Pell Grants: Billions for Schools, but No Graduating Students

Pell Grants were designed in a way to leave us in the dark about whether the money was being spent wisely. I recently posted about how student welfare for graduate students—welfare in the form of loans that no one is going to repay other than the taxpayer—is really a form of corporate welfare for Universities. But here is a much bigger example of how the government has been scamming us for years and is only just now being exposed. NBC News reports, “Pell Grants: Billions Go to Students Who Read more […]

Broken Window Fallacy and Obamacare Jobs

The broken window fallacy lies in ignoring hidden damage when counting visible success. The broken window fallacy is everywhere in economics today. It basically claims that sophisticated economic analysis will see economic good news in economic bad news. One of the older and still-prevalent instances of the broken window fallacy is the claim that World War II ended the Depression. The idea is that all that spending “stimulated” the economy so that businesses grew and thrived from World Read more […]

Gruber Admitted Obamacare Increased Costs: As Stimulus

Gruber Argued It Was OK If Obamacare increased costs, because it would create more jobs that way. While Gruber was lying elitist scum, he also sometimes told the truth. For example, as this Daily Caller story points out, he admitted openly that Obamacare had no means to cut, constrain, or otherwise reduce costs. Gruber said that Obamacare had no cost controls in it and would not be affordable in an October 2009 policy brief, presented here exclusively by TheDC. At the time, Gruber had already Read more […]

Cash for Clunkers Hurt the Auto Industry

Cash for Clunkers was presented as an easy way for the government to help the auto industry. But it didn’t. The government is so big and powerful it should be able to help an industry. Even as a conservative, I don’t disagree with that statement. I don’t approve of it because it can only help an industry by hurting another area of society. I don’t believe it is right for the government to sacrifice some for the sake of others. But I don’t deny that the government can, in theory, help Read more […]

Chinese Mountain-leveling Cities Show the Communists are Super-Keynsians!

It is now a proverb that Keynes believed you could stimulate the economy by paying someone to dig a hole and paying someone else to fill it up again. That should sound strange to many people, though when they’ve heard Paul Krugman extol a fake alien invasion or a hurricane as keys to helping the economy, Keynes seems relatively restrained. Well, the Chinese ruling class has apparently replaced Karl Marx with John Maynard Keynes. The Chinese government is almost literally following the cliché Read more […]

John Boehner Castigates Barack Obama On The Five-Year Anniversary Of “Stimulus”

From his press office: House Speaker John Boehner (R-OH) today issued the following statement marking the five-year anniversary of Barack Obama’s “stimulus” plan being signed into law: “The ‘stimulus’ has turned out to be a classic case of big promises and big spending with little results.  Five years and hundreds of billions of dollars later, millions of families are still asking ‘where are the jobs?’  More Americans are living at or below the poverty line.  Median household Read more […]

A Plea For Corporate Welfare Posed As Concern For Poor

It never occurs to Liberals (or many Republicans) that rather than forcing money into the hands of consumers, the market is supposed to force prices lower for them. So, instead of being happy as prices fall, they are always wringing their hands when businesses that can’t compete begin to suffer. Thus, Huffington Post (from Quartz) on Family Dollar, which is reporting lower than expected profits. As poor Americans come under more and more pressure, more and more of Family Dollar’s revenue Read more […]

Funding Business By Putting Our Children In Hock

Welfare—i.e., government stealing from some to give to others—provides the lifeblood of politics: campaign donations and votes. The large numbers go to the donors, and the crumbs from the table go to the faithful, but mindless voting blocs. From McClatchy DC: The railroad industry brags in its national publicity campaign that it spends billions of dollars improving its infrastructure “so taxpayers don’t have to.” But the ads don’t tell everything. The nation’s freight rail network Read more […]

Obama’s Plan Has More Spending Than Spending Cuts

John Boehner said that he was “flabbergasted” when Treasury Secretary Tim Geithner presented him the President’s budget deal that actually included more spending than spending cuts. Boehner told Chris Wallace on Fox News:  “The president is asking for $1.6 trillion worth of new revenue [higher taxes on the wealthy] over 10 years, twice as much as he has been asking for in public. He has stimulus spending in here that exceeded the amount of new cuts that he was willing to consider. It was Read more […]

Obamacare Is Just Another Solyndra

When Conservatives think of “socialized medicine” they tend of think of wishful thinking, good intentions gone bad. I’ve been told more than once that if you’re young and don’t find socialism attractive you don’t have a heart, but if you’re old and find socialism attractive you don’t have a head. But what we need to realize is that if you are old and want socialism it is probably because you don’t have a heart but do have a head for figuring out how to buy friends and influence Read more […]

The Obama Economy Starts to Show Again

Thanks to massive QE to infinity on the part of Ben Bernanke and the Federal Reserve (i.e. virtual money printing), the Stock Market was propped up a bit up until the election. Almost certainly many were hoping for a Romney win and thought he would be better for the economy. But now that the election is over, the truth is coming out. The euphoria is gone. The election is over and we are no longer distracted from looking at how bad the economy still is. Reuters just reported last night that Energizer Read more […]

Obama Getting Agitated by Romney/Ryan Tactics

In an interview with the Associated Press, President Obama has accused Mitt Romney of holding “extreme positions” on the economy. In typical socialistic rhetoric, he made the point that Romney’s solutions to American economic woes will only hurt everyone but the “very rich.” Obama claimed that: Romney lacks serious ideas, refuses to “own up” to the responsibilities of what it takes to be president, and deals in factually dishonest arguments that could soon haunt him in face-to-face debates. I Read more […]