July 30, 2013 § 1 Comment
The U.S. national debt for the past 70 days has been stuck at exactly $16,699,396,000,000, CNSNews.com reports, citing the Daily Treasury Statement for July 26.“That is approximately $25 million below the legal limit of $16,699,421,095,673.60 that Congress has imposed on the debt,” the report notes.Fed debt subject to the legal limits imposed by Congress first hit the $16.7B mark on May 17. The national debt has for every business day since then been exactly $16,699,396,000,000.00.“If the debt had increased by even $30 million at any time during those 70 days, it would have exceeded the statutory limit,” the report conceded.However, according to the Treasury, the debt hasn’t budged an inch. It has been stuck at exactly $16,699,396,000,000:
How bizarre is that?
Can you imagine running your household and determining that you spent EXACTLY what you earned — down to the dollar — for nearly 3 months?
Or is it possible that the G is playing games with the numbers?
July 28, 2013 § Leave a comment
The top 10 biggest U.S. cities on the brink of pension bankruptcy.
#1 Philadelphia – Unfunded liability of $9 billion, $16,696 per household, only 1 year before the pension accounts are empty
#2 Chicago – Unfunded liability of $44.8 billion, $41.966 per household, money runs out in 4 years
#3 Boston – Unfunded liability of $7.5 billion, $30,901 per household, money runs out in 4 years
#4 Cincinnati – Unfunded liability of $2 billion, $15,681 per household, money runs out in 5 years
#5 St Paul – Unfunded liability of $1.4 billion, $13,686 per household, money runs out in 5 years
#6 Jacksonville – Unfunded liability of $4 billion, $12,944 per household, money runs out in 5 years
#7 New York City – Unfunded liability of $122 billion, $38,866 per household, money runs out in 6 years
#8 Baltimore – Unfunded liability of $3.7 billion, $15, 420 per household, money runs out in 7 years
#9 Detroit – Unfunded liability of $6.4 billion, $18,643 per household, money runs out in 8 years
#10 Fort Worth – Unfunded liability of $2 billion, $7,212 per household, money runs out in 8 years
via Business Insider.
This list was put together using data from 2010-12. So Detroit is on the list… and not at the top. So how was Detroit the first to go? Because the tax base fled in mass. The constant media attention to Detroit didn’t help either. But kudos to them for filing early and getting it out of the way. The longer you wait the worse it is for everybody.
Chicago sadly has the highest debt per capita. The debt per household is approaching the average annual household income. Who’s going to pay that off? How many will participate in paying? As Obama would say, will be make sure that everyone pays their fair share?
July 25, 2013 § Leave a comment
The U.S. government has demanded that major Internet companies divulge users’ stored passwords, according to two industry sources familiar with these orders, which represent an escalation in surveillance techniques that has not previously been disclosed.
If the government is able to determine a person’s password, which is typically stored in encrypted form, the credential could be used to log in to an account to peruse confidential correspondence or even impersonate the user. Obtaining it also would aid in deciphering encrypted devices in situations where passwords are reused. …
Some of the government orders demand not only a user’s password but also the encryption algorithm and the so-called salt, according to a person familiar with the requests. A salt is a random string of letters or numbers used to make it more difficult to reverse the encryption process and determine the original password. Other orders demand the secret question codes often associated with user accounts.
via CNET News.
Well this sure has gotten ridiculous.
July 24, 2013 § Leave a comment
Food stamps are paying for trans-Atlantic takeout — with New Yorkers using taxpayer-funded benefits to ship food to relatives in Jamaica, Haiti and the Dominican Republic.
Welfare recipients are buying groceries with their Electronic Benefit Transfer (EBT) cards and packing them in giant barrels for the trip overseas, The Post found.
The practice is so common that hundreds of 45- to 55-gallon cardboard and plastic barrels line the walls of supermarkets in almost every Caribbean corner of the city.
The feds say the moveable feasts go against the intent of the $86 billion welfare program for impoverished Americans.
Can we now admit that the system is broken?
Why is this not national news? When are the taxpayers going to wake up and start demanding better?
July 22, 2013 § Leave a comment
The Obama appointee implicated in congressional testimony in the IRS targeting scandal met with President Obama in the White House two days before offering his colleagues a new set of advice on how to scrutinize tea party and conservative groups applying for tax-exempt status.
IRS chief counsel William Wilkins, who was named in House Oversight testimony by retiring IRS agent Carter Hull as one of his supervisors in the improper targeting of conservative groups, met with Obama in the Roosevelt Room of the White House on April 23, 2012. Wilkins’ boss, then-IRS commissioner Douglas Shulman, met with Obama on April 24, 2012, according to White House visitor logs.
On April 25, 2012, Wilkins sent Hull and fellow Washington-based IRS official Lois Lerner “additional comments on the draft guidance” for approving or denying tea party tax-exempt applications, according to the IRS’ inspector general’s report.
via The Daily Caller.
Really! Where’s the rest of the media on this?!
Someone should be going to jail over this. It’s simply not going to go away. When a government uses its power to intimidate and harass its opponents that is an abuse of power. It’s tyranny and cannot be tolerated.
That the MSM has not carried this is an affront to every American.
July 22, 2013 § Leave a comment
A $43 million busway built to whisk conventioneers between downtown hotels and McCormick Place has turned into “the mayor’s road” and should be opened to taxicabs in exchange for a surcharge, Ald. Robert Fioretti, 2nd said Monday.
Fioretti suggested turning the 2.5-mile busway into a money-maker after Chicago Sun-Times columnist Neil Steinberg lifted the veil on a shortcut politicians and contractors enjoy, but everyday Chicagoans know little or nothing about. …
“I was told by some of the people in Planning that it was a good idea. But then, they came back and said, `No. It’s the mayor’s road.’ That’s what I was hit with,” [Fioretti] said without identifying the city planners by name.
Fioretti said when he argued that Chicago could not afford to maintain a “clout road” for VIP politicians, he was told there were “security reasons” for keeping the road closed to other vehicles. But he was never told precisely what those “security reasons” were.
In Monday’s column, [Chicago Sun-Times columists] Steinberg talked about his ride with County Board President Toni Preckwinkle on the road Mayor Rahm Emanuel calls the “Bat Cave” and Preckwinkle calls the “Magic Road.”
It is accessed only by those fortunate enough to be issued a plastic card that opens a steel gate to the busway that runs along Illinois Central right of way parallel to Michigan Avenue.
Built in 2002 by the Metropolitan Pier and Exposition Authority, the 2.5-mile roadway was billed as a speedy shortcut for conventioneers staying in downtown hotels and attending McCormick Place conventions.
As Steinberg noted, a trip that takes 25 minutes in traffic up Lake Shore Drive can be completed in just eight minutes.
via Chicago Sun-Times.
I’ve known about this “road” since forever as I used to walk by the entrance regularly. There are a few “secret” entrances in the South Loop where the gates are almost always up. I’m surprised folks on bikes are not on this thing all the time.
Regardless, nice to see the mayor serving no one but himself.