USATODAY.com News - Top Stories: "States and local governments across the USA are preparing to cash in valuable public assets for one-time windfalls that could reap tens of billions of dollars.
Illinois hopes to get at least $10 billion by selling its lottery and an additional $15 billion for leasing all or part of the 274-mile Illinois Tollway. Missouri plans to auction its student loan portfolio. Pennsylvania is considering leasing its highways, and Chicago is studying a plan to lease Midway Airport to private investors.
The deals would let governments collect billions of extra dollars without raising taxes but would reduce their future revenue.
This is what is known as penny wise, and pound foolish. Our children's work lives and payroll taxes are being dumped on like sand dunes by both state and federal governments all in the name of getting reelected today. I hate what my governments are doing to my daughter's future. They are guranteeing her work future will not be nearly as profitable or protected as mine, all other things being equal. -- David R. Remer, PoliWatch.Org.
ABC News: Politics: "Ex-NYC Mayor Rudolph Giuliani Blames 'Incompetence' for Cuts in City's Anti-Terror Funding"
Reuters: Top News: "WASHINGTON (Reuters) - The United States has been funneling more than $100,000 a month to warlords battling Islamist militia in Somalia, according to a Somalia expert who has conferred with the groups in the country.
These are such tough decisions - do we give American tax dollars to the Somali Warlords and dictators of tomorrow, or to the future leaders of al-Queda? Very tough for the Bush administration. Never occurs to Bush that perhaps we should not be funding either side? Nah! That would be too intelligent. -- David R. Remer, PoliWatch.Org.
CNN: Politics: "The government and five news organizations agreed Friday to pay former nuclear scientist Wen Ho Lee $1.6 million to settle his lawsuit that accused officials of wrongly identifying him as a suspected spy for China."
Christian Science Monitor: All Stories: "Wages are up from a year ago. But inflation is up, too.
I have been writing about this for years. Wages up each administration shows, but costs are up even higher, year after year, decade after decade. The Great Middle Class is being downsized. Just 50 years ago one blue collar wage earner could provide a middle class family living. Today it takes two. Death by a thousand cuts in real wages. -- David R. Remer, PoliWatch.Org.
Reuters: Top News: "WASHINGTON (Reuters) - The U.S. government on Thursday said it will pursue $92 million in extra damage claims against Exxon Mobil Corp. for the 1989 Exxon Valdez oil spill in Alaska, the worst in U.S. history.
Hell, if I were Exxon, I would settle today for $75 million and put an end to this issue. In these days of record profits in the billions, what is a measly 75 million. -- David R. Remer, PoliWatch.Org.
A US military veteran who lost both his arms in the war in Iraq is suing the film-maker Michael Moore for $85m (£46m), claiming that the director incorrectly portrayed him as being against the war in the controversial film Fahrenheit 9/11.
"Talk about your frivolous law suit ! -- David R. Remer, PoliWatch.Org.
CNN: World: "Read full story for latest details."
At these record levels of profit per barrel, hell yes they will keep pumping it out. They found that sweet rip-off point where supply and demand produce optimal profitability. -- David R. Remer, PoliWatch.Org.
Reuters: Top News: "WASHINGTON (Reuters) - The United States has spent about $91 billion since the mid-1980s to defend against enemy ballistic missiles, but it has no clear criteria for deciding to use the system and its operational costs remain unclear, the Government Accountability Office said on Thursday.
Look, this is not hard to understand. Politicians invest in defense industries and then vote those industries exorbident contracts of tax payer dollars which pass through as profit dividends to the investors in those corporations which happen to be, among others, virtually every politician in Wa. D.C. See, this is not rocket science, its greed and corruption, pure and simple. Who cares whether it ever works or not, that's not the issue. The issue is legally ripping off the public for their tax dollars and depositing them into politician's bank accounts. -- David R. Remer, PoliWatch.Org.
American Prospect: "Why any Democrat would back a repeal of the estate tax is a mystery."
I agree. It is selling out one of the most core principles of the Democratic Party, that those who receive more must pay more if we are to keep capital flowing freely throughout the consumer economy and manage deficits and debt. -- David R. Remer, PoliWatch.Org.
USATODAY.com News - Top Stories: "The two cities targeted in the Sept. 11, 2001 attacks will receive far fewer counterterrorism dollars this year than in 2005 ...
Users find exotic alternatives
"Yet another reason to protect the environment? -- David R. Remer, PoliWatch.Org.
USATODAY.com News - Top Stories: "Former Enron chiefs Ken Lay and Jeff Skilling were convicted Thursday of conspiracy to commit securities and wire fraud in a ...
It's a beginning! Holding executive officers accountable is the first of many steps needed to halt the corporate takeover of all facets of American life from voting to insider trading by politicians favoring corporate positive legislation. -- David R. Remer, PoliWatch.Org.
USATODAY.com News - Top Stories: "The Treasury Department said Thursday that it will stop collecting the 3% federal excise tax on long-distance calls and refund ...
Finally, a tax cut that makes sense. -- David R. Remer, PoliWatch.Org.
USATODAY.com News - Top Stories: "Drug companies fund a growing number of the studies in leading psychiatric journals, and drugs fare much better in these company-funded ...
If this isn't evidence of corruption of process, I don't what could be. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "More than a third of American drivers say they are considering getting rid of their current vehicle in favor of something more fuel efficient, according to a national survey by Consumer Reports magazine."
Washington Post: Today's Highlights: "Mortgage giant reaches agreement to pay about $400M in penalties related to accounting scandal."
Won't this amount to just punishing the public with higher interest rates and fees for the actions of Fannie Mae's leadership? When is America going to start punishing corporate criminals instead of the the public for wrong doing? -- David R. Remer, PoliWatch.Org.
Christian Science Monitor: All Stories: "The party's budget hawks halted $500 million in military projects in bid for fiscal restraint.
New York Times: International News: "A new U.S. antimissile site in Europe would be designed to stop attacks by Iran against the United States and its European allies."
Who pays for it? And when did Iran obtain inter-continental ballistic weapons? News to me. -- David R. Remer, PoliWatch.Org.
USATODAY.com News - Top Stories: "The New York Stock Exchange on Monday proposed a merger with Euronext to create the world's biggest trading platform, valued ...
This could open the door for some really huge world wide scams of investors. Instead of millions, as in the past, the potential now could be billions. -- David R. Remer, PoliWatch.Org.
BBC: World: "Nasa moves space shuttle Discovery to its launch pad as part of preparations for a lift off scheduled for July."
What a money pit this Shuttle program has been. I will be be glad for my daughter's future taxes when it is retired in 2010. What a waste of hard earned money. We did get some great science out of the missions that made it though. But the price was far, far too high. Perhaps we should outsource our space science to other nations who believe simplicity is the most cost effective - and have proven it true. -- David R. Remer, PoliWatch.Org.
Reuters: Top News: "WASHINGTON (Reuters) - A top Democratic lawmaker vowed to slash some of the $1.7 billion in aid to Egypt approved by a House panel on Friday as part of a foreign aid bill as Congress voiced growing irritation over Cairo's democratic setbacks."
Do I read this right. Democrats are opposing sending our tax dollars to the Middle East but Republicans insist we can do without? Could the fiscal conservative party really be the Democrats? Starting to look that way. Democrats have been Pay as You Go since the mid 1990's. If only Republicans had followed their lead our national debt would not be on track for 11 Trillion when Bush leaves office. -- David R. Remer, PoliWatch.Org.
ABC News: Politics: "Americans Looking for Answers Blame Big Oil"
Americans should be looking to Congress as the bad guys. Congress, especially Republicans are the ones responsible for the oil cartels in America, tax subsidies to them, and wink and nod that higher prices are OK because they lessen our dependence on oil in the future. Just ignore that we Congress people are heavy investors. (Quick, close that curtain behind the little guy in the booth running all those controls). Welcome to OZ ! -- David R. Remer, PoliWatch.Org.
CBS News: "President Bush has signed a $70 billion tax-cut package that Republicans hope will pay political dividends in the fall elections. Democrats complain that the measure favors the wealthy, but the president says it fuels the overall economy."
This is nuts! Stock market just dropped 400 points because of fears the Fed is going to have to raise interest rates to slow the economy and inflation, while the President is still cutting taxes as if the recession had just begun, in stead of having been over for 3 years now. Somebody, please, save us from any more Bushes. -- David R. Remer, PoliWatch.Org.
USATODAY.com News - Top Stories: "As hundreds of veterans looked on solemnly, Navy divers blew holes in a retired aircraft carrier and sent the 888-foot USS Oriskany ...
She should have been worth a few million in steel and copper salvage. Why didn't our government sell the salvage to help pay for the tax cuts they just passed? Vote Out Incumbents for the sake of our future. -- David R. Remer, PoliWatch.Org.
American Prospect: "Like the Bush administrations previous tax cuts, the latest cuts will largely benefit those who need it least."
CNN Money: Economy: "An increasing number of Americans agree they are not saving enough for retirement, according to a new poll, but the firm that commissioned the survey says the results could herald a change in future saving habits."
CNN Money: Economy: "As home prices and interest rates keep rising, lenders have figured out a way to keep the dream alive for millions of people who want to own their own home. It's called the 50-year mortgage."
I call it lifetime servitude to the creditors. Consider what you could have done with the interest paid on a 50 year mortgage. This is a scam to milk the poorest among us of every penny possible. -- David R. Remer, PoliWatch.Org.
BBC: World: "India is to carry instruments for US space agency Nasa on its first unmanned mission to the Moon in early 2008."
Can we afford this at this time? I don't think so! -- David R. Remer, PoliWatch.Org.
CBS News: "Even by odd bedfellows standards, this was a jaw dropper. The conservative media mogul will host a fundraiser for the liberal New York senator, the Financial Times reports."
Christian Science Monitor: All Stories: "Experts are taking a hard look at the assumptions in the Social Security Trust Fund's annual report.
It's about damn time. The assumption that population will not grow into the baby boom retirement years was not born out by present or historical data. -- David R. Remer, PoliWatch.Org.
PORKBUSTERS UPDATE: Porkbusters gets a mention in this Time magazine profile of Sen. Tom Coburn's anti-pork efforts:
While they may not endorse his views on social issues, Coburn's allies on his efforts to cut spending are perhaps the two most popular men in the Senate: Illinois Democrat Barack Obama and Arizona Republican John McCain. Before Coburn arrived in 2005, McCain was the chamber's most vocal basher of wasteful spending, but he has eagerly ceded that to Coburn, while working with the Oklahoma Senator to strategize on how to cut earmarks from this month's war spending bill. Obama, much to the left of Coburn, is an unlikely friend, but the Senate's most famous freshman said his and Coburn's wives became fast friends during the orientation for new senators and their families, and Obama has vocally supported Coburn's spending efforts. "He's fearless in his approach," says Obama. Coburn has also found support from groups like Citizens Against Government Waste and the American Conservative Union, as well as a blog called porkbusters, to which his office is often feeding information about egregious earmarks, in the hopes of stirring opposition in conservative blogs that could embarrass his colleagues into limiting their earmarks.
Sadly, many of his colleagues seem immune to embarrassment, which is why the GOP is in big trouble.
PORKBUSTERS UPDATE: As Capt. Ed notes, it was a bad day for PorkBusters yesterday:
The projects that got past Senate pork hawks like Tom Coburn were a $200 million bailout of Northrup Grumman for indemnifyng the defense contractor against losses that its insurers refuse to cover. Coburn faced stiff opposition from Trent Lott, the man who apparently wants to make a career out of defying voters on earmarks, and Thad Cochran. Both Republicans insisted that the government needed to replace the loss, even though Northrup made a 7.1% operating margin in 2005, up from 6.7% in 2004 and 5.6% in 2003. That represent $2.4 billion in profit, an increase from $2.3B in 2004 and $1.9B in 2003.
Why does a corporation that made $2.4 billion in profit need another $200 million from American taxpayers to cover a loss they've absorbed in that same year?
Rather than focus resources on the truly needy and on real emergencies, Lott and Cochran have manipulated the relief bill to stick money into Northrup's pockets. Perhaps folks from Lott's home state of Mississippi should ask themselves why Lott seems more concerned about the travails of a corporation that had its best year ever than those who had their entire lives wiped out by Katrina. No wonder Lott proclaimed himself "damned tired" of constituents who question his pork-barrel activities -- who'd want to keep explaining this? . . .
Congress has a rather narrow view of profit in a free-market society. When ExxonMobil makes 10.7% profit, they decry the "windfall profit" of a corporation. When Northrup Grumman makes 7.1%, they qualify for a bailout.
It's as if there's nothing going on but graft and shakedowns.
CNN Money: Economy: "With gas prices roaring past $3 a gallon and consumer fury rising even faster, Congress and the White House are engaged in a Kabuki-like ritual: pointing fingers at each other over who's to blame, while furiously attacking Big Oil for reaping gargantuan profits - as drivers get hosed at the pump."
CBS News: "Nearly everything's an hour drive from Beeville, Texas, and the spike in gas prices is hitting residents hard. The county board responded by calling for residents to boycott gas from Exxon, but some residents are doubting the wisdom of the move."
I have boycotted Exxon since Valdez spilled its guts in Alaska. Its encouraging to see others finally climbing on the bandwagon, even if the reasons are different. -- David R. Remer, PoliWatch.Org.
Christian Science Monitor: All Stories: "Companies are becoming more responsive to shareholder concerns on issues such as pollution and labor practices.
Now this really is news. I have not heard of this going on before. Outstanding! -- David R. Remer, PoliWatch.Org.
Christian Science Monitor: All Stories: "They say the US should host the next particle collider to strengthen the field of high-energy physics domestically.
Yeah, just hit up Old Money Bags, Uncle Sam, I hear he has his own printing presses for the stuff. -- David R. Remer, PoliWatch.Org.
CBS News: CBS Evening News: "With gasoline prices through the roof, skyrocketing salaries for oil company executives have outraged some stockholders. CBS News correspondent Randall Pinkston reports on one oil-company stockholder who is fighting to limit executive pay."
USATODAY.com News - Top Stories: "Chevron, the No. 2 U.S. oil company, Friday posted a sharp rise in quarterly profit, boosted by a strong spurt in crude oil prices.
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CNN Money: Economy: "Read full story for latest details."
You do realize that this ethanol season changeover was anticipated by the oil companies and farmers, right? Leaving one conclusion to be drawn, they started late and created artificial shortages to jack up their profits and rip you and me off. I smell Dick Cheney's hand in this somewhere. -- David R. Remer, PoliWatch.Org.
CBS News: "A CBS News investigation reveals that witness intimidation affects or derails up to 30 percent of all cases involving shootings. In homicide cases, the number reaches 90 percent. Baltimore is considered the "epicenter" of this epidemic."
In the land without law and order, what do you expect? A phone threat to rape and kill your daughter if you testify against a suspect is good for a lot of intimidation, and without proof the phone call ever took place, the victim is helpless to do anything but fear the suspect. Our government turns a blind eye to illegal immigrants for decades. Bush turns a blind eye to the Geneva Conventions and FISA laws prohibiting spying on Americans without a warrant. Police all over the country turn a blind eye to speeders. The war on drugs has failed utterly in every way save costing tax payers a trillion dollars with no success. We walk around in a fog of belief that our nation is based on the rule of law. But, in cold hard reality, we live in a land where power, money, and intimidation get what they want often enough to motivate whole new generations to jump on the bandwagon. Welcome to the real America. -- David R. Remer, PoliWatch.Org.
CNN: Politics: "Every American taxpayer would get a $100 rebate check to offset the pain of higher pump prices for gasoline, under an amendment Senate Republicans hope to bring to a vote Thursday."
Once again they intend to indebt our nation even further in order to buy votes from the citizens in November's elections. This is precisely how you double the national debt in 8 years from 5 to 11 trillion dollars. -- David R. Remer, PoliWatch.Org.
USATODAY.com News - Top Stories: "ExxonMobil, the world's largest publicly traded oil company, reported Thursday that quarterly profit rose 7%,
CBS News: "Amid consumer outcry in the U.S. about soaring gas prices, Exxon Mobil Corp., the world's largest oil company, said that higher oil prices drove first-quarter profits up. This report comes as lawmakers try to tackle the election-year price spike."
Make no mistake, campaign contributions to lawmakers will be up to. This is the bribery corruption that is making our nation's future bleaker by the year. -- David R. Remer, PoliWatch.Org.
CNN Money: Economy: "Twenty cents here, 30 cents there, and pretty soon you're talking about real money - $10,000 to be exact."
Washington Post: Today's Highlights: "President has asked Energy and Justice departments to open inquiries into whether the price of gasoline has been illegally manipulated."
And by the time they are done, the public will have been gouged quite nicely adding to the Bush family oil profits, thank you. -- David R. Remer, PoliWatch.Org.
USATODAY.com News - Top Stories: "Major oil companies begin reporting robust first-quarter profits today in a string of earnings announcements likely to cheer ...
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CNN Money: Economy: "This spring in Washington, D.C., many lobbying shops are contemplating doing something they haven't done in years: hiring Democrats. That, in turn, may spell the beginning of the end of the decade-long effort to turn America's business lobby into a wholly owned wing of the GOP."
Lobbying should be speaking to a representative. But, this buying representative's ears has got to stop, and the only way that will happen is if voters vote against incumbents from both sides, telling them in no uncertain terms, it is the voters they should be listening to, not lobbyists money. -- David R. Remer, PoliWatch.Org.
AP Politics: "WASHINGTON - A coalition of breakaway unions is launching a national campaign that highlights the gulf between pay and benefits for executives and middle-class workers with television ads and a drive to organize millions in service industries."
This movement could grow some very long legs. -- David R. Remer, PoliWatch.Org.
Boston Globe: Politics News -- Few voters know Sean Healey or have even seen him, and his name will not appear on the November ballot. But Healey looms as a major factor in this year's campaign for governor. With his enormous wealth ready to help the candidacy of his wife, he is the Republican campaign's secret weapon.
Independent: World News: "Nigeria became the first African country to be free of its debt to the Paris Club of rich nations, following the transfer yesterday of $4.5bn (£2.5bn) under a debt-relief deal that should clear the way for billions to be spent on reducing poverty."
Now this is truly wonderful news! Alright! -- David R. Remer, PoliWatch.Org.
BBC: World: "Brazil's president opens a vast new oil rig which will enable the country to be self-sufficient in oil production."
Must be nice! -- David R. Remer, PoliWatch.Org.
AP Politics: "WASHINGTON - Five Republicans are hoping for a repeat of some Tennessee magic."
Reuters: Top News: " NEW YORK (Reuters) - Corporate earnings news will likely determine the course of the stock market next week as investors scan profit outlooks for enough strength to propel the Dow industrials the few hundred more points the index needs for a record high.
CNN Money: Economy: "No, not the usual gang of high-priced oil lobbyists, dubious foreign (and domestic) despots, Texas politicians, and so on. I'm talking about folks who are in favor of promoting the use of alternative fuels -- specifically ethanol, the alterna-fuel that's made from corn and, one day, from other plants."
Having set record profits gouging customers of oil, they see the same future in area of alternative fuels. -- David R. Remer, PoliWatch.Org.
Washington Post: Today's Highlights: "Sens. Lott and Cochran challenged after including project to relocate just-built CSX line in war bill."
And the pork barrel spending knows no bounds or limits. And stupid Americans keep voting these people back into office no matter how bad things get. What does it take to get Americans to accept their representative is the problem with federal government? -- David R. Remer, PoliWatch.Org.
Washington Post: Today's Highlights: "Whistle-blowers contend company knew of faulty parts, but officials say there is no safety issue."
CBS News: "President Bush reported income of $735,180 last year, but that seemed paltry compared to the nearly $9 million Vice President Dick Cheney earned in 2005, according to returns released by the White House."
ABC News: Politics: "President Bush and His Wife Pay $187,768 in Taxes for 2005, Return Shows"
He owes this country a lot more than that! -- David R. Remer, PoliWatch.Org.
USATODAY.com News - Top Stories: "The U.S. military has spent just 40% of the $7 billion appropriated in 2005 for the training of Iraqi and Afghanistan security ... Which begs the question, why are they asking for more in 2006 and 2007? Where is the money going? -- David R. Remer, PoliWatch.Org.
Slate Magazine: "Everyone knows the AMT is incredibly unfair. So why won't the president and Congress fix it?"
PORKBUSTERS UPDATE: A scathing editorial in the Wall Street Journal:
Unlike the collapse of the immigration bill, this fiasco can't be blamed on Senate Democrats. This one is all about Republicans and their refusal to give up their power to spend money at will and pass out "earmarks" like a bartender offering drinks on the house. The chief culprits are the House Appropriators, led by Committee Chairman Jerry Lewis of California and his 13 subcommittee chairmen known as "cardinals." If Republicans lose the House--and they are well on their way--Mr. Lewis deserves the moniker of the minority maker. . . .
At the current pace, a Democratic majority in Congress would be preferable, if only for reasons of truth in advertising.
Ouch.
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