Two recently-elected governors, John Kasich of Ohio and Scott Walker of Wisconsin, both ran on scrapping plans for high-speed rail lines in their respective states that would have been paid for with stimulus funds. Both felt, correctly in my view, that construction of these lines is a wasteful boondoggle destined to lose money in the […]
In one of its last acts before adjourning for a winter break, the House of Representatives passed legislation that raises the amount of debt the US government is legally allowed to owe by an amount of $290 billion to a record $12.4 trillion in allowable government debt. The 218-214 vote saw unanimous Republican opposition, though […]
As the American economy remains sluggish and unemployment remains high, President Obama held a “jobs summit” today after mounting pressure by both sides of the political spectrum to start focusing on job creation and the economy, a policy area the administration has largely ignored since the passage of the stimulus package in February. What it […]
(Image credit: Jason Reed/Reuters via the NY Times) President Obama, returning from a fund-raising trip, phoned campaign volunteers to tell them it was imperative health care reform happen this year, or it won’t happen at all. The conference call was put together by his political organization Organizing for America, and is part of a strategy […]
Personally, I have more intellectual honesty than to compare a political leader I disagree with to Hitler (though I can’t say the same for others). Shockingly, however, a recent New York Times economic editorial makes just such a comparison, but in an attempt to cast the similarity in an auspicious light. I give a heads […]
With a soaring speech outlining his hope for the new legislation, President Obama today signed the $787 billion stimulus package into law. Despite all the supposed optimism, the Dow dropped 300 points, reflecting pessimism on Wall Street that this bill will do any real good. I have already railed so much against this pork-ridden non-job-creating […]
With the defections of Republican Senators Susan Collins, Olympia Snowe, and Arlen Specter, Senate Majority Leader Harry Reid apparently has enough votes to end debate on the stimulus bill and bring up a final roll call on the stimulus package, which estimates place between $780 and $827 billion. Last night, Sen. Reid said the legislation was […]
Ready for more hope and change? Tom Daschle, Obama’s choice for the Secretary of Health and Human Services, has apparently forgotten to pay $128,000 in taxes. Just another honest mistake, right? After all, this is the smoothest transition in the history of the nation, right? Right! I don’t know how anyone can claim with a straight face that […]
The massive stimulus package has just passed the vote in the House of Representatives. It’s extremely interesting to note that not one Republican voted for the bill, and 11 Democrats joined them in what is already being decried as a party line vote. Not that simple, no way. The nay voters did the right thing, as […]
A few days ago, President-Elect Barack Obama acknowledged a projected $1 trillion dollar deficit for 2009, and added he forsaw trillion dollar deficits for years to come, even with any potential economic stimulus plan his administration might offer. During the campaign and since, the claim was made that these are the most challenging economic times […]
Wellsy's World 
November 10, 2010
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