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Posts tagged "Congress"

Congress does right; defeats $6 billion corn ethanol subsidy

Unbelievable, but true. One of the most sacred of cows, the corn ethanol subsidy will not be renewed. Here’s where Friends of the Earth and I agree. Here is part of its news release: Corn ethanol no longer a sacred cow; After long campaign, diverse coalition prevents renewal of blenders’ tax credit Washington, D.C. — Congress... Read more »
By Dennis Byrne,
December 23, 2011 at 11:15 am
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Gov. Christie to Obama: 'What the hell are we paying you for?'

He also blames both parties for the super committee’s failure to solve the problem. Let’s hear it for the big guy... Read more »
By Dennis Byrne,
November 30, 2011 at 8:26 am
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Book: Rahm Emanuel dumped $250,000 in Freddie Mac stock days before it collapsed

Insider Trading? Is it illegal? It might not be because: While by no means illegal; lawmakers are exempted from the insider trading laws they impose on private traders. At the least there are all sorts of potential and serious conflicts of interest, demonstrating that even Democrats are not immune from financial hanky panky. Read the... Read more »
By Dennis Byrne,
November 15, 2011 at 4:39 pm
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CME, Rahm Emanuel and new bailouts?

This is from Newsalert. Very interesting. The new Dodd-Frank bill has an usual provision in it. Never before could a U.S. financial exchange get a bailout from the Fed. But, now thanks to Dodd-Frank : America’s largest futures exchange can get a direct line of credit from the Fed. Former CME board member Rahm Emanuel was... Read more »
By Dennis Byrne,
November 15, 2011 at 2:26 pm
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Why a $4 trillion deficit reduction would be easier than $1.2 trillion

The idea is certainly counterintuitive, but it’s a serious proposal from the Committee for a Responsible Federal Budget. This is the group’s explanation: … a Go Big approach [$4 trillion] is not just what is needed to get control of the debt from a policy perspective, a comprehensive approach can also improve the chances of... Read more »
By Dennis Byrne,
November 6, 2011 at 8:27 am
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End all energy subsidies, whether for coal or renewables.

Now here’s an idea that I could support, and I think that many Americans would too. Below is a press release highlighting legislation that would do exactly that. It’s from Freedom Action, “a web-based gathering of activists dedicated to self governance and free markets.”  Its web site is FreedomAction.org. Freedom Action Supports New Bill to End Energy... Read more »
By Dennis Byrne,
November 4, 2011 at 9:02 am
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Mayor Bloomberg: Occupy Wall Street can be entertaining...

…but it’s not helping; it’s looking backwards, not forward, and we should be looking at how to make this country greater. So says Mayor Michael Bloomberg... Read more »
By Dennis Byrne,
November 2, 2011 at 2:15 pm
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Health care is the largest special interest group lobbying the congressional super committee

The Sunlight Foundation has broken down by industry the special interests that are lobbying the congressional super committee to avoid having their funds cut. The Foundation’s study reports: The healthcare industry is the dominating lobbying activity before the Super Committee, according to third quarter lobbying reports. Almost 30 percent of the organizations that reported lobbying the... Read more »
By Dennis Byrne,
November 1, 2011 at 12:21 pm
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What's going on with the Super Committee?

It’s easy to forget that a bi-partisan committee of both houses of Congress is meeting (in private) to figure out how to cut $1.5 trillion from the federal budget. If it doesn’t by Nov. 23, the ax will fall and the across-the-board budget cuts of similar size will be automatically imposed. So, what’s the Super... Read more »
By Dennis Byrne,
October 20, 2011 at 2:33 am
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Congress: A year late and $1,052,062,224,099 short

You recall the idiom, “A day late and a dollar short,”  don’t you? Well, Congress is a year late and $1.05 trillion short. As it has become its habit, Congress this fiscal year failed to pass a budget well before the new fiscal year starts on Oct. 1. A fiscal year-end report by the Committee... Read more »
By Dennis Byrne,
September 30, 2011 at 10:00 am
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