Ceremoniously the President issued “Executive Orders” on more gun rules. Does it change anything? Continue reading →
I’ve been following a case for several months now and very stunned in how it has played out.
Continue reading →
For many years I’ve told Progressive acquaintances of mine
Back in 2009 when President Obama repeated that the Obamacare mandate was not a tax.
Today, more Obamacare information keeps rolling out showing the fees or what the U.S. Supreme Court labeled a “tax”. Here is a brief excerpt from Forbes.com:
As millions of Americans scramble to file their tax returns, many are shocked by the full cost of ObamaCare’s individual mandate.
“Those who failed to obtain minimum essential health insurance coverage last year will have had to send the Internal Revenue Service (IRS) a check for $1,130, on average,” Doug Holtz-Eakin, former director of the Congressional Budget Office, testified today before a congressional hearing.
You can read the rest here.
Economics 21 had an interesting graph in their article titled “How to Fix the $960 Billion Budget Deficit”.
Here is how federal government spending will be broken up the next ten years.
Almost two-thirds of additional spending will be driven by entitlements, primarily Social Security, Medicaid, and Medicare. America’s aging population is the primary contributor to the growth of Social Security and Medicare, while the Affordable Care Act substantially expanded the scope of Medicaid.
Adding interest payments to the budget brings the total increase in the debt from mandatory spending to 85 percent. Spending is projected to grow by $2.3 trillion annually by 2024.
In the President’s State of the Union tonight he will unleash another signature plan of throwing money at something. This one is “Free Education” at two year community colleges. That will be a terrible idea and Cato Institute explains why:
Take completion rates. According to the federal Digest of Education Statistics, only 19.5 percent of first-time, full-time students at two-year public schools finish their programs within 150 percent of the time they are slated to take. So less than 20 percent finish a two-year degree within three years, or, say, a 10-month certificate program within 15 months. And that rate has fallen even since 2000, when 23.6 percent of students completed.
That statistic doesn’t change much when you account for student transfers. According to the National Student Clearinghouse Research Center, only 20 percent of community college students transfer to four-year institutions. Four years later, 72 percent of those have completed their degree or remain enrolled. That inches the success rate to roughly 34 percent.
For profit two year programs come with a steeper cost, but more people flock to them then community colleges.
Given the wide price difference, you would expect for-profit schools to be getting their lunch eaten by already dirt-cheap community colleges. They haven’t been. Between 1990 and 2010, for-profit colleges saw much faster enrollment growth than community colleges; 179 percent compared to 44 percent. Why?
There are many reasons, but one seems to be that for-profits are more responsive to students’ needs and desires than community colleges. They appear to offer more flexible scheduling, better focused training and superior student services. They can charge more in part because they provide a better service.
Cato’s write up is in depth and also tackles “the fraud” issue as well. Take a look at the rest of it here.
With President Obama having a disastrous 4 years of losing Democrats in the House and Senate, he will now have to face his opponents in the federal budget ring. The media and his supporters have given him a pass on not getting a budget implemented in the last six years. This year will be different with the House/Senate being revamped with budget conscious members.
Rebecca Shabad at TheHill.com has an excellent timeline of what the President faces in the next coming months regarding the 2016 budget. I suggest taking a look at the article for the detailed write up after each date listed.
February 2: Obama’s budget deadline
February 27: DHS funding runs out
March 15: Debt limit suspension expires
April 1: GOP budget resolution?
September 30: Shutdown deadline
October 1: Fiscal 2016 begins
Government wants you to invest in them. President Obama talked of a new investment fund in the past and now, without consent of Congress, has started it up through the Treasury Department. Here is more from the Wall Street Journal:
A form of Roth Individual Retirement Account that allows people to save after-tax dollars and watch them grow tax-free until retirement, the new myRA offers a single investment option. It’s a private version of the G Fund that is available to federal workers and has lately been delivering annual returns of about 2% on its portfolio of Treasury securities.
Government is guaranteeing no fees to the investor. That is political code for the taxpayer will subsidize it.
Treasury is funding the program out of the budget for its Bureau of the Fiscal Service. The assertion here is that existing law allows this part of the Treasury to hire financial agents as part of its mission to efficiently finance the federal government.
Taxpayers are covering the costs, though their elected representatives in Congress never voted to create the program. So far Treasury also hasn’t told us the fees it is paying Comerica.
The United States federal government starts a new fiscal year today. The President proposed a budget in March but has not worked with the Senate or House in finalizing an actual budget. U.S. federal government spending will occur through later appropriations legislation that is signed into law.