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12 May 2010

Today’s Tabbloid
PERSONAL NEWS FOR craig.kirchoff+fisccon@gmail.com

FISCALLY CONSERVATIVE BLOG FEEDS


FISCALLY CONSERVATIVE BLOG FEEDS
Shocking News: People Are Less
Michelle Obama’s Food Tax
Likely to Work When
[Americans for Tax Reform]
Government Subsidizes MAY 11, 2010 05:30P.M.

Joblessness [Cato at Liberty] Perhaps it’s time for ATR to start asking First Ladies to sign the
MAY 11, 2010 08:19P.M. Taxpayer Protection Pledge. Michelle Obama has embarked upon a well-
documented campaign to tackle childhood obesity in Ame...
By Daniel J. Mitchell

Kudos to the Detroit News for a great story revealing that people are
refusing to accept jobs because of government unemployment benefits. FISCALLY CONSERVATIVE BLOG FEEDS
None of this should be surprising to people who understand that if you
subsidize something, you get more of it. Alan Reynolds has been beating NYT: Attorneys General
this drum for quite some time, but the message doesn’t seem to get
through to politicians who think it is compassionate to lure workers into Advance “a Credible Theory for
lives of dependency. But perhaps this excerpt from the Detroit News
report will help (In a perverse way, I admire the one guy who admits that Eviscerating” ObamaCare [Cato
he doesn’t plan to find work until the government stops sending him
checks): at Liberty“a Credible Theory for
In a state with the nation’s highest jobless rate, landscaping companies Eviscerating” ObamaCare]
are finding some job applicants are rejecting work offers so they can MAY 11, 2010 04:55P.M.
continue collecting unemployment benefits. …the fact that some
seasonal landscaping workers choose to stay home and collect a check By Michael F. Cannon
from the state, rather than work outside for a full week and spend money
for gas, taxes and other expenses, raises questions about whether The New York Times‘ Kevin Sack reports on the legal challenge to
extended unemployment benefits give the jobless an incentive to avoid ObamaCare’s individual mandate launched by 20 state attorneys
work. …Chris Pompeo, vice president of operations for Landscape general:
America in Warren, said he has had about a dozen offers declined. One
applicant, who had eight weeks to go until his state unemployment Some legal scholars, including some who normally lean to the
benefits ran out, asked for a deferred start date. …A full-time left, believe the states have identified the law’s weak spot and
landscaping employee would make $225 more a week working than from devised a credible theory for eviscerating it…
an unemployment check of $255. But after federal and state taxes are
deducted, a full-time landscaper would earn $350 a week, or $95 more Jonathan Turley, who teaches at George Washington
than a jobless check. …The federal jobless benefits extension “is the most University Law School, said that if forced to bet, he would
generous safety net we’ve ever offered nationally,” said David Littmann, predict that the courts would uphold the health care law. But
senior economist of the Mackinac Center for Public Policy, a free- Mr. Turley said that the federal government’s case was far
market-oriented research group in Midland. …One former landscaper, from open-and-shut, and that he found the arguments
who has been on unemployment for a year, said he will search for work against the mandate compelling.
when the benefits expire, but he estimates he earns about $50 to $60
less a week than he would if he were working. “It’s crazy,” he said. “They “There are few cases in the history of the court system that
keep doing all of these extensions.” have a more significant assertion of authority by the
government,” said Mr. Turley, a civil libertarian who
acknowledged being strange bedfellows with the conservative

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Today’s Tabbloid PERSONAL NEWS FOR craig.kirchoff+fisccon@gmail.com 12 May 2010

theorists behind the lawsuit. “This case, more than any other, FISCALLY CONSERVATIVE BLOG FEEDS
may give the court sticker shock in terms of its impact on
federalism.” Sunlight Before Signing: Slow
Supporters claim the individual mandate will pass muster with the Improvement [Cato at Liberty]
Supreme Court because in the past the Court has declared that the U.S. MAY 11, 2010 04:45P.M.
Constitution’s interstate commerce clause authorizes Congress to
regulate non-commercial activity that affects interstate commerce. Sack By Jim Harper
writes:
It’s about time for an update on President Obama’s Sunlight Before
Lawyers for the government will contend that, because of the Signing promise. On the campaign trail and on his campaign web site,
cost-shifting nature of health insurance, people who do not the president said he would post all bills he received from Congress
obtain coverage inevitably affect the pricing and availability online for five days before he signed them.
of policies for everyone else. That, they will argue, is enough
to satisfy the Supreme Court’s test. He hasn’t fulfilled that promise every time. In fact, so far in 2010 he’s
only done it about a quarter of the time, but that’s a big improvement
But to [the attorneys’ general outside counsel David] Rivkin, over 2009!
the acceptance of that argument would herald an era without
limits. Here’s a table that summarizes the Sunlight Before Signing status of the
163 bills President Obama has signed.
“Every decision you can make as a human being has an
economic footprint — whether to procreate, whether to Number of Bills Bills Held 5 Days Bills Posted Five Days Emergency Bills
marry,” he said. “To say that is enough for your behavior to Overall 163 113 16 1 2009 123 90 6 0 2010 40 23 10 1
be regulated transforms the Commerce Clause into an
infinitely capacious font of power, whose exercise is only Of 163 bills, 113 have been held for five days as a matter of course, but
restricted by the Bill of Rights.” only 16 have been posted on Whitehouse.gov for five days before signing.
Five of the six bills posted for five days were in December, after
Sack’s article contains an inaccuracy. He writes: Whitehouse.gov put a link on its home page pointing to pending
legislation. The remaining ten so far in 2010 bring the president’s overall
Congressional bill writers took steps to immunize the law Sunlight Before Signing average to .098. Let’s round it up to 10%.
against constitutional challenge…They labeled the penalty on
those who do not obtain coverage an “excise tax,” because If you drop the administration’s first year, things start to look pretty
such taxes enjoy substantial constitutional protection. good. (Hey, everything is relative…) The president is 10 for 40 in 2010—a
straight .250 batting average. There have been 23 bills held five days, of
In fact, the law uses the term “excise tax” several times, but never in course. The average could be above 50%!
reference to the penalty for violating the individual mandate. It describes
that penalty solely as a penalty. (The law does refer to the penalty Part of what is dragging the numbers down is the policy not to post bills
for violating the employer mandate as a tax, but not an excise tax.) that rename post offices. They’re not very important—that’s for sure—but
the president’s promise wasn’t to post just the important bills online.
As my Cato colleague Randy Barnett explains, that means supporters
cannot reasonably claim that the individual mandate’s penalty is a tax, The public might benefit from knowing that Congress and the president
because that’s not what Congress approved. As Cato chairman Bob Levy spent time naming a post office in Saint Louis after Coach Jodie Bailey.
explains, even if supporters do claim that penalty is a tax, it would be an (Coach Bailey had a record of 828 wins and 198 losses in his 42
unconstitutional tax, because it does not fit into any of the categories of seasons—quite a bit better than President Obama’s record on Sunlight
taxes the Constitution authorizes Congress to impose. Before Signing!)

The “substantial constitutional protections” afforded to excise taxes do Interestingly, the most recent new law—renaming a Department of
not protect the individual mandate. Veterans Affairs facility—was posted online for five days. Perhaps the
White House is going to start going after Sunlight Before Signing’s
lowest-hanging fruit. Then things will really pick up!

After the jump, the table showing the Sunlight Before Signing treatment
for all 163 laws President Obama has signed.

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Today’s Tabbloid PERSONAL NEWS FOR craig.kirchoff+fisccon@gmail.com 12 May 2010

Public Law Date Presented Date Signed Five Days? Posted (Linked)? the facility of the United States Postal Service located at 3245 Latta Road
Posted Five Days? P.L. 111-2, The Lilly Ledbetter Fair Pay Act of 2009 in Rochester, New York, as the “Brian K. Schramm Post Office Building”
1/28/2009 1/29/2009 No 1/29/2009* No P.L. 111-3, The Children’s 6/9/2009 6/19/2009 Yes No No P.L. 111-30, The Antitrust Criminal
Health Insurance Program Reauthorization Act of 2009 2/4/2009 Penalty Enhancement and Reform Act of 2004 Extension Act 6/19/2009
2/4/2009 No (2/1/2009)* No P.L. 111-4, The DTV Delay Act 2/9/2009 6/19/2009 No No No P.L. 111-31, The Family Smoking Prevention and
2/11/2009 No 2/5/2009* Yes † P.L. 111-5, The American Recovery and Tobacco Control Act 6/16/2009 6/22/2009 Yes (6/12/2009)* No ‡ P.L.
Reinvestment Act of 2009 2/16/2009 2/17/2009 No (2/13/2009)* No 111-32, The Supplemental Appropriations Act, 2009 6/19/2009
P.L. 111-6, Making further continuing appropriations for fiscal year 6/24/2009 Yes (5/20/2009)* No ‡ P.L. 111-33, The Native American
2009, and for other purposes 3/6/2009 3/6/2009 No No No P.L. 111-7, Heritage Day Act of 2009 6/16/2009 6/26/2009 Yes (6/16/2009)* No ‡
A bill to designate the facility of the United States Postal Service located P.L. 111-34, To designate the Federal building and United States
at 2105 East Cook Street in Springfield, Illinois, as the “Colonel John H. courthouse located at 306 East Main Street in Elizabeth City, North
Wilson, Jr. Post Office Building” 2/26/09 3/9/2009 Yes No No P.L. 111- Carolina, as the “J. Herbert W. Small Federal Building and United States
8, The Omnibus Appropriations Act, 2009 3/11/2009 3/11/2009 No Courthouse” 6/19/2009 6/30/2009 Yes No No P.L. 111-35, To
(3/5/2009)* No P.L. 111-9, To extend certain immigration programs designate the Federal building located at 799 United Nations Plaza in
3/18/2009 3/20/2009 No (3/19/2009)* No P.L. 111-10, To provide for New York, New York, as the “Ronald H. Brown United States Mission to
an additional temporary extension of programs under the Small Business the United Nations Building” 6/19/2009 6/30/2009 Yes No No P.L.
Act and the Small Business Investment Act of 1958, and for other 111-36, The Webcaster Settlement Act of 2009 6/19/2009 6/30/2009
purposes 3/19/2009 3/20/2009 No (3/19/2009)* No P.L. 111-11, The Yes (6/19/2009)* No ‡ P.L. 111-37, The Veterans’ Compensation Cost-
Omnibus Public Land Management Act of 2009 3/30/2009 3/30/2009 of-Living Adjustment Act of 2009 6/25/2009 6/30/2009 Yes
No (3/27/2009)* No P.L. 111-12, The Federal Aviation Administration (6/25/2009)* No ‡ P.L. 111-38, A bill to provide additional personnel
Extension Act of 2009 3/24/2009 3/30/2009 Yes (3/24/2009)* No ‡ authorities for the Special Inspector General for Afghanistan
P.L. 111-13, The Generations Invigorating Volunteerism and Education Reconstruction 6/24/2009 6/30/2009 Yes (6/19/2009)* No ‡ P.L. 111-
Act 4/20/2009 4/21/2009 No No No P.L. 111-14, To designate the 39, To make technical corrections to the Higher Education Act of 1965,
United States courthouse under construction at 327 South Church Street, and for other purposes 6/26/2009 7/1/2009 Yes (6/26/2009) No ‡ P.L.
Rockford, Illinois, as the “Stanley J. Roszkowski United States 111-40, A bill to award a Congressional Gold Medal to the Women
Courthouse” 4/14/2009 4/23/2009 Yes No No P.L. 111-15, The Special Airforce Service Pilots (”WASP”) 6/24/2009 7/1/2009 Yes
Inspector General for the Troubled Asset Relief Program Act of 2009 (6/29/2009)* No ‡ P.L. 111-41, The Korean War Veterans Recognition
4/14/2009 4/24/2009 Yes (3/27/2009)* No ‡ P.L. 111-16, The Act 7/27/2009 7/27/2009 No (7/25/2009)* No P.L. 111-42, Approving
Statutory Time-Periods Technical Amendments Act of 2009 4/30/2009 the renewal of import restrictions contained in the Burmese Freedom
5/7/2009 Yes (4/29/2009)* No ‡ P.L. 111-17, A joint resolution and Democracy Act of 2003, and for other purposes 7/27/2009
providing for the appointment of David M. Rubenstein as a citizen regent 7/28/2009 No No No P.L. 111-43, A bill to provide for an additional
of the Board of Regents of the Smithsonian Institution 4/28/2009 temporary extension of programs under the Small Business Act and the
5/7/2009 Yes (4/23/2009)* No ‡ P.L. 111-18, A bill to repeal section Small Business Investment Act of 1958, and for other purposes
10(f) of Public Law 93-531, commonly known as the “Bennett Freeze” 7/30/2009 7/31/2009 No No No P.L. 111-44, The New Frontier
4/28/2009 5/8/2009 Yes (4/23/2009)* No ‡ P.L. 111-19, The Civil Congressional Gold Medal Act 7/27/2009 8/7/2009 Yes (7/27/2009)*
Rights History Project Act of 2009 4/30/2009 5/12/2009 Yes No ‡ P.L. 111-45, To authorize the Director of the United States Patent
(4/29/2009)* No ‡ P.L. 111-20, The Protecting Incentives for the and Trademark Office to use funds made available under the Trademark
Adoption of Children with Special Needs Act of 2009 5/5/2009 Act of 1946 for patent operations in order to avoid furloughs and
5/15/2009 Yes (5/5/2009)* No ‡ P.L. 111-21, The FERA 5/19/2009 reductions-in-force, and for other purposes 7/27/2009 8/7/2009 Yes
5/20/2009 No (5/15/2009)* No P.L. 111-22, The Helping Families Save (7/27/2009)* No ‡ P.L. 111-46, To restore sums to the Highway Trust
Their Homes Act of 2009 5/20/2009 5/22/2009 No (5/20/2009)* No Fund, and for other purposes 8/4/2009 8/7/2009 No (8/5/09) No P.L.
P.L. 111-23, The Weapon Systems Acquisition Reform Act of 2009 111-47, Making supplemental appropriations for fiscal year 2009 for the
5/21/2009 5/22/2009 No 5/14/2009* No P.L. 111-24, The Credit Consumer Assistance to Recycle and Save Program 8/6/2009 8/7/2009
Cardholders’ Bill of Rights Act of 2009 5/20/2009 5/22/2009 No No (8/5/2009) No P.L. 111-48, The Miami Dade College Land
5/15/2009* No P.L. 111-25, The Ronald Reagan Centennial Commission Conveyance Act 7/31/2009 8/12/2009 Yes (7/31/2009)* No ‡ P.L. 111-
Act 5/21/2009 6/2/2009 Yes (5/28/2009)* No ‡ P.L. 111-26, To 49, The Judicial Survivors Protection Act of 2009 8/3/2009 8/12/2009
designate the facility of the United States Postal Service located at 12877 Yes (8/5/2009) No ‡ P.L. 111-50, To designate the facility of the United
Broad Street in Sparta, Georgia, as the “Yvonne Ingram-Ephraim Post States Postal Service located at 46-02 21st Street in Long Island City,
Office Building” 6/9/2009 6/19/2009 Yes No No P.L. 111-27, To New York, as the “Geraldine Ferraro Post Office Building” 8/11/2009
designate the facility of the United States Postal Service located at 300 8/19/2009 Yes No No P.L. 111-51, To designate the facility of the United
East 3rd Street in Jamestown, New York, as the “Stan Lundine Post States Postal Service located at 601 8th Street in Freedom, Pennsylvania,
Office Building” 6/9/2009 6/19/2009 Yes No No P.L. 111-28, To as the “John Scott Challis, Jr. Post Office” 8/11/2009 8/19/2009 Yes No
designate the facility of the United States Postal Service located at 103 No P.L. 111-52, To designate the facility of the United States Postal
West Main Street in McLain, Mississippi, as the “Major Ed W. Freeman Service located at 2351 West Atlantic Boulevard in Pompano Beach,
Post Office” 6/9/2009 6/19/2009 Yes No No P.L. 111-29, To designate Florida, as the “Elijah Pat Larkins Post Office Building” 8/11/2009

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Today’s Tabbloid PERSONAL NEWS FOR craig.kirchoff+fisccon@gmail.com 12 May 2010

8/19/2009 Yes No No P.L. 111-53, The Utah Recreational Land 10/7/2009 10/13/2009 Yes (10/7/2009) No ‡ P.L. 111-73, The
Exchange Act of 2009 8/11/2009 8/19/2009 Yes (8/11/2009) No ‡ P.L. Enhanced Partnership with Pakistan Act of 2009 10/5/2009 10/15/2009
111-54, To designate the facility of the United States Postal Service Yes (10/2/2009) No ‡ P.L. 111-74, To designate the Federal building
located at 41 Purdy Avenue in Rye, New York, as the “Caroline O’Day and United States courthouse located at McKinley Avenue and Third
Post Office Building” 8/11/2009 8/19/2009 Yes No No P.L. 111-55, To Street, SW., Canton, Ohio, as the “Ralph Regula Federal Building and
designate the facility of the United States Postal Service located at 431 United States Courthouse” 10/7/2009 10/19/2009 Yes No No P.L. 111-
State Street in Ogdensburg, New York, as the “Frederic Remington Post 75, To designate the United States courthouse located at 525 Magoffin
Office Building” 8/11/2009 8/19/2009 Yes No No P.L. 111-56, To Avenue in El Paso, Texas, as the “Albert Armendariz, Sr., United States
designate the facility of the United States Postal Service located at 123 Courthouse” 10/7/2009 10/19/2009 Yes No No P.L. 111-76, To provide
11th Avenue South in Nampa, Idaho, as the “Herbert A Littleton Postal for the transfer of certain Federal Property to the Galveston Historical
Station” 8/11/2009 8/19/2009 Yes No No P.L. 111-57, To designate the Foundation 10/7/2009 10/19/2009 Yes (10/7/2009) No ‡ P.L. 111-77,
facility of the United States Postal Service located at 1300 Matamoros To designate the Federal building located at 844 North Rush Street in
Street in Laredo, Texas, as the “Laredo Veterans Post Office” 8/11/2009 Chicago, Illinois, as the “William O. Lipinski Federal Building”
8/19/2009 Yes No No P.L. 111-58, To designate the facility of the 10/7/2009 10/19/2009 Yes No No P.L. 111-78, To designate the United
United States Postal Service located at 702 East University Avenue in States courthouse located at 301 Simonton Street in Key West, Florida,
Georgetown, Texas, as the “Kyle G. West Post Office Building” as the “Sidney M. Aronovitz United States Courthouse” 10/7/2009
8/11/2009 8/19/2009 Yes No No P.L. 111-59, To designate the facility 10/19/2009 Yes No No P.L. 111-79, The Foreign Evidence Request
of the United States Postal Service located at 19190 Cochran Boulevard Efficiency Act of 2009 10/7/2009 10/19/2009 Yes (10/7/2009) No ‡
FRNT in Port Charlotte, Florida, as the “Lieutenant Commander Roy H. P.L. 111-80, The Agriculture, Rural Development, Food and Drug
Boehm Post Office Building” 8/11/2009 8/19/2009 Yes No No P.L. 111- Administration, and Related Agencies Appropriations Act, 2010
60, To extend the deadline for commencement of construction of a 10/16/2009 10/21/2009 Yes (10/9/2009) No ‡ P.L. 111-81, The
hydroelectric project 8/11/2009 8/19/2009 Yes (8/11/2009) No ‡ P.L. Veterans Health Care Budget Reform and Transparency Act of 2009
111-61, Recognizing the service, sacrifice, honor, and professionalism of 10/16/2009 10/22/2009 Yes (10/16/2009)* No ‡ P.L. 111-82, A bill to
the Noncommissioned Officers of the United States Army 8/11/2009 authorize major medical facility leases for the Department of Veterans
8/19/2009 Yes (8/11/09) No ‡ P.L. 111-62, A joint resolution granting Affairs for fiscal year 2010, and for other purposes 10/15/2009
the consent and approval of Congress to amendments made by the State 10/26/2009 Yes No No P.L. 111-83, The Department of Homeland
of Maryland, the Commonwealth of Virginia, and the District of Security Appropriations Act, 2010 10/22/2009 10/28/2009 Yes
Columbia to the Washington Metropolitan Area Transit Regulation (10/9/2009) No ‡ P.L. 111-84, The National Defense Authorization Act
Compact 8/7/2009 8/19/2009 Yes (8/7/2009) No ‡ P.L. 111-63, The for Fiscal Year 2010 10/26/2009 10/28/2009 No (10/21/2009)* No
WIPA and PABSS Reauthorization Act of 2009 9/10/2009 9/18/2009 P.L. 111-85, The Energy and Water Development and Related Agencies
Yes (9/10/2009) No ‡ P.L. 111-64, A joint resolution providing for the Appropriations Act, 2010 10/21/2009 10/28/2009 Yes (10/21/2009)*
appointment of France A. Cordova as a citizen regent of the Board of No P.L. 111-86, The Girl Scouts USA Centennial Commemorative Coin
Regents of the Smithsonian Institution 9/11/2009 9/18/2009 Yes Act 10/22/2009 10/29/2009 Yes (10/21/2009)* No ‡ P.L. 111-87, The
(9/11/09) No ‡ P.L. 111-65, To provide for the award of a gold medal on Ryan White HIV/AIDS Treatment Extension Act of 2009 10/26/2009
behalf of Congress to Arnold Palmer in recognition of his service to the 10/30/2009 No (10/21/2009)* No P.L. 111-88, The Department of the
Nation in promoting excellence and good sportsmanship in golf Interior, Environment, and Related Agencies Appropriations Act, 2010
9/21/2009 9/30/2009 Yes (9/21/2009) No ‡ P.L. 111-66, To provide 10/30/2009 10/30/2009 No (10/28/2009)* No P.L. 111-89, A bill to
for an additional temporary extension of programs under the Small provide for additional temporary extension of programs under the Small
Business Act and the Small Business Investment Act of 1958, and for Business Act and the Small Business Investment Act of 1958, and for
other purposes 9/30/2009 9/30/2009 No (9/30/2009) No P.L. 111-67, other purposes 10/30/2009 10/30/2009 No (10/29/2009) No P.L. 111-
The Defense Production Act Reauthorization of 2009 9/24/2009 90, The Morris K. Udall Scholarship and Excellence in National
9/30/2009 Yes (9/24/2009) No ‡ P.L. 111-68, The Legislative Branch Environmental Policy Amendments Act of 2009 10/22/2009 11/3/2009
Appropriations Act, 2010 9/30/2009 10/1/2009 No (10/1/2009) Yes (10/22/2009) No ‡ P.L. 111-91, The Medal of Honor
and Commemorative Coin Act of 2009 10/29/2009 11/6/2009 Yes
(10/23/09) No P.L. 111-69, The Fiscal Year 2010 Federal Aviation (10/29/2009) No ‡ P.L. 111-92, The Unemployment Compensation
Administration Extension Act 9/30/2009 10/1/2009 Yes (9/30/2009) Extension Act of 2009 11/5/2009 11/6/2009 No (11/5/2009) No P.L.
No P.L. 111-70, To amend the Foreign Affairs Reform and Restructuring 111-93, The Credit CARD Technical Corrections Act of 2009 10/30/2009
Act of 1998 to reauthorize the United States Advisory Commission on 11/6/2009 Yes (10/30/2009)* No ‡ P.L. 111-94, Proclaiming Casimir
Public Diplomacy 9/30/2009 10/9/2009 Yes (10/1/2009) No ‡ P.L. Pulaski to be an honorary citizen of the United States posthumously
111-71, To amend the United States International Broadcasting Act of 10/29/2009 11/6/2009 Yes (10/29/2009) No ‡ P.L. 111-95, A bill to
1994 to extend by one year the operation of Radio Free Asia, and for amend title 36, United States Code, to grant a Federal charter to the
other purposes 9/30/2009 10/9/2009 Yes (10/1/2009) No ‡ P.L. 111- Military Officers Association of America, and for other purposes
72, To amend title XVIII of the Social Security Act to delay the date on 10/30/2009 11/6/2009 Yes (10/30/2009)* No ‡ P.L. 111-96, A bill to
which the accreditation requirement under the Medicare Program allow the funding for the interoperable emergency communications
applies to suppliers of durable medical equipment that are pharmacies grant program established under the Digital Television Transition and

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Today’s Tabbloid PERSONAL NEWS FOR craig.kirchoff+fisccon@gmail.com 12 May 2010

Public Safety Act of 2005 to remain available until expended through Compliance to serve for 3 terms 12/2/2009 12/14/2009 Yes (12/2/2009)
fiscal year 2012, and for other purposes 10/30/2009 11/6/2009 Yes No ‡ P.L. 111-115, To amend titles II and XVI of the Social Security Act
(10/30/2009) No ‡ P.L. 111-97, The Military Spouses Residency Relief to prohibit retroactive payments to individuals during periods for which
Act 11/4/2009 11/11/2009 Yes (11/4/2009) No ‡ P.L. 111-98, A bill to such individuals are prisoners, fugitive felons, or probation or parole
authorize a major medical facility project at the Department of Veterans violators 12/14/2009 12/15/2009 No No No P.L. 111-116, To amend the
Affairs Medical Center, Walla, Walla, Washington, and for other Internal Revenue Code of 1986 to extend the funding and expenditure
purposes 11/4/2009 11/11/2009 Yes No No P.L. 111-99, To designate authority of the Airport and Airway Trust Fund, to amend title 49,
the facility of the United States Postal Service located at 10355 Northeast United States Code, to extend authorizations for the airport
Valley Road in Rollingbay, Washington, as the “John ‘Bud’ Hawk Post improvement program, and for other purposes 12/14/2009 12/16/2009
Office” 11/20/2009 11/30/2009 Yes No No P.L. 111-100, To designate No (12/14/2009) No P.L. 111-117, Making appropriations for the
the facility of the United States Postal Service located at 37926 Church Departments of Transportation, and Housing and Urban Development,
Street in Dade City, Florida, as the “Sergeant Marcus Mathes Post Office” and related agencies for the fiscal year ending September 30, 2010, and
11/20/2009 11/30/2009 Yes No No P.L. 111-101, To name the South for other purposes 12/15/2009 12/16/2009 No (12/15/2009) No P.L.
Central Agricultural Research Laboratory of the Department of 111-118, Making appropriations for the Department of Defense for the
Agriculture in Lane, Oklahoma, and the facility of the United States fiscal year ending September 30, 2010, and for other purposes
Postal Service located at 310 North Perry Street in Bennington, 12/19/2009 12/19/2009 No (12/19/2009) No P.L. 111-119, A bill to
Oklahoma, in honor of former Congressman Wesley “Wes” Watkins amend the Family and Medical Leave Act of 1993 to clarify the eligibility
11/20/2009 11/30/2009 Yes No No P.L. 111-102, To designate the requirements with respect to airline flight crews 12/9/2009 12/21/2009
facility of the United States Postal Service located at 4282 Beach Street Yes (12/11/2009) Yes P.L. 111-120, To extend through December 31,
in Akron, Michigan, as the “Akron Veterans Memorial Post Office” 2010, the authority of the Secretary of the Army to accept and expend
11/20/2009 11/30/2009 Yes No No P.L. 111-103, To designate the funds contributed by non-Federal public entities to expedite the
facility of the United States Postal Service located at 140 Merriman Road processing of permits 12/14/2009 12/22/2009 Yes (12/14/2009) Yes
in Garden City, Michigan, as the “John J. Shivnen Post Office Building” P.L. 111-121, Appointing the day for the convening of the second session
11/20/2009 11/30/2009 Yes No No P.L. 111-104, To designate the of the One Hundred Eleventh Congress 12/16/2009 12/22/2009 Yes
facility of the United States Postal Service located at 1615 North Wilcox (12/16/2009) Yes P.L. 111-122, A bill to establish a section within the
Avenue in Los Angeles, California, as the “Johnny Grant Hollywood Post Criminal Division of the Department of Justice to enforce human rights
Office Building” 11/20/2009 11/30/2009 Yes No No P.L. 111-105, To laws, to make technical and conforming amendments to criminal and
designate the facility of the United States Postal Service located at 115 immigration laws pertaining to human rights violations, and for other
West Edward Street in Erath, Louisiana, as the “Conrad DeRouen, Jr. purposes 12/17/2009 12/22/2009 Yes (12/17/2009) Yes P.L. 111-123,
Post Office” 11/20/2009 11/30/2009 Yes No No P.L. 111-106, To To permit continued financing of Government operations 12/24/2009
designate the facility of the United States Postal Service located at 867 12/28/2009 No (12/25/2009) No P.L. 111-124, To extend the
Stockton Street in San Francisco, California, as the “Lim Poon Lee Post Generalized System of Preferences and the Andean Trade Preference Act,
Office” 11/20/2009 11/30/2009 Yes No No P.L. 111-107, To designate and for other purposes 12/23/2009 12/28/2009 Yes (12/23/2009) Yes
the facility of the United States Postal Service located at 1165 2nd Avenue P.L. 111-125, To extend the commercial space transportation liability
in Des Moines, Iowa, as the “Iraq and Afghanistan Veterans Memorial regime 12/24/2009 12/28/2009 No (12/25/2009) No P.L. 111-126, To
Post Office” 11/20/2009 11/30/2009 Yes No No P.L. 111-108, To accelerate the income tax benefits for charitable cash contributions for
designate the facility of the United States Postal Service located at 936 the relief of victims of the earthquake in Haiti 01/22/2010 01/22/2010
South 250 East in Provo, Utah, as the “Rex E. Lee Post Office Building” No (01/22/2010) No P.L. 111-127, The Emergency Aid to American
11/20/2009 11/30/2009 Yes No No P.L. 111-109, A bill to redesignate Survivors of the Haiti Earthquake Act 01/27/2010 01/27/2010 No n/a E!
the facility of the United States Postal Service located at 2777 Logan n/a E! P.L. 111-128, To designate the facility of the United States Postal
Avenue in San Diego, California, as the “Cesar E. Chavez Post Office” Service located at 116 North West Street in Somerville, Tennessee, as the
1/28/2009 1/29/2009 No No No P.L. 111-110, A bill to designate the “John S. Wilder Post Office Building” 01/20/2010 01/29/2010 Yes No
facility of the United States Postal Service located at 60 School Street, No P.L. 111-129, To designate the facility of the United States Postal
Orchard Park, New York, as the “Jack F. Kemp Post Office Building” Service located at 76 Brookside Avenue in Chester, New York, as the “1st
11/19/2009 11/30/2009 Yes No No P.L. 111-111, A bill to designate the Lieutenant Louis Allen Post Office” 01/20/2010 01/29/2010 Yes No No
facility of the United States Postal Service located at 630 Northeast P.L. 111-130, To designate the facility of the United States Postal Service
Killingsworth Avenue in Portland, Oregon, as the “Dr. Martin Luther located at 9810 Halls Ferry Road in St. Louis, Missouri, as the “Coach
King, Jr. Post Office” 11/19/2009 11/30/2009 Yes No No P.L. 111-112, A Jodie Bailey Post Office Building” 01/20/2010 01/29/2010 Yes No No
bill to extend the authority for relocation expenses test programs for P.L. 111-131, To designate the facility of the United States Postal Service
Federal employees, and for other purposes 11/19/2009 11/30/2009 Yes located at 440 South Gulling Street in Portola, California, as the “Army
No No P.L. 111-113, A bill to amend title 36, United States Code, to Specialist Jeremiah Paul McCleery Post Office Building” 01/20/2010
include in the Federal charter of the Reserve Officers Association 01/29/2010 Yes No No P.L. 111-132, To designate the facility of the
leadership positions newly added in its constitution and bylaws United States Postal Service located at 427 Harrison Avenue in Harrison,
12/2/2009 12/14/2009 Yes (12/2/2009) No ‡ P.L. 111-114, A bill to New Jersey, as the “Patricia D. McGinty-Juhl Post Office Building”
permit each current member of the Board of Directors of the Office of 01/20/2010 01/29/2010 Yes No No P.L. 111-133, To designate the

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Today’s Tabbloid PERSONAL NEWS FOR craig.kirchoff+fisccon@gmail.com 12 May 2010

facility of the United States Postal Service located at 16555 Springs Street Continuing Extension Act of 2010 04/15/2010 04/15/2010 No No No
in White Springs, Florida, as the “Clyde L. Hillhouse Post Office P.L. 111-158, The Debt Relief for Earthquake Recovery in Haiti Act of
Building” 01/20/2010 01/29/2010 Yes No No P.L. 111-134, To 2010 04/15/2010 04/26/2010 Yes (04/15/2010)* Yes P.L. 111-159, To
designate the facility of the United States Postal Service located at 170 amend the Internal Revenue Code of 1986 to ensure that health coverage
North Main Street in Smithfield, Utah, as the “W. Hazen Hillyard Post provided by the Department of Defense is treated as minimal essential
Office Building” 01/20/2010 01/29/2010 Yes No No P.L. 111-135, To coverage 04/14/2010 04/26/2010 Yes (04/14/2010)* Yes P.L. 111-160,
designate the facility of the United States Postal Service located at 3900 A joint resolution granting the consent and approval of Congress to
Darrow Road in Stow, Ohio, as the “Corporal Joseph A. Tomci Post amendments made by the State of Maryland, the Commonwealth of
Office Building” 01/20/2010 01/29/2010 Yes No No P.L. 111-136, To Virginia, and the District of Columbia to the Washington Metropolitan
provide for an additional temporary extension of programs under the Area Transit Regulation Compact 04/16/2010 04/26/2010 Yes
Small Business Act and the Small Business Investment Act of 1958, and (04/16/2010)* Yes P.L. 111-161, The Airport and Airway Extension Act
for other purposes 01/29/2010 01/29/2010 No No No P.L. 111-137, To of 2010 04/29/2010 04/30/2010 No (04/29/2010)* No P.L. 111-162, A
amend title 38, United States Code, to expand veteran eligibility for bill to provide for an additional temporary extension of programs under
reimbursement by the Secretary of Veterans Affairs for emergency the Small Business Act and the Small Business Investment Act of 1958,
treatment furnished in a non-Department facility, and for other purposes and for other purposes 04/29/2010 04/30/2010 No (04/29/2010)* No
01/20/2010 02/01/2010 Yes (01/20/2010) Yes P.L. 111-138, A bill to P.L. 111-163, The Caregivers and Veterans Omnibus Health Services Act
provide that claims of the United States to certain documents relating to of 2009 04/27/2010 05/05/2010 Yes (04/23/2010) Yes P.L. 111-164,
Franklin Delano Roosevelt shall be treated as waived and relinquished in To designate the Department of Veterans Affairs blind rehabilitation
certain circumstances 01/22/2010 02/01/2010 Yes No No P.L. 111-139, center in Long Beach, California, as the “Major Charles R. Soltes, Jr.,
Increasing the statutory limit on the public debt 02/04/2010 O.D. Department of Veterans Affairs Blind Rehabilitation Center”
02/12/2010 Yes No No P.L. 111-140, The Nuclear Forensics and 04/26/2010 05/07/2010 Yes (04/26/2010)* Yes
Attribution Act 02/04/2010 02/16/2010 Yes No No P.L. 111-141, An Act
to extend expiring provisions of the USA PATRIOT Improvement and * Page now gone, but it was either directly observed, evidence of it
Reauthorization Act of 2005 and Intelligence Reform and Terrorism appears in Whitehouse.gov search, or White House says it existed.
Prevention Act of 2004 until February 28, 2011 02/26/2010 02/27/2010
No (02/26/2010) No P.L. 111-142, The Social Security Disability † Bill was posted for five days after final passage, though not formal
Applicants’ Access to Professional Representation Act of 2010 presentment. Counted as “Yes.”
02/25/2010 02/27/2010 No (02/25/2010) No P.L. 111-143, The
Criminal History Background Checks Pilot Extension Act of 2009 ‡ Link to final version of bill on impossible-to-find page.
02/17/2010 03/01/2010 Yes No No P.L. 111-144, The Temporary
Extension Act of 2010 03/02/2010 03/02/2010 No (03/03/2010) No E! Emergency legislation not subject to five-day posting.
P.L. 111-145, The Capitol Police Administrative Technical Corrections Act
of 2009 03/04/2010 03/04/2010 No (02/26/2010)* No P.L. 111-146,
The Trademark Technical and Conforming Amendment Act of 2010
03/17/2010 03/17/2010 No (03/05/2010) Yes † P.L. 111-147, The FISCALLY CONSERVATIVE BLOG FEEDS
Hiring Incentives to Restore Employment Act 03/17/2010 03/18/2010
No (03/18/2010)* No P.L. 111-148, The Patient Protection and Governor Mark Sanford Vetoes
Affordable Care Act 03/22/2010 03/23/2010 No (03/14/2010)* No
P.L. 111-149, To amend the North American Wetlands Conservation Act Tobacco Tax Increase
to establish requirements regarding payment of the non-Federal share of
the costs of wetlands conservation projects in Canada that are funded [Americans for Tax Reform]
under that Act, and for other purposes 03/15/2010 03/25/2010 Yes MAY 11, 2010 04:05P.M.
(03/15/2010)* Yes P.L. 111-150, P.L. 111-150, To permit the use of
previously appropriated funds to extend the Small Business Loan Americans for Tax Reform applauds South Carolina Governor Mark
Guarantee Program, and for other purposes 03/26/2010 03/26/2010 No Sanford for announcing his veto today of House Bill 3584, legislation
No No P.L. 111-151, The Satellite Television Extension Act of 2010 that would impose a more than 700% increase on cigarettes sold i...
03/26/2010 03/26/2010 No No No P.L. 111-152, The Reconciliation Act
of 2010 03/30/2010 03/30/2010 No No No P.L. 111-153, The Federal
Aviation Administration Extension Act of 2010 03/26/2010 03/31/2010
Yes (03/26/2010)* Yes P.L. 111-154, The PACT Act 03/19/2010
03/31/2010 Yes (03/18/2010)* Yes P.L. 111-155, The Prevent Deceptive
Census Look Alike Mailings Act 04/01/2010 04/07/2010 Yes No No
P.L. 111-156, Recognizing and honoring the Blinded Veterans Association
on its 65th anniversary of representing blinded veterans and their
families 04/01/2010 04/07/2010 Yes No No P.L. 111-157, The

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Today’s Tabbloid PERSONAL NEWS FOR craig.kirchoff+fisccon@gmail.com 12 May 2010

FISCALLY CONSERVATIVE BLOG FEEDS Senator D’Amato, Rep. Bernie Sanders (I-Vt.)–Congress’s
self-proclaimed socialist–and numerous consumer groups
Taking Judicial Matters have formed an unlikely coalition to put an end to ATM
surcharges. If successful, that campaign would limit the
Seriously [Cato at Liberty] options of consumers, since there would be no means to
MAY 11, 2010 03:29P.M. support the more convenient ATM machines. Prohibiting
ATM surcharges would only harm consumers by slowing the
By Roger Pilon expansion of ATMs and reducing the number of ATMs
currently deployed without making anyone better off.
Elena Kagan, with no judicial opinions and few legal writings, is the new
“stealth” nominee for the Supreme Court. All the more reason senators
should press her about the most important question before the country
today: After ObamaCare, are there any longer any constitutional limits FISCALLY CONSERVATIVE BLOG FEEDS
on government? For more, see my piece at Forbes.com.
IRS Begins Enforcing
“Economic Substance Doctrine”
FISCALLY CONSERVATIVE BLOG FEEDS
[Americans for Tax Reform]
Senate to Limit ATM Charges? MAY 11, 2010 02:38P.M.

[Cato at Liberty] You might remember during the healthcare bill that ATR detailed each of
MAY 11, 2010 03:23P.M. the tax increases at each stage of the legislative process. The final list can
be found here. One of the most Orwel...
By Mark A. Calabria

The great thing about Cato policy papers is that even sometimes obscure
topics are timeless, because government never rests when it comes to FISCALLY CONSERVATIVE BLOG FEEDS
running our lives and restricting our choices.
Uncertainty on the Street: A
Take the issue of bank ATM surcharges, those fees you can sometimes be
charged for using another bank’s ATM. Back in 1998, then Senator Al Special Edition of The Kudlow
D’Amato proposed capping those fees. Thankfully that effort failed. I
would like to believe one of the reasons for its failure is a 1998 Cato Report [Larry Kudlow’s Money
Briefing Paper by John Charles Bradbury, describing how ATM
surcharge fees actually increase consumer choice by funding ever Politic$]
increasing ATM locations. MAY 11, 2010 01:38P.M.

Well the Senate is at it again. Senator Harkin has proposed an


amendment to Dodd’s financial regulation bill that would cap ATM
surcharge fees at 50 cents (it is not clear where Harkin came up with that
number, perhaps his love of music). The same flaws in D’Amato’s
scheme twelve years ago hold true today.

The other great thing about existing Cato briefing papers is that it saves
me the work of writing on the topic. Just as well since I don’t believe I
could improve upon Bradbury’s conclusions:

Consumers have the ability to obtain money from their bank


accounts without paying a surcharge. ATM surcharges allow Tonight at 7pm ET:
banks and other ATM operators to deploy machines in more
convenient locations than might otherwise be possible. MARKET REPORT...
Customers who are unwilling to pay a surcharge incur the
cost of inconvenience, while those who value the convenience CNBC’s Rick Santelli, Bob Pisani and Sharon Epperson will report all the
more than the cost of the fee have the option of paying for it.

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Today’s Tabbloid PERSONAL NEWS FOR craig.kirchoff+fisccon@gmail.com 12 May 2010

latest developments. FISCALLY CONSERVATIVE BLOG FEEDS

FISA Applications Are Down,


-GOLD HITS RECORD HIGH
-HAVE WE AVOIDED THE CATASTROPHE SCENARIO? but Is Surveillance? [Cato at
-WHERE ARE WE WITH THE FLOW OF GOLD,
COMMODITIES, EURO? Liberty]
-CAN WE GET BACK TO BUSINESS OF V-SHAPED MAY 11, 2010 12:36P.M.
RECOVERY?
By Julian Sanchez
- Andy Busch, BMO Capital Markets; CNBC Contributor
- Jim Iuorio, Options Action Contributor, Director, TJM Institutional
Services
- Art Hogan, Jefferies Chief Market Analyst

WASHINGTON INVESTIGATES THE MARKET PLUNGE


CNBC’s Hampton Pearson reports on new developments.

STOCK MARKET ROUND UP

- Jeff Kleintop, LPL Financial Chief Market Strategist


- David Goldman, Senior Editor First Things Magazine
- Michael Cuggino, Permanent Portfolio Family of Funds President &
Portfolio Manager; Permanent Portfolio Fund (PRPFX)

STOCK MARKET PANEL: GO FOR THE GOLD? BUY, SELL OR


HOLD? The invaluable Main Justice blog notes that we’ve just gotten our annual
dribble of information from the Foreign Intelligence Surveillance Court,
- Lauren Lacapra, TheStreet Staff Reporter showing that the number of surveillance applications sought and
- William Baldwin, Forbes Editor approved by the court dropped for a second consecutive year, to their
- James Paulsen, Wells Capital Management Chief Investment Strategist lowest level since 2002. Applications fell to 1,376—down from 2007’s
record high of 2,370.
Please join us. The Kudlow Report. 7pm ET. CNBC.
So does that mean there’s less FISA surveillance going on?
Nope—according to an anonymous source at the Justice Department,
you can’t infer much from the raw numbers, especially given the passage
FISCALLY CONSERVATIVE BLOG FEEDS of the FISA Amendments Act of 2008, which empowered the executive

John Kerry Urges Passage of the branch to authorize broad programs of surveillance with slight court
oversight:

South Korea FTA [The Club for “The number of Foreign Intelligence Surveillance Act

Growth] applications submitted to the Foreign Intelligence


Surveillance Court decreased in 2008 and again in 2009 due
MAY 11, 2010 12:42P.M. to significant changes in the legal authorities that govern
FISA surveillance — specifically, the enactment of the FISA
This is good news from an otherwise unreliable Senator. plea for Obama Amendments Act in 2008 — and shifting operational
to move quickly to resolve auto, beef and other trade concerns that have demands, but the fluctuation in the number of applications
blocked the South Korean agreement came one week before South does not in any way reflect a change in coverage,” the official
Korean Trade Minister Kim Jong-hoon is due in Washington. said.

I note with some disappointment that the normally astute folks at Main
Justice repeat the canard that the FISA Amendments Act were a
response to a 2007 court ruling that “surveillance of purely foreign
communications that pass through a U.S. communications node was

8
Today’s Tabbloid PERSONAL NEWS FOR craig.kirchoff+fisccon@gmail.com 12 May 2010

illegal without a warrant.” Boosters of broader executive power FISCALLY CONSERVATIVE BLOG FEEDS
trumpeted that line, but as we learned in 2008, the court’s limitations
were really centrally about certain kinds of e-mail traffic; it has never New Poll: Chet Edwards Losing
been the case that purely foreign communications in general required a
warrant if they passed through the U.S.—and indeed, nobody reading the By 11 Points [The Club for
plain text of the FISA law could possibly believe that to be the case.
Growth]
In any event, as I suggested recently when last year’s criminal wiretap MAY 11, 2010 12:33P.M.
figures were released, this is one more reason to suspect that current
reporting requirements amount to so much oversight theater—giving us Another Democrat in a conservative district (McCain won the 17th
the illusion that we have some understanding of the real scope of district with 67% in 2008)
electronic surveillance, while providing (at best) a spotty and incomplete
picture.

FISCALLY CONSERVATIVE BLOG FEEDS

FISCALLY CONSERVATIVE BLOG FEEDS Pawlenty to Minnesota DFL:


Not Too Late to “Audit the Fed” Tax Hikes Not an Option
[Cato at Liberty“Audit the Fed”] [Americans for Tax Reform]
MAY 11, 2010 12:35P.M. MAY 11, 2010 12:15P.M.

By Mark A. Calabria After legislative Democrats in Minnesota got what they wished for in
terms of a Supreme Court decision undermining Gov. Tim Pawlenty’s
Last week I wrote about Senator Sanders’ “compromise” with Senator unallotment authority, they are now scrambling to plug a b...
Dodd and the White House on auditing the Federal Reserve. To re-cap,
the compromise would drop any auditing of monetary policy and simply
focus on the Fed’s emergency lending facilities. See my previous post for
why I believe that compromise is a big win for the Fed and a loss for the FISCALLY CONSERVATIVE BLOG FEEDS
American public.
Kagan Nomination: Around the
The good news is that Senator Sanders’ compromise does not end the
debate. Senator Vitter has filed an amendment (#3760) that mirrors the Web [Cato at Liberty]
original Sanders’ amendment, including an audit of monetary policy. MAY 11, 2010 11:28A.M.
With any luck, other Senators will be able to decide for themselves
whether the Sanders-Dodd compromise offers sufficient transparency of By Walter Olson
the Fed’s actions.
• Confirmation hearings are a “vapid and hollow charade”, or at least
I also highly suggest reading Arnold Kling’s recent Cato briefing paper on that’s what Elena Kagan wrote fifteen years ago. National Review
the issue, “The Case for Auditing the Fed Is Obvious.” Online invited me to contribute to a symposium on how
Republican senators can keep the coming hearings from becoming
such a charade, with results that can be found here.

• The First Amendment has been among Kagan’s leading scholarly


interests, and yesterday in this space Ilya Shapiro raised interesting
questions of whether she will make an strong guardian of free
speech values. Eugene Volokh looks at her record and guesses that
she might wind up adopting a middling position similar to that of
Justice Ginsburg. As Radley Balko and Jacob Sullum have noted,
the departing John Paul Stevens ran up at best a mixed record on
First Amendment issues, so the overall impact on the Court is far
from clear.

• Kagan’s other main scholarly topic has been administrative and

9
Today’s Tabbloid PERSONAL NEWS FOR craig.kirchoff+fisccon@gmail.com 12 May 2010

regulatory law, and Nate Oman at Concurring Opinions warns that FISCALLY CONSERVATIVE BLOG FEEDS
everything in her career “suggests that she is intellectually geared
to look at the regulatory process from the government’s point of Income-based Taxpayer Ripoff
view.” Oman took an advanced seminar she taught, and brings
back this cautionary report: [Cato at Liberty]
MAY 11, 2010 11:24A.M.
• It was an interesting class, mainly focused on the
competition between bureaucrats and political By Neal McCluskey
appointees. In our discussions businesses were always
conceptualized as either passive objects of regulation or Great stuff on Forbes.com today by the Center for College Affordability
pernicious rent-seekers. Absent was a vision of private and Productivity’s Daniel Bennett. Bennett examines the income-based
businesses as agents pursuing economic goals student-loan repayment provisions attached to the health-care
orthogonal to political considerations. We were reconciliation law, and itemizes how much of their monthly repayment
certainly not invited to think about the regulatory bill borrowers in most federal loan programs will be able to skip out on,
process from the point of view of a private business for leaving taxpayers holding the bag.
whom political and regulatory agendas represent a
dead-weight cost. Check out Bennett’s entire, handy chart in the article to see the savings
for numerous levels of debt and income, and I’ll just highlight the
• I’m not the only one who finds Kagan’s exclusion of military savings for borrowers with $25,000 in debt – slightly more than the
recruiters at Harvard wrongheaded, even while agreeing with her average for those graduates who have any debt.
in opposing the gay ban. Peter Beinart made that argument in a
widely noted post at The Daily Beast last month and now has a Basically, any single person at that debt level making below a little more
followup. Former Harvard law dean Robert Clark is in the Wall than $60,000 a year would see savings under IBR. A federal loan of
Street Journal today (sub-only) with an argument that Kagan’s $25,000, with a 6.8 percent interest rate, would normally carry a
policy was a continuation of his own and represented the sense of monthly repayment of $383. But a person earning $60,000 a year would
the law faculty as a whole. Emily Bazelon points out that the only pay $365 under IBR, a $19 monthly savings. And, of course, the IBR
recruitment bar was overwhelmingly popular at top law schools at savings to the borrower — and loss to the taxpayer — gets bigger as
the time, an argument that as Ramesh Ponnuru points out may income goes down.
raise more questions than it answers. And Ilya Somin cautions
against assuming that the wrongheadedness reflects any Oh, and that’s really only half the story: While anyone with a federal loan
specifically anti-military bias. (excluding PLUS loans) is now eligible for IBR, if you go into saintly non-
profit work — including assuming the incredible hardships of working
• One of John Miller’s readers recalls John Hasnas’s wise words on for the government — your remaining loan balance will be forgiven after
“empathy” in judging. David Brooks at the Times runs with the only ten years of on-time payments, versus twenty for any devil who
“Revenge of the Grinds” theme. SCOTUSblog rounds up some dares produce things for which people voluntarily pay!
other reactions (with thanks for the link). And Brad Smith, writing
at Politico, advises us to be ready should Citizens United come up
at the hearing.

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Today’s Tabbloid PERSONAL NEWS FOR craig.kirchoff+fisccon@gmail.com 12 May 2010

FISCALLY CONSERVATIVE BLOG FEEDS And in addition to Western Europe’s failure to enforce real welfare-state
reductions, there really is no flat-tax reform — such as adopted in
Will Chaffetz Challenge Hatch Eastern Europe — to promote growth. Ironically, the countries of
Western Europe, including the southern tier of Greece, Spain, Portugal,
in 2012 [The Club for Growth] and Italy, have a lower corporate tax rate than the United States. That is
MAY 11, 2010 11:18A.M. good. But they could build on that with real flat-tax reform, rather than
jacking up value-added taxes.
This is a bold statement.
So there are no enforced spending cuts, there is no flat tax, and there is
plenty of political upheaval. (Angela Merkel just lost an important
regional election.) So right now, on the day after a big relief rally in stock
FISCALLY CONSERVATIVE BLOG FEEDS and bond markets, a sober assessment of the so-called rescue package
doesn’t look so great. Actually, the real winner looks to be gold, which is
A Big-Bang, Trillion-Dollar up $20 this morning and is almost at its all-time high of $1,226. That’s a
sign of no confidence in the European story.
Euro Burial? [Larry Kudlow’s
The euro currency has been compromised and the European welfare
Money Politic$] state continues. Not good.
MAY 11, 2010 10:07A.M.

“Friends, Romans, countrymen, I come to bury Caesar, not to


praise him.”

Oops. What the European leaders really meant to do with their big-bang,
trillion-dollar sovereign-debt rescue was to save the euro currency, not to
bury it. But with the cave in by European Central Bank head Jean-Claude
Trichet (formerly a hard-money man and closet gold watcher) to use the
“nuclear option” to buy up dubious sovereign debt, the euro is likely to
keep depreciating.

When central banks buy bonds they pay for it with new cash. That’s
almost always negative for currency values. Ben Bernanke bought a ton
of new mortgage and Treasury bonds last year, and until the Greek crisis
came along, the dollar sunk like a stone. Get ready for more euro
declines.

And then you wonder if the European leaders came to save welfare
socialism rather than bury it. The mere fact that this rescue package will
provide loan guarantees to the very countries that boast the largest
welfare states and can’t afford to pay for them probably suggests that the
loan guarantees will guarantee more welfarism.

There’s a lot of talk about belt-tightening and spending cuts. But where’s
the enforcement mechanism? No one knows. This is the Achilles’ heel of
the whole European Union experiment. The monetary discipline has now
been broken while the sought-after fiscal discipline is still broken.

If the trillion-dollar European package succeeds in calming lending


markets and stopping an outright credit freeze-up, that’s good, at least in
the short run. Perhaps it will allow a cyclical-growth recovery, with
JPMorgan indexes of Euroland purchasing managers or manufacturing
and services showing the possibility of a 3 percent continental growth
rate. Yet while a cheap euro will stimulate exports in the short run, in the
longer term it will stimulate inflation.

11

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