In 2015, $15 billion was stolen from 13.1 million Americans as a result of identity fraud and 16 percent of complaints filed with the Federal Trade Commission (FTC) in 2014 were related to identity theft. According to a February 2, 2016 Javelin Strategy and Research study, the success of microchips in credit and checking cards to prevent identity theft have driven criminals to focus on fraud that relies on an individual’s name and other stolen personal information.
Calling a Foul on Taxpayer-Funded Stadiums
State and local governments routinely approve plans to force taxpayers to subsidize professional sports arenas across the country. In a report released on December 20, 2013, Judith Grant Long, a professor of urban planning at Harvard University, found that taxpayers had doled out $12 billion to fund 51 major sports stadiums between 2001 and 2010, raising many questions about why taxpayers foot the bill for these facilities.
Catfish Program Removal Gains Support of Committee on Energy and Commerce
On June 22, 2016, CCAGW and a coalition of taxpayer watchdogs sent a letter to the U.S. House of Representatives urging a vote on S. J. Res. 28. S. J. Res. 28, sponsored by Sen. McCain (R-Ariz.), would nullify the USDA’s wasteful and duplicative catfish inspection program. The Senate passed the resolution on May 25, […]
Medicare Continues Fiscal Slide: Congress Sidelines Watchdogs
The 2016 Annual Report of the Board of Trustees of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds Report came out today. Bottom line: the Trust Fund faces insolvency in 2028, two years earlier than was projected in last year’s report. But Centers for Medicare and Medicaid (CMS) Services Acting Administrator Andy […]
Adiós, Puerto Rico – A Story of Shameless Waste and Inefficiency
Plagued by significant population decline, relocation of businesses, and a crushing debt nearing $72 billion, Puerto Rico is in a fiscal crisis. With a $2 billion debt service payment looming on July 1, 2016, the nation is rapidly sliding into an an ever deeper economic depression, driving bipartisan consensus in the House of Representatives rarely […]
Hailing for Change: Medallions vs. the Marketplace
In the digital age, the monetization of personal assets has become a new phenomenon. Whether it is renting out the spare bedroom in your house through Airbnb, using your personal vehicle to earn money by transporting people via Uber or Lyft, or even booking a luxury private jet at a fraction of the cost through JetSmarter.
From the Bureaucracy, With Love: Disguised Costs from Federal Agencies
In 1957, Ian Fleming published From Russia, With Love, the fifth book in his series about the suave MI6 agent, James Bond. In the novel, the Soviet Union’s intelligence agency, led by Colonel Rosa Klebb, sends assassins to disguise themselves as Bond’s allies until Klebb herself leaves Bond’s life hanging by a thread with her poisoned blade. Like Colonel Klebb, the Obama Administration issues regulations under the guise of protecting Americans against some perceived danger, while in reality, they are toxic weapons used to rob taxpayers of wealth and freedom.
Hensarling: “Economic Growth for All, and Bank Bailouts for None”
On June 7, 2016, with the mantra “Economic Growth for All, and Bank Bailouts for None,” House Financial Services Committee Chairman Jeb Hensarling (R-Texas) unveiled the key principles of his proposal to replace the Dodd-Frank Act with “real reforms that work,” in a speech to the Economic Club of New York.
Purple Money
The largest public-private partnership (P3) in the U.S. is expected to start construction by the end of the year sits just outside the Capital Beltway in Maryland. What Maryland calls the Purple Line, we consider a colossal waste of taxpayer dollars. The Purple Line was first estimated to cost around $2 billion to construct, operate, […]
Next on Hotel Hell: City of Baltimore
For eight consecutive years, the city-owned and operated Hilton Baltimore has lost money, $5.2 million in 2015. Baltimore’s economy has not been strong recently, and the riots following the Freddie Gray incident haven’t had a positive impact on the city’s tourist business. However, the Hilton was losing money well before the recent troubles. Instead of making $7 million a […]