The $1.3 Billion Stupidity Penalty We Paid for Having an Unnecessary Debt Ceiling

By: Tuesday July 24, 2012 10:00 am

Given that the United States debt is denominated in US dollars and our government can technically print as many US dollars as it needs, we should never default on our debt. The only way we could truly default would be if Congress, in an incredible act of stupidity, decided to vote to default and overrode a Presidential veto. Traditionally that seemed so obviously idiotic that markets had no fear it would happen. But that all changed last year when Republicans decided to hold the vote to raise the debt ceiling hostage to their budget reduction demands.

 

Federal Crop Insurance Wastes a Billion Dollars on Corporate Welfare

By: Thursday April 12, 2012 1:45 pm

The Government Accountability Office took a look at the federal government crop insurance program and the result isn’t pretty. We effectively waste $1 billion a year providing corporate welfare to very large agribusiness operations.

GAO Examines Individual Mandate Alternatives – Well, Some of Them

By: Monday March 28, 2011 2:20 pm

For some reason, the GAO didn’t directly make reference to the most effective alternatives that would do an even better job than the individual mandate at decreasing the number of uninsured–single payer or a basic public plan that would enroll the uninsured by default.

GAO: Treasury Has Failed to Make Needed Improvements to HAMP

By: Wednesday March 2, 2011 7:15 pm

The Home Affordable Modification Program (HAMP) has basically been a disaster since its start, and it remains one to this day. Roughly nine months ago, the Government Accountability Office examined the program, found many problems, and made several recommendations to improve it. Since then, the Treasury department has failed to make most of the needed changes.

GAO: Interior’s Management of Oil and Gas Resources at High Risk for Waste, Fraud, Abuse

By: Wednesday February 16, 2011 1:25 pm

During this recent debate about the deficit and cutting programs that help regular people, it is important to keep in mind that not only are the oil companies receiving massive tax subsidies directly from the government, but, thanks to lack oversight and bad lease agreements, the federal government is likely getting a far smaller share of the domestic oil revenue than it should.

Have the Toxic Dispersants BP Poured into Gulf Gusher Ever Been Tested?

By: Friday May 7, 2010 12:01 pm

As BP pours unprecedented amounts of a toxic dispersant into the Gulf, it appears no one in the federal government or the governments of surrounding states can tell us anything useful about the consequences, and no one is demanding immediate access to a full explanation of everything in this deadly brew.

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