Americans getting Ripped Off at the Pump!!!

Currently the Gasoline Futures are just above $2.50 a gallon.  Typically the price of regular unleaded gas will be 30 to 40 cents above the Futures value.  According to the latest data from GasBuddy the average price of regular unleaded is around $3.40.  Thus Americans are paying on average 50 to 60 cents above what they should be based on the Gasoline Futures.

Where are the Leaders

I'm getting so tired of the political ads being run by Obama and Romney and it's only going to get worse as the election nears.  It's time for someone to step up who has no ties to the political system to be President.  I know this would be a shock to the political system but that is want is needed.   Nothing will change much if Obama is reelected or Romney gets voted in.   

No Raise in 2013

It appears likely there will be no pay raise in 2013 so that will make it 3 years in a row.

Monthly Federal Deficits

Well at least Obama avoided being the only President in modern history to never have one Monthly Surplus as April ended up being positive.  However it didn't last long as May came in with a $100 Billion + deficit.

CBO Grows a Pair

If you haven't read the latest CBO Budget Outlook you can see it at http://www.cbo.gov/publication/43288

Here are their main conclusions:

What Is the Impact of Growing Deficits and Debt?
In particular, large budget deficits and growing debt would reduce national saving, leading to higher interest rates, more borrowing from abroad, and less domestic investment—which in turn would lower the growth of incomes in the United States.

Rising debt also would have other negative consequences beyond those estimated effects on output.
It would:

1. Result in higher interest payments on that debt, which would eventually require higher taxes, a reduction in government benefits and services, or some combination of the two.

2. Restrict policymakers’ ability to use tax and spending policies to respond to unexpected challenges, such as  economic downturns or financial crises.
 
3. Increase the probability of a sudden fiscal crisis, during which the government would lose its ability to borrow at affordable rates.

This pretty much says it all.  Either the US gets it house in order or major problems will occur in the coming years. 

National Weather Service could Furlough Employee's

Interesting Article at http://www.washingtonpost.com/politics/weather-service-says-furloughs-possible-if-no-deal-struck/2012/06/07/gJQAGMyTMV_story.html?wpisrc=nl_fedinsider#

I know where they can get 33 million real quick by getting rid of AWIPS 2 which is supposed to be better than AWIPS 1 and isn't.  Let's see Raytheon gets a 333 million dollar contract for 10 years and AWIPS 2 ends up being a disaster. 

623 Billion until Debt Ceiling Reached

Based on the end on May data the US is only 623 Billion from reaching the debt ceiling which will likely be reached before the end of the year.