The “Stimulus” That Keeps On Sucking

It’s bad enough that we borrowed a trillion dollars from China to waste on a “stimulus” program that actually destroyed 595,000 jobs, but it turns out that we lavished $24 billion of the massively useless pork potpourri on tax criminals! How cool was that?

Stimulus recipients found to be tax cheats

One construction company that won multiple awards of money under President Obama’s 2009 stimulus program was delinquent on its federal tax bill to the tune of $700,000, even as a company executive was blowing hundreds of thousands of dollars at casinos.

Yet another company failed to pay taxes, entered into a payment plan with the Internal Revenue Service, and then repeatedly defaulted on that agreement – and still won stimulus contracts worth more than $1 million, according to a Government Accountability Office report released Tuesday.

All told, government investigators found that during the period they examined, one out of every six stimulus contract or grant dollars went to a known tax cheat, according to Sen. Tom Coburn, an Oklahoma Republican who, along with several colleagues, requested the GAO review.

The review found that at least 3,700 stimulus recipients owed a total of more than $757 million in taxes, but were awarded $24 billion in stimulus money.

Read the report:

Thousands of Recovery Act Contract and Grant Recipients
Owe Hundreds of Millions in Federal Taxes

See also:
Report: Stimulus recipients owe $750 million in taxes
Companies that got stimulus money owe millions in back taxes
Stimulus contractors owe millions in back taxes
Stimulus Recipients Owe Back Taxes
Report: Stimulus Recipients Owe Hundreds Of Millions In Taxes
Stimulus money recipients owe billions in US taxes-GAO
GAO Report: 3,700 Stimulus Fund Recipients Owe Millions in Taxes
GAO Voices Concerns (Again) About Contracts, Grants Awarded to Delinquent Taxpayers
Senators: Tax delinquency issue larger than stimulus
Report: Tax dodgers pocketed $24B+

Now, you need to ask yourself, if the Obama administration was this incompetent that they gave $24 billion to known tax cheats, just how inept were they in frittering away the rest of the trillion dollars? If they couldn’t even catch the obvious gaming of the “stimulus” program, how much more undetected abuse and fraud is out there? I bet it totals in the hundreds of billions. And you, your children and grandchildren will get stuck paying for Obama’s “stimulus” folly, because we borrowed the trillion he wasted.

/Obama, putting the boon in boondoggle

Caught Pants Down With All Our Eggs In One Basket

Remember less than a year ago when Obama and Robert Gates cancelled the F-22 Raptor progam, the world’s premier air dominance fighter, which was already in service, because it was a “waste [of] billions of taxpayers dollars”? In their infinite wisdom, the dynamic defense duo decided to gamble almost America’s entire air combat future on a single, unproven design, the F-35 Joint Strike Fighter, that has yet to be put into production and won’t enter service in the foreseeable future.

Well, guess what?

GAO analyst says cost overruns, delays continue to plague F-35 program

A congressional auditor said Thursday that the Joint Strike Fighter, the Pentagon’s most expensive weapons program, “continues to struggle with increased costs and slowed progress,” leading to “substantial risk” that the defense contractor will not be able to build the jet on time or deliver as many aircraft as expected.

Michael Sullivan, the U.S. Government Accountability Office’s top analyst on Lockheed Martin’s jet fighter, also known as the F-35 Lightning II, told the Senate Armed Services Committee in a hearing that the cost of the program has increased substantially and that development is 2 1/2 years behind schedule.

The United States plans to buy about 2,400 of the fighter jets for the Air Force, the Marine Corps and the Navy. The projected cost for the program appears to have increased to $323 billion from $231 billion in 2001, when Bethesda-based Lockheed won the deal, according to Sullivan. Eight other countries — Britain, Italy, the Netherlands, Turkey, Canada, Australia, Denmark and Norway — also plan to buy the jets.

The cost to build the plane is now expected to be $112 million per aircraft, according to a GAO auditor.

Sullivan said the program’s “negative outcomes” were “foreseeable as events have unfolded over several years.” He said that the cost increases are largely because Lockheed and the Pentagon are “trying to invent things and build them at the same time,” leading to costly changes in how the plane is being developed, built and tested. That continues to take “more time, money and effort than budgeted.”

He criticized the Defense Department, saying it “does not have a full, comprehensive cost estimate for completing the program,” and noted that it has “fallen short” of its expectations year after year. He said, “Constant program changes and turbulence have made it difficult to accurately and confidently measure progress and maturity of the aircraft system.”

See also:
Pentagon: F-35 fighter jet cost doubles
UPDATE 2-Price of Lockheed’s F-35 fighter soars
F-35 Fighters Now Double the Cost
Cost of F-35 Has Risen 60% to 90%, Military Says
Pentagon tells Senate panel that F-35 is more than 50 percent over cost
DoD: F-35 costs rise at least 50 percent
Joint Fighter Faces Critical Period
Donley: No JSF Alternatives Exist
Air Force: F-35 jet delayed by 2 years
Air Force: F-35 will be delayed, to cost significantly more
Joint Strike Fighter
F-35 Lightning II | Lockheed Martin
F-35 Joint Strike Fighter (JSF) Lightning II
F-35 Lightning II
Joint Strike Fighter Program

It continues to amaze me as to how they fit all those government clowns into such a tiny car.

/as far as birds go, it’s quite clear now that one F-22 Raptor, already in the hand, is worth way more than two F-35 Joint Strike Fighters, still in the bush

Your Government, Totally Out Of Control

Barney Frank: Let’s spend TARP profits before taxpayers can get them

When President Obama announced on June 9 that some financial institutions would be allowed to repay Troubled Asset Relief Program dollars, he said the massively expensive TARP bailout had made money for the federal government. “It is worth noting that in the first round of repayments from these [TARP recipients], the government has actually turned a profit,” the president said. Indeed, TARP supporters have long held out the hope that the program might be profitable.

But now Rep. Barney Frank, the chairman of the House Financial Services Committee, has come up with a proposal to spend any TARP profits before they can be returned to the taxpayers. Last Friday, Frank introduced the “TARP for Main Street Act of 2009,” a bill that would take profits from the program and immediately redirect them toward housing proposals favored by Frank and some fellow Democrats.

In exchange for receiving TARP money, financial institutions were required to hand over shares of preferred stock that paid a dividend for the government. In theory, if a financial institution paid the dividend faithfully, and then repaid the TARP money, then the government would turn a profit. Last month, the General Accountability Office (GAO) reported that, through June 12, 2009, the government had received $6.2 billion in dividend payments. The original TARP legislation required that money made from the program “shall be paid into the general fund of the Treasury for reduction of the public debt.”

Frank, however, wants to spend the money before it can be used to pay down anything. First, the “TARP for Main Street” proposal would take $1 billion “from dividends paid by financial institutions that have received financial assistance provided under…the Emergency Economic Stabilization Act” and apply it to a trust fund that Frank has long wanted to create for low-income rental housing. (The measure, unfunded, was part of last year’s bailout of Fannie Mae and Freddie Mac.) Next, Frank would take $1.5 billion from TARP dividends for a so-called “neighborhood stabilization” fund. Republican critics have charged that both measures might allow federal dollars to be distributed to activist groups like the Association of Community Organizers for Reform Now, or ACORN.

The “TARP for Main Street” bill would also spend $2 billion, apparently from remaining TARP funds, to subsidize people who are delinquent on their mortgages, and another $2 billion to “stabilize multifamily properties that are in default or foreclosure.”

Congress’s Travel Tab Swells

Spending by lawmakers on taxpayer-financed trips abroad has risen sharply in recent years, a Wall Street Journal analysis of travel records shows, involving everything from war-zone visits to trips to exotic spots such as the Galápagos Islands.

The spending on overseas travel is up almost tenfold since 1995, and has nearly tripled since 2001, according to the Journal analysis of 60,000 travel records. Hundreds of lawmakers traveled overseas in 2008 at a cost of about $13 million. That’s a 50% jump since Democrats took control of Congress two years ago.

The cost of so-called congressional delegations, known among lawmakers as “codels,” has risen nearly 70% since 2005, when an influence-peddling scandal led to a ban on travel funded by lobbyists, according to the data.

Mortgage-Rescue Plan to Cover More Borrowers

The Obama administration is expanding the number of borrowers who can refinance home loans under its housing-rescue program, an acknowledgment that more needs to be done to help people who are upside down on their mortgages.

The administration said Wednesday that borrowers with mortgages worth up to 125% of their home’s value will now be eligible to refinance under its program, up from a 105% limit.

To be eligible, borrowers must be current on their mortgages and have loans owned or backed by government-controlled mortgage companies Fannie Mae and Freddie Mac.

/had enough Hope and Change yet?

One Leg Of Our Nuclear Triad Almost Lost In A Fogbank

For want of polystyrene foam, albeit highly specialized polystyrene foam . . .

Nuclear-Warhead Upgrade Delayed; Government Labs Forgot How to Make Parts

The Department of Defense and the National Nuclear Security Administration had to wait more than a year to refurbish aging nuclear warheads — partly because they had forgotten how to make a crucial component, a government report states.

Regarding a classified material codenamed “Fogbank,” a Government Accountability Office report released this month states that “NNSA had lost knowledge of how to manufacture the material because it had kept few records of the process when the material was made in the 1980s and almost all staff with expertise on production had retired or left the agency.”

So the effort to refurbish and upgrade W76 warheads, which top the U.S. Navy’s (and the British Royal Navy’s) submarine-launched Trident missiles, had to be put on hold while experts scoured old records and finally figured out how to manufacture the stuff once again.

According to the Sunday Herald of Glasgow, Scotland, Fogbank is “thought by some weapons experts to be a foam used between the fission and fusion stages of a thermonuclear [hydrogen] bomb.”

The National Nuclear Security Administration is a semi-autonomous agency within the Department of Energy. It is responsible for the manufacture and upkeep of the nation’s nuclear weapons.

A new facility was built at the Y-12 National Security Complex near Oak Ridge, Tenn., to begin production of Fogbank once again, but was delayed by poor planning, cost overruns and an failed effort to find an alternative to Fogbank.

Refurbished W76 Warhead Enters U.S. Nuclear Weapon Stockpile

The first refurbished W76 nuclear warhead has been accepted into the U.S. nuclear weapon stockpile by the Navy, according to a senior official at the Department of Energy’s National Nuclear Security Administration (NNSA). This culminates a ten year effort to ensure that the aging warhead, already years beyond its original intended life, can continue to be a reliable part of the U.S. nuclear deterrent.

“This is another great example of the unsurpassed expertise throughout NNSA’s national security enterprise,” said William Ostendorff, NNSA’s principal deputy administrator. “It becomes more and more challenging each time we extend the life of our nuclear weapons. I am proud that our dedicated scientists and engineers were able to once again meet this unique responsibility.”

Most nuclear weapons in the U.S. stockpile were produced anywhere from 30 to 40 years ago, and no new nuclear weapons have been produced since the end of the Cold War. Integrated into the Department of the Navy’s Trident II “D5” Strategic Weapon System, the first W76 entered the stockpile in 1978.

Of course, this is just a symptom of a much larger problem, all our nuclear warheads are many decades old and their reliability is becoming a serious issue.

Sure, the DOD and DOE have been pushing inventory modernization and replacement for what seems like forever, but guess what? The Democrats have blocked it every step of the way. And, rest assured, Obama doesn’t want anything to do with anything that contains the word nuclear, not nuclear power plants and especially not nuclear weapons. No Nukes . . . For US

See also:
How the US forgot how to make Trident missiles
Audit: Problems at Y-12
NNSA and DOD Need to More Effectively Manage the Stockpile Life Extension Program
Trident missiles delayed by mystery ingredient
Teller-Ulam design
W76-0/Mk4 / W76-1/Mk4A
Trident II D-5 Fleet Ballistic Missile
SSBN-726 Ohio-Class FBM Submarines
Y-12 National Security Complex
National Nuclear Security Administration
Department of Energy
Department of Defense
Government Accountability Office

The bottom line is that the United States needs to get serious as to whether or not it wants to maintain a credible nuclear deterrent, the kind of nuclear deterrent that has prevented a thermonuclear exchange for over 60 years now. Yes, this country has other issues and problems that weigh more heavily at the average citizen’s kitchen table.

/just remember, without national security we have absolutely nothing and all the rest means diddley squat