Benjamin Franklin wrote that “in this world nothing can be said to be certain, except death and taxes.” Were he alive today, Franklin might add to the list corruption in federal housing programs.
A new policy analysis from Randal O’Toole eviscerates the “one industry [that] has unquestionably been socialistic for decades: urban transit.”
The U.S. Postal service has announced a net loss of $8.5 billion for fiscal 2010. Since 2006, the USPS has lost $20 billion, and the organization is close to maxing out its $15 billion line of credit with the U.S. Treasury. Although the USPS has achieved some cost savings, they haven’t been enough to overcome a large drop in revenue due to the recession and the greater use of electronic alternatives by the public.
Self-anointed elites have been relentless in prodding government planners to apply their enlightened solutions for the purported benefit of the ignorant masses. As a result, the federal government has become a Super Nanny monitoring and guiding the intimate activities of the nation’s 300 million inhabitants. However, the government is not altruistic and does not have the solutions for how people should live their lives.
Following last week’s electoral victory, the House Republican leadership has been talking up its pre-election pledge to return federal spending to 2008 levels. As I’ve previously discussed, the Republicans are only talking about non-security, discretionary spending. This category of spending represents a relatively small portion of the overall federal budget, and would only shave about $100 billion off of what the president wants to spend.
Washington Post columnist Robert Samuelson provides a blistering critique of the Obama administration’s plan for a national system of high-speed rail. Samuelson dismisses HSR as “pork-barrel” and “a perfect example of wasteful spending masquerading as a respectable social cause.”
For those of us who recognize that federal k-12 education spending has been a costly failure, it’s been great to hear some tea party candidates call for the abolition of the U.S. Department of Education.
The office of Senator Tom Coburn (R-OK) has released an appropriately timed report on federal subsidies that have gone to the deceased. From the introduction:
House Republican Whip Eric Cantor’s “YouCut” project has released a new video that attempts to visually underscore the impropriety of sticking future taxpayers with a mountain of federal debt.
Vice President Joe Biden is an affable fellow, which sometimes makes his tendency to exaggerate the truth somewhat amusing. However, Biden’s latest tall tale is as unamusing as it is wrong.