White House budget found to have “fuzzy math” on war estimates, new role for federal government to provide broadband Internet, U.S. gives Palestinians $900 million, Harvard economist says bailing out homeowners is a mistake, 4th Obama appointee found evading taxes, bank Nationalists look to Sweden, temporary nationalization of mortgage industry now permanent, 1 in 31 adults behind bars in U.S., Australia leaves benchmark rate unchanged, and Bush memos claim unfettered rendition powers…just the latest in your Freedom Under Fire Report!
Everyday our liberties and freedom come under fire. The American Republic once protected its citizens from arbitrary abuse, extortion, and deliberate social engineering. Now the very same public servants who were meant to work for us connive daily on how to control our lives. The Republic is gone and we are left to fend for ourselves, to put up resistance to every encroachment on individual self-determination. The Freedom Under Fire Report provides daily coverage of the most important issues, so that you remain informed and ready to defend yourself. Read on and pass this around to everyone you think could benefit:
Obama’s Budget Found to Have “Fuzzy Math” on War Funding Estimates. President Obama’s budget to Congress has been found to contain questionable accounting for the wars in Iraq and Afghanistan, which significantly understate realistic costs going forward for planned operations and measure “savings” against phantom costs that were never intended to be incurred. This raises serious questions about the $3.6 trillion budget proposed to Congress by the White House.
New Role for Federal Government: Provide Broadband Internet. Although it’s not contained in the Constitution, President Obama intends to spend $7.2 billion to bring broadband lines to rural areas. It will put thousands of people to work, but critics say they will be worthlessly employed. Most people already have access to broadband, but choose not to use it. In fact, 91% of American homes have access to broadband, with only 57% choosing to use the services. Costs do not warrant benefits for many people, but President Obama thinks it best anyway.
U.S. Gives $900 million to Palestinians. Secretary of State Hillary Clinton announced a $900 million gift to Palestinians today, particularly those living in Gaza. The aid package must still be approved by Congress before funds can be released. Critics are concerned that this money is likely to end up in the hands of the Islamic militant group Hamas.
Harvard Economist: Bailing Out Homeowners is a Mistake. Senior Harvard lecturer in economics, Jeffrey A. Miron, states that President Obama’s $275 billion Homeowner Affordability and Stability Plan is a mistake. The main premise is that government must take resources from those who live in less expensive homes or rent, and who otherwise manage their finances better. Miron explains that there will be bad long term consequences to allocating too much of the nation’s capital to housing, rather than factories, research, and development.
Another of Obama’s Appointees Found Evading Taxes. A fourth Obama appointee-Texas Mayor Ron Kirk-has been found to have evaded paying nearly $10,000 in taxes. President obama nominated Kirk for the U.S. trade representative, but before he could be confirmed the Senate Finance Committee discovered the tax delinquency. The committee found that he failed to report $37,750 in honoraria as income, and tried to deduct $17,382 in NBA Mavericks tickets as a business expense.
Sweden Provides Example to Bank Nationalists. In an effort to steer financial institutions away from complete collapse, Sweden’s near brush with financial disaster in the 1990’s is argued to be the case study to which the U.S. and U.K. should be looking. Sweden’s formula includes complete nationalization of financial institutions until they regain their strength, followed by re-privatization. The strategy is to act quick and swiftly, not letting the situation deteriorate until the costs are too high to float to the tax payer. This approach is promoted as ‘free-market libertarian’, with the extreme socialist caveats due to the severity of the crisis.
Temporary Nationalization of Mortage Industry Turns Permanent. Despite assurances that the takeover of Fannie Mae and Freddie Mac would be temporary, the giant mortgage companies will most likely never fully return to private hands, lawmakers and company executives are beginning to acknowledge. To date, both companies have been given $400 billion in bailout money.
Prison Spending Gone Wild: 1 in 31 U.S. Adults is Behind Bars. One is every 31 adults, or 7.3 million Americans, is in prison, on parole or probation, at a cost of $47 billion in 2008. Criminal correction spending is outbacing budget growth in education, transporation, and public assistance-everything but Medicare.
Australia Leaves Benchmark Interest Rate Unchanged at 3.25%. In a surprise move contradictory to most global central banks, Australia kept its rate unchanged today at 3.25% for the first time in seven months. Governor Glenn Stevens feels as though current rates, which have already been significantly cut, and increased government spending, should be sufficient to stabilize the nation’s economy. As the rest of the world, including the U.S., U.K., EU, and Japan rush to unroll increasingly expensive stimulus plans, Australia’s move signals the first sign of confidence amongst major industrialized nations.
Bush Memo Cliams Unfettered Rendition Powers. A newly released Bush adminstration memo from 2002 claimed that the president has an unfettered right to transfer suspected terrorists to other governments without regard for whether they would be subject to torture. The document is one of nine made public Monday detailing the Bush administration’s expansive definition of presidential power.
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