Tag Archives: excessive spending

Jan 22 2017

President Trump and VP Pence White House Staff Commission Swearing In Ceremony…


This afternoon President Trump and Vice-President Pence participated in swearing in the White House Senior Staff.  These are officials who represent the office of the President.  For the first time…

Source: President Trump and VP Pence White House Staff Commission Swearing In Ceremony…

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Jan 22 2017

Education – The Greatest Fraud Exempt from Law


Armstrong Economics Blog/Education

Re-Posted Jan 22, 2017 by Martin Armstrong

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QUESTION: Trump seems to be interested in changing education. This seems to be really controversial. What are your thoughts on this subject.

ANSWER: Yes, there are people yelling about reducing or gutting public education. Let’s get real about this. The two WORST areas of abuse have been medical care and education. Both are increasing at costs way ahead of anything else in the economy. Why? Corruption inspired by subsidizing from government. Trump has been talking about:

  • Consolidate ALL current repayment plans into a single Income-Based Repayment program (IBR) where students pay 12.5% of their income toward their loans each month and receive total loan forgiveness after 15 years
  • Plans to cover increased forgiveness amounts (and the higher cost to taxpayers) due to shorter repayment terms by lowering federal spending accordingly
  • Promises to scale back funding significantly for the Department of Education
 There is a test in economics known as the Baumol’s cost disease, or the Baumol effect. The assumption is a free market study whereas a rise of salaries in jobs that have experienced no actual increase in the labor productivity is a response to rising salaries in other jobs where there has been an increase in labor productivity growth. This Baumol effect operated counter to the classical economic theory which assumed real wage growth is closely tied to labor productivity changes.
In other words, let’s say the average wage is $10,000 annually. There is a shortage in IT developers. Suddenly they now pay $20,000 annually. The rise of wages in other jobs without any productivity gains whatsoever takes place as other jobs now have to compete with rising wages in an unrelated field. How many student have gone to school for medicine or law simply because they were the higher paying jobs.
There are quantitative studies that have shown that there are significant rises in tuition for college that is disproportionate to the rise in potential income one would earn (see Tuition-Study). The Federal Student Loan Program (FSLP) has fuel the increases in the costs exponentially because the colleges know they will get paid. They do not have to compete so the costs have increased beyond the increase in wages. Forbes Magazine showed that 60% of students cannot find a job in what they paid for in college. If this was finance, they would be in prison for 25 years calling in fraud. We have consumer fraud laws, but none of this applies to education. Students are burdened with loans that are for degrees that are totally worthless.
College tuition rose 106% between 1987 and 2010, which was far more than the 78% increase salaries. Tuition studies have shown that the FSLP alone generate a 102% tuition increase. Such studies have stated that their findings “cast doubt on Baumol’s cost disease as a driver of higher tuition.”
Hillary-StudentsThis is the greatest of all frauds because the Clintons handed to the banks to exempt students from the bankruptcy laws. They go into debt to pay loans for degrees that are worthless. Then, the bankers are clever. They won that exemption from the Clintons, which Larry Summers supported, under the pretense that these students had no collateral and were thus risky warranting that they could not go bankrupt. Then the bankers would demand the parents cosign. Hence, they played fast and loose with the laws and managed to get collateralize loans exempt from bankruptcy.
The State of New Jersey refused to forgive a student loan co-signed by a mother after her son was murdered. This was not unique. A mother from Michigan ended up in the same position. “That’s when American Education Services (AES) and National Collegiate Trust (NCT) turned my son’s dream into a nightmare for me and the two year old son he left behind.”
MY RECOMMENDATION TO TRUMP:
If a student cannot find employment with a degree after 3 years, then the loan should be forgiven COMPLETELY and the college will have to reduce what it received by 50%. End exceptions to the bankruptcy law NOW and state publicly that the Clinton laws for the bankers are being REPEALED.

“The Congress shall have Power To…establish…uniform Laws on the subject of Bankruptcies throughout the United States….”

ARTICLE I, SECTION 8, CLAUSE 4

The Bankruptcy Clause was to prevent a debtor who won a discharge of a debt in his state being prosecuted by a creditor trying to collect the debt in another state. That was the original intent and implicit within that clause is Equal Protection of the law. Therefore, I contend that the Clintons violated the Constitution by exempting student loans from the bankruptcy law.
EQUAL PROTECTION CLAUSE
No State shall…deny to any person within its jurisdiction the equal protection of the laws.AMENDMENT 14, SECTION 1

Dec 11 2016

KOMMONSENTSJANE – AMNESTY INTERNATIONAL ATTACKS DEMOCRACIES, FORGIVES ISLAMIST TYRANNIES


When you are insane, like most of the progressive left is, there is absolutely no chance that anything remotely rational will pass by their lips as spoken words!

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Amnesty International Attacks Democracies, Forgives Islamist Tyrannies

by Giulio Meotti

Giulio Meotti, Cultural Editor for Il Foglio, is an Italian journalist and author.

December 9, 2016 at 5:00 am

◾”Morally bankrupt.” — Salman Rushdie, author with a $600,000 bounty from Iran’s regime on his head, speaking of Amnesty International.
◾Amnesty sponsored a rally in Brussels, where Islamist speakers celebrated the 9/11 attacks, denied the Holocaust and demonized gays and Jews.
◾It seems that Amnesty turned its back on the battle of human rights in favor of a grotesque anti-Western bias. The Economist accused Amnesty of “reserving more pages to human rights abuses in Britain and the United States than in Belarus and Saudi Arabia.”
◾Amnesty’s secretary general compared Soviet forced-labor camps, where millions died of hunger, cold and executions, to a US military base where no prisoner has died, and which has prevented countless innocent civilians from being blown up.

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Dec 11 2016

Crooked Hillary Clinton Says Fake News Stories Are Destroying America! Ain’t That Some Shit!! – YouTube


The Doctor Of Common Sense

Source: Crooked Hillary Clinton Says Fake News Stories Are Destroying America! Ain’t That Some Shit!! – YouTube

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Dec 11 2016

KOMMONSENTSJANE – NEW EPA RULES COSTS $3,080 PER PERSON


Lets hope Trump can reverse this as it will not be much longer there will be no economy here.

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New EPA rules push regulatory costs past $1 trillion, $3,080 per person

Washington Examiner

The new implementation of EPA rules on heavy trucks has boosted the 10-year regulatory burden on America past $1 trillion, 75 percent of which have been imposed by the Obama administration.

That amounts to a one-time charge of $3,080 per person, or an annual cost of $540, according to a new analysis from American Action Forum.
“In other words, each year every person, regardless of age, in the nation is responsible for paying roughly $540 in regulatory costs. These burdens might take the form of higher prices, fewer jobs, or reduced wages,” said AAF’s Sam Batkins, director of regulatory policy at the watchdog group.

Stay abreast of the latest developments from nation’s capital and beyond with curated News Alerts from the Washington Examiner news desk and delivered to your inbox.
The staggering amount is likely to…

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Dec 11 2016

The New York Times and Washington Post “Intelligence Sources” are Currently Under Inspector General Investigation…


The Sunday Talk Shows are filled with various left-wing punditry using two media reports from the Washington Post and New York Times claiming anonymous, albeit transparently political, “intel…

Source: The New York Times and Washington Post “Intelligence Sources” are Currently Under Inspector General Investigation…

Keep in mind that the military oath of office “REQUIRES” an officer to defend the US Constitution (not the people in the government) from “ALL” enemies Foreign and “Domestic!”

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Dec 11 2016

The Truth About Fake News | Russia Hacked U.S. Election For Donald Trump?


Dec 11 2016

KOMMONSENTSJANE – I AM SO CONFUSED


All of them … lol

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Maybe someone needs to show this to the Native Americans protesting in South Dakota!

pipeline

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Dec 11 2016

KOMMONSENTSJANE -FAKE NEWS? OBAMA’S COLLEGE RECORDS REVEALED. — kommonsentsjane


To quote a very famous person, “What difference does it make now … ” The damage has been done and now Trump will have to undo it!

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Hasn’t this been on the internet before? What took you guys so long? I know you just wanted to let him fulfill his two terms. Do you all feel better now that he has torn up the country? Breaking: Obama’s College Records Show “HE IS A FOREIGNER.” So what now? kommonsentsjane

via KOMMONSENTSJANE -FAKE NEWS? OBAMA’S COLLEGE RECORDS REVEALED. — kommonsentsjane

Reblogged on kommonsentsjane/blogkommonsents.

December 10, 2016

More Information.

Viral Liberty

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OBAMA’s COLLEGE RECORDS ARE FINALLY RELEASED – What They Say Could Get Him IMPEACHED.

VIA| President Barack Obama has gone above and beyond to keep information and records about his past sealed. Now, whether he likes it or not, the American public is finally getting answers.

Recently, “Americans for Freedom of Information” released copies of Obama’s transcripts from Occidental College. The documents reportedly reveal that Obama received financial aid as a student from…

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Dec 11 2016

Has the Trumpian Revolution Begun?


Trump is doing good so far !!!!