Great news: State governments are finally realizing they’ve about topped out the huge taxes hidden in the price of each gallon of gasoline. Of course, that doesn’t mean they’ll make do with the tax revenues they have.
Not-so-great news: They’re looking to nip American drivers another way, by taxing us according to how many miles we use the roadways. Oregon and Minnesota are already running pilot studies. While Nevada and Washington are hatching similar plots. Experts said we’re likely to have such levies within 60 months, according to USA Today. So, how would this work anyway?
May’s weak jobs report further confirms the president’s policies are failing to help the economy. This is, indeed, the worst recovery since the Depression.
Negative superlatives associated with this presidency keep piling up. The toll so far:
In 2037, if things stay relatively the same, debt per American will be at $147,000.
In that year, according to Republican side of the Senate Budget Committee, “the federal government will spend $2.7 trillion per year in interest payments alone, representing more than a quarter of our entire budget that year and greater than the total federal budget in 2003.”
Internal emails show that BrightSource Energy, which received the largest federal loan for a solar energy project under President Obama’s stimulus package, leveraged its considerable political connections with top Democratic policymakers to secure its $1.6 billion in taxpayer backing.
Economist John B. Taylor of the Hoover Institution summed it up aptly: “Unpredictable economic policy — massive fiscal ‘stimulus’ and ballooning debt, the Federal Reserve’s quantitative easing with multiyear near-zero interest rates, and regulatory uncertainty due to Obamacare and the Dodd-Frank financial reforms — is the main cause of persistent high unemployment and our feeble recovery.”
Twenty-three months after President Obama gave us Wall Street “reform,” the results are in — and they’re not pretty. The Dodd-Frank law didn’t end “too big to fail”; it just gave Washington someone new to blame for the next blowup-and-bailout, namely the hapless regulators.
And senators who should care about Wall Street’s health — such as New York’s Chuck Schumer and New Jersey’s Bob Menendez — are already leading the rush to blame.
Sorting through the facts about Massachusetts and Washington.
What went wrong? The U.S. economy seemed to have finally reached a cruising altitude, albeit a low one, almost three years after the end of the 2007-2009 recession. Growth was hardly strong at 2 percent, and monthly payroll increases of 250,000 during the winter were nothing to get excited about. Still, the idea that the U.S. economy might finally be able to walk on its own got tripped up by anemic job growth of 69,000 in May.
A YouTube video released by Senator Jim Inhofe’s office shows a top Environmental Protection Agency (EPA) official admitting that the whole point of President Obama EPA’s air regulations was to kill coal and that this decision was “painful” because it causes coal communities in states like Pennsylvania and West Virginia to “go away.”
Government coffers could be empty as soon as July, shortly after this month’s pivotal elections. In the worst case, Athens might have to temporarily stop paying for salaries and pensions, along with imports of fuel, food and pharmaceuticals.