As we’ve discussed many times Washington DC metro is by far the wealthiest metro area in the United States. There are pockets which are wealthier, parts of Manhattan, parts of San Francisco, but overall Washington has the most wealth and the broadest wealth. This is because over the last 20 years the cronies at various levels have amassed more of the country’s dough in the leafy suburbs of Northern Virginia and Southern Maryland. It is a land of government employees (who average total compensation of over $120,000 per year),
H R 597 YEA-AND-NAY 27-Oct-2015 6:32 PM
QUESTION: On Passage
BILL TITLE: Reform Exports and Expand the American Economy Act
The “tax extenders,” our old friend. In the past we noted how Obama gave away all the proceeds from his tax increase on the rich by giving these breaks to his particular cronies.
Veronique de Rugy has been a tireless opponent of crony capitalism generally and the Export-Import Bank specifically for a long time. I encourage everyone to follow her on Twitter a @veroderugy .
And she is right. Only a completely unprincipled Congress would resurrect Ex-Im. The Dems should be ashamed of completely capitulating before the giant corporations they so often criticize. The few Republicans which may join the Dems in breathing new life into “Boeing’s Bank”
Hey, he beat Jeb Bush in the straw poll.
Well, the civil war takes another one. Things have gotten real, real quick up on the Hill.
By Stefan Gleason
It’s campaign season, and that means non-stop media coverage of candidate polls, quips, gaffes, tweets, emails, controversies, lies, and scandals. It all makes for a good soap opera. Unfortunately, it’s almost all irrelevant in the big picture.
The media prefer to focus on the sideshow rather than the 800-pound gorilla in the room: the looming debt crisis. Nothing that comes out of a pundit’s mouth or a Hillary Clinton email will close the $210 trillion long-term fiscal gap the U.S.
Now this would be interesting. The Speaker of the House does not need to be a member of Congress so it’s kosher.
Such a thing would amount to a mini-revolution of sorts of course. As such it’s a pretty long long shot. (To say the least.) I don’t see the Chamber of Commerce or other special interests getting on board the Paul for Speaker bandwagon anytime, well, ever. But that really is the point though isn’t it?
We have no opinion on who should be Speaker.
Thanks for the tax dollars suckers!
GE is one of the great American crony companies. Jeff Immelt, once head of Obama’s “jobs council” and current CEO of General Electric, has played the crony game extremely well. First in securing emergency financing courtesy of the American taxpayers because it screwed up royally. And then he was able to exploit various Obama era boondoggles which funneled money GE’s way on an ongoing basis. (Think wind turbines etc.)
Now Mr. Immelt is stamping his feet because it looks like GE may permanently lose the the sweetheart deals it has at the taxpayer underwritten Export Bank.
At ACC we don’t have an opinion of who should be Speaker. That is up to members of the House. But Boehner does baffle us. The American people gave the House (and Senate) back to the Republicans largely in an act of collective defiance of the current president and his agenda. John Boehner seems more concerned about what the US Chamber of Commerce, the leading business special interest, tells him to do. There seems no interest from him in cutting the size of government or in moving a small government agenda forward.
At the trough.
Boeing is a big boy on Wall Street and in Washington DC and it isn’t going to let a bunch of free marketeers take its taxpayer underwritten boondoggle away from them if it can help it. What do these taxpayers think anyway? That America belongs to them? Man are they clueless. America belongs to companies like Boeing and the government apparatchiks who are sponsored by companies like Boeing.
This piece is from Alejandro Chafuen and it is 2 years old. But in light of the current Fed confab in Jackson Hole and the ongoing market twitches, drops, and government induced rallies I think it deserves another view.
Crony capitalism is a bipartisan endeavor. The Dems often get dinged pretty hard because they are particularly inclined toward mixing business and politics (and make no bones about it), but the Republicans love to do the the crony pony too.
Image: FITS News
OK, so you lose Ex-Im and the sweetheart deal which goes with it. So you decide to take your ball and go play – wherever – outside of the United States. Fine.
But it seems reasonable then, going forward, not to award Boeing any lucrative military projects. That’s only fair. Go live off the Swedish taxpayers. They like socialism.
It seems natural that a conservative would want to remove a non-conservative like Boehner as Speaker of the House.