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wasteful spending
My Solution to Fix the Federal Spending Problem
Only in America can a single mother of three working a full-time minimum wage job have more disposable income than a family of four earning $50K/yr. In fact, that $50K for a family of four is about the cut off for living on the government dole. Depending on the size of their mortgage and if they had enough medical expenses to itemize, they can actually still come out a couple hundred dollars ahead in their refund vs. what they actually paid in. By the way, if that single mother of two earned $60K, or $30/hr, she'd still pay no federal income taxes.
The American Dream is supposed to be success, but when I look at being successful, I see how much of a larger percentage of my income that is being forced to go some place else. The average household in America earns about $50K/yr. That comes out to approximately $12.50/hr if both parents work and make the same wage. At that point, they pay 15% of their income in federal taxes (before deductions).
$181,406 Grant Awarded to Study Cocaine-related Libido Enhancement
From CNSNews.com:
The National Institutes of Health (NIH) has awarded $181,406 this year to a researcher at the University of Kentucky to study how cocaine enhances the sex drive of Japanese quail.
...
NIH spokesman Don Rabolvsky said that the research has value because many cases of HIV/AIDS are spread through drug-related sexual behavior.
Wow. (Although, that's nothing compared to this.)
Fannie Loves the Printing Press
From CNN Money:
NEW YORK (CNNMoney.com) -- Fannie Mae requested another $8.4 billion from the federal government on Monday, saying that it expects its losses to continue because of trends in the housing and financial markets.
The government-controlled mortgage giant said it lost $11.5 billion in the first quarter of 2010, its 12th consecutive quarterly loss. In addition, Fannie paid out $1.5 billion dividend to the Treasury, which received stock after the government took it over in September 2008....
Fannie's request for more federal funds comes just four days after Fannie's twin Freddie Mac also asked for a handout - to the tune of $10.6 billion - after posting an $8 billion quarterly loss....
