Archive for the ‘Bankruptcy’ Category

L.A. MADE $1.3 BILLION IN ILLEGAL IMMIGRANT WELFARE PAYOUTS IN 2 YEARS

Friday, August 4th, 2017

 

This is taxpayer money that could instead be used for rebuilding our roads, bridges, airports,  medical  research, failing inner city school systems, job retraining programs, the list of worthwhile programs is endless.   Instead, the money is being spent on those who are here illegally.  Have you all heard of  Cloward-Piven, which is  overwhelming the system until it collapses !  
Earlier this evening, I posted  an article on California’s expansion of Medicaid (Medi-Cal).  Just one more example of overwhelming the system with people on welfare.     What is needed is job training programs to get  people out of poverty, not paying them to  stay in poverty.    I think it was Ben Carson  who said you don’t want to make people so comfortable in poverty that they stay in poverty !  One of our readers wrote to me today that she owns a small business and she offered a job to someone who declined  the job offer  because the person made more money staying at home and collecting welfare.   Nancy   

LA made $1.3B in illegal immigrant welfare payouts in just 2 years

     Illegal immigrant families received nearly $1.3 billion in Los Angeles County welfare money during 2015 and 2016, nearly one-​quarter of the amount spent on the county’s entire needy population, according to data obtained by Fox News.

The data was obtained from the county Department of Public Social Services — which is responsible for doling out the benefits — and gives a snapshot of the financial costs associated with sanctuary and related policies.

The sanctuary county of Los Angeles is an illegal immigration epicenter, with the largest concentration of any county ​in the nation, according to a study from the Migration Policy Institute. ​The county also allows illegal immigrant parents with children born in the United States to seek welfare and food stamp benefits.

Robert Rector, a Heritage Foundation senior fellow who has written extensive studies on poverty and illegal immigration, said the costs represent “the tip of the iceberg.”

(more…)

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OBAMA-CLOWARD-PIVEN-SOROS-SAUL ALINSKY-ACORN

Monday, September 26th, 2016

 

www.americanthinker.com/articles/2008/09/barack_obama_and_the_strategy.html

  
AMERICAN THINKER

 

September 28, 2008

Barack Obama and the Strategy of Manufactured Crisis

 

By James Simpson  James Simpson is a former White House  staff economist  and budget analyst.  His writings have been published in American Thinker, Washington Times, FrontPage Magazine, Defense Watch, Soldier of Fortune and others.

 

America waits with bated breath while Washington struggles to bring the U.S. economy back from the brink of disaster. But many of those same politicians caused the crisis, and if left to their own devices will do so again.

Despite the mass media news blackout, a series of books, talk radio and the blogosphere have managed to expose Barack Obama’s connections to his radical mentors — Weather Underground bombers William Ayers and Bernardine Dohrn, Communist Party member Frank Marshall Davis and others. David Horowitz and hisDiscover the Networks.org have also contributed a wealth of information and have noted Obama’s radical connections since the beginning.

Yet, no one to my knowledge has yet connected all the dots between Barack Obama and the Radical Left. When seen together, the influences on Obama’s life comprise a who’s who of the radical leftist movement, and it becomes painfully apparent that not only is Obama a willing participant in that movement, he has spent most of his adult life deeply immersed in it.

But even this doesn’t fully describe the extreme nature of this candidate. He can be tied directly to a malevolent overarching strategy that has motivated many, if not all, of the most destructive radical leftist organizations in the United States since the 1960s.

The Cloward-Piven Strategy of Orchestrated Crisis

In an earlier post, I noted the liberal record of unmitigated legislative disasters, the latest of which is now being played out in the financial markets before our eyes. Before the 1994 Republican takeover, Democrats had sixty years of virtually unbroken power in Congress – with substantial majorities most of the time. Can a group of smart people, studying issue after issue for years on end, with virtually unlimited resources at their command, not come up with a single policy that works? Why are they chronically incapable?

Why?

One of two things must be true. Either the Democrats are unfathomable idiots, who ignorantly pursue ever more destructive policies despite decades of contrary evidence, or they understand the consequences of their actions and relentlessly carry on anyway because they somehow benefit.

I submit to you they understand the consequences. For many it is simply a practical matter of eliciting votes from a targeted constituency at taxpayer expense; we lose a little, they gain a lot, and the politician keeps his job. But for others, the goal is more malevolent – the failure is deliberate. Don’t laugh. This method not only has its proponents, it has a name: the Cloward-Piven Strategy. It describes their agenda, tactics, and long-term strategy.

(more…)

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BARACK OBAMA AND THE STRATEGY OF MANUFACTURED CRISIS

Saturday, September 24th, 2016

 

www.americanthinker.com/articles/2008/09/barack_obama_and_the_strategy.html

Barack Obama and the Strategy of Manufactured Crisis

America waits with bated breath while Washington struggles to bring the U.S. economy back from the brink of disaster. But many of those same politicians caused the crisis, and if left to their own devices will do so again.

Despite the mass media news blackout, a series of books, talk radio and the blogosphere have managed to expose Barack Obama’s connections to his radical mentors — Weather Underground bombers William Ayers and Bernardine Dohrn, Communist Party member Frank Marshall Davis and others. David Horowitz and hisDiscover the Networks.org have also contributed a wealth of information and have noted Obama’s radical connections since the beginning.
Yet, no one to my knowledge has yet connected all the dots between Barack Obama and the Radical Left. When seen together, the influences on Obama’s life comprise a who’s who of the radical leftist movement, and it becomes painfully apparent that not only is Obama a willing participant in that movement, he has spent most of his adult life deeply immersed in it.
But even this doesn’t fully describe the extreme nature of this candidate. He can be tied directly to a malevolent overarching strategy that has motivated many, if not all, of the most destructive radical leftist organizations in the United States since the 1960s.
The Cloward-Piven Strategy of Orchestrated Crisis
In an earlier post, I noted the liberal record of unmitigated legislative disasters, the latest of which is now being played out in the financial markets before our eyes. Before the 1994 Republican takeover, Democrats had sixty years of virtually unbroken power in Congress – with substantial majorities most of the time. Can a group of smart people, studying issue after issue for years on end, with virtually unlimited resources at their command, not come up with a single policy that works? Why are they chronically incapable?
Why?
One of two things must be true. Either the Democrats are unfathomable idiots, who ignorantly pursue ever more destructive policies despite decades of contrary evidence, or they understand the consequences of their actions and relentlessly carry on anyway because they somehow benefit.
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HAVE YOU CHECKED YOUR RISK LEVEL LATELY?

Wednesday, August 31st, 2016

 

THE WALL STREET JOURNAL

Have You Checked Your Risk Level Lately?

Federal obligations and guarantees have ballooned since 2009. Taxpayers are on the hook for trillions.

If you asked most Americans how much loan risk they’ve undertaken over the last decade, they would probably look puzzled. Few are in the lending business.

But how about the risk Americans have taken on collectively, through the lending and loan guarantees of the federal government? The exposure of taxpayers to delinquencies and defaults on federal loans and guarantees has ballooned since 2009. Add that to the soaring national debt and the excessive obligations of federal entitlement programs and you have what some might call an “existential” issue.

“Stimulus” programs have more than doubled the national debt—while providing little stimulus—since Barack Obama took office. The budgetary cost of servicing that debt will double over the next decade, even if the Federal Reserve manages to keep interest rates at current low levels. It’s also widely understood that without serious reforms there is no way the government can fulfill the promises made to oldsters and the disabled by Social Security and other safety-net programs.

(more…)

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THE OBAMA DEBT LEGACY

Wednesday, August 31st, 2016

 

THE WALL STREET JOURNAL

Another Obama Parting Gift

His final fiscal year federal budget deficit will increase by 35%.

President Obama in the White House briefing room on June 23.ENLARGE
President Obama in the White House briefing room on June 23. PHOTO: ASSOCIATED PRESS

As President Obama ends his second term, he’s leaving plenty of political parting gifts. The latest is a 35% single-year increase in the federal budget deficit, and a rising trajectory of spending and debt as a share of the economy. Hillary Clinton’s campaign promise of more “stimulus” spending next year suddenly looks a lot more politically problematic.

That’s the story you haven’t read from the Congressional Budget Office’s latest fiscal and economic outlook released this week. For the 2016 fiscal year that ends next month, CBO now forecasts that revenues will rise by only $26 billion while outlays will increase by some $178 billion. The federal deficit will therefore rise from $438 billion to $590 billion, the biggest deficit since 2013.

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THE CLINTONS AND THE REAL HOUSING CRASH

Thursday, June 16th, 2016

 

Are the Clintons the Real Housing-Crash Villains?

Let’s revisit this piece of financial history, before Hillary rewrites it.

By Larry Kudlow & Stephen Moore– Larry Kudlow is a contributing editor of National Review. Stephen Moore is chief economist at the Heritage Foundation.— May 28, 2016

EXCERPT FROM THIS ARTICLE:  The seeds of the mortgage meltdown were planted during Bill Clinton’s presidency. Under his HUD secretary Andrew Cuomo, Community Reinvestment Act regulators gave banks higher ratings for home loans made in “credit-deprived” areas. Banks were effectively rewarded for throwing out sound underwriting standards and writing loans to those who were at high risk of defaulting. If banks didn’t comply with these rules, regulators reined in their ability to expand lending and deposits.
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COLLEGE LOAN GLUT TURNS SOUR

Thursday, June 9th, 2016

 

Is it any wonder the “free college” promises of  Bernie Sanders has appealed to our youth?   For an explanation of who pays for “free college”, watch the Bill Whittle video .    Nancy
THE WALL STREET JOURNAL

College Loan Glut Worries Policy Makers

Massive investment in improving skills turns sour, echoes of housing crisis

New research shows a significant chunk of the U.S. investment in college education backfired, with millions of students worse off for having gone to school.ENLARGE
New research shows a significant chunk of the U.S. investment in college education backfired, with millions of students worse off for having gone to school. PHOTO: ANN HERMES/THE CHRISTIAN SCIENCE MONITOR/GETTY IMAGES

The U.S. government over the last 15 years made a trillion-dollar investment to improve the nation’s workforce, productivity and economy. A big portion of that investment has now turned toxic, with echoes of the housing crisis.

The investment was in “human capital,” or, more specifically, higher education. The government helped finance tens of millions of tuitions as enrollment in U.S. colleges and graduate schools soared 24% from 2002 to 2012, rivaling the higher-education boom of the 1970s. Millions of others attended trade schools that award career certificates.

The government financed a large share of these educations through grants, low-interest loans and loan guarantees. Total outstanding student debt—almost all guaranteed or made directly by the federal government—has quadrupled since 2000 to $1.2 trillion today. The government also spent tens of billions of dollars in grants and tax credits for students.

New research shows a significant chunk of that investment backfired, with millions of students worse off for having gone to school. Many never learned new skills because they dropped out—and now carry debt they are unwilling or unable to repay. Policy makers worry that without a bigger intervention, those borrowers will become trapped for years and will ultimately hurt, rather than help, the nation’s economy.

(more…)

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THE GREEN WAR AGAINST THE WORKING CLASS

Thursday, April 28th, 2016

 

The Green War Against the Working Class

Stephen Moore /  /  COMMENTARY BY

The latest evidence came last week when another coal giant in America, Peabody Energy Corp., declared bankruptcy. This is the same fate suffered by Arch Coal Inc., Alpha Natural Resources Inc., and other coal producers that have filed for Chapter 11 protection from creditors.

Peabody has stated that the lower cost of natural gas may have been a factor in their decline, and I am all for market competition, but this isn’t a result of free market creative destruction. This was largely a policy strategy by the White House and green groups.

They wanted this to happen. This was what Clean Power Plant rules from the Environmental Protection Agency were all about.

The EPA set standards by design that were impossible to meet and even flouted the law that says the regulations should be “commercially achievable.” This was a key component of the climate change fanaticism that pervades this White House.

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FANNIE AND FREDDIE FOREVER

Thursday, December 31st, 2015

 

THE WALL STREET JOURNAL
FANNIE AND FREDDIE FOREVER
Prior to the financial crisis of 2008, these two government-created behemoths owned or guaranteed more than $5 trillion in mortgage debt. When the housing boom went bust, taxpayers were forced to provide a $188 billion bailout to the toxic twins—and endure an historic financial crisis. So the taxpayer interest is in shrinking and eventually shutting down Fan and Fred.
But these days the Federal Housing Finance Agency that supervises the twins under federal “conservatorship” seems to view itself as the official preserver of Fan and Fred’s market share. So instead of simply telling the mortgage giants to stop buying and guaranteeing so many mortgages, the regulator has been encouraging the use of ever more complex financial instruments to keep Fan and Fred at the center of this multi-trillion-dollar market.

One Fan and Fred innovation—check your wallet when that word is used in government—is to use synthetic collateralized debt obligations (CDOs) to offload some of the mortgage risk they are holding. These new instruments are essentially a way for the mortgage giants to buy insurance against the possibility that lots of mortgage borrowers don’t repay the money they owe. But how about simply not holding these risks in the first place? Then taxpayers would have no need for insurance.
Fan and Fred are selling the CDOs to private investors, who are getting compensated with juicy yields in return for theoretically accepting much of the default risk in Fan and Fred’s bundles of mortgages. The program is ramping up and now covers at least some of the risks on more than $800 billion in mortgages of the more than $4 trillion that Fan and Fred still own or guarantee.
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VIDEO – THE WINNER OF THE CNN DEMOCRAT PRESIDENTIAL DEBATE IS…..

Tuesday, October 20th, 2015

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