Where is the Money Going?
College Tuition Climbing Faster than Income and Inflation
It is no wonder parents are having a tougher time these days sending their children to college. A new study by the Delta Cost Project shows college tuition at all institutions of higher learning is rising faster than income and inflation, based on... read more
Real Financial Reform Slips into Otherwise Bland Bill
After considerable dilution of the financial reform bill in Congress, it seems Wall Street’s supporters and lobbyists missed a provision that could lead to the breakup of large banks during another economic crisis.
As Simon Johnson, professor ... read more
Boom Times for Millionaires
Wealth accumulation among the richest North Americans (excluding Mexico) grew in 2009, with millionaires in the U.S. and Canada enjoying a 15% increase in their total worth. Collectively, these millionaires possessed $4.6 trillion, according to a ... read more
Federal Government Finally Decides to Buy in Bulk
What millions of Americans have known for years, the U.S. government just figured out: It pays to buy in bulk.
To cut down on government spending, the Office of Management and Budget announced that federal agencies will now work together when ... read more
Treasury Dept. Operative Gave Billions to Goldman Sachs While Owning Goldman Sachs Stock
During the financial crisis of 2008, the Department of the Treasury made an outside contractor, Dan Jester, the “point man” on insurance giant AIG, which was teetering towards collapse. Jester’s participation in the decision-making that led to the... read more
Companies Creatively Get Around Ban on Earmarks
After leaders in the U.S. House of Representatives decided to ban earmarks for companies, executives figured out creative ways to still receive millions in federal tax dollars. An investigation by The New York Times found the end-around tricks hav... read more
U.S. Banks Help Cartels Launder Illegal Drug Money
Wachovia bank recently reached an agreement with federal prosecutors to settle charges that it allowed drug cartels to launder more than $378 billion through exchange houses it owned in Mexico from 2004 to 2007. Wachovia, now owned by Wells Fargo,... read more
Oil Companies Gain Billions from Government Ethanol Credits
Government subsidies for ethanol benefit not only the producers of the corn-based fuel additive, but also major oil companies. For every gallon of ethanol used in gasoline, an oil company receives 45 cents, and those credits have added up to more ... read more
Federal Hiring of Hispanics Drops
Despite the addition of 100,000 new jobs to the federal workforce by the end of last year, representation of Hispanics in U.S. government jobs did not increase, says the Coalition for Fairness for Hispanics in Government. This development upset th... read more
Pentagon to Spend $1 Billion on Psychological Operations; 40% to Contractors
Military officials have ambitious plans for conducting psychological operations (PSYOP) against America’s enemies, at a cost of about $1 billion. But the Department of Defense is not sufficiently staffed to implement all of its PSYOP goals, so it’... read more
$119 Million in Mass Transit Funding Never Spent, No Longer Available
Local governments missed out on spending nearly $120 million in Federal Transit Administration earmarks that were available until September 2009, when the country was still steeped in recession. The $119.2 million, approved by Congress under SAFET... read more
Ex-U.S. Attorney Charged Taxpayers $450,000 for Travel
Until recently, U.S. Attorneys were permitted to approve their own travel expenses, leaving little oversight for how taxpayer dollars were being spent. The Obama administration changed this policy in March by now requiring the director or deputy d... read more
Americans Buying Own Health Insurance See Premiums Jump 20%
Insurance companies have been raising premiums by an average of 20% on individual health plans, according to The Henry J. Kaiser Family Foundation.
A new report shows that more than 75% of those surveyed who bought their own health insurance e... read more
Obama Tries to Revive Polluters Tax to Fund Cleanups
With millions of gallons of oil polluting the Gulf of Mexico, the Obama administration is attempting to leverage the current disaster to revive the “Superfund” tax on oil and chemical companies to help clean up toxic sites around the country.
... read more
Has the U.S. Wasted $700 Million on an Arabic-Language TV Station?
Alhurra, the U.S. government’s answer to the popular Middle East network Al Jazeera, has cost American taxpayers $700 million since its inception during the Bush administration. But Alhurra has failed to grab enough viewers in the region to make i... read more
VA to Extend Coverage for Veterans at Non-VA Facilities
While it works to improve medical care at some of its hospitals, the Department of Veterans Affairs has decided to cover the cost of emergency treatment provided to veterans at non-VA facilities. As part of newly proposed regulations, the VA also ... read more