There are 34,000 illegal aliens between the ages of 3-17 currently enrolled in North Carolina’s Public Schools, according to the Migration Policy Institute.
The state of North Carolina spends an average of $8,409 per student in taxpayer supported schools across the state, which results in $285,906,000 being spent on illegal alien students.
However, when you add the state’s 80,000 so-called ‘anchor babies,’ or U.S.-born children of those here illegally, a rather astounding $958,626,000 is being spent annually in the Tarheel State on education, thanks to our unprotected border.
Of course, there are undoubtedly many 18-year-olds here illegally who are enrolled in the state’s public school system as well, and considering the recent surge of so-called ‘unaccompanied minors” (many of whom settled in North Carolina), the yearly expenditure is pushed well over $1 billion.
It is also important to remember that the state of North Carolina is ranked 45th in the nation in per-student spending in public schools. The national average is $12,608 per-student, reports the National Center for Education Statistics.
Considering these aforementioned facts, it is easy to see how illegal aliens are bankrupting our states.
Well, well, the social justice buffoons are driving more and more jobs out of Ferguson, so now, I suppose they will scream RAAAAACISM a bit louder, loot and burn a little more, and then, complain about the unemployment rate in Ferguson.
Big Lots is the second major chain store to shut its doors in Ferguson, Missouri.
The chain said it had nothing to do with the devastating rioting and looting.
In September KMart announced it was closing its Ferguson store.
Just another painful example of how Leftism fails, and always hurts the people it insists are “victims” the most.
The Russian Ruble has taken a turn for the worst as an overnight move by the Russian central bank increased mistrust of the entity and the buying power of the Russian currency. America may feel the pinch before long.
At 1:00am in Moscow, the Russian Central Bank increased interest rates from 10.5% to 17% – a 650 basis point move in moments. That move sent the Ruble into free-fall.
Upon the banking move, the currency went from about $58 dollars per ruble to a low of $79.66 per Ruble.
The Ruble has been steadily declining in value since late summer due to the crude oil glut and ensuing price decreases engineered by OPEC.
Russia is not a heavy manufacturing or intellectual property production nation. It’s gross domestic product comes almost entirely from commodities – oil and precious metals making up a huge part.
As oil declines, so does the ability of the Russian economy to grow. For each $10 drop in the price of crude, Russia loses approximately .8% of GDP. The price of oil has dropped from a high of about $110 to a current value of about $56 which could equate to an almost 5% loss of GDP.
Adding to headwinds, Vladimir Putin’s incursions into Ukraine have brought on international sanctions that make it nearly impossible for Russian businesses to roll-over their Euro and Dollar-denominated debt which could cause a huge number of defaults over the next 12-18 months.
The effects on the American economy may be soon to follow.
Russian oil drillers earn dollars for the oil exports, but spend locally in the Russian currency. That hedges their production budgets against falling crude prices. Unlike America, where producers earn and pay in the same currency.
Because of the currency move, it could be advantageous for Russia to increase production to enhance revenues and tax receipts. This would increase the supply of cheap oil and push crude prices below $45. American shale oil producers will feel the brunt of cheap oil.
Senior officials at the Federal Deposit Insurance Corporation actively sought to crack down on legal businesses that the Obama administration – or the officials themselves – deemed morally objectionable, a new congressional report finds.
Released today by the House Oversight and Government Reform Committee, the 20-page investigative report details how the FDIC worked closely with the Justice Department to implement Operation Choke Point, a secretive program that seeks to cut off the financial lifeblood of payday lenders and other industries the administration doesn’t like.
The FDIC is the primary agency responsible for regulating and auditing more than 4,500 U.S. banks.
Emails unearthed by investigators show regulatory officials scheming to influence banks’ decisions on who to do business with by labeling certain industries “reputational risks,” ensuring banks “get the message” about the businesses the regulators don’t like, and pressuring banks to cut credit or close those accounts, effectively driving enterprises out of business.
The House panel’s investigation, led by Rep. Darrell Issa, R-Calif., and Rep. Jim Jordan, R-Ohio, cites confidential briefing documents that show senior Justice Department officials informing Attorney General Eric Holder that, as a consequence of Operation Choke Point, banks are “exiting” lines of business deemed “high risk’” by regulators.
“It’s appalling that our government is working around the law to vindictively attack businesses they find objectionable,” Issa, chairman of the Oversight Committee, said in a press release. Issa added:
Internal FDIC documents confirm that Operation Choke Point is an extraordinary abuse of government power. In the most egregious cases, federal bureaucrats injected personal moral judgments into the regulatory process. Such practices are totally inconsistent with basic principles of good government, transparency and the rule of law.
For example, email reveals FDIC employees opposing the payday lending industry on “personal grounds” and attempting to use their agency’s supervisory authority to drive the entire industry out of business.
One email from Thomas Dujenski, FDIC’s Atlanta regional director, to Mark Pearce, director of the Division of Depositor and Consumer Protection, was particularly concerning to investigators.
In it, Dujenski writes:
I have never said this to you (but I am sincerely passionate about this)… but I literally cannot stand the pay day lending industry… I had extensive involvement with this group of lenders and was instrumental in drafting guidance on stopping abuses.
In another example, a senior official insisted that FDIC Chairman Martin Gruenberg’s letters to Congress and talking points always mention pornography when discussing payday lenders and other targeted industries, in an effort to convey a “good picture regarding the unsavory nature of the businesses at issue.”
Payday loans are small, short-term loans supposedly made to hold borrowers over until their next payday.
Norbert Michel, research fellow in financial regulations at The Heritage Foundation, said payday lenders, along with some other industries targeted by Choke Point, all have been criticized for taking advantage of the poor or financially strapped by charging exorbitant fees or leaving customers in more debt than they started with.
The Obama administration contends that Operation Choke Point combats unlawful, mass-market consumer fraud. However, an earlier report by the House Oversight Committee found that the Justice Department initiative’s targets included legal businesses such as short-term lenders, firearms and ammunition merchants, coin dealers, tobacco sellers and home-based charities.
Today’s report, investigators said, confirmed that the FDIC originated the controversial list of “high risk” industries that it posted on its website, as previously reported by The Daily Signal.
Critics of the program argue that equating legal industries such as ammunition and lottery sales with explicitly illegal or offensive activities such as pornography and racist materials transforms the FDIC into the moral police.
Apparently, FDIC officials were aware of the “inherent impropriety” of these policies, the report indicates. In another email, David Barr, assistant director of the FDIC’s public affairs office, wrote:
[S]ome of the pushback from the Hill is that it is not up to the FDIC to decide what is moral and immoral, but rather what type of lending is legal.
Read a sample of emails unearthed by investigators here:
Correspondence between “Chief, Cyber-Fraud and Financial Crimes Section, Div. of Risk Management Supervision,” to the “Deputy Director, Div. of Risk Management Supervision, FDICHOGR00002183,” about the list of targeted “high risk” industries:
Email from Marguerite Sagatelian, senior counsel, Consumer Enforcement Unit, FDIC to James L. Anderson, assistant general counsel, Consumer Section, Consumer, Enforcement/Employment, Insurance & Legislation Branch, FDIC:
Email from “Counsel, Legal Division, FDIC,” to Marguerite Sagatelian, senior counsel, Consumer Enforcement Unit, FDIC:
Email from David Barr, assistant director, Office of Public Affairs, FDIC to Mark Pearce, director, Division of Depositor and Consumer Protection, FDIC:
Emails between Thomas J. Dujenski, regional director, Atlanta, FDIC, and Mark Pearce, director, Division of Consumer Protection, FDIC:
>>> Read the Entire Report
The Environmental Protection Agency (EPA) kept employees on paid administrative leave for years, costing taxpayers more than $1 million.
An “Early Warning” report released by the Office of Inspector General (OIG) on Wednesday revealed that eight employees racked up 20,926 hours of paid administrative leave, including some employees who were paid not to work for four years.
The eight employees cost taxpayers $1,096,868 alone. The report is in response to a Government Accountability Office (GAO) analysis released last month that found government-wide paid administrative leave cost $3.1 billion from 2011 and 2013.
The GAO report detailed that the EPA paid 69 employees to not work for 4,711 days between 2011 and 2013, costing $17,550,100.
The OIG analyzed paid leave for this year, focusing on eight employees who took the most paid leave. Half of the employees were on paid administrative leave for more than a year, including one EPA employee who was paid from May 2010 until September 2014, costing taxpayers $351,300.
The amount of paid leave taken by these employees may be higher, the OIG said, since several were missing timesheets during their period of paid leave.
The OIG report was categorized as addressing the goal of “Embracing EPA as a high-performing organization.”
The EPA allows for paid administrative leave for voting, funerals, donating blood, and bad weather. However, all eight employees were on paid administrative leave for at least four months.
The EPA’s leave manual offers no determination for what is considered an “acceptable amount of administrative leave.”
The OIG pointed out that employees could be placed on long-term paid leave for disciplinary reasons.
“The leave manual also provides that one authorized use of administrative leave is when an employee’s removal or indefinite suspension is proposed, and the employee’s continued presence at the work site during the notice period would constitute a threat to public property or the health and safety of coworkers or the public.”
The EPA has had to deal with employees who have threatened the work environment for their fellow workers before.
The OIG presented its findings to EPA Administrator Gina McCarthy on Oct. 30, and the agency is currently reviewing background information on the employees in question.