How Do You “Invest” When You’re Broke?

Hey Obama, what part of “we don’t have any money” don’t you understand?

CBO: Federal deficit to hit $1.5T this year

Last month’s bipartisan tax cuts and spending deal has deepened the federal deficit dramatically this year, putting the government on track for a nearly $1.5 trillion shortfall — the largest in history — the Congressional Budget Office said Wednesday.

The sobering check on the country’s finances was announced a day after President Obama‘s address to Congress and underscored the country’s tenuous fiscal standing, which could doom many of Mr. Obama‘s initiatives to boost government spending on education, roads and other infrastructure.

The CBO did say the economy appears to be improving, albeit slowly, from a deep recession that drove the unemployment rate to more than 10 percent. The rate is still above 9 percent, despite efforts by Mr. Obama and Congress to pump money into the economy.

“It’s been a slow recovery by the standards of our past. The labor market in particular has been coming back slowly; income has been coming back slowly,” said CBO Director Douglas Elmendorf.

Social Security Will Post Shortfall This Year, CBO Says

Social Security will post a $45 billion shortfall in fiscal 2011 and will pay out more in benefits than it accepts in payroll taxes through at least 2021 without legislative changes, the Congressional Budget office said on Wednesday.

See also:
The Budget and Economic Outlook: Fiscal Years 2011 to 2021
CBO projects record-high $1.5 trillion budget deficit this year
As deficits, debt soar, Obama, Congress fail to confront them
Deficit Outlook Darkens
CBO forecast: frightening fodder for both parties
It’s official: The debt is ballooning. Now can we think clearly?
Social Security to Run Deficits for Foreseeable Future, CBO Says
Social Security fund now seen to be empty by 2037
Social Security to Operate in the Red for the Next 10+ Years: CBO
Social Security to run permanent deficits, says CBO
CBO: Social Security Will Run Permanent Deficits
A Roadmap for America’s Future

I swear, Is Paul Ryan the only adult in Washington? When are these moron politicians going pay attention, grow some spines, and start taking this fiscal crisis seriously. Every day that goes by, we dig ourselves deeper into the national debt hole and it becomes ever so much more difficult and painful to try and climb out of our self inflicted, bottomless deficit pit.

/we’d better just forget about pie in the sky choo choo trains and go straight to the required austerity budget measures

The New Pig Book Is Here, The New Pig Book Is Here!

It’s a bipartisan effort, Republicans are just as bad as Democrats. Take a look at who’s flushing your hard earned tax dollars down the hog trough.

Cochran Leads Congress in Earmarks, $16.5B Total Set Aside for Pet Projects in 2010

Drumroll, please.

And the king of pork is … Sen. Thad Cochran. The Mississippi Republican ranks at the top this year of the Citizens Against Government Waste’s list of congressional earmarkers.

Cochran, the ranking Republican on the Senate Appropriations Committee, is typically a leading pork-seeker and in 2010 had his name on 240 projects worth $490.2 million The runner-up was Appropriations Committee Chairman Daniel Inouye, D-Hawaii, with 151 projects worth $387.5 million.

Taken together, earmarked projects in fiscal year 2010 accounted for $16.5 billion of the federal budget. Leading the the 50 states was Hawaii, which enjoyed $251 per capita, thanks in large part to the help of Inouye. On the House side, Rep. Earl Pomeroy, D-N.D., took home the gold with 50 projects worth $148.4 million.

Citizens Against Government Waste President Tom Schatz said Cochran has earned the nickname of “Thad the Impaler” for his persistent earmarking.

“Senator Cochran has been number one for three years in a row and his total exceeds $2 billion during that three-year period of time,” he said.

The good news was the number of earmarks declined — the 9,129 projects listed marked about a 10 percent decline from last year. But that’s still more than 15 times the number of projects when Citizens Against Government Waste first started tracking in 1991.

And according to the annual “Congressional Pig Book” released Wednesday by the watchdog group, some oddball projects were on the receiving end. Shrimp research, local museums and military projects that even the Pentagon didn’t want were among the beneficiaries this year of billions of dollars in pork-barrel spending, according to the guide.

Here’s a look at some of the more peculiar projects on the extensive “Pig Book” list:

— Shrimp must be in vogue this year. The budget set aside $2.9 million in seven states for shrimp aquaculture research. Elsewhere in the budget was $700,000 requested by several senators and representatives for fishing research by the Southern Shrimp Alliance.

— Five senators and four representatives across four states requested $2.6 million for potato research. Along those lines, several lawmakers also set aside $775,000 for the Institute for Food Science and Engineering, which, as CAGW notes, has a program for researching “Pickle Science and Technology.”

— The wool industry has attracted millions in funding over the past decade and 2010 was no different. Montana, Texas and Wyoming were the recipients of $206,000 for wool research.

— Talk about a war on drugs. Among the projects requested by Cochran was $500,000 for the University of Southern Mississippi for a cannabis eradication program.

— The Camden Police Department, which reportedly was not eligible for stimulus funding because of prior grant violations, was awarded $200,000 in earmarks from New Jersey’s two senators, Frank Lautenberg and Robert Menendez, for a Mobile Communications Center.

The Pentagon was awarded billions for programs Defense Secretary Robert Gates spoke out against as unnecessary. One earmark worth $2.5 billion was for 10 C-17 cargo jets. Another was worth $465,000 for development of a Joint Strike Fighter alternative engine. Lawmakers fought administration attempts to cut those programs out of concern over lost jobs.

— Somehow, the Edward M. Kennedy Institute for the Senate also made its way into the defense budget. The institute is expected to include exhibits, classrooms and a replica of the U.S. Senate chambers — at a price of $18.9 million.

— Local museum and educational center funding was also popular this past year. The budget included $100,000 for the Cabot’s Pueblo Museum in Desert Hot Springs; $250,000 for the Wistariahurst Museum in Massachusetts; $500,000 for the Czech and Slovak Museum and Library in Cedar Rapids, Iowa; and another $500,000 for the National Mississippi River Museum and Aquarium in Dubuque, Iowa.

— Several educational campaigns also received funding. Among them was $250,000 for an anti-steroids awareness program at the I Won’t Cheat Foundation in Salt Lake City.

And that’s just the tip of the pork iceberg. Read The 2010 Pig Book for yourself and pick out your own favorite nauseating examples of tax money wasted on hog[expletive deleted].

The Congressional Pig Book is CAGW’s annual compilation of the pork-barrel projects in the federal budget. The 2010 Pig Book identified 9,129 projects at a cost of $16.5 billion in the 12 Appropriations Acts for fiscal 2009. A “pork” project is a line-item in an appropriations bill that designates tax dollars for a specific purpose in circumvention of established budgetary procedures. To qualify as pork, a project must meet one of seven criteria that were developed in 1991 by CAGW and the Congressional Porkbusters Coalition.

Complete Pork Database: Search all 9,129 projects by keyword, member, state, party or appropriations bill.

Features: Oinker Awards | State Rankings | Historical Trends | All About Pork

See also:
2010 Pig Book Summary
Citizens Against Government Waste
Earmark Spending $16.5 Billion in CAGW’s 2010 Congressional Pig Book
“Pig Book” released today details members of congress’ pork requests
The 2010 Congressional Pig Book: 20 Years at the Trough
68M For Ind. Among Earmarks Flagged In ‘Pig Book’
Rep. Yvette Clarke Wins Award in CAGW’s 2010 Pig Book
Pig book shows earmark reduction
Watchdog group finds smaller servings of congressional pork

Okay, so $16.5 billion is hardly a drop in the overall budget bucket and it’s good that the Congressional hogs pigged out on fewer earmarks than last year. But damn it, $16.5 BILLION IS REAL MONEY, IT’S YOUR HARD EARNED TAX MONEY, OR BORROWED FROM THE CHINESE, AND THESE CORRUPT MORONIC BASTARDS ARE SPENDING IT ON RIDICULOUS, UNNECESSARY BULL[EXPLETIVE DELETED]!

/inform yourself, pay attention to who’s wastefully spending America into economic oblivion, and vote accordingly in November