08 March 2013

The Other Sequestration That No One Is Talking About

The second sequester has the potential to increase overall fiscal austerity this year. The exact magnitude of the additional spending cuts depends on the extent the Department of Defense (DoD) exceeds the BCA baseline. As a reminder, cutting budget authority does not necessarily translate into one-for-one spending cuts. At the very extreme, if the DoD has already used all $11bn of this additional budget authority, we will see an annualized hit of $19bn, or 0.1% of GDP. On the opposite end of the spectrum, if the Department of Defense did not use any of the extra $11bn, the second sequester would result in no additional austerity.

Putting an exact figure on the actual spending cuts resulting from the second sequester is very difficult. The Bipartisan Policy Center (BPC) finds that defense spending is currently running above its baseline pre-sequester budget cap. They estimate that the second sequester will result in additional austerity of $6bn in FY2013. On an annualized basis, that is a $10bn, or 0.06% of GDP, shock.

Claim: Arctic sea ice is disappearing faster than anyone thought

The September 2012 record low in Arctic sea-ice extent was big news, but a missing piece of the puzzle was lurking below the ocean's surface. What volume of ice floats on Arctic waters? And how does that compare to previous summers? These are difficult but important questions, because how much ice actually remains suggests how vulnerable the ice pack will be to more warming.

New satellite observations confirm a University of Washington analysis that for the past three years has produced widely quoted estimates of Arctic sea-ice volume. Findings based on observations from a European Space Agency satellite, published online in Geophysical Research Letters, show that the Arctic has lost more than a third of summer sea-ice volume since a decade ago, when a U.S. satellite collected similar data.


Welcome to reality...

New Violence Against Women Act Includes Historic Protections for Native American and LGBT Survivors

I am at a loss to understand how any segment of society is more deserving than another for protection. This sort of protection is in itself "discriminatory" in nature, which is the in conflict with the idea that all people have equal rights. 

Lies and Drones

Criticism abound of Rand Paul and his attempt to prevent the nomination of a new CIA head, the WSJ simply lies about prior use of drones by the Obama regime. When the truth does not support the political machine, state media simply churns out the propaganda.

Can a Revolving Door Benefit the Public?

There are benefits in a regulatory revolving door between public regulatory agencies and private industry, but those benefits tend to lean toward those regulating and profiting from lax regulations and exemptions, rather than society overall.