Friday, May 29, 2009
Thursday, May 28, 2009
Wednesday, May 27, 2009
Tuesday, May 26, 2009
Friday, May 22, 2009
How much will the Democrats’ national energy tax cost?
The Democrats’ national energy tax will confiscate approximately $3,100 per year from hard working families, kill jobs, and lead to more government intrusion.
What could the average family do with $3,100 a year?
- A driver could fill their car’s fuel tank more than 100 times.
- A family could pay for 15 months worth of disposable diapers.
- A young professional could pay for roughly 7 years of cell phone service.
- A Midwest wheat farmer or a Northeast dairy farmer could fill up their tractor’s fuel tank 33 times.
- A family of four could pay the grocery bill for 5 months.
- The average Illinois family could pay for more than 3 years of electricity bills.
- An energy-conscious consumer could buy 822 GE 13-watt energy efficient light bulbs.
Thursday, May 21, 2009
U.S. companies and interest groups involved with climate change hired 2,430 lobbyists just last year, up 300% from five years ago. Fifty of the biggest U.S. electric utilities -- including Duke -- spent $51 million on lobbyists in just six months.
The massive transfer of wealth that many businesses seek is not necessarily good for the rest of the economy. Spain has been proclaimed a global example in providing financial aid to renewable energy companies to create green jobs. But research shows that each new job cost Spain 571,138 euros, with subsidies of more than one million euros required to create each new job in the uncompetitive wind industry. Moreover, the programs resulted in the destruction of nearly 110,000 jobs elsewhere in the economy, or 2.2 jobs for every job created.
The cozy corporate-climate relationship was pioneered by Enron, which bought up renewable energy companies and credit-trading outfits while boasting of its relationship with green interest groups. When the Kyoto Protocol was signed, an internal memo was sent within Enron that stated, "If implemented, [the Kyoto Protocol] will do more to promote Enron's business than almost any other regulatory business."
Posted by: Press Secretary
Wednesday, May 20, 2009
Another way to look at the Waxman-Markey cap-and-trade proposal is that it functions like a tax increase. Under the bill, about half of all revenues raised by the cap-and-trade system between 2012 and 2025 will be recycled to businesses and consumers, with the other half spent by federal government. While recycling revenues is better than nothing, it introduces inefficiencies because the process distorts how workers and businesses would have spent the money had it not been collected and redistributed by the government.
When the federal government nationalized the phone system in 1917, justifying it as a wartime measure that would lower costs, it turned it over to the Post Office to run. (The process was called "postalization," a word that should send shivers down the back of any believer in free markets.) But despite the promise of lower prices, practically the first thing the Post Office did when it took over was . . . raise prices.Cost cutting is alien to the culture of all bureaucracies. Indeed, when cost cutting is inescapable, bureaucracies often make cuts that will produce maximum public inconvenience, generating political pressure to reverse the cuts.
Capitalism isn't perfect. Indeed, to paraphrase Winston Churchill's famous description of democracy, it's the worst economic system except for all the others. But the inescapable fact is that only the profit motive and competition keep enterprises lean, efficient, innovative and customer-oriented.
Tuesday, May 19, 2009
Monday, May 18, 2009
Friday, May 15, 2009
The real news about the stimulus is buried inside the Biden report. It says that as of May 5, $88 billion has been "obligated" for spending. "Obligated" is federalese for money that has been committed but not yet spent. A much smaller number, $28.5 billion, has actually been shoved out the door -- that is, $28.5 billion out of the stimulus total of $787 billion has so far been spent.
“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”
Thursday, May 14, 2009
Wednesday, May 13, 2009
The current outlook for an economic recovery remains precarious. Although the stimulus package will give a temporary boost to growth in the current quarter, it will not be enough to offset the combined effect of lower consumer spending, the decline in residential construction, the weakness of exports, the limited availability of bank credit and the downward spiral of house prices. A sustained economic upturn is far from a sure thing. This is no time for tax increases that will reduce spending by households and businesses.
Tuesday, May 12, 2009
On Thursday May 14th at 2:00pm, district staff from the office of Congressman Shuster will hold a session of office hours at the McVeytown Borough Building.
These office hours bring Congressman Shuster’s district staff to residents who don’t live close to the congressman’s district offices or are unable to get to the offices during the week.
WHO: Members of Congressman Shuster’s district staff.
WHAT: Office hours in Mifflin County.
WHEN: 2:00 to 3:00pm on Thursday May 14th.
WHERE: McVeytown Borough Building located at 10 North Queen Street in McVeytown, PA 17051.
"Republicans are facing that obstacle as they try to explain the dimensions of Obama’s spending plan. The GOP pollster told me he tries to explain it by asking people to think of a dollar as a second — one dollar, one brief tick of your watch. A million seconds, the pollster explained, equals eleven days. A billion seconds equals 31 years. And a trillion seconds equals 310 centuries."
Posted by: Press Secretary