Tag Archives: Washington DC

Morning Bell: Dependence on Government Highest in History

When John F. Kennedy was President, just over a quarter of federal spending went to fund

WASHINGTON - AUGUST 26:  A speech by John F. K...

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programs paying for some 21.7 million Americans to be dependent on Uncle Sam. But as high as that spending and dependence on the federal government was then, it has exploded today, with one in five Americans — more than 67.3 million — depending on Washington for assistance.

The Heritage Foundation’s 2012 Index of Dependence on Government shows an alarming trend under the Obama Administration of a level of dependence on our government that has never been seen before. Today, a full 70 percent of the federal government’s budget goes to pay for housing, food, income, student aid, or other assistance, with recipients ranging from college students to retirees to welfare beneficiaries. Heritage’s Patrick Tyrrell writes that other findings from the study show:  read more

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Under Obamanomics, Government Workers Win, You Lose

LaPlace, La., October 8, 2005 - Dan Waldman (l...

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We used to call them public servants, now they are our masters

Today the House of Representatives is expected to approve yet another bailout for those states that have proved incapable of controlling their spending on government worker pay, benefits and pensions. The $26.1 billion price tag will be funded in part by $11 billion in tax hikes on U.S. companies that compete internationally. From his trillion dollar economic stimulus to his $3 trillion tax hike it has become clear that President Barack Obama views the private sector the same way the Huns viewed a city – as something to be sacked and plundered for the benefit of public sector workers.

The effect of President Obama’s policies is becoming clear. The Wall Street Journal reports that personal incomes fell across the U.S. last year except in areas with a high concentration of federal government jobs. Washington D.C. was one of just three metro areas that saw both net earnings and personal income rise. And those gains were due entirely to the growth of the federal government; private sector compensation in the Washington metropolitan area actually fell. Nationally, private wages fell six percent in 2009 while government pay rose 2.6 percent. And USA Today reports that federal employees’ average compensation has grown to more than double what private sector workers earn. read more

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Obama Administration Denies Public Access to Fannie and Freddie Documents

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Judicial Watch has been digging hard into the scandals behind the collapse of Fannie Mae and Freddie Mac and their role in helping trigger the global financial crisis. A key component of this investigation involves the role political corruption played in the failure of adequate congressional oversight and the catastrophic collapse of these “government sponsored entities” in 2008. That’s why we filed a Freedom of Information Act (FOIA) lawsuit against the Obama administration to get hold of documents related to Fannie and Freddie’s campaign contributions over the last several election cycles.

We figure since American taxpayers are on the hook for trillions of dollars, potentially including $400 billion alone for Fannie and Freddie, we deserve to know how and why this financial collapse occurred and who in Washington, D.C. is responsible.

Unfortunately the Obama administration disagrees.

Just last month the Federal Housing Finance Agency (FHFA), the agency responsible for Fannie Mae and Freddie Mac, responded to our FOIA lawsuit by telling us that all of the documents we seek are not “FOIA-able”!

Here’s the exact language the Obama agency used in its recent court filing: “…Any records created by or held in the custody of the Enterprises reflecting their political campaign contributions or policies, stipulations and requirements concerning campaign contributions necessarily are private corporate documents. They are not ‘agency records’ subject to disclosure under FOIA.”

So there you have it. You and I are paying the tab for the collapse of Fannie and Freddie, but we are not allowed to ask any questions about why it happened. The Obama administration is saying, in effect, “None of your business.”  read more

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In D.C., more evidence that commercial real estate headed for foreclosure crisis

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A mortgage crisis like the one that has devastated homeowners is enveloping the nation’s office and retail buildings, and few places are likely to be hit as hard as Washington.

The foreclosure wave is likely to swamp many smaller community banks across the country, and many well-known properties, including Washington’s Mayflower Hotel and the Boulevard at the Capital Centre in Largo, are at risk, industry analysts say.

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