The Top 10 Obama Administration Investigation Targets

The Top 10 Obama Administration Investigation
Targets

January 17th, 2011

Human Events

Rep. Darrell Issa (R.-Calif.), the new chairman of the House Oversight and
Government Reform Committee, has signaled he will conduct numerous oversight
investigations of the Obama Administration. Here are the Top 10 areas ripe for
investigation for Issa and other congressional Republicans:
(1) ObamaCare: Any
measure that restructures one-sixth of the U.S. economy bears scrutiny
particularly when passage of the bill required legislative bribes such as the
Louisiana Purchase
and Cornhusker
Kickback
. To paraphrase Nancy Pelosi, now that ObamaCare has passed, let’s
see exactly what is in it — and how it got there.
(2) Stimulus: The American people deserve to know what they
got for the $787 billion stimulus package that Obama signed in February 2009,
including how much money was spent frivolously to publicize the legislation. And
where exactly are all those jobs that the administration claims were “created or
saved?”
(3) Freddie and Fannie: Previous attempts by congressional
Democrats to get to the bottom of the 2008 financial meltdown conveniently
overlooked the role of Fannie Mae and
Freddie Mac. How much of the housing crisis was due to financial donations going
to Democratic officials, who overlooked financial transgressions at the agencies
so long as mortgages flowed to unworthy credit risks?
(4) Wikileaks: Someone in
the administration needs to explain how the lowly serviceman who served
up secret documents to Wikileaks
could have access to such a large amount of
classified material. And were any actions taken to shut down Julian Assange in
the months after the initial disclosures and before the embarrassing leak of
State Department cables?
Read more.

The Daily Outrage: More on why our economy is going extinct

The Daily Outrage: More on why our economy is going extinct

WHO: The National Science FoundationWHAT: Gave a $141,002 federal stimulus grant to Montana State University to fund a six-week, student trip to Hangzhou, China, to study dinosaur eggs and other fossils.

WHY IT’S AN OUTRAGE: The students found ample time to experience Chinese culture and explore on taxpayers’ money, but the dinosaur eggs did not hatch any new jobs.

WHERE TO VENT: Call the NSF inspector general at 800-428-2189.


Obama Says Stimulus Worked, Created Jobs… Here’s a Reminder of the Waste

Obama Says Stimulus Worked, Created Jobs… Here’s a Reminder of the Waste

July 5th, 2010

by Warner Todd Huston

In his recent trip to Racine, Wisconsin, President Obama claimed that his stimulus policies worked and “saved jobs.” He also said that his policies staved off another Great Depression. But lets take a look at some of the graft, waste and pointless, useless, wild-eyed spending that was in his so-called stimulus.

  • $5 million to create a geothermal energy system for a shopping mall in Tennessee. The mall is over half empty of tenants and has had falling shopper attendance for years *
  • $1.57 million to Penn State University study fossils in Argentina *
  • $100,000 to a puppet theater in Minnesota *
  • $2 million to build a replica railroad tourist trap in Carson City, Nev. *
  • A boat cruise company in Chicago got almost $1 million to “combat terrorism” *
  • $500,000 went to Ariz. State Univ. to study ant genetics *
  • Another $450,000 went to Uinv. of Arizona to study ants *
  • Almost $400,000 went to Univ. of New York to pay students to drink beer and smoke marijuana for a study there *
  • $219,000 to the Nat’l Institute of Health to study if young people “hook-up” after getting drunk *
  • $210,000 to the Univ. of Hawaii to study bees *
  • $700,000 to crab fishermen in Oregon to pay for lost crab pots *
  • $5,000 a person tax rebate if you buy a new electric golf cart (Wall Street Journal)
  • Up to $1 million went to prisoners in $250 stimulus checks (FoxNews)
  • $54 mil to a New York Indian tribe to run its casino (New York Post)
  • $1 billion for a power plant in Mattoon, Illinois that is based on speculative science and may not even work **

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Why Obamanomics Has Failed

Why Obamanomics Has Failed

June 30th, 2010

By ALLAN H. MELTZER, The Wall Street Journal

The administration’s stimulus program has failed. Growth is slow and unemployment remains high. The president, his friends and advisers talk endlessly about the circumstances they inherited as a way of avoiding responsibility for the 18 months for which they are responsible.

But they want new stimulus measures—which is convincing evidence that they too recognize that the earlier measures failed. And so the U.S. was odd-man out at the G-20 meeting over the weekend, continuing to call for more government spending in the face of European resistance.

The contrast with President Reagan’s antirecession and pro-growth measures in 1981 is striking. Reagan reduced marginal and corporate tax rates and slowed the growth of nondefense spending. Recovery began about a year later. After 18 months, the economy grew more than 9% and it continued to expand above trend rates.

Two overarching reasons explain the failure of Obamanomics. First, administration economists and their outside supporters neglected the longer-term costs and consequences of their actions. Second, the administration and Congress have through their deeds and words heightened uncertainty about the economic future. High uncertainty is the enemy of investment and growth.

Most of the earlier spending was a very short-term response to long-term problems. One piece financed temporary tax cuts. This was a mistake, and ignores the role of expectations in the economy. Economic theory predicts that temporary tax cuts have little effect on spending. Unless tax cuts are expected to last, consumers save the proceeds and pay down debt. Experience with past temporary tax reductions, as in the Carter and first Bush presidencies, confirms this outcome.

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