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Government Has Lost $25 Billion on GM Bailout

Written by Gary North on August 15, 2012

The Obama Administration likes to say that the auto bailout money was good for the economy. But when the government has lost $25 billion out of $85 billion spent, it does not seem like a good business decision to the rest of us. According to the Treasury Department report, the GM bailout will lose at […]

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Welfare for Fat Cats Hit $100 Billion in 2012

Written by Gary North on August 9, 2012

The Cato Institute has released a report on the extent of corporate welfare payments by the U.S. government in fiscal 2012. It estimates that the total package is $100 billion. Of course, this was more than offset by the costs of federal regulation. As to which companies won, net, has not been traced, nor is […]

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$1.37 Million Grant to Run Cars (or Something) on Willows

Written by Gary North on August 8, 2012

The U.S. Department of Energy and the Department of Agriculture have decided to use $1.37 million in taxpayer funds to see if there is a commercial market for hybrid shrub willow. Apparently, commercial enterprises did nott think it was worth $1.37 million to find out. Two researchers at Cornell University have been researching this since […]

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Party Time at Taxpayer Expense

Written by Gary North on August 7, 2012

The Government Services Administration likes to have parties at taxpayers’ expense. It has gotten away away with this for years. The government spends so much money every year that junkets and parties go unnoticed. The GSA hid the fun and games under this enormous layer of government spending. But then the party in Las Vegas […]

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$270,000 for a Government Awards Ceremony

Written by Gary North on July 31, 2012

The U.S. government has an agency, the General Services Administration. It supervises real government-owned estate. It supervises government purchasing. It also throws terrific parties. Expensive parties. You may have read of the party in Las Vegas that cost taxpayers $800,000. That got a lot of attention three months ago. Well, the GSA is at it […]

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Fifth Year of a Trillion-Dollar-Plus Federal Deficit

Written by Gary North on July 25, 2012

The politicians have gotten used to deficits over $1.2 trillion. They assume that the public — meaning Asian central bankers and the Federal Reserve — will continue to fund these deficits forever, at interest rates lower than at any time since the 1930s. The believe in free money. But these IOUs are permanent. When rates […]

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London Olympics’ Cost: 2012 vs. 1948

Written by Gary North on July 23, 2012

The cost of the 2012 Olympics will be at least £9.3 billion, or $14.5 billion. (1 pound = $1.56) Originally, money from the private sector was to pay for the games, but as the 2008 financial crisis took hold the Olympic project was bailed out costing the British tax payer £5.9bn. The latest government report […]

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Another Solar Panel Boondoggle Goes Belly-Up, Taking Our Money

Written by Gary North on July 20, 2012

Companies go bust all the time. The question is: Do they take taxpayers’ funds with them? If the answer is “yes,” that raises another question: If politicians and bureaucrats had not poured money into this project, would it ever have begun? “Green energy” is mostly a boondoggle. Most projects cannot make it on theirs own. […]

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Video: It’s ACORN All Over Again

Written by Gary North on July 19, 2012

James O’Keefe got his initial 15 minutes of fame with a video of him pretending to be a pimp with a supposed underage girl. He went to a branch of ACORN, which Obama had worked with in his community organizing days. It is a government-funded local community action organization. He asked for advice on how […]

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