At a time when each day seems to bring more dire news regarding the economy, Americans have one silver lining: the price at the pump is going down. According to energy experts, gas prices should fall anywhere from 30 to 50 cents per gallon over the next several weeks.
Residents of the Windy City may have to do without their favorite ice cream for a while, and possibly for good; and they have government to thank for it. According to the Chicago Tribune, Kris Swanberg, a laid-off Chicago public school teacher who chased the American Dream by starting her own business making artisanal ice cream, was recently told by the Illinois Department of Public Health that she will have to stop selling her product, Nice Cream, until she obtains a dairy license.
The Obama administration has unveiled a new round of fuel economy standards for cars and trucks, which are expected to require mileage gains of nearly double the current figure. The new CAFE (Corporate Average Fuel Economy) standards will last through the year 2025.
When public debt abounds, politicians look to slippery ways to keep buying votes with tax dollars while reassuring skittish markets that everything is okay. America, of course, faces a deficit showdown driven, largely, by the explosion in federal expenditures during the reign of Obama. The glut of mandated money (currency backed by the “full faith and credit of the United States” — and nothing else) has produced predictable economic behavior.
According to internationally acclaimed author and highly regarded expert Lester Brown (pictured), writing in the January 10 issue of Foreign Policy magazine:
Tonight there will be 219,000 additional mouths to feed at the dinner table, and many of them will be greeted with empty plates.
Another 219,000 will join us tomorrow night.
Seemingly unaware of the nation’s debt crisis, the federal government is attempting to revamp its foreclosure-prevention program to make it easier for out-of-work homeowners to keep their homes.
The city council of tiny Alto, Texas — population 1,200, about 140 miles southeast of Dallas — shuttered its police department on June 15 because of a budget shortfall. In order to make up a $185,000 deficit, the council furloughed the four police officers and Chief Charles Barron for six months.
If the Obama administration gets its way, you can kiss your next SUV — and possibly your life, if you're involved in an automobile accident — goodbye. The administration is proposing a doubling of current federal gas mileage standards by 2025. New cars manufactured in that year would be required to meet a Corporate Average Fuel Efficiency (CAFE) standard of 56.2 miles per gallon, which the New York Times calculates “would require increases in fuel efficiency of nearly 5 percent a year from 2017 to 2025.”
On the day President Obama took office in January of 2009, regular unleaded gasoline was selling nationally at an average price of $1.83 per gallon. The national average price has recently been as high as $3.98 per gallon, according to the American Automobile Association’s Daily Fuel Gauge Report. (The highest recorded average price was set on July 17, 2008, when it hit $4.11 per gallon.) That is not good news for President Obama.
The city of Prichard, Alabama, is the best proof that more states need Governors such as New Jersey’s Chris Christie, who is willing to take on a pension crisis. For years, Prichard was warned that if no changes were made to its pension fund, the money would be gone by 2009. The warnings went unheeded, and now the pension funds have disappeared.
When the monies dried up, Prichard stopped sending pension checks to its 150 retired workers — a violation of state law. Meanwhile, those who once collected pension checks found themselves struggling financially.