With the publishing of a “white paper” about the housing market, Fed Chairman Ben Bernanke has rankled some Republicans that suggestions made appear to have transgressed some line of propriety that separates monetary policy, fiscal policy, and the Fed’s “independence.”
A shave and a haircut will cost you more than two bits just about anywhere, but it’ll run you over two Hamiltons at the U.S. Senate barbershop — more than double what barbers in some parts of the country charge. Yet despite these high prices, the shop, which is supposed to be self-sustaining, ended up $300,000 in the hole last year and got its own taxpayer bailout, proving once again that government is incapable of performing even the smallest tasks cheaply and competently.
In a recent editorial entitled “Regulation without Representation,” Investors Business Daily pointed out that a new federal rule or regulation is published every two hours, 24 hours a day, 365 days a year. But most of them escape the notice of Congress. Congress itself passes fewer than 200 in each session, the rest are promulgated by agencies in the Executive Branch in contravention of explicit instructions in the Constitution.
Congress is investigating a series of questionable “green” loans made by the Obama administration to a variety of dubious companies, more than a few of which later went bankrupt costing taxpayers billions of dollars. But despite repeated requests, Energy Secretary Steven Chu has so far failed to testify on the matter, forcing Rep. Darrell Issa (R-Calif., left) to warn him of a potential subpoena if cooperation is not forthcoming.
For nearly four decades Congress has ensured that federal spending rises inexorably by guaranteeing that every budget item increases automatically each year. And woe to anyone who seeks merely to reduce these automatic increases, for he shall be labeled a heartless, slash-and-burn budget cutter!
As the Obama administration prepares to present a budget to Congress that includes $487 billion in military cuts over the next 10 years, some experts are warning that the downsized defense that is planned could severely jeopardize the nation’s security posture. As reported by the Associated Press, the projected military cuts announced by Defense Secretary Leon Panetta (left) January 26 would include slashing combat brigades from 45 to as low as 32, and shrinking Army ground forces by at least 80,000 soldiers and the Marines by about 20,000 over the next five years.
U.S. Sen. Rand Paul (R-Ky.) missed a flight to Washington, D.C., this morning after being detained by screeners with the Transportation Security Administration (TSA) for refusing a full-body pat-down, his staff said. The incident happened at the Nashville, Tennessee, airport when a so-called “naked-body scanner” found some sort of anomaly around the conservative Senator’s knee.
Feeling pain at the gas pump? Congressman Dennis Kucinich thinks he has a solution: Tax “unreasonable” oil company profits. The Ohio Democrat has introduced the Gas Price Spike Act, which he claims will “reduce the price of gasoline” by confiscating part or all of an oil company’s profits that exceed an amount deemed “reasonable” by a panel of unelected bureaucrats.
All new legislation offered by members of the House of Representatives since January 3, 2011 is required to include, under House Rule XII, a reference to the constitutional authority under which the bill is presented. Most of the bills offered since then show either the members’ lack of understanding of, or blatant disregard for, the purpose of Rule XII: to tie the proposed legislation to the enumerated powers under the Constitution.
How high can America’s astronomical debt reach? The level is set to increase once more in late January as Congress, in effect, rubber stamps President Obama’s request to raise the limit on the nation’s debt beyond its current $15 trillion.
Rhode Island Representative Daniel Gordon has drafted a resolution to express his opposition to the National Defense Authorization Act (NDAA) “that suspended habeas corpus and civil liberties” under Section 1021. In an interview with World Net Daily, Gordon explained that that section of the act, signed into law by President Obama on New Year's Eve, "provides for the indefinite detention of American citizens by the military on American soil, without charge, and without right to legal counsel and [the] right to trial."