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Archive for the ‘Government waste’ Category

Rebuttal to Mr. Brian Pitzer’s letter criticizing my advocating the succession of public funding for Amtrak

Posted by Martin C. Fox on June 16, 2013

See the letter here.

Three things immediately come to mind:

-The Constitution does not allow nor did the founding fathers intend for the government to be in business.

-All of my working life I have heard from contractors it costs the government twice as much to do a project as the private sector.

-Governments with printing presses don’t worry about profit and loss statements.

Crony capitalism did not start in the 21st century. Railroads have always benefited from the largess of the government, particularly during the Lincoln administration and later. Have you ever thought how all those rights-of-way were paid for and how the owners were “persuaded” to sell?

There were numerable reasons for rail’s decline in the twentieth century. The depression (the Fed’s first major accomplishment), government regulation, railroad labor unions (Amtrak currently has to deal with a dozen or so unions), the emergence of cars and air travel, ICC’s inept rate setting and heavy government subsidy of highways and airlines. Government is a major source of its own problems.

To address Mr. Pitzer:

I am glad gasoline taxes initially paid for Eisenhower’s highway project. This must be the only government project where only the intended user fully paid for what they were using. As Mr. Pitzer commented, that is no longer the case as costs have sky rocketed. Remember, government projects cost twice as much. The Highway Trust Fund may get $53B compared to $1.4B for Amtrak but I am guessing there are more than 38 times more automobile passenger miles travelled.

The figures I see tell me the average Amtrak ticket is subsidized by $45. These are Federal subsidies we are talking about. Many states also subsidize Amtrak, PA included. These figures aren’t addressed in this discussion.

Yes, airlines are in a mess also. Where else but in a government project would you have federal, state and county government give US Air a billion dollar airport in Pittsburgh and allow US Air to walk away leaving a $62M annual mortgage? A deal crooked as a dog’s hind leg. Read the rest of this entry »


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Mother of Mercy-Is This The End of Chrysler?

Posted by Martin C. Fox on June 3, 2012

Mazda dumps Ford for failing Fiat? Their CFO must be Bernanke.

Mother of Mercy-Is This the End?

Obama takes over GM and starts running the show.  Bigwigs gets fired and Obama tells GM they have to sell green cars.  Government Motors subsequently shuts down the Volt production line for 5 weeks because no one wants to buy an overpriced electric falsely advertised hybrid that has no range. If Big Bother sold off his GM stock now the tax payers would lose 10$ of billions.

Next the O-Man facilitates Chrysler’s sale to Fiat, another government supported white elephant. Fiat sales are down despite cutting labor costs. The Italian company can’t turn cost savings into sales. Now the Italian tax payers, the few that actually pay their taxes, have purchased their own white elephant, Chrysler. Why haven’t we seen or heard much about what Fiat intends to do with their new bambino? Nothing appears to be happening. Fiat can’t figure out their own failing operation, that is why.

This does not look good for Chrysler.

I have to wonder what convinced Mazda to hook up to this long black train.  I hope Mazda can unravel this giant plate of spaghetti.

Thank you for your insight Mr. Obama.

Be seeing you

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Profits Are for People by Walter E. Williams

Posted by Martin C. Fox on October 25, 2011

Just as Francisco d’Anconia provided his justification for profit Walter Williams provides a wonderful analysis illustrating why-

we need companies to profit

and why the Occupy Wallstreeters are siding with the people causing the problems.

Posted in Fascism, Government waste | Tagged: , , , | 1 Comment »

Gannon University and Money for Nothing-It’s not a song, it’s the government

Posted by Martin C. Fox on September 29, 2011

According to the Erie Times News Gannon University has accepted a $300,000 grant to combat a sexual violence problem that it admits it does not have.  A DoJ grant funded by you and me. Read the rest of this entry »

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