Wintery Knight

…integrating Christian faith and knowledge in the public square

Nancy Pelosi’s brother-in-law gets $737M of taxpayers’ money to build solar plant

From the UK Daily Mail.

Excerpt:

Nancy Pelosi is facing accusations of cronyism after a solar energy project, which her brother-in-law has a stake in, landed a $737 million loan guarantee from the Department of Energy, despite the growing Solyndra scandal.

The massive loan agreement is raising new concerns about the use of taxpayers’ money as vast sums are invested in technology similar to that of the doomed energy project.

The investment has intensified the debate over the effectiveness of solar energy as a major power source.

The SolarReserve project is backed by an energy investment fund where the Minority Leader’s brother-in-law Ronald Pelosi is second in command.

PCG Clean Energy & Technology Fund (East) LLC is listed as one of the investors in the project that has been given the staggering loan, which even dwarfs that given to failed company Solyndra.

Other investors include one of the major investors in Solyndra, which is run by one of the directors of Solyndra.

Steve Mitchell, who served on the board of directors at the bankrupt energy company, is also managing director of Argonaut Private Equity, which has invested in the latest project.

Since Solyndra has filed for bankruptcy has been asked to testify about the goings on at the firm by two members of the House and ‘asked to provide documents to Congress’.

[...]The project approval came as part of $1 billion in new loans to green energy companies yesterday.

Did they learn anything from Solyndra? No:

‘The administration’s flagship project Solyndra is bankrupt and being investigated by the FBI, the promised jobs never materialised, and now the Department of Energy is preparing to rush out nearly $5 billion in loans in the final 48 hours before stimulus funds expire — that’s nearly $105 million every hour that must be finalised until the deadline,’ said Florida representative Cliff Stearns, who is chairman of the investigations subcommittee of the House Committee on Energy and Commerce.

Since Nancy Pelosi took over federal spending in January 2007, the national debt has increased from $8.5 trillion to about $17.5 trillion. That’s NINE TRILLION dollars in new spending. And much of it just handed off to the people and groups who got the Democrats elected 2008 and 2012.

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This year, 70% of all government spending will be direct payments to individuals

Investors Business Daily reports.

Excerpt:

Buried deep in a section of President Obama’s budget, released this week, is an eye-opening fact: This year, 70% of all the money the federal government spends will be in the form of direct payments to individuals, an all-time high.

In effect, the government has become primarily a massive money-transfer machine, taking $2.6 trillion from some and handing it back out to others. These government transfers now account for 15% of GDP, another all-time high. In 1991, direct payments accounted for less than half the budget and 10% of GDP.

What’s more, the cost of these direct payments is exploding. Even after adjusting for inflation, they’ve shot up 29% under Obama.

Where do these checks go? The biggest chunk, 38.6%, goes to pay health bills, either through Medicare, Medicaid or ObamaCare. A third goes out in the form of Social Security checks. Only 21% goes toward poverty programs — or “income security” as it’s labeled in the budget — and a mere 5% ends up in the hands of veterans.

So a lot of the money is not even going for poverty! More:

Instead, a surprisingly large amount of federal money is handed out to wealthy Americans through Social Security, Medicare, farm subsidies, unemployment benefits, conservation programs, disaster payments and other programs.

An IBD analysis found that the richest 1% of Americans, in fact, receive roughly $10 billion each year in federal checks.

Outgoing Sen. Tom Coburn, R-Okla., who exposed these vast payment programs available to the rich, said “this reverse Robin Hood-style of wealth distribution is an intentional effort to get all Americans bought into a system where everyone appears to benefit.”

Why is this bad? It’s because government only spends the money that it collects from other individuals and businesses. They should be spending that money on government responsibilities like roads, the military and foreign policy. Not redistributing wealth to particular people. That just makes a certain segment of the population dependent on government and makes them more likely to vote for bigger government. Government is notoriously terrible at knowing who is really in need of help. Plus, private charities are more likely to push poor people in the direction of independence and responsibility. Government basically says, “here’s the money, and keep doing whatever you’re doing because we don’t have a plan for you to get out of poverty”.

We don’t want to be the kind of country that punishes people for working or for starting businesses, but it seems like that is the direction we are heading in.

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State department: not building the Keystone XL pipeline could increase greenhouse gas emissions

From CNS News.

Excerpt:

Not building the 875-mile Keystone XL Pipeline could result in the release of up to 42 percent more greenhouse gases than would be released by building it, according to the State Department.

Not building the pipeline “is unlikely to significantly impact the rate of extraction in the [Canadian] oil sands or the continued demand for heavy crude oil at refineries in the United States,” the department noted in a long-awaited environmental report released January 31st.

But the “No Build” option is likely to result in an increased number of oil spills, six more deaths annually, and up to 42 percent higher greenhouse gas (GHG) emissions, the State Department concluded.

The proposed 36-inch pipeline would transport 830,000 barrels of crude oil each day from western Canada through the Bakken oil fields of Montana and South Dakota before connecting to an existing pipeline in Nebraska on its way to Gulf Coast refineries.

The project will create an estimated 42,100 jobs and add $3.4 billion to the U.S. economy.

This report follows last week’s report showing that the pipeline would have no major environmental impact.

Excerpt:

The long-delayed Keystone XL oil pipeline cleared a major hurdle toward approval Friday, a serious blow to environmentalists’ hopes that President Barack Obama will block the controversial project running more than 1,000 miles from Canada through the heart of the U.S.

The State Department reported no major environmental objections to the proposed $7 billion pipeline, which has become a symbol of the political debate over climate change. Republicans and some oil- and gas-producing states in the U.S. — as well as Canada’s minister of natural resources — cheered the report, but it further rankled environmentalists already at odds with Obama and his energy policy.

Now the State Department is one of the most liberal departments in the government. Unfortunately, this has not appeased the great climate science experts in Hollywood, who donate so much money to Democrat election campaigns. So long as the money keeps flowing from the high school drop-out celebrities, don’t expect this pipeline to get built. For the Democrats, it’s all about staying in power.

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UK survey: nearly 60% of working moms would cut their work hours if they could afford to

Dina tweeted this UK Daily Mail article that made me think about how women vote.

Excerpt:

More than a third of working mothers would like to give up their jobs completely and stay at home with their children, a major Government survey has found.

It showed that millions of mothers of young children who go out to work do so only because they need to work to pay the bills.

The research for the Department for Education found that, far from being anxious to get out of their homes and into employment, the great majority of mothers are only reluctant workers.

Nearly six out of ten of all working mothers would cut down their hours to spend more time with their families if they could afford to, it said.

The yearning among mothers to leave their jobs and look after their children instead is even more pronounced among the highest achieving women, the  survey indicated.

More than two-thirds of those in senior and middle management roles would spend fewer hours in the office and devote more time to their children if they had enough money, it said.

[...]Yesterday’s survey also undermines the claims that prejudice and discrimination against women in male-dominated companies is the reason why women are heavily outnumbered in the boardroom.

Rather, it suggests that many women who could get to the top in business choose instead to put their children before their careers.

The problem is that when government gives people free stuff, people who work have to work more to pay for it. And the strangest thing is that even though women seem to want to stay home with their kids (which is good), when it comes time to vote, they actually vote NOT to stay home with their kids. How? By growing the size of government, which results in higher taxes. To find out what women really think about staying home with their kids, we can look at how they vote. 

Women voted 55 to 44 for Obama

Women voted 56-44 for more government spending in 2012

CNN reports on how women voted in the 2012 election:

According to CNN’s exit polls, 55% of women and 45% of men voted for Obama and 44% of women and 52% of men voted for Romney. That level of female support for the president made an especially big impact in swing states like Ohio where the gender breakdown mirrored the national figures.

[...]There are some indications that social issues directly impacting women might have helped sway votes in some states.

Tuesday’s early exit polls showed 51% of Missouri voters said they believed abortion should be legal all or most of the time. Of those voters, exit polls showed 76% supported Democratic incumbent Claire McCaskill, who won Tuesday night, while 19% voted for Akin.

Forty-seven percent of Missouri’s voters said abortion should be illegal. Exit polls showed Akin netted 67% of this group’s votes while 27% of people who think abortion should be illegal supported McCaskill.

But much more than social issues, pocketbook economic issues most concerned women voters, exit polling showed.

“Women like all voters felt the economics were most important,” Swers said. “Women tend to be more supportive of government spending… than men are … so they were less responsive to Romney in that way and more responsive to Obama’s message on empathy and helping the middle class.”

Gallup reported that the gender gap in the 2012 election was actually 20 points. That was the largest ever measured in a Presidential election. The actual vote for Obama among women, according to Gallup, was 56-44.

More government means higher taxes

Women are also more pro-abortion more than men

Here is a peer-reviewed research paper that shows the problem that we need to warn women about, so that they vote smarter.

The abstract reads:

This paper examines the growth of government during this century as a result of giving women the right to vote. Using cross‐sectional time‐series data for 1870–1940, we examine state government expenditures and revenue as well as voting by U.S. House and Senate state delegations and the passage of a wide range of different state laws. Suffrage coincided with immediate increases in state government expenditures and revenue and more liberal voting patterns for federal representatives, and these effects continued growing over time as more women took advantage of the franchise. Contrary to many recent suggestions, the gender gap is not something that has arisen since the 1970s, and it helps explain why American government started growing when it did.

When people vote for government to do more for everyone else, then men who work have to pay more in taxes.

Women for bigger government, higher taxes

Women vote for higher taxes, so they have to work more

If women want to stay home with their children more, then they need to vote for their husbands (present or future) to pay less in taxes when they work. That means voting for smaller government, more liberty and more personal responsibility. Until women get to the point of connecting their future plans (marriage and parenting) for their lives with their current voting, this situation is not going to change. Marriages run on money. It’s no good to urge men to “man-up” and then take away their ability to provide by taxing more of their earnings to pay for Sandra Fluke’s birth control pills and abortions. Keep the money in the family, and then you can stay home with the kids more.

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Big government spending is suffocating the next generation with debt

Youth unemployment by ethnicity (5/13)

Youth unemployment by ethnicity (5/13)

Libertarian economist Veronique de Rugy writes about it in Reason magazine.

Excerpt:

A word of caution for kids heading off to college this year: Your degree may be worth less and cost more than you think. Your job prospects will likely be grim, whether or not you get that sheepskin. Oh, and you’re on the hook for trillions in federal debt racked up by your parents and grandparents.

Washington has willfully ignored the looming crisis of entitlement spending, knowingly consigning young Americans to a future of crushing debt, persistent underemployment, and burdensome regulation. Politicians on both sides of the aisle share the blame.

This summer, Congress made a big bipartisan show of cutting student loan rates to 3.4 percent from an already artificially low 6.8 percent. But even that seemingly helpful gesture will wind up hurting the Americans it claims to help. Federal student aid, whether in the form of grants or loans, is the main factor behind the runaway cost of higher education. Subsidies raise prices, leading to higher subsidies, which raise prices even more. This higher education bubble, like the housing bubble before it, will eventually pop. Meanwhile, large numbers of students will graduate with more debt than they would have in an unsubsidized market.

And when those new, debt-laden graduates head out into the labor market with their overpriced diplomas, they may not be able to find a job. According to data provided to me by my Mercatus Center colleague, former Bureau of Labor Statistics (BLS) commissioner Keith Hall, fewer than half of Americans today between the ages of 18 and 25 are employed. For those in that cohort actively on the job market, the unemployment rate is 16 percent, versus 6 percent for job-seekers aged 25 and above.

These young folks are also more likely to be long-term unemployed: While accounting for just 14 percent of the labor force, they make up 19 percent of the long-term unemployed, defined by the BLS as 27 weeks or longer.

The lucky few young’uns with jobs of some kind also suffer from rampant underemployment. In a recent blog post, Diana Carew of the Progressive Policy Institute wrote: “In July 2013, just 36 percent of Americans age 16-24 not enrolled in school worked full-time, 10 percent less than in July 2007.” In other words, of these 17 million young Americans, 5.6 million were working part-time, 3.2 million were unemployed, and 8.4 million were out of the labor force altogether.

I really recommend you read the rest of the article, especially if you aren’t following what Obama’s policies are doing to our economy. Special attention is given to the effects of Obamacare on job creation.

Just as a community service, I want to post for you young people (and your parents) a list of the majors that lead to higher paying jobs:

Top 10 highest-paid college majors

  1. Petroleum Engineering: $120,000
  2. Pharmacy Pharmaceutical Sciences and Administration: $105,000
  3. Mathematics and Computer Science: $98,000
  4. Aerospace Engineering: $87,000
  5. Chemical Engineering: $86,000
  6. Electrical Engineering: $85,000
  7. Naval Architecture and Marine Engineering: $82,000
  8. Mechanical Engineering: $80,000
  9. Metallurgical Engineering: $80,000
  10.  Mining and Mineral Engineering: $80,000

And here are some majors that you should avoid at all costs:

  1. Counseling Psychology: $29,000
  2. Early Childhood Education: $36,000
  3. Theology and Religious Vocations: $38,000
  4. Human Services and Community Organization: $38,000
  5. Social Work: $39,000
  6. Drama and Theater Arts: $40,000
  7. Studio Arts: $40,000
  8. Communication Disorders Sciences and Service: $40,000
  9. Visual and Performing Arts: $40,000
  10. Health and Medical Preparatory Programs: $40,000

So young people need to be careful what they study in order to get a job that will allow them to pay off all the government debts that their teachers were busy running up. Their teachers taught them that government spending was good, but their teachers aren’t going to be paying for the government spending. They are the beneficiaries of the increased government spending. The pupils are the ones who will have to work to pay for the spending on the social programs enjoyed by their teachers.

It’s very important for young Christians to understand that degrees are getting more expensive, and it’s important to choose a field that is going to produce a return on your investment. Not only do STEM (science, technology, engineering and math) degrees get you a job that pays, but it has other benefits. For example STEM degrees grind out every last bit of impracticality and entitlement-feeling out of you – because in a STEM program, no one cares about your “specialness”. You solve problems or you fail the class. It’s not a situation where you can just repeat what the professor says in order to get good grades, as is often (but not always) the case in the humanities. 

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