Sequestration impact on Federal Education Programs, Automatic across the board reductions in discretionary programs, Obama stimulus and failed energy spending helped create huge deficit
“Why was Obama in constant contact with Tony Rezko in 2004 when Rezko was conspiring with William Cellini to use TRS, Teacher Retirement Fund, assets for political gain and personal enrichment?”…Citizen Wells
“What do you think a stimulus is? It’s spending – that’s the whole point! Seriously.”…Barack Obama
“…and Socialist governments traditionally do make a financial mess. They [socialists] always run out of other people’s money. It’s quite a characteristic of them.”…Margaret Thatcher
Much is being said about the impact of sequestration on federal education spending.
From the NEA.
“Impact of Sequestration on Federal Education Programs – State-by-State
Across-the-board cuts known as “sequestration” are scheduled to go into effect on March 1, 2013 unless Congress acts. These cuts – nearly $3 billion for education alone — would result in:
- Services cut or eliminated for millions of students.
- Funding for children living in poverty, special education, and Head Start slashed by billions.
- Ballooning class sizes.
- Elimination of after-school programs.
- Decimation of programs for our most vulnerable—homeless students, English language learners, and high-poverty, struggling schools.
- Slashing of financial aid for college students.
- Loss of tens of thousands of education jobs—at early childhood, elementary, secondary, and postsecondary levels.
From Idea Money Watch.
Q. What is sequestration? (Pronounced se″kwes-tra´shun)
A. Sequestration is a fiscal policy procedure adopted by Congress to deal with the federal budget deficit. It first appeared in the Gramm-Rudman-Hollings Deficit Reduction Act of 1985.
Simply put, sequestration is the cancellation of budgetary resources — an “automatic” form of spending cutback. (Learn more here.)
Q. Why is sequestration important now?
A. The Budget Control Act of 2011 (BCA) established a 12 member Joint Select Committee on Deficit Reduction (or “super committee”) charged with reducing the deficit by an additional $1.2 – $1.5 trillion over ten years. The BCA also included a sequestration hammer should the super committee fail, a provision intended to “force” the super committee to act.
Despite the threat of sequestration, the super committee failed. Announcing its inability to reach an agreement on November 21, 2011, the members of the bipartisan committee stated that “after months of hard work and intense deliberations, we have come to the conclusion today that it will not be possible to make any bipartisan agreement available to the public before the committee’s deadline.”
So, as established in the BCA, sequestration was triggered when the super committee failed to reach an agreement. Sequestration generates automatic cuts for each of nine years, FY 13-21, totaling $1.2 trillion. Sequestration was originally scheduled to take effect on Jan. 2, 2013. However, it was delayed for two months – until March 1, 2013, by the deal struck on New Year’s Eve, called the American Taxpayer Relief Act of 2012.
Now, without Congressional action to prevent sequestration, the first round of cuts will take place on March 1, 2013.
The 2013 cuts apply to “discretionary” spending and are divided between reductions to defense ($500 billion) and non-defense ($700 billion).
Q. What must occur in order to avoid sequestration?
A. Sequestration can only be avoided if Congress passes legislation that undoes the legal requirement in the BCA and that President Obama will sign before March 1, 2013.
While advocacy efforts to prevent sequestration are beginning to spring up, the strongest efforts focus on preventing the deep cuts to defense spending.
Q. Can the Executive Branch reconfigure sequestration cuts?
A. No. The cuts are automatic, across-the-board reductions to all discretionary programs unless exempted by the BCA. (A list of exempt programs is available here.) The Executive Branch will have no authority or ability to redistribute the cuts.
$ 3 billion in education cuts because our spending is out of control.
How did that happen?
Here is part of the reason.
A $840 billion Obama stimulus program.
From The Foundry October 18, 2012.
“The 2009 stimulus set aside $80 billion to subsidize politically preferred energy projects. Since that time, 1,900 investigations have been opened to look into stimulus waste, fraud, and abuse (although not all are linked to the green-energy funds), and nearly 600 convictions have been made. Of that $80 billion in clean energy loans, grants, and tax credits, at least 10 percent has gone to companies that have since either gone bankrupt or are circling the drain.”
“So far, 34 companies that were offered federal support from taxpayers are faltering — either having gone bankrupt or laying off workers or heading for bankruptcy. This list includes only those companies that received federal money from the Obama Administration’s Department of Energy and other agencies. The amount of money indicated does not reflect how much was actually received or spent but how much was offered. The amount also does not include other state, local, and federal tax credits and subsidies, which push the amount of money these companies have received from taxpayers even higher.
The complete list of faltering or bankrupt green-energy companies:
- Evergreen Solar ($25 million)*
- SpectraWatt ($500,000)*
- Solyndra ($535 million)*
- Beacon Power ($43 million)*
- Nevada Geothermal ($98.5 million)
- SunPower ($1.2 billion)
- First Solar ($1.46 billion)
- Babcock and Brown ($178 million)
- EnerDel’s subsidiary Ener1 ($118.5 million)*
- Amonix ($5.9 million)
- Fisker Automotive ($529 million)
- Abound Solar ($400 million)*
- A123 Systems ($279 million)*
- Willard and Kelsey Solar Group ($700,981)*
- Johnson Controls ($299 million)
- Brightsource ($1.6 billion)
- ECOtality ($126.2 million)
- Raser Technologies ($33 million)*
- Energy Conversion Devices ($13.3 million)*
- Mountain Plaza, Inc. ($2 million)*
- Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*
- Range Fuels ($80 million)*
- Thompson River Power ($6.5 million)*
- Stirling Energy Systems ($7 million)*
- Azure Dynamics ($5.4 million)*
- GreenVolts ($500,000)
- Vestas ($50 million)
- LG Chem’s subsidiary Compact Power ($151 million)
- Nordic Windpower ($16 million)*
- Navistar ($39 million)
- Satcon ($3 million)*
- Konarka Technologies Inc. ($20 million)*
- Mascoma Corp. ($100 million)
*Denotes companies that have filed for bankruptcy.”
WE warned you.
Obama is doing to the US education system what he and his cronies did to Illinois.
From Citizen Wells March 29, 2012.
“Obama, Blagojevich and their cronies used the citizens of Illinois, Teachers Retirement System, hospitals and taxpayer dollars for their own benefit.”
“2003: “Of the five funds, the one in the sorriest shape is the Illinois Teacher Retirement System, which provides the pensions for suburban and downstate teachers. Its ratio of assets to liabilities stood at a mere 52 percent last year, so poor that it was considered among the five worst-funded plans in the country.”
“In 2002, the year after Obama made the pitch, the Illinois Teacher Retirement System reported an 18% increase in assets managed by minority-owned firms. Ariel’s share grew to $442 million by 2005.
In 2006, after the federal investigation became public, the teacher pension board severed its relationship with Ariel, concluding that Ariel’s investment returns were insufficient.”
“In addition to lining their own pockets, the money gained through the scheme was funneled to the campaigns of Blagojevich and Obama. Prosecutors have identified two $10,000 payments that were made to Obama’s US Senate campaign through straw donors Joseph Aramanda and Elie Maloof, which originated from a kickback paid by investment firm, Glencoe Capital, to secure approval for a $50 million deal.
Aramanda and Maloof also each gave Obama $1,000 for his failed run for Congress in 2000. Once Obama became a US Senator, Aramanda’s son was granted a coveted intern position in Obama’s Senate office in Washington during the summer of 2005, based on a request which the Obama’s camp has admitted came from Rezko.”
“Mr. Obama also recently pointed to his work on the Illinois pension issue as a model for what he would do as president to promote minority-owned companies.”
2.1 tremor in Illinois today.
Lincoln must be turning over in his grave.
Good one CW. I’m feeling tremors all the time here in Southern WI.
I’m thinking itchy trigger fingers in harmony.
Back to voter fraud.
This appears in another blog concerning dead voters still registered and voting.
“Among America’s registered voters more than 1,800,000 have been proved to be dead. This of course provides more opportunities for fraud by the Party that survives on voter fraud. In Maryland dead people have registered (guess which Party got their check mark) and voted AFTER their death.
Over 2,750,000 people are registered to vote in at least two states.”
I’m not sure what the last sentence is saying, but appears that the
1,800,000 dead voters almost equals those eligible in 2 states, ie live,
So I guess we can state clearly that the State of Death, USA always
I sure hope Ben Carson is the leader of conservatives not Christie.
“Senator Tom Casperson: I Don’t Know Where Obama Was Born: Media Not Giving Full Story”
“The interview aired on the The Big Show out of Michigan. A radical-leftist group in Michigan called Progress Michigan released a press release slamming Sen. Casperson for daring to practice his First Amendment Right to FREE SPEECH. So much for progress.”
………..I am looking for substantial cuts to SS benefit distributions that will be in the range of 15 -20%. Benefits will no longer be based upon the cost of living. A new maximum benefit is now being considered and the taxation of the benefits will also happen. If you receive $1000.00 per month your benefit could be taxed up to about 15%. This means that people receiving $1000.00 now you could feel a reduction of $350.00 To conform with HIS/ HER new suggested top benefit,plus the tax on the new benefit.. Existing benefits will have to be reduced. Example; If you are receiving $1000.00 each month your new PERMANENT top will be fixed at $800.00. I am looking for Medicare to guarantee payment of only 60%%,instead of the present 80%. The amount that a medicare recipient will pay will be increased to forty percent. I have the feeling that this is going to happen much sooner than any of us think. Things are starting to get hairey. Hope everybody has really deep pockets. I have a gut feeling that there is going to be a lot of seniors eating out of DEMSTER DUMSTERS.
Good Morning All.
A few threads ago, we had a short conversation about whether 911 was an inside job. The only reason that I would entertain such an idea, is because my husband mentioned that he believed it was. Since then, I have become aware of Dr. Judy Wood’s book “Where Did the Towers Go?”. She has impressive credentials, and presents a lot of evidence that so many buildings could not have “collapsed” from the airplanes. As Peter Jennings asked, “Where is all the rubble?” Strange. “Collapsed” seems to be the wrong word.
She does not describe herself as a 911 “truther”, as she doesn’t speculate about “who” or “why”, but sticks to “what” actually happened. I found her presentation really compelling.
Anyway, I’m taking a second look.
The more you learn about the FACTS of (1) the towers….(2) the Pentagon……and (3) Shanksville….will be the day you fully understand that 911 was a complete comedy of error on somebody’s part.
IF ANY PART OF THE EVENTS AT THESE THREE LOCATIONS WHICH HAPPENED ON 9-11-01 ARE FALSE THEN THE WHOLE DAMN THING IS FALSE……There are GROSS errors at all three sites which invalidates what we have been told by our propaganda press and lead to believe by our government….
The big questions is WHY?
Your husband is on too something that is pure evil in nature. Keep studying to understand exactly how far a government will go to subdue it’s people.
I suspect my husband WAS on to something, I agree! (He passed away.) But if we’ve been duped………. then it seems it’s been a pattern of deception that goes way back, and crosses party lines. (i.e. phoney BC). Leaves me kind of speechless.
I know next to nothing about evidence from the Pentagon and Shanksville.
What I’ve heard so far, contains info about the WTC buildings.
When I put all that I’ve heard together with what I suspect happened in Aurora and Newtown………… well, I just don’t know, RM. The conclusions are almost too disturbing to face. Even so, my mind is open.
You realize don”t you, that to accept this means America isn’t America anymore? Maybe I’m reading too much into it