RealClearMarkets - Budget Deficits Have Consequences
"Just after the debt ceiling increase, the Treasury announced, without consulting Congress, that Fannie Mae and Freddie Mac would get unlimited funding for the next three years for emergency aid to the housing market, 'to assure markets of the government's support.'
The translation of bureaucratic prose into ordinary speech is quite simple: the administration does not feel bound by congressional debt limits. It will spend as it sees fit.
The next time Congress considers raising the debt ceiling, a few members may wonder aloud what difference the debt ceiling makes when the administration brazenly ignores it.
It's not as if Fannie and Freddie have no money authorized by Congress.
So far they have been allocated $400 billion for emergency housing loans, of which $111 billion has been spent.
That means that the two government-sponsored enterprises already have congressional authority to spend an additional $289 billion. Now the administration finds that this is not sufficient, and the agencies can spend as much as they like even without congressional authority."
Saturday, January 02, 2010
Friday, January 01, 2010
Hundreds of Cars Torched in France at New Year - ABC News
"Youths burned 1,137 cars across France overnight as New Year's Eve celebrations once again turned violent, the French Interior Ministry said on Friday.
Car burnings are regular occurrences in poor suburbs that ring France's big cities, but the arson is especially prevalent during New Year's Eve revelry.
The number of vehicles torched was only 10 short of the record 1,147 burned this time last year, even though the Interior Ministry mobilized 45,000 police during the night -- 10,000 more than 12 months ago."
And just who are the allah-praising "youths" living in these "poor", car burning suburbs?
Top Cartoons Of '09
"IBD Editorial Cartoonist Michael Ramirez picks his favorite cartoons of the year."
Its a Wrap: The Most Underreported Stories of 2009
Its a Wrap: The Most Underreported Stories of 2009
A long, sad list that the media (and their democrat comrades) would prefer you never knew about.
Underreported by the MSM, not the web.
Or FoxNews.
Or much of talk radio.
A long, sad list that the media (and their democrat comrades) would prefer you never knew about.
Underreported by the MSM, not the web.
Or FoxNews.
Or much of talk radio.
U.S. to Lose $400 Billion on Fannie, Freddie
"Taxpayer losses from supporting Fannie Mae and Freddie Mac will top $400 billion, according to Peter Wallison, a former general counsel at the Treasury who is now a fellow at the American Enterprise Institute.
“The situation is they are losing gobs of money, up to $400 billion in mortgages,” Wallison said in a Bloomberg Television interview.
The Treasury Department recognized last week that losses will be more than $400 billion when it raised its limit on federal support for the two government-sponsored enterprises, he said."
$400 BILLION!!!!!
Does Alamo Bowl belong on Court TV, not ESPN?
Does Alamo Bowl belong on Court TV, not ESPN?
"The Alamo Bowl held a pep rally Thursday afternoon, the kind of delightfully ridiculous event that makes bowls so much fun.
Players, coaches and band members rode in boats to the 'Rivercenter Lagoon,' which is a lagoon in the same sense that your local Wendy's is a rainforest.
It's basically an outdoor mall."
"The Alamo Bowl held a pep rally Thursday afternoon, the kind of delightfully ridiculous event that makes bowls so much fun.
Players, coaches and band members rode in boats to the 'Rivercenter Lagoon,' which is a lagoon in the same sense that your local Wendy's is a rainforest.
It's basically an outdoor mall."
Biggest Exporters of World
Biggest Exporters of World
(2000) ($)
USA 1,065,740,000,000
Germany 633,052,000,000
Japan 528,751,000,000
UK 401,385,000,000
France 377,274,000,000
Canada 321,693,000,000
Italy 294,852,000,000
China 279,562,000,000
Netherlands 258,951,000,000
Hong Kong (China) 244,004,000,000
Source: - World Bank, World Development Indicators 2002"
(2000) ($)
USA 1,065,740,000,000
Germany 633,052,000,000
Japan 528,751,000,000
UK 401,385,000,000
France 377,274,000,000
Canada 321,693,000,000
Italy 294,852,000,000
China 279,562,000,000
Netherlands 258,951,000,000
Hong Kong (China) 244,004,000,000
Source: - World Bank, World Development Indicators 2002"
Trade Protection = Economic War on Yourself
"'Protectionism is doing to ourselves in peacetime what our enemies do to us in wartime (cutting off trade and moving a country in the directon of self-sufficiency).'"
Those who want to "protect" us from the discount merchandise offered by developing countries forget (or believe the sophistry of our anti-American MSM) that the USA is the world's largest EXPORTER.
Most popular baby names in West Michigan during the 2000s
Most popular baby names in West Michigan during the 2000s
1. Jacob, Emma
2. Ethan, Isabella
3. Carter, Addison
4. Noah, Olivia
5. William, Ava
6. Isaac, Abigail
7. Caleb, Sophia
8. Gabriel, Ella
9. Evan, Lillian
10. Logan, Natalie
Isn't it a bit odd that, during the recent decade's decline in christian belief, the most popular names seem to come right out of the Bible?
1. Jacob, Emma
2. Ethan, Isabella
3. Carter, Addison
4. Noah, Olivia
5. William, Ava
6. Isaac, Abigail
7. Caleb, Sophia
8. Gabriel, Ella
9. Evan, Lillian
10. Logan, Natalie
Isn't it a bit odd that, during the recent decade's decline in christian belief, the most popular names seem to come right out of the Bible?
What Ever Happened To The Duke 88?
Instapundit » Blog Archive » POWER LINE: What Ever Happened To The Duke 88?
"POWER LINE: What Ever Happened To The Duke 88?
And, from Professor Bainbridge, Stuart Taylor’s Stinging Indictment of Academe.
Plus, Ed Driscoll reminds us of this video from Mary Katharine Ham."
Great Instapundit links
How quickly we...er....the MSM, forgets...and sure wants us to forget.....
Do click on the video link.
Plus, Mary Katharine gettin' her lacross game down!
"POWER LINE: What Ever Happened To The Duke 88?
And, from Professor Bainbridge, Stuart Taylor’s Stinging Indictment of Academe.
Plus, Ed Driscoll reminds us of this video from Mary Katharine Ham."
Great Instapundit links
How quickly we...er....the MSM, forgets...and sure wants us to forget.....
Do click on the video link.
Plus, Mary Katharine gettin' her lacross game down!
Texas Tech interim coach makes his case to stay
Texas Tech interim coach makes his case to stay
"Jerry Turner, vice chairman of the university system's board of regents, told the Associated Press 'other things' came to light during an investigation of Leach's treatment of the receiver. Turner declined to elaborate about the other issues.
Leach was suspended Monday after he refused to agree to guidelines for dealing with players set forth by his bosses in a Dec. 23 letter.
'I'm very sad to say there's only one person to blame for this and it's Mike Leach,' Texas Tech chancellor Kent Hance said."
This keeps getting stranger every day.
And this:
http://www.bringbackleach.com/
"Jerry Turner, vice chairman of the university system's board of regents, told the Associated Press 'other things' came to light during an investigation of Leach's treatment of the receiver. Turner declined to elaborate about the other issues.
Leach was suspended Monday after he refused to agree to guidelines for dealing with players set forth by his bosses in a Dec. 23 letter.
'I'm very sad to say there's only one person to blame for this and it's Mike Leach,' Texas Tech chancellor Kent Hance said."
This keeps getting stranger every day.
And this:
http://www.bringbackleach.com/
Michigan State takes convincing route to GLI title
Michigan State takes convincing route to GLI title
"Michigan State earned its nation-leading 14th win of the season Wednesday night to raise the Great Lakes Invitational banner to the Joe Louis Arena rafters."
Go State!
"Michigan State earned its nation-leading 14th win of the season Wednesday night to raise the Great Lakes Invitational banner to the Joe Louis Arena rafters."
Go State!
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