Tag Archives: Debt

Irony Alert! DNC Spends More Than it Takes In

dollarThe Democrat National Committee continues to reap a “windfall” from their ongoing Blame Russia™ and “People who don’t vote Democrat are White Supremacists” narratives as donors flock to write checks in support of …wait! It’s just the opposite.

The DNC raised just $4.4 million last month, the second lowest August fundraising figure for the party in the past decade. The party had less cash on hand at the end of the month than it did at the beginning, as its spending outpaced its fundraising by $44,575.

Democrats spending more than they take in?  You don’t say?

Continue reading

Oberlin Follows Mizzou and Evergreen – Enrollment Drops, Financial Woes

OBERLIN COLLEGEOberlin College is at the forefront of social justice outrage hoaxes but until recently had not reported any real-world consequences. See what I did there? Real world? Mizzou went full-stupid with their fake outrage which cost themand cost them and cost them, and then cost them some more.

Evergreen took it to another level, and now they are paying the price. And now the snowflakes at fragile artsy Oberlin have set themselves up to fail with their hoaxes and nonsense which (you should think to their drama-queen delight) parents and potential future students have been watching. Continue reading

If Illinois Had One-Party Rule: House Dems Pass $5 Billion Tax Increase

Illinois circling the drainI am fond of pointing out that to Democrats there is no limit to how much of other people’s property they will spend. California is the poster child, but Illinois is vying for the title. If it weren’t for the citizens electing a Republican Governor, they’d be staring into the teeth of a 32% $5 billion dollar permanent tax increase.

Passed with a 72-45 vote, the $5 billion tax bill raises the personal income tax rate from 3.75 to 4.95 percent and the corporate income tax rate from 5.25 to 7 percent, Reuters reports. The bill is on its way to the Illinois state Senate, which is also controlled by Democratic lawmakers, for approval.

Continue reading

Keynesian Economics

Keynesian Economics

I’ve never understood the idea that taking money from the general public (who then can’t spend it themselves), running it through the Government trough (and the eventual skimming off its percentage of overhead), and then putting a lesser amount back into the general public is supposed to  “stimulates” the economy.  Even if you are throwing in borrowed money, it’s still a closed loop because that borrowed money has to be returned.

I grow weary that of the spin that Government stimulates the economy – to me, it is Bastiat’s Window writ large.  You want a better economy – let the wealth building part of it simply keep more of its own money to invest in itself and keep government out of the way.  We’ve just had 8 years of Keynesian / Statist economic “direction” with Government picking winners and losers and putting its economic thumb on the scale.

The image is perfect – go ahead and plug a device into that strip and tell me that its gonna work.

(H/T: Cafe Hayek)

See, It’s Not Just New Hampshire – California Underestimated Medicaid Costs Too…

Where Trump should build the wall

Now, more than ever, this is where Trump should build the wall

The incoming Sununu administration discovered a $65 million dollar hole at the New Hampshire Department of Inhumanly High Health Services ((NHD(i)HHS)) thanks mostly to expanded Medicaid costs they had not anticipated. Seriously? We here in our humble shop knew it would happen from day one. We knew that the Federal contribution wasn’t “Free Money™.” And we have predicted, some with more diligence than others, that left to its devices it would be the end of New Hampshire’s no tax advantage.

All of these things are true no matter how smart our detractors think they are or the vocabulary used to disagree with us and the NHDHHS Budget bomb is more proof.

Now. If you’d like to see what this will look like down the road, California is proving once again to be an excellent example of what happens when you let liberal ideas and progressive narratives drive your decision making.

Continue reading

UNH President Makes About Half a Million – Look at What We Get!

UNH CampusNew Hampshire taxpayers should take a few moments to measure the value of their ‘investment” in leadership at the University of New Hampshire (UNH). UNH President Mark Huddleston is the second highest paid Public University President in New England.

Huddleston’s compensation package – which increased 2.7 percent compared to the previous year – consisted of a base salary of $385,000 with a bonus of $107,800, but that total did not include nearly $60,000 in deferred compensation and retirement benefits, nor such perks as living at a university-owned house worth almost $1 million or access to a university car valued as nearly $17,000.

So, what do you, the taxpayer, get in return.

Continue reading

Bernie’s Wife Ran Vermont College into a Ditch and Left it There.

jane sandersHeat Street.com is reporting that the wife of a socialist Senator Bernie Sanders drove a college she ran into so much debt it will no longer be able operate.

Burlington College announced today that it will close on May 27 after it found itself unable to recover from “the crushing weight of the debt” incurred under Jane O’Meara Sanders, the college’s former president and wife of Bernie Sanders.

How ironic.

Continue reading

Can We Please Get the Feds Out of the Solar Venture Capital Business?

Solyndra Obama

Solyndra was peanuts…

Your drunk Uncle Sam, he likes to play the solar ponies, but he couldn’t pick a winner if your life depended on it. But why should he care? It’s not his money.

The Economist

On March 29th SunEdison, an American firm that calls itself the world’s largest renewable-energy development company, was described in a public filing as facing a “substantial risk” of bankruptcy. Continue reading

Businessman Need Not Apply! Wait…

… scratch that.

I heard about this William F. Buckley quote but didn’t read it until a few days ago.  And since that time, I’ve had a chance to chew on it.

buckley_on_trump
Parts of Buckley’s statement do seem to fit, do they not?  Especially the reference to Trump’s vanity.  And regardless of what one thinks about Trump’s style — effusive self-aggrandizement, the maundering occasionally incoherent free-verse, the combative elbows-out swagger — the criticism regarding “a successful business man” in this quote rings fair in my view… at least it did on first glance.  Now, I’m not so sure. Continue reading

So where’s the less expensive, smaller government, deficit busting GOP in DC again?

60 percent of Republican voters feel “betrayed” by the party’s political leadership

They campaigned for getting majorities in the US House (where appropriations and tax bills start) and the US Senate.  They campaigned on smaller Government.  They promised to stop Obama’s expansion of Government.  They railed against piling up more deficit spending.  They promised to turn off the spigot.  So ask me again – WHY do we support Republicans?

The federal budget deficit will rise again this year for the first time in six years, according to a report released Monday by the Congressional Budget Office. Not only is this year’s deficit up by $100 billion, it marks the first time the deficit has grown, relative to the economy, since the Democrats had complete control of Washington. This year’s projected deficit is $544 billion, an increase of $105 billion over last year. As a share of the overall economy, the most meaningful measurement, the deficit has also increased, now equaling 2.9 percent of GDP.

And WHO is in charge right now, huh?

Continue reading

America’s Pension Crisis

Click to buy from Amazon

Click image to buy from Amazon

In this segment we are joined by Lawrence J. McQuillan, Senior Fellow and Director of the Center on Entrepreneurial Innovation at the Independent Institute and author of  CALIFORNIA DREAMING: Lessons on How to Resolve America’s Public Pension Crisis.

“In California Dreaming, McQuillan provides a beautiful case study of the way politics operates to produce public pension policies based on an insidious form of hidden deficit finance that harms future generations and undermines sound policies today. We may hope that his trenchant analysis of California’s problems will serve as a guide to much needed reform of local, state and federal government policies.” —Edgar K. Browning, Professor Emeritus of Economics, Texas A&M University

Follow us on YouTube, USTREAM, Facebook, and Twitter …and take us with you on iTunes, iHeart Radio, Spreaker,TuneIn, or Stitcher.

itunes_image2GrokTALK! is on TuneIn RadioGrokTALK on iHeart Radio -GrokTALK! Is On Stitcher Smart RadioGrokTALK On Spreaker

 

Data Point: Obama’s policies are turning us into Venezuela

Even as Obama crows about the deficit (annual) being cut in half (like that’s supposed to be hard, given he started at over a Trillion), the National Debt keeps going up. And that debt requires debt servicing – and that is real money too.

Rising Tide of Interest

Currently, the government’s interest costs are around $200 billion a year, a sum that’s low due to the era of low interest rates. Forecasters at the White House and Congressional Budget Office believe interest rates will gradually rise, and when that happens, the interest costs of the U.S. government are set to soar, from just over $200 billion to nearly $800 billion a year by decade’s end.

Continue reading

22 Trillion Dollars And Not Enough ‘Bridges’ Were Created or Saved

Broken BridgeThere is talk in Washington of raising the federal gas tax to deal with our “crumbling infrastructure.”

WASHINGTON (Reuters) — As gasoline prices plunge to the lowest level in more than five years, some lawmakers see a golden opportunity to bump up taxes at the pump to help pay for the repair of crumbling roads and bridges.

Fuel taxes have been flat for more than 20 years, starving the Highway Trust Fund of revenue used for rising infrastructure repair costs. Lawmakers have fueled the fund with last-minute short-term injections of cash, but want to find a more permanent fix.

The feds have spent 22 trillion on the Federal ‘Government’ since 2009.  Given the obvious mismanagement of that sum, why would we allow them to take more?

Continue reading

Budget Battle: Politically Connected Win, Everyone Else Loses

Credit: Business Insider

Credit: Business Insider

Yesterday, I was reminded of a piece of music I have not listened to in a while.  So this morning I figured I’d put it on while catching up with things.  I sat down at my desk, logged on and searched to find out about the results last nights bill.  Who knew how apropos the music was to be.  It was Mozart’s Requiem—Mass for the dead.

We’re doomed. Continue reading

U.S. debt has now surpassed $18 trillion.

Tax Money down the toilet for DoD green energy awardsCongratulations to Barack Obama and Jeanne Shaheen.  That unsustainable debt they once ran for office against just a few years back has risen 70%.  US Debt has now surpasses $18 Trillion.

Under President Barack Obama, America’s debt has skyrocketed 70%.

On the day Obama took office, January 21, 2009, Zero Hedge reports U.S. debt stood at $10.625 trillion. The national debt cleared $18 trillion for the first time on Black Friday.

In March, the Congressional Budget Office (CBO) projected that the Obama U.S. debt explosion would result in interest payments on U.S. debt quadrupling by 2024 to a stratospheric $880 billion a year, a sum 105 times bigger than the FBI’s budget.

Wynton Hall – Breitbart News

Time To Give Obama The Nobel Prize In Economics?

Obama Syria Iraq Peace PrizeI think it might be time to give Obama a Nobel Prize in economics.  This is a guy who has not had one day of his presidency where the US was not involved in an overseas contingency operation (see also a War), who has facilitated the bombing of several countries since his election (destabilizing them), and has authorized hundred of black-ops drone strike assassinations in foreign territory.  Peace Prize guy, right?

So shouldn’t the guy who said as a US Senator from Illinois, that $8.5 trillion in debt was irresponsible, unsustainable, bad for the children, blah blah blah , get special recognition for more than doubling the national debt in just a few short years?

The Nobel Prize committee has to be looking at this as potential winner.

Jeanne Shaheen Spends Over 20 Trillion in Six Years – Needs More Or Else!

Tax Money down the toilet for DoD green energy awardsJeanne Shaheen and more than half a decade of Democrat majority Government have spent more than 20 trillion dollars on that government.  We’ve had plenty of advertised stimulus, some of it sold as specific to the very thing that now motivates the US Senate to ask for a raise in the Federal gas tax.

Failure to keep pace with inflation over the past 20 years, along with steadily increasing fuel economy, has caused the Federal Highway Trust Fund that receives the money to sink to a dangerous level.

Failure, yes.  I’d agree that there has been plenty of failure.  Where the government is concerned failure is always an option.

Continue reading

Hope? When Obama Is Done You Won’t Have Any

hopenchangefineHope (and change) were the promise of the Obama Presidency.  We’ll change things until you have no hope.  That’s what happened.  And that is the plan going ‘Forward.’

Democrats all across the nation are embracing 1.9% total growth in 2013 and 0.1% in the first quarter of 2014.  And they should.  This is what they wanted. This is what their polices produced.

They’ve been spending other people’s money at historic rates, cranking out 4 trillion dollars a year on the government, adding almost 8 trillion more to the national debt.  And all th Keynesian economic stimulation has done what it always does–depress the economy.

Continue reading

About those Shaheen Campaign Talking Points…

Shaheen blocks restoring Vet benifitsWMUR has posted some inside baseball on the tactics of the Shaheen Campaign now that Scott Brown is officially entering the fray.  Well, it’s not really inside baseball, more like store front window shopping for baseballs.  Anyone who walked by and looked in would have know what was going to be ‘for sale’ from Shaheen in 2014.

The first point [Mike] Vlacich [Shaheen’s campaign Manager] wants stressed is: Scott Brown is for Scott Brown.

“Scott Brown’s three-week listening tour has been long on tweeted selfies at Granite State landmarks and negative attacks against Jeanne Shaheen, but hasn’t included much about New Hampshire,” Vlacich wrote. 

Continue reading

So is Scott Brown really a surrogate for Andy Leach?

Scott BrownThis past Wednesday nite, fellow Grokster Mike and his lovely bride Mar-Mar opened up their home and brought in their friends and family to meet Scott Brown (if you haven’t heard, he may or may not run for US Senator from NH but at least is in the exploratory phase – much to the relief of NH GOP Chair Jennifer Horn and all of the NH GOP Committees to which he’s been sending money).  Now I was rather surprised when Mike said he had done so but his stated goal was to hear all of the candidates (or possible ones) and to give his friends and neighbors an opportunity to hear what they had to say.  By the time Scott had arrived, well, it was clear that there was a mix of folks at Mike’s; certainly there were those I see all the time but there was also more than a few folks I had never met ending up with a full house.

It was clear that even though we had never met, he knew who I was and his demeanor changed  – I guess that Andy Leach (former Sununu aide-de-camp, former NH GOP Exec. Dir (who remembers that I did not take “no” for an answer and finally got him in a ‘Grok micro-interview), Kelly Ayotte aide-de-camp, and now working for Scott Brown). I am imagining that he “advised” Scott as he immediately wagged his finger in my face and made it clear that there was to be NO video recording.  Sure, I did make the anti-argument, that I do this kind of activity so that those that cannot be there in person would be able to hear his message: unadulterated, unedited (except for time – attention spans and all) and that if ANYTHING got abstracted out, the ENTIRE video gets posted (I was doing that before Project Veritas was doing that) so that the complete context would be seen and heard.

No dice.  It was clear that he is not happy with bloggers – even as Mike and Mar-Mar were standing there with their GraniteGrok shirts on.  Sure, Continue reading

Blogosphere Doodlings – “It’s for the bicycles, man!”

Ah yes, back to TreeHugger.  They really are all about downshifting one’s standard of living to ensure that “Gaia” won’t be hurt from global warming global cooling climate change Mankind activities that would make us like Venus (or was that Neptune?) in temperature.  They also are all about Socialism (“we’re all in this together and we won’t let you out”) and the totalitarianism that you will live your life by their sacred proscriptions.  I call it “the cave and firepit lifestyle”.

Well, owning a big car?  Very much a mortal sin.  Electric car?  Well, maybe – as long as you use PV panel to recharge it. While they are all about cramming everyone into high density “walkable neighborhoods” (like the self-righteous do-gooders from the Federal Government EPA / HUD / DOT), they will allow that riding bicycles are OK and rate just a tick under forcing you to walk everywhere. And certainly, if those bikes are “communally owned” so much the better.  Thus, this bad news gave them a rather latte day (emphasis mine, reformatted):

Citi Bike is underwater and de Blasio refuses bailout

citi_bike_2.jpg.662x0_q100_crop-scaleOne of the most unique features of New York City’s bike share program is that it’s privately funded. In most cities, bike-share programs, like other forms of public transportation, are subsidized with taxpayer money.  But according to The Wall Street Journal, Citi Bike is in debt. Alta Bicycle Share, which operates Citi Bike as a subsidiary, needs to raise tens of millions of dollars to keep the program going according to WSJ’s off-the-record sources.  Continue reading

What Some Senate Republicans Want For New Hampshire

medicade- Looks refreshing, but always comes back to haunt you later“Those arrested include operators of home care agencies, operators of nurse staffing agencies, office workers and personal care assistants. One woman is accused of bilking taxpayers out of $75 million.”

Fraud is a major factor in Medicaid.  Expanding Medicaid will only expand the fraud.   The irony in this is that Medicaid expansion is part of ObamaCare and ObamaCare has produced an up-swell in the sorts of local clinics and home health care concerns that are most likely to engage in Medicaid Fraud.

25 charged in largest health care fraud bust in D.C. history, feds say

“This investigation has revealed that Medicaid fraud in the District of Columbia is at epidemic levels,” said U.S. Attorney Ronald Machen. “This fraud diverts precious taxpayer dollars, drives up the cost of health care, and jeopardizes the strength of a program that serves the most vulnerable members of our society.”

Continue reading

26,190 NH Residents Are Being Forced By NH Democrats Into An Inferior, Corrupt Health Care Catch Basin

Please Donate To GraniteGrok Now!I wanted to make sure you saw this important email; 26,190 New Hampshire residents are being forced into an inferior, corrupt, and wasteful health-care “alternative by New Hampshire Democrats who supported the Democrat “reforms” that kicked many of them off the plan they had and liked but could not keep as Democrats promised.

Many of these New Hampshire residents can no longer afford their own insurance because New Hampshire Democrats made it too expensive or the deductible would be so high under Obama-Care that they have been priced out by partisan legislative fiat.  And now they want to raise taxes and shuffle them off on some inferior government run program, instead of fixing the problem.

We think this was a deliberate act to create more government dependents by bribing legislators into forcing them on to the Medicaid Plantation, but we’ll need your help to keep that message alive.

Can you donate 3$ today to help us protect New Hampshire residents from being forced on to a substandard, fraud ridden Medicaid System, that will raise New Hampshire taxes?

 

H/T MoveOn.org (who sent me an email asking for 3$ to pass  the miserably inadequate, fraud-ridden, access impairing, strings-attached, will never be paid for, tied to the government, will raise our taxes, Medicaid expansion in NH.)

 

Debt, Democrats and Detroit- A Losing Combination

Since we’re approaching the next push for raising the illusory Debt Limit, and the United States is currently over $17,000,000,000,000 in debt, I thought a post about a shining exemplar of Democrat management and debt might be illuminating.  Detroit, or Detroilet as it has come to be known since the Democrats placed their considerable seats in positions of authoritative execution.

The decadent disease Democrats indoctrinate can be seen by the refuse remaining in its path, it’s similar to that from a truck bumbling its way to the dump while carrying uncovered garbage cans that vomit soiled papers, moldy plastic bottles, and moist sacks of trash along on the side of the road with every bump and rut its tires meet. It’s as if the driver were leaving some sort of trail of rubbish to serve as a post-prosperity version of bread crumbs so that he can find his way back to his fetid origins. Speaking of fetid origins, back to Detroit. Detroit is a good example of Democrat rule and the effects of unadulterated leftism, i.e., Big Unions, Big Government, Big Debt, Big Corruption, Big Lies. Continue reading

Rule#1 Entitlement Expansion Inevitably Crowds Out Other Priorities

Still thinking about expanding Medicaid In New Hampshire?  Or maybe you are just indifferent.  Well you can’t afford to be.

The bait expires and the annual stipend is not guaranteed.  In fact, given the Federal debt and deficit situation, any expectation that the Feds will not cut funding to Medicaid and other programs as debt and deficit management become critical are simply fanciful.

Paying only 10% of the expansion costs after the expansion bait-money is gone will already extract millions from the state economy.   But that will pale in comparison to the state’s assault on town and city budgets when it goes looking for money to feed this beast after the feds bail on us.

Continue reading

Obamacare Will Increase, Not Decrease, Bankruptcies

So many false claims have been made for Obamacare that I did some research about medically caused bankruptcies.  What I found indicates that Obamacare will probably INCREASE, not decrease, medically caused bankruptcies.  

“Bankruptcy facts”: “63% of filers blamed credit card bills.  50% blamed mismanagement.  37% blamed pay cuts or job loss, and 28% blamed medical bills.” And, “89% of filers still get credit card offers on a regular basis.”  (see: http://goo.gl/vH12Fw).

 In her book ”The Fragile Middle Class…”, (now Senator) Elizabeth Warren claims that two out of three bankruptcy filers have lost a job and 40% of bankruptcies result from medical crises, unemployment or divorces.  (http://goo.gl/vH12Fw

“The primary cause of personal bankruptcy is a high level of consumer debt often coupled with an unexpected insolvency event such as the loss of a job, a major medical expense not covered by insurance, divorce, or death of a spouse (Groupp, Scholz, and White, 1997, Buckley and Brinig, 1998 and Nelson, 1999.)

Continue reading