U.S. Fears Iraq Won't Keep Up Rebuilt Projects

Nov 21, 2009 - BAGHDAD — In its largest reconstruction effort since the Marshall Plan, the United States government has spent $53 billion for relief and reconstruction in Iraq since the 2003 invasion, building tens of thousands of hospitals, water treatment plants, electricity substations, schools and bridges. But there are growing concerns among American officials that Iraq will not be able to adequately maintain the facilities once the Americans have left, potentially wasting hundreds of millions of dollars and jeopardizing Iraq’s ability to provide basic services to its people. The projects run the gamut — from a cutting-edge, $270 million water treatment plant in Nasiriya that works at a fraction of its intended capacity because it is too sophisticated for Iraqi workers to operate, to a farmers’ market that farmers cannot decide how to share, to a large American hospital closed immediately after it was handed over to Iraq because the government was unable to supply it with equipment, a medical staff or electricity. - 5 Comments

Insurance Company: No arm for 12-year-old Boy

Nov 17, 2009 - Benjamin French was born with his right arm missing below the elbow. In his 12 years, he has been fitted with seven prostheses. His most recent replacement will cost nearly $30,000 and his doctor says he will soon grow out of it. - 224 Comments

Closed Shop (or how Obama plans to get folks back to work)

Nov 12, 2009 - Closed Shop By Kevin Mooney on 11.12.09 @ 6:07AM Non-union construction workers could be locked out of new federal projects thanks to an executive order President Obama signed back in February on the sly as part of a payback to organized labor. The election of Republican governors in Virginia, and especially New Jersey, who are both opposed to union-only favoritism in contracting, could complicate the administration’s efforts, at least on the state level. The loss of New Jersey must be viewed as a particularly acute setback, given how active labor bosses and White House operatives were in their failed effort to secure re-election for a long-time ally. - 5 Comments

UN Budgets and Follow the Money

Nov 09, 2009 - UN Budgets and Follow the Money Kenneth Anderson • November 8, 2009 9:01 pm The New York Times reports on budget season at the UN and various battles hotting up. It’s a good piece by Neil MacFarquhar, dated November 7, 2009. As the article says, that fact that it costs the United Nations an average of $2,473 per page to create every single document in its six official languages, while outside contractors complete the same work for around $450, prompts diplomats to accuse the organization of running amok during a global financial crisis. - 0 Comments

'Obscure Tea-Bagging Operation'

Nov 06, 2009 - 'Obscure Tea-Bagging Operation' http://www.futureofcapitalism.com/2009/11/obscure-tea-bagging-operation The Goldman Sachs-funded business news watchdog blog at the Columbia Journalism Review goes after a fellow non-profit news organization, ProPublica, for a ProPublica article on wasteful stimulus spending. Columbia Journalism Review criticizes ProPublica for using a quotation from a spokeswoman for Citizens Against Government Waste, which Columbia Journalism Review sneeringly and condescendingly and dismissively and, well, offensively, characterizes as "some obscure tea-bagging operation." Citizens Against Government Waste has been around since 1984, and its 2007 IRS Form 990 indicates it had revenue and expenses of about $4.4 million, more if you include an affiliated 501(c)4 group. - 0 Comments

$787 billion not even 30,000 jobs, overstated by least 5,000 jobs, according to an Associated Press review of a sample of stimu

Oct 29, 2009 - Stimulus jobs overstated by thousands By BRETT J. BLACKLEDGE and MATT APUZZO WASHINGTON (AP) - An early progress report on President Barack Obama's economic recovery plan overstates by thousands the number of jobs created or saved through the stimulus program, a mistake that White House officials promise will be corrected in future reports. The government's first accounting of jobs tied to the $787 billion stimulus program claimed more than 30,000 positions paid for with recovery money. - 2 Comments

An interesting read: Treasury Inc.: The Shadow National Debt

Oct 20, 2009 - Treasury Inc.: The Shadow National Debt J.W. Verret, guest-blogging • October 20, 2009 2:31 am (SPOILER…This post describes how most of the NATIONAL DEBT and BUDGET DEFICIT is being FRAUDULENTLY HIDDEN by the OBAMA ADMINISTRATION) It has been a rare opportunity to share with this forum my new paper, Treasury Inc.: How the Bailout Reshapes Corporate Theory and Practice, forthcoming with the Yale Journal on Regulation and available here. This week we have enjoyed a rigorous discussion about the implications of the government as a shareholder in the financial services and automotive industries. - 1 Comment