CBO “Revises” Its 2014 GDP Forecast, Hilarity Ensues (As Always) – Tyler Durden

CBO “Revises” Its 2014 GDP Forecast, Hilarity Ensues (As Always) – Tyler Durden

The gross, in fact epic, incompetence of the Congressional Budget Office when it comes to doing its only job, forecasting the future state of the US economy, has previously been extensively documented here (and here and here and here). This incompetence is in the spotlight once again this morning with the CBO’s release of its latest forecast revision of its original February 2014 projection.

And while every aspect of the revised projection has changed, in an adverse direction of course, the punchline is the chart below: the CBO’s revised projection for 2014 GDP. It’s one of those “no comment necessary” visuals.

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Surprising? Hardly. After all the CBO is swarming with indoctrinated Keynesian cultists whose only achievement in life is to be wrong about everything (and then to blame the Fed for not “easing enough”). Here is how the CBO “explains” this 50%+ cut in its forecast in just 6 months:

CBO has lowered its projection of real growth of GDP in 2014 from 3.1 percent to 1.5 percent, reflecting the surprising economic weakness in the first half of the year.

Which as other Keynesian talking heads have already made quite clear was due to snow. That’s right: over $100 billion in forecast economic growth “evaporated” from the US economy because it… snowed.

The good news? The CBO refuses to forecast the “harsh weather” for the foreseeable future, and has kept all of its 2015 and onward GDP estimates as is. So when things go horribly wrong to the CBO’s forecast, which is 100% guaranteed to happen, the CBO can again blame “surprising economic weakness” because, well, everyone else is doing it.

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Those who wish to waste their time can find the source here.

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IRS Ethics Lawyer Faces Disbarment For Lying, Embezzlement

IRS Ethics Lawyer Accused Of Embezzlement, Might Lose Law License – Big Government

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A lawyer that works in the IRS ethics office faces charges that she lied to a court-appointed board looking into whether she embezzled several thousand dollars of her client’s money in a case she worked as a personal injury attorney before joining the IRS.

IRS ethics lawyer Takisha McGee is accused of diverting several thousand dollars she was supposed to pay to healthcare providers for a client in a case she took several years ago.

McGee is listed as a Section Manager of the Legal Analysis Branch on the IRS website.

Despite these public proceedings, the IRS refuses to comment on the case and continues to have McGee give lectures on ethics.

But theft isn’t all she stands accused of. McGee is also accused of lying to the D.C. Court of Appeals’ board of professional responsibility empanelled to review her case.

Additionally, she is accused of essentially intimidating her former client into writing a letter asking the board to dismiss the charges against her.

McGee’s client sent a letter to the board in 2011 saying that she was dropping any case against her one-time lawyer and urged the board to do the same. But the client later testified that McGee threatened to begin subpoenaing the client’s family members if the case continued.

“In its 43-page report, the board detailed the personal injury case, which resulted in an $8,900 insurance settlement,” The Washington Times reported this month. “But after receiving the settlement check, she failed to pay about $3,000 combined to two medical providers whom she was supposed to reimburse for treatment given to her client, according to records.”

Thus far the missing funds have not been located.

The board said it found “clear and convincing” evidence that McGee lied to them and that there was no reason to recommend any lesser punishment than a full disbarring.

“In addition to intentionally misappropriating third-party funds, respondent also violated a number of other ethics rules and gave false testimony during the hearing,” the board wrote in its ruling.

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Dipshit Tries To Get 12-Year-Old’s Lemonade Stand Shut Down – Town Tells Him To Get Bent

Man With No Life Tries to Squash 12 Year Old Lemonade Stand Entrepreneur Town Disagrees – Conservative Infidel

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An entrepreneurial boy’s efforts at his Florida neighborhood lemonade stand are not appreciated by one resident who has been fighting years to put him out of business.

T.J. Guerrero, 12, sells .50 cent cookies and $1 strawberry lemonade from a card table on a corner near his Dunedin home, when he’s not mowing lawns for extra cash to pay for his cell phone and dinners with his mother.

Business is good for Guerrero with many neighbors flocking to him for refreshment.

The traffic to the corner is what neighbor Doug Wilkey said is the problem in four separate e-mails he sent to the City Hall over the last two years to get Guerrero’s “illegal business” shut down, according to local news source Tampa Bay Times.

Wilkey, 61, contends the boy’s year-round business reduces his property value because of the excessive traffic, noise, trash, illegal parking it creates. Guerrero denied the exaggerated claim when he told the Times that he has never had more than five people in line at his stand.

The angry neighbor used fear tactics in his correspondence with the city in hopes to stop the street corner sales, “The city could possibly face repercussion in the event someone became ill from spoiled/contaminated food or drink sales,” Wilkey wrote in one email.

Dunedin planning and development director Greg Rice won’t shut the boy’s stand down and told Wilkey,”We are not out there trying to put lemonade stands out of business.”

Defending his stance on the offensive lemonade stand Wilkey wrote in his email, “If this were a once a year event by a couple kids to earn a little money for a holiday or something, I would not have a problem with it.”

The sheriff has been called on more than one occasion to keep the peace, but nothing has been permanently resolved.

Despite being so outspoken on the issue, Wilkey refused to talk to the Tampa Bay Times but became particularly enraged this summer when he wrote the town that the stand was back “AGAIN!!!!!!!!!!!!”

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*VIDEO* Alfonzo Rachel: No, Kareem Abdul-Jabbar, Ferguson Isn’t The Rich’s Fault


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*VIDEO* Ben Carson Speaks At Iowa GOP Event


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Nothing Nazistic About This At All…

Government To Track ‘False, Misleading’ Ideas On Twitter – Ricochet

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Nope, this isn’t unsettling:

The federal government is spending nearly $1 million to create an online database that will track “misinformation” and hate speech on Twitter.

The National Science Foundation is financing the creation of a web service that will monitor “suspicious memes” and what it considers “false and misleading ideas,” with a major focus on political activity online.

The “Truthy” database, created by researchers at Indiana University, is designed to “detect political smears, astroturfing, misinformation, and other social pollution.”

One G-man’s “social pollution” is another free man’s First Amendment right. The very term sounds like something out of a 1920s Italian fascist tract. And why is the federal government even deciding which ideas are “false and misleading,” let alone tracking them?

According to the project’s grant, the service “could mitigate the diffusion of false and misleading ideas, detect hate speech and subversive propaganda, and assist in the preservation of open debate.”

In 2004, dissent was “the highest form of patriotism.” A decade later, it’s called “subversive propaganda” and categorized as the lowest form of treason. Truthy would add a button to Twitter so that people could report their neighbors and family members for Thoughtcrime against the State.

Filippo Menczer (who sounds like an author of that 1920s Italian fascist tract) is Truthy’s lead investigator and closely affiliated with “non-partisan” groups like President Obama’s Organizing for Action, Moveon.org and Greenpeace. The software’s very name comes from ardent conservative hater Stephen Colbert.

It’s hard to denounce the more paranoid allegations of Obama’s opponents when his administration routinely goes beyond their wildest imaginings.

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Left-Wing Activist Judge Goes Out Of His Way To Prevent School Choice In North Carolina

One Judge Attempts To Block Thousands Of Students From Accessing School Vouchers – Daily Signal

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Last Thursday, North Carolina Superior Court Judge Robert Hobgood ruled the state’s school voucher program unconstitutional because the program “appropriates funds in a manner that does not accomplish a public purpose.” The Opportunity Scholarship Program was established last year and set to go into effect this school year, providing children from low-income families scholarships worth up to $4,200 to attend a private school of choice.

The ruling halts implementation of the program and suspends disbursement of scholarship funds.

In February Hobgood granted a preliminary injunction against the program, arguing that the vouchers were “likely” unconstitutional and halting applications to the program. But in May, the North Carolina Supreme Court issued a temporary stay against Hobgood’s ruling.

Hobgood declared the Opportunity Scholarships unconstitutional based on the state’s obligation to provide students a “sound basic education,” finding that the state could not “delegate this responsibility to unregulated private schools…”

The Institute for Justice has filed a motion to intervene in the case to defend the program.

“This decision from the judge was not unexpected, given his willingness to preliminarily enjoin the program last February. The Institute for Justice was successful in getting the North Carolina Supreme Court to stop that injunction and we hope to have similar success in stopping this one,” said IJ senior attorney Richard Komer. “We are moving quickly to try and get the program up and running again. We remain confident that the program is constitutional in all respects.”

According to Parents for Educational Freedom, over 5,500 families applied for the scholarship this year. The North Carolina State Education Assistance Authority, the organization managing the scholarships, notes that more than 1,800 of those students have already received their awards – and many of those students have begun their school year. It is now unclear whether those students will be able to attend their school of choice.

Darrell Allison, president of Parents for Educational Freedom in North Carolina, writes:

“Today’s ruling strikes at the heart of what thousands of North Carolina families have been fighting for over the past several months. With nearly 2,000 already enrolled and more than 300 private schools registered to educate these students, there is no doubt that the families, for whom this program is targeted, desperately desire this program. The Opportunity Scholarship Program is offering parents choices where none have existed before and is leveling the playing field when it comes to our state’s most disadvantaged children.”

Last year, North Carolina launched its first private school choice program, the Education Tax-Credit Program, while also adopting the Opportunity Scholarship Program. By doing so, North Carolina enacted options that could improve the educational landscape in the Tar Heel state for some of the most vulnerable students.

As the school choice march continues across the country, this ruling causes thousands of North Carolina students to wait, their educational futures on hold.

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