When The Only Budgetary Tool You Have Is A Chainsaw...

...everything my junior Senator Rand Paul looks at is roughly forest-shaped.

Sen. Rand Paul (R-KY) will soon introduce legislation that puts just about all other spending cut plans proposed by Republicans this Congress to shame.

The bill, passed my way by a source, calls for $500 billion in specific spending cuts during Fiscal Year 2011 -- which comes to a close at the end of September, just eight months from now.

Like the House's Republican Study Committee before him, Paul targets projects and agencies dear to liberals. It defunds completely the Affordable Housing Program, the National Endowment for the Arts, and the National Endowment for the Humanities.

But it goes much farther than that.

It calls for rescinding all funds to the Consumer Product Safety Commission (that's the agency that offers protection from unsafe cribs and lead paint). It dramatically reduces spending to nearly every government agency. It rescinds most of the Department of Energy's funds and transfers the remaining dollars and accounts to the Department of Defense.

Paul would reduce Health and Human Services funding by over $26.5 billion, including over $5.8 billion in reductions for the National Institute of Health. He'd slash defense spending by over $47 billion, and defund all Department of Education programs immediately, while capping Pell grants at just over $16.2 billion. He does not, however, propose to touch Social Security between now and the end of the fiscal year.

So he'd basically trash every single federal agency and completely defund the Department of Education, knock nearly a billion off of NOAA, cut military pay by $14 billion, cut the NIH by nearly six billion, completely defund Housing and Urban Development (which I guess would put a couple million poor people out on the street), defund the Bureau of Indian Affairs (yeah, sorry about your reservations guys, good luck with that, you're on your own), slash $9 billion from the Justice Department, cut $20 billion from the State Department, cut $42 billion from Transportation (screw you, socialist roads!), cut nearly $5 billion each from NASA and the NSF, and a host of other cuts and repeals.

By all means, I want to hear what other Republicans think of this and if they agree with Rand here telling schools, soldiers, the working poor, Native Americans, people who got screwed by Foreclosuregate and scientists to go screw themselves with a rusty broadsword.

Parade this $500 billion cut plan around, Rand.  I want this attached to your Senate career for the duration. Number of co-sponsors I see for this bill?  Zero.

But hey Kentucky, you voted for him.  Well, you did, I didn't.

So How's That Austerity Hysteria Working Out For You, Britain?

Nobody could have guessed it would be an economic disaster right?

The economy unexpectedly shrank in the last three months of last year, prompting warnings of a grim 2011 as the government embarks on the deepest spending cuts in a generation.

The figures also complicate life for the Bank of England, which has come under fire for failing to keep a grip on inflation but which will be reluctant to raise interest rates when the economy is so weak.

Finance minister George Osborne said the shock 0.5 percent contraction would not derail his austerity plans, blaming the drop in output on the harshest December weather on record.

But even without the heavy snow, the economy would have struggled to register any growth, according to the Office for National Statistics.

Evidence the economy was in trouble even before the bulk of the budget austerity kicks in shocked financial markets, braced for growth of between 0.1 and 0.6 percent.

January's rise in value-added (sales) tax will only add to the economic headwinds, making a bounce back at the start of 2011 unlikely.

"This is a horrendous figure. An absolute disaster," said Daiwa economist Hetal Mehta.

Actually, several folks, myself included, predicted that this would happen.  Austerity didn't work for Ireland, and it won't work for Britain.  And surprise, Britain is now back in a recessionary contraction and will stay that way for the foreseeable future.  You can't just lay off 2% of your country's entire work force and expect to do anything but spiral into a nightmare scenario.

But hey, Republicans want to do the same thing here.

The State Of The Union Is...Wha?

President Obama's State of the Union speech was pretty decent, as he challenged America to innovate and create jobs, saying we had been served this generation's "Sputnik moment" where other countries have gotten ahead of us in science and innovation.

By investing in better research and education, Obama noted, America can lead the world in the same way its investments half a century ago brought the first lunar landing after the Soviet satellite Sputnik had beaten the United States into space.

"After investing in better research and education, we didn't just surpass the Soviets; we unleashed a wave of innovation that created new industries and millions of new jobs," Obama said. "This is our generation's Sputnik moment."

Obama also called for revamping education policy and adding 100,000 more math, science, technology and engineering teachers by the end of the decade; extending wireless Internet coverage to 98 percent of the population, and having 80 percent of the nation's electricity coming from clean energy sources by 2035 and 1 million electric vehicles on the road by 2015.

"Some folks want wind and solar," Obama said of the clean energy goal. "Others want nuclear, clean coal and natural gas. To meet this goal, we will need them all -- and I urge Democrats and Republicans to work together to make it happen."

The Republican response from Rep. Paul Ryan was also pretty standard fare.

We face a crushing burden of debt. The debt will soon eclipse our entire economy and grow to catastrophic levels in the years ahead.

On this current path, when my three children -- who are now 6, 7, and 8 years old -- are raising their own children, the federal government will double in size, and so will the taxes they pay.

No economy can sustain such high levels of debt and taxation. The next generation will inherit a stagnant economy and a diminished country. Frankly, it's one of my greatest concerns as a parent, and I know many of you feel the same way.

But the real star of the night was the Bachmanniac response from Planet Trainwreck.

Ms. Bachmann defied Democratic and Republican leaders who had scripted a night of unity, courtesy and common purpose. Instead, Ms. Bachman gave viewers a blast of Tea Partisan fury that served as a rebuke both to President Obama and to the milder, more conciliatory official Republican response delivered by Representative Paul Ryan of Wisconsin.

It wasn’t just what she said, though she used words like “explosion” and “exploded” and “Obamacare” a lot. It was the way Ms. Bachmann spoke, smiling and gesturing with an intensity that almost cracked the screen. “Instead of a leaner, smarter government, we bought a bureaucracy that now tells us which light bulbs to buy and which may put 16,500 IRS agents in charge of policing President Obama’s health care bill,” Ms. Bachmann said, as she stood in front of a huge chart of unemployment figures.

She didn’t look directly into the camera, but stared slightly to her right, which added to the sense of discordance. (She was looking into a Tea Party Express camera, but was recorded by a pool camera that belonged to Fox News.)

America got a really good look at the Democrats, the Republicans, and the Tea Party last night and the differences among them:  Obama talks of tough times but hope in the future, Ryan talks of tough times and looming disaster ahead, and Bachmann screams that the disaster is upon us now and revolution is proceeding apace.

What you believe personally about America in 2011 probably influences which of the three you believed most last night.

StupidiNews!

• Egyptian security forces clamped down on mass protests Wednesday, promising the government "will not allow any provocative movement or a protest or rallies or demonstrations."
• The US Justice Department wants to have all web surfing tracked and mandatory retention of that data for a much longer period of time.
• GOP Sen. Jim DeMint will offer a "Obamacare repeal" bill in the Senate, but it is not expected to beat a filibuster.
• A poll of global investors finds that most believe at least one country will leave the Eurozone and Ireland and Greece will default on their loans by 2016.
• Online news services are teaming up to launch a new service called Ongo ahead of Apple's iPad Daily offering available next month.

Last Call

Me, eleven days ago:

The bigger picture is nearly all of North Africa is facing something of a domino effect right now, including food riots in Tunisia's neighbor Algeria, and crackdowns in Algeria's neighbor, Morocco.

There's also the possibility that WikiLeaks releasing cables showing the State Department's brutally frank assessment of the corruption of the now crumbling Ben Ali regime may have contributed to the unrest.

North Africa is in real trouble at this point, and if problems spread eastward into Libya, Egypt, and Jordan then things could get very nasty indeed.  Keep an eye on the region. 

Cairo, Egypt, today:

Thousands of protesters spilled into the streets of Cairo on Tuesday, an unprecedented display of anti-government rage inspired in part by the tumult in the nearby North African nation of Tunisia.


Throngs in the sprawling city marched from the huge Tahrir Square in Cairo toward the parliament building, according to CNN reporters on the scene.

Demonstrators threw rocks at police and police hurled rocks back. Tear-gas canisters were shot at demonstrators and the protesters threw them back.

Protest organizers said they hope to capture the regional momentum for political change set by Tunisians, who 10 days ago forced the collapse of Zine El Abidine Ben Ali's 23-year rule.

The grievances were foreshadowed after several Egyptians set themselves or attempted to set themselves on fire earlier this month, mirroring the self-immolation of a Tunisian man whose action spurred the uprising there.

The Tunisian uprising was the most successful revolt in the region since 1979, but it is anybody's guess whether uprisings will spread to other Arabic-speaking lands.

Don't say you weren't warned.

Animal Farce

American Spectator's Jeffrey Lord is apparently very angry that Rep. Giffords got really good health care and is getting rehabilitated and cites her treatment as exactly why we need to (surprise!) repeal Obamacare.

If Gabrielle Giffords were not part of the governing elite -- the Ruling Class -- with this serious of a wound, a gunshot to the brain -- under ObamaCare would she be receiving this kind of A-triple plus treatment?
Or, would she instead be receiving the treatment President Obama himself insisted must be required for average Americans when he said:

"I don't think that we can make judgments based on peoples' spirit. That would be a pretty subjective decision to be making. I think we have to have rules…"

Rules. Government rules. And it is precisely Gabby Giffords' "spirit" that is being cited in news stories as evidence of her progress. A clear violation of the President's insistence that medical decisions can't be "based on peoples' spirit…we have to have rules." Unless, apparently, one is Gabby Giffords -- or, in fairness to Giffords -- Congresswoman Gabby Giffords. Member of the Ruling Class Gabby Giffords.

So let's ask the question that is at the moment too challenging for some.. The question that went straight to the heart of Orwell's Animal Farm warning.

If Congresswoman Giffords were not a 41-year-old Ruling Class Member of Congress but, say, an 81-year-old unknown middle-class woman in otherwise good health living in the Bronx and hit by the same gunshot wound to the head in a robbery, would she not be at risk of facing what Sarah Palin calls the "death panels" of Obamacare? Which is to say, government rationing? Instead of being transferred on an Air Force jet to Houston, accompanied by her surgeon, for decidedly expensive treatment (not to mention the transfer itself and the care already received) under Obamacare, wouldn't she or her family be facing the decision that is implicit in President Obama's own words that, well, there have to be rules about this kind of thing?

Three reactions to this:

1) Ass.  Do the words "too soon" mean anything to you?  The woman was shot in the head by a madman.  Have some semblance of respect.


2) Wouldn't a member of Congress be getting this same exact level of treatment if Obama had never passed Obamacare, or if Obamacare was repealed tomorrow?


3) Congratulations!  Considering #2 there, you've made the perfect argument as to why we need the public option, and it's one liberals have used before.


Seriously, this is like saying "Boy the fire department sure reacted quickly to the blaze at the Mayor's house.  Would you have gotten the exact same level of response?  Of course not.  As a result, we should privatize  fire departments because fire response time is inherently unfair.  The fire department is making life and death decisions about people's lives!  We can't have that.  You want better fire service?  Pay for it!"

Here's the problem:  health care is already rationed in this country by the ability to pay for treatment, or more specifically, getting your insurer to pay for it.  Your health insurance provider is your death panel.  They always have been.

This was an idiotic argument two years ago, it's idiotic now.

What People Really Hate Is Not Obamacare, It's The Insurance Mandate

Yet another poll shows that Americans, Republicans, Democrats, and independents alike, overwhelming support the individual pieces of health care reform.  What they don't like is the mandate to buy insurance.

As has been the case in poll after poll, people like certain parts of the law.

Some 85 percent liked the discount on brand-name prescription drugs for certain Medicare recipients, while 79 percent backed subsidies for low and middle income people to buy coverage. Also getting more than two-thirds support was the law’s voluntary long-term care insurance program and expanding Medicaid, the joint state-federal health care program for lower-income people.

There’s also strong opposition to a favorite Republican tactic: Not providing funds to implement the legislation. Sixty two percent disapproved of that strategy.

However, Republicans enjoy strong support for one of their major targets; only 23 percent back the mandate that most people must buy coverage by 2014.

So no, people overwhelming support the health care bill's individual provisions, and they don't want the Republicans to defund it.  When you hear "the people are against Obamacare" they are not...they are against the mandate forcing them to purchase health insurance.

There's a difference.  The argument to replace the mandate with the public option instead would make tremendous sense.

Playing The Angles

Santa Barbara - Officials hope to realign sidewalk benches so that pedestrians can avoid encounters with the homeless. Some say the money would be better spent on aiding the needy.

To keep the homeless from accessing so many people in Santa Barbara, they are spending $50,000 on a project to angle the benches so that it is difficult to see everyone.  When you reduce the contact, it may not be profitable enough to go there.

Would this money be better spent helping the homeless?  Perhaps.  While at a glance this article seems a bit shallow, there may be benefits in encouraging the homeless population to take advantage of the services available.  It's not a matter of them ruining the shopping experience (at least in my book) as it is about driving them to shelter and nutrition instead of exposure and drug use.  You can only lead a horse to water, I know.

Speaking of that, Ted Williams, the "man with the golden voice" has left rehab against doctor's advisement.  This isn't the end for him, but the inevitable cycle an addict has to follow before they get help and it sticks.  I hope that Williams is back in rehab soon, because without it he won't fare well.  There's a hero in there, I can just see it.

Do Not Track Button Is Hollow Comfort

SAN FRANCISCO (AFP) – Mozilla and Google on Monday took steps toward giving people more online privacy but each said hurdles remain to creating simple "Do Not Track" buttons for Web browsing software.

The only problem is that the action is without teeth.  Websites, when presented with a user who asks for the privacy option, get to decide if they will cooperate or continue to track website usage.  There is also the "risk" of seeing ads that aren't relevant to you, which I'm sure most people can survive.  Let's face it, websites are not going to voluntarily participate in a project that will hinder their ability to track users.


This is a first step in the right direction, but right now it is a hollow promise.  Internet privacy is going to become even more important over time, so a system should be put into place now to allow users to control over or at least have an understanding of their level of privacy.  Google is definitely trying to put their best face on whenever privacy is involved, the press has been nasty to them over the years for their many lapses and intrusions.  Facebook should take notice of how even a monster like Google can be rocked when users tire of fighting for basic privacy.


Simply giving users a choice and clearly defined levels of privacy should be enough.  However, that could be a long time in coming because there aren't many willing to jump in and get this started.

Lucky Strike

A woman who fell 23 stories after an apparent suicide attempt landed on a cab... and lived.  The 30-year-old woman was being treated for broken ribs and internal bleeding.  Whatever was so wrong that she jumped, she must surely know that she has to give life a second chance after this.

Enjoy!

Turn On The Lights, Watch The Roaches Scatter Part 60

The big Six-Oh on the Foreclosuregate fiasco is a big one:  A group of insurance companies has just dropped the hammer on Bank of America, after finding some 91% of the 19,000 securitized mortgages the insurance giants reviewed had some sort of paperwork problem.

Ninety-one percent.  Needless to say, the lawsuit flat out accuses BoA of "massive mortgage fraud".

Tyler Durden:

To wit, from the lawsuit: "In carrying out its review of the approximately 19,000 Countrywide loan files, MBIA found that 91% of the defaulted or delinquent loans in those securitizations contained material deviations from Countrywide’s underwriting guidelines.

MBIA’s report showed that the loan applications frequently “(i) lack key documentation, such as verification of borrower assets or income; (ii) include an invalid or incomplete appraisal; (iii) demonstrate fraud by the borrower on the face of the application; or (iv) reflect that any of borrower income, FICO score, debt, DTI [debt-to-income,] or CLTV [combined loan-to-value] ratios, fails to meet stated Countrywide guidelines (without any permissible exception)."

The plaintiff counsel is Bernstein Litowitz, which was made famous from the WorldCom litigation. We doubt they will settle for a few measily pennies on the dollar. As for the list of litigants, it is a veritable who's who of the insurance industry: Dexia Holdings, FSA Asset Management, New York Life Insurance Company, The Mainstay Funds, Teachers Insurance & Annuity, TIAA-CREF Life Insurance, and College Retirement Equities Fund. 

Bottom line:  when only one out of ten mortgages you sell in a AAA rated investment vehicle is actually even legal from a paperwork standpoint, you're in an egregious amount of trouble.  These are big-league institutional investors worth billions themselves, and they aren't going to just walk away here.  They know damn well they have BoA by the short and curlies.

And somehow, I don't think the insurance companies are going to run out of money fighting this before Bank of America does.  This one's going to go all 15 rounds, folks.  Pull up a chair.  If the government won't break up the banks, well the corporate shark feeding frenzy will.

Zandar's Thought Of The Day (Now With Tim Pawlenty)

Tim Pawlenty.  Governor.  Republican.  Minnesotan.  Carbon-based lifeform.  Action hero.



This fall, Tim Pawlenty is Tim Pawlenty in "The Tim Pawlenty Story With Tim Pawlenty And Also Special Guest Tim Pawlenty"  featuring:

• Tim Pawlenty
• The Tim Pawlenty Players
• Bronson Pinchot
• Musical Guest: The Tim Pawlenty Experience Featuring Tim Pawlenty
• Paula Poundstone
• The University Of Tim Pawlenty Marching Pawlentys Band
• Tim Pawlenty in 3-D
• Petting Zoo (Alpacas sponsored by Tim Pawlenty)
• Charo
• Via Satellite Tim Pawlenty

And Tim Pawlenty As "The Beaver"!

What, no O Fortuna for your background music?  Slacker.

Well, GOP presidential hopefuls?  Get to work.  You've got a hell of a bar to jump in the self-aggrandizing political commercial department.

How To Win Friends And Influence Supreme Court Justices, Part 2

Justice Clarence Thomas, to his credit, has come clean on his wife's employment.

"It has come to my attention that information regarding my spouse's employment required in Part III B of my financial disclosure report was inadvertently omitted due to a misunderstanding of the filing instructions," Thomas wrote in a letter to the committee that handles the reports.

The Ethics in Government Act of 1978 requires all federal judges to disclose their spouse's employer. They are not required to list the total income.

Thomas' formal recognition of the errors follows a complaint filed Friday by the group Common Cause that had expressed concern about the "apparent gaps" in his disclosures as required by law.

"Justice Thomas sits on the highest court of the land, is called upon daily to understand and interpret the most complicated legal issues of our day and makes decisions that affect millions," Common Cause president Bob Edgar said after viewing the amendment. "It is hard to see how he could have misunderstood the simple directions of a federal disclosure form. We find his excuse is implausible."

Thomas amended the reports today noting that his wife, Virginia Thomas, drew income from the Heritage Foundation, a conservative think tank where she worked from 1998 to 2003. Thomas also noted that she worked at Hillsdale College for three months in 2008.

None of Thomas' forms, covering activities through Dec. 31, 2009, mention his wife's work at Liberty Central, a conservative political education group she co-founded in January 2009 in part to energize Tea Party activists.

But the group did not officially launch until May 2010, which will only be covered during in the next disclosure period.

"We also continue to be puzzled by omission of Liberty Central as Virginia Thomas's most recent employer," Edgar said. 

You would think a Supreme Court Justice would be a skosh more detail-oriented and all, and would, I dunno, pay attention to the fine print on legal documents he'd been ignoring for years.

Silly me.  I'm sure it's totally normal for somebody on the Supreme Court to overlook the law.  (Again and again and again.)

Happens all the time, I suppose.  Dude should hire a few more clerks.

StupidiNews!

• President Obama's State of the Union address tonight will reportedly focus on job creation and the divided government in Washington he heads.
• The UN reports 2010 was "one of the worst years in history" for natural disasters.
• A formal investigation into a no-bid contract in Afghanistan is underway, the contract is worth a quarter of a billion dollars.
• Inflation in emerging markets is hitting just when food prices worldwide are set to go up.
• A new survey finds younger kids are far better at tech skills like iPhone navigation than they are basic skills like tying their shoes, and can learn them earlier.

Last Call

Doug J wraps up the winger position on global climate change:

You know the drill: global warming isn’t happening, if it is happening then it’s not caused by human behavior, if it is caused by human behavior then we can’t do anything about it, if it is caused by human behavior and we can do something about it, then that something is too expensive, if it is caused by human behavior and we can do something about it that is not too expensive, then that something is not what Democrats are proposing. And Al Gore is fat, he flies too much, look at his electricity bill, and sometimes when he goes somewhere it snows there, which is very ironic.

Meanwhile 2010 was a record high temp year tied with 2005 and we need to take another century to study it because the science isn't settled.