While the
Congressional Budget Office reported that
President Barack Obama’s healthcare bill
would lower federal deficits by $138
billion, the budget office “is required to
take written legislation at face value and
not second-guess the plausibility of what
it is handed,” says former CBO director
Douglas Holtz-Eakin.
“So fantasy in, fantasy out.”
Strip out all the gimmicks and budgetary
games and rework the calculus, a wholly
different picture emerges .....
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Will you
and your family put off a vacation this
year because you can't afford it? Too bad,
because you have paid for some terrific
trips -- for government bureaucrats.
The Washington Times reports that last year
$13 billion in tax dollars was spent to
pamper "public servants" on trips that
double as vacation junkets.
The
Securities and Exchange Commission, for
example, frequently sent employees
overseas on first- or business-class
airplane tickets .....
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By Dan Ferris in the S&A
Digest:
Amy
Friend, the chief counsel to Senate Banking
Committee Chairman Christopher Dodd, At the
height of the crisis, when the government
was making plans to bail out AIG and other
large financial institutions, Friend bought
$1,000 to $15,000 stakes in Morgan Stanley,
Wells Fargo, AIG, Fannie Mae, Freddie Mac,
Federal Home Loan Bank bonds, and Fannie
Mae debt.
Friend bought FHLB and Fannie Mae debt in
June and July 2008, just days before
President Bush signed a bill that gave the
government housing finance agencies big
cash injections from the Treasury. Friend
is still in the game today, helping to
draft Dodd's sweeping overhaul of the
financial regulatory system.
If you or I did what Friend is doing, we'd
wind up like Martha Stewart. But for her,
Senate rules say it's perfectly legal. No
SEC investigation. No insider trading
violation.
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