In a challenge by 25 state, Judge Roger Vinson ruled that “because the individual mandate is unconstitutional and not severable, the entire Act must be declared void”
The dictator of Tunisia was overthrown in less than one month after being in power for 23 years. There is no question about how opponents of his regime were able to topple it. Two words describe it: Facebook, Twitter. These two social networking sites enabled protesters to take to the streets, organize the opposition, recruit new protesters, and overcome the police force and the military.
YouTube – Death of the Dollar Menu. The national debt is rising 47,000 dollars a second!
Following the release of the yesterday’s revised CBO projections, we, together with anyone with half a brain, were stunned by the ridiculous assumption that somehow the US government can grow its revenue by 50% (!) in the span of 3 years. Since absent a wholesale increase in taxes, which won’t happen ahead of the Obama presidential elections, this has a snowball’s chance in happening, the only recourse to the government is to cut spending. But where? Most major governmental expenditures are non-discretionary, yet spending has to be cut… Which brings us to the topic of this post: most likely the biggest sacrificial lamb will be companies on the dole of not only the US government, but certainly foreign governments (where unlike in the US, austerity is rampaging without mercy). Courtesy of data prepared by Lehman’s Mark Rothman we present the companies whose revenues are comprised at least 50% of sales to governments, both foreign and domestic.
“When the federal government spends money,” Paul’s overview of the plan explains, “those are resources that are drained from the state, diluted by way of large Washington bureaucracy, and sent back to the school districts with red tape and strings attached.”
“Washington provides at best, eight, nine, ten percent of money,” Duncan countered, “The vast majority of funding comes at the state and the local level, about 90 percent, and that is as it should be. What we all need to do is not invest in the status quo, but invest in this very different vision.”