It is currently being projected that the U.S. government will have spent $23 trillion by the time this current economic downturn ends, and the economy begins to expand again.
At what point is the solution worse than the actual problem that it's trying to fix?
$23 trillion is approximately double the entire gross domestic product (GDP) of the United States. That doesn't work. The government needs to start scaling stuff back and not be left holding the bag when it's time for the bailed out companies and corporations to start paying their loans back to the taxpayers.
It should also be written into bankruptcy law that if a company that has government bailout money is liquidated, the United States Department of the Treasury gets the proceeds first, to pay the government back for the bailout.
Thursday, July 23, 2009
Tuesday, July 21, 2009
Congress "Retires" F-22 Raptor: NOT
The press is reporting that Congress has officially "retired" the F-22 Raptor, which was to replace several older models of strike fighters operated by the Air Force and Navy.
No they didn't.
They decided to end the production of the F-22, but the 200 that have already been built will remain in service for 10-20 years before the model is officially "retired" by the military, not by Congress.
Congress abandoned the F-22 Raptor in favor of the newer and cheaper F-35 Lightning II, which will be operated by the U.S. military as the "Joint Strike Fighter." They've just placed an order for more F-35s even as they cut production of the F-22.
If this new fighter can do the workload of the F-22 for less cost, then this is a good decision. In it's heyday, the now-retired F-14 Tomcat cost $30 million per copy; the F-22 cost $99 million per copy, which made many in Congress choke on the cost.
For the billions they put into the F-22, the military should use the F-22 Raptor for a while to justify the cost that was put into R&D and procurement of the F-22.
That's a financially sound decision too.
No they didn't.
They decided to end the production of the F-22, but the 200 that have already been built will remain in service for 10-20 years before the model is officially "retired" by the military, not by Congress.
Congress abandoned the F-22 Raptor in favor of the newer and cheaper F-35 Lightning II, which will be operated by the U.S. military as the "Joint Strike Fighter." They've just placed an order for more F-35s even as they cut production of the F-22.
If this new fighter can do the workload of the F-22 for less cost, then this is a good decision. In it's heyday, the now-retired F-14 Tomcat cost $30 million per copy; the F-22 cost $99 million per copy, which made many in Congress choke on the cost.
For the billions they put into the F-22, the military should use the F-22 Raptor for a while to justify the cost that was put into R&D and procurement of the F-22.
That's a financially sound decision too.
Thursday, July 16, 2009
Obama's Health Care Math is Fuzzy: Taxing One Group to Pay for Everyone Else Won't Even Come Close to Making Obama's Program Work
President Obama's health care plan is nothing short of full-scale LUNACY.
Taxing the rich to pay for his entire health care proposal won't work: he's talking about insuring 46 million people. There aren't enough American millionaires in existence to come up with the cash necessary to support this plan, which is still in infantile stage. And if they do have enough money to pay for all of this, will they the following year? And the year after that? And the year after that?
What has been left unsaid is how much the government will have to pony up to cover the shortfall in Obama's math.
There is a solution out there, but this isn't it. And the sooner they change their tune, the better.
Taxing the rich to pay for his entire health care proposal won't work: he's talking about insuring 46 million people. There aren't enough American millionaires in existence to come up with the cash necessary to support this plan, which is still in infantile stage. And if they do have enough money to pay for all of this, will they the following year? And the year after that? And the year after that?
What has been left unsaid is how much the government will have to pony up to cover the shortfall in Obama's math.
There is a solution out there, but this isn't it. And the sooner they change their tune, the better.
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