A December study from George Mason University showed that Democratic districts have received nearly twice as much stimulus money as Republican districts — and the cash has been awarded without regard to how badly an area was suffering from job losses or income problems. Blue districts garnered the majority of the $787 stimulus package, getting […]
As the Obama administration celebrates it claim to victory on the economy, thousand more lose their jobs each month and thousands of other receive knocks on the door, its the sheriff informing homeowners the bank now owns their home and they have 30 days to pack up and leave. Nearly half of Detroit’s workers are […]
Peter Schiff–Although Barack Obama has refrained, at least for now, from delivering triumphant speeches in a naval flight suit, there is nevertheless a strong tone of accomplishment emanating from the President and his deputies. Over the weekend, top White House economic adviser Lawrence Summers even pronounced that the recession is now over. Without hedging his […]
With the federal government coming off a $1.42 trillion deficit (“roughly twice individual income tax revenue“) and Washington already another $292 billion in the red, the president and his allies are determined to ramp up government “stimulus” spending even more and turn the Troubled Asset Relief Program (TARP) into a slush fund for politicians. But […]
A few media outlets cheered the announcement that Bank of America was repaying its $45 billion of bailout money ahead of time. Bank of America is now obviously healthy again, so it’s time to celebrate, right? Well, no. The main reason Bank of America paid back the money was to get out from under the […]
By Matt Cover, Staff Writer House Majority Leader Steny Hoyer and House Speaker Nancy Pelosi arrive for a press conference after House passage of the health care reform bill at the U.S. Capitol on Saturday, Nov. 7, 2009. (AP Photo/J. David Ake) (CNSNews.com) – House Speaker Nancy Pelosi (D-Calif.) endorsed the idea of a […]
AIG Slashes US Debt Under Deal With New York Fed Bailed-out insurer AIG said on Tuesday it had closed a pact with the New York Federal Reserve that slashes its debt under a credit facility by more than half, to $17 billion. This is the same AIG that spend nearly $500,000 of our bailout money […]
Posted by Erick Erickson: Wow. Obama has been touring the nation making sure we know how many jobs he has saved or created. It is looking more and more like he is saving or creating the jobless. Unemployment this morning topped 10.2%, even though the number seeking employment has declined. Many have just given up. […]
Posted by Leon H. Wolf Via USA Today, TARP IG Neil Barofsky has some harsh words for the way the TARP funds have been handled: A Treasury Department watchdog is warning that a key $700 billion bailout program has damaged the government’s credibility, won’t earn taxpayers all their money back and has done little to […]
To the Congress: The U.S. Postal Service was established in 1775 – you have had 234 years to get it right; it is broke. Social Security was established in 1935 – you have had 74 years to get it right; it is broke. Fannie Mae was established in 1938 – you have had 71 years […]
