from the federal government, payable to the Social Security Administration.
It’s time to start cashing them in.
Like that’s going to work.
via FOXNews.com - Social Security to Start Cashing Uncle Sam’s IOUs.
The Twilight of the Elites - 10 Ideas for the Next 10 Years
March 13th, 2010In the past decade, nearly every pillar institution in American society — whether it’s General Motors, Congress, Wall Street, Major League Baseball, the Catholic Church or the mainstream media — has revealed itself to be corrupt, incompetent or both. And at the root of these failures are the people who run these institutions, the bright and industrious minds who occupy the commanding heights of our meritocratic order. In exchange for their power, status and remuneration, they are supposed to make sure everything operates smoothly. But after a cascade of scandals and catastrophes, that implicit social contract lies in ruins, replaced by mass skepticism, contempt and disillusionment.
via The Twilight of the Elites - 10 Ideas for the Next 10 Years - TIME.
FOXNews.com - Democrats Dump Student Aid Overhaul Into Health Care Bill
March 13th, 2010If a yearlong struggle to pass sweeping health care reform that will affect every American wasn’t enough for Democrats, they have now decided to add a sweeping overhaul of student aid to the bill.
That means Democrats will try to muscle through two top administration priorities using a bare-knuckled tactic called reconciliation that only requires the approval of a simple majority in the Senate and prevents Republicans from killing the bills through filibusters.
via FOXNews.com - Democrats Dump Student Aid Overhaul Into Health Care Bill.
The United States Department of Unintended Consequences
March 13th, 2010This is the department that handles all of the issues that arise from all of the laws that stupid politicians pass trying to stick it to the rich man/business/ evil corporations, that inevitably end up screwing the ones the were intended to help.
Idiots!
New Overdraft Rules May Result In Higher Costs for Everyone
March 13th, 2010Consumers across the country cheered new regulations unveiled this week that, in some cases, will lead to the end of bank overdraft fees, but that excitement may have masked some serious downsides: the U.S. banking industry now faces a $40 billion potential drop in revenue, and may need to start charging all of its customers for basic services to make up the loss.
via New Overdraft Rules May Result In Higher Costs for Everyone - FOXBusiness.com.
IRS visits Sacramento carwash in pursuit of 4 cents
March 13th, 2010Arriving at Harv’s Metro Car Wash in midtown Wednesday afternoon were two dark-suited IRS agents demanding payment of delinquent taxes. “They were deadly serious, very aggressive, very condescending,” says Harv’s owner, Aaron Zeff.
The really odd part of this: The letter that was hand-delivered to Zeff’s on-site manager showed the amount of money owed to the feds was … 4 cents.
Colorado Screws Amazon and Its Affiliates
March 12th, 2010Due to a horrible new law (HB 1193) recently passed in Colorado, Amazon terminated all of its “Amazon Associates” accounts in Colorado. (Amazon Associates is an affiliate program: members earn a small commission on Amazon sales via their links.) Much to my dismay, I found out about this change in the wee hours of Monday morning, while working on a new web site.
If Democrats ignore health-care polls, midterms will be costly
March 11th, 2010In “The March of Folly,” Barbara Tuchman asked, “Why do holders of high office so often act contrary to the way reason points and enlightened self-interest suggests?” Her assessment of self-deception — “acting according to wish while not allowing oneself to be deflected by the facts” — captures the conditions that are gripping President Obama and the Democratic Party leadership as they renew their efforts to enact health-care reform.
Their blind persistence in the face of reality threatens to turn this political march of folly into an electoral rout in November. In the wake of the stinging loss in Massachusetts, there was a moment when the president and the Democratic leadership seemed to realize the reality of the health-care situation. Yet like some seductive siren of Greek mythology, the lure of health-care reform has arisen again.
Obama Spiked ACORN Investigation: Judicial Watch Releases FBI Documents
March 11th, 2010Documents released today by Judicial Watch reference serious allegations of corruption and voter registration fraud by the Association of Community Organizations for Reform (ACORN), as well as the Obama administration’s decision to shut down a criminal investigation into these matters.
via » Obama Spiked ACORN Investigation: Judicial Watch Releases FBI Documents - Big Government.
Greek riots: Up to 60,000 people take to streets to protest against government
March 11th, 2010Street clashes broke out between rioting youths and police in central Athens today as tens of thousands demonstrated during a nationwide strike against the cash-strapped government.
Hundreds of masked and hooded youths punched and kicked motorcycle police, knocking several off their bikes, as police responded with volleys of tear gas and stun grenades.
The violence spread after the end of the march to a nearby square, where police faced off with stone-throwing anarchists and suffocating clouds of tear gas sent patrons scurrying from open-air cafes.
via Greek riots: Up to 60,000 people take to streets to protest against government | Mail Online.
Robert Gibbs, Barack Obama Grilled On Congressional Black Caucus
March 11th, 2010Anyone who’s a briefing junkie (there are more than you think) can tell you that the back third of the daily pressers are often the source of fireworks like this. As AURN’s April Ryan tries to ask Gibbs if the CBC has the President’s ear, and if the President has an urban agenda, WorldNetDaily’s Lester Kinsolving tries to fight his way in to ask if the President approves of what he calls the CBC’s “racial segregation.”
via Robert Gibbs, Barack Obama Grilled On Congressional Black Caucus | Mediaite.
Internet Monitors Tracked ‘Jihad Jane’ Colleen LaRose for Three Years
March 11th, 2010While the rest of America was stunned to hear that a suburban Pennsylvania woman allegedly used the Internet identity of Jihad Jane and tried to join militant jihadists, for a group of ‘Net vigilantes it was old news.
In fact, at least one of the Web sleuths claims to have alerted the feds to Colleen LaRose’s alleged efforts to raise money and recruit fighters for Islamic terrorists and to carry out her own jihad.
via Internet Monitors Tracked ‘Jihad Jane’ Colleen LaRose for Three Years - ABC News.
Ryan: ‘This Is Their Do-or-Die Moment’
March 11th, 2010“Game on,” says Rep. Paul Ryan (R., Wis.), the ranking member of the House Budget Committee, to National Review Online. “The Democrats are moving on reconciliation. They are revving up their machine, even though they don’t yet have the votes to pass the Senate bill in the House. This is their do-or-die moment. They know can’t let their members go home for Easter with this hanging out there.”
via Ryan: ‘This Is Their Do-or-Die Moment’ - Robert Costa - The Corner on National Review Online.
NASA Heads Knew NASA Data Was Poor
March 11th, 2010Email messages obtained by the Competitive Enterprise Institute via a Freedom of Information Act request reveal that the climate dataset of NASA’s Goddard Institute for Space Studies (GISS) was considered — by the top climate scientists within NASA itself — to be inferior to the data maintained by the University of East Anglia Climate Research Unit (CRU).
The NASA scientists also felt that NASA GISS data was inferior to the National Climate Data Center Global Historical Climate Network (NCDC GHCN) database.
via Pajamas Media » Climategate Stunner: NASA Heads Knew NASA Data Was Poor, Then Used Data from CRU.
Biden’s Disastrous Israel Trip
March 11th, 2010It’s hard to see the awkwardness of Biden’s visit so far having a broader political impact. But it does contribute to the impression, fair or unfair, that President Obama is presiding over an era of diminished American influence, in which allies and rivals alike feel comfortable thumbing their noses at a White House focused above all else on its domestic priorities.
House GOP votes to ban all earmarks
March 11th, 2010House Republicans approved a conference-wide moratorium on earmarks on Thursday, one day after a House committee enacted a ban on for-profit earmarks.
The Republicans’ moratorium is more extensive than the House Appropriations Committee’s ban in that it applies to all earmarks for all members of the caucus.
via House GOP votes to ban all earmarks - The Hill’s Blog Briefing Room.
Mission accomplished, indeed
March 10th, 2010RONALD REAGAN liked to say that there was no limit to what a man could accomplish if he didn’t mind who got the credit. The transformation of Iraq from a hellish tyranny into a functioning democracy will be recorded as a signal accomplishment of George W. Bush’s presidency, and he probably doesn’t mind in the least that the Obama administration would like to take the credit.
This week’s parliamentary elections in Iraq brought 12 million voters to the polls - a remarkable 62 percent turnout, notwithstanding a wave of Election Day bombings that killed 38 people.
