When looking at the Fed's accounting of its loan programs, the impression is given that many are in fact producing a profit for taxpayers. That is untrue.
In a recent article, Politico uncovered the loan debacle with the Maritime Administration (MarAd). It was headed for one of the biggest loan defaults since 2001. David Matsuda took the leadership of MarAd, and found himself in the position of "Uncle Sam's repo man" of massive ships scattered around the globe.
This is alarming when coupled with the US's national debt and 100 trillion dollars in unfunded liabilities
Confirmed: Our U.S. President negotiated the homecoming of Beau Bergdahl with cash. Lots of cash. Five billion dollars in cash.
Reports this week tell the grim story that not only was a huge sum of cash paid directly to the Taliban, but that also incredibly dangerous terrorists were released for Beau Bergdahl. Not to be forgotten are the widespread reports and eyewitness testimony with compelling evidence that Bergdahl was not a prisoner of war, but a deserter of his military post.
While allowing the sticker shock of the sheer dollars paid for this unprecedented release, let's use a familiar scenario to demonstrate the injustice of the negotiation.
The US is sitting at a blackjack table. In it's possession are several things. Chips. Lots of chips. Thousands of dollars of chips. The strategy up to this point in the game has paid off, and the US has a chest of chips. In addition, a peek under the cards shows a pair of kings.
Pan over to the dealer. He is saying he'll do you a favor if you go for the ace. However, not only must you lose this hand, but you must lose all your chips as well. You can come back and play again.
So the US makes a grave mistake. It goes for the favor the dealer promises even though the US has "all the chips". It has the cash and it has the cards. It's handed over for the favor.
What was that favor? A chip. Afterall, the promise was that the US gets to come back and play again. But the power shifted. The dealer has the cards and the multitude of chips.
The US handed a lot of money, funding known terrorists, for a man who deserted his county. We played that hand very badly.
- Dec 23, 2014
As a recent study done by the Heritage Foundation shows, a combination of incentives, waste and lack of incentives for getting off food stamps will make the skyrocket in coming years.
Oregon takes advantage of a federal program that incentivizes states to increase enrollment on food stamps. While Oregon takes advantage of those incentives, one would wish for this holiday season that policy makers would be just as aggressive in preventing fraud.
Another perspective might be helpful. Oregon desires the incentives of the federal program instead of the outgoing consequences...much like those individuals who commit food stamp fraud.
