“Its failure (Congress) to do anything [about entitlement programs] — despite numerous warnings from economists from across the political spectrum — makes the case that only the SAFE approach has any chance of working.

There is little encouragement on this issue from the presidential campaign. An analysis by the National Taxpayers Union found that the new programs proposed by Barack Obama would increase federal spending by $343.6 billion, while John McCains’ would push expenditures up by $68.5 billion.

Both are essentially ignoring the entitlement crisis. Instead of adding to the spending burden by proposing new federal programs, Obama and McCain should get on board the SAFE bus.”

"The one thing we fail to talk about is those costs that you don't see on the bottom line. That is coal makes us sick, oil makes us sick; it's global warming. It's ruining our country, it’s ruining our world. We’ve got to stop using fossil fuel.”

The good thing about being relegated to the desert for a season, is that it provides an opportunity for new leaders to rise from the ashes.  Yesterday, I had a chance to interview Rep. Jim Jordan (OH-4) -- one of the exciting young conservative "rising stars" who have recently stormed onto the political scene to give us hope for the future of the conservative movement and the GOP.

Jordan, a young Congressman from Ohio, caught my eye recently when he launched a petition to defend the rights of an Ohio Judge who wanted to display the 10 Commandments in his courtroom.  As Jordan tells me:     

“There is a struggle in America over whose set of principles are going to prevail, and those of us who believe that there are certain factors that make us the greatest country in history … we think we have an obligation to defend those principles that are just central to who we are as a culture and a country," he tells me.

... But Jordan isn’t just a social conservative; he’s also a solid fiscal conservative who views spending as a “moral issue.”  He was an economics major at the University of Wisconsin, but his fiscal conservatism isn’t strictly academic. 

For example, recently, Jordan -- who comes from an agricultural district in Ohio --voted against the Farm Bill because, as he tells me:  “… it had ridiculous levels of spending.  Over two thirds of the bill doesn’t deal with agriculture, it deals with food stamps.” 

Like other members of his Congressional class, Jordan is critical of Congress: 

“The things that would make a difference for families across this county ... time and time again, the Congress doesn’t focus on that.  But yet, there’s time for Roger Clemens to come in and talk about steroids.   … I forget how many thousands of post office re-namings we’ve done."

If he hopes to change the culture in Washington, Jordan will have his hands full.  But he's used to fighting.  A former wrestler, Jordan equates wresting with political campaigns and public policy battles.  As he tells me, if you out-work the other guy, you have a good chance of winning.

This is one Member of Congress we will be keeping an eye on as a conservative rising star.

Summer means many things.  For kids, school has let out, for friends and family it means many backyard barbeques, but for Congress it means one thing….Pork.

This morning Citizens Against Government Waste released its preliminary report of 6 of the House’s appropriations bills, and already earmarks are at a higher level than that of last year.  But you don’t have to take my word for it, look for yourself.

Commerce, Justice, Science:  CAGW has documented 1,123 projects at a cost of $409.8 million.

Energy & Water:  CAGW found 655 projects at a cost of $821 million.

Financial Services:  There are 197 projects costing $57 million, which represents a 45 percent increase in projects and an 84 percent increase in dollar amounts from CAGW’s calculation for the fiscal year 2008 House bill.

Interior:  For fiscal year 2009, CAGW has enumerated 247 projects at a cost of $134.9 million.  In fiscal year 2008, CAGW found 226 projects worth $111 million in the House bill.  The 2009 totals represent a 9.3 percent increase in projects and a 21.5 percent increase in dollar amount from 2008.

Labor/HHS:  For fiscal year 2009, CAGW calculated that there are 1,370 earmarks at a cost of $618.8 million.  In fiscal year 2008, CAGW found 1,305 projects costing $277.9 million in the House bill.  The number of projects increased by 5 percent, but the dollar amount jumped by a whopping 122 percent.

Military Construction:  CAGW found 102 earmarks costing $621.3 million.

Sweetheart Mortgage Loan Deals: Senators Only?

House Republicans, led by Republican Study Committee Chairman Jeb Hensarling, sent this letter to Financial Services Committee Chairman Barney Frank (D-MA) requesting a hearing on Countrywide Financial’s VIP treatment on mortgage loans to Senate Banking Committee Chairman Chris Dodd (read this letter!) and Senate Budget Committee Chairman Kent Conrad.  And as the Politico has reported, all of the 100 members of the Senate were contacted about the terms of their mortgages, and it looks like they’re not talking.  Now I’ve had to fill out these financial disclosure forms before, and trust me, they leave no stone uncovered.  If you’re looking for financial privacy, public office is the last place you’ll find it.  So it looks like these Senators have figured out the loophole to keep their mortgage rates under wraps, but Senators Cornyn and Boxer have offered an amendment to the (stalled) housing bill that will require these details to be shared.   

Now the Action Points...

Contact (meaning call, don’t email) Chairman Barney Frank and tell him you’ve read this letter and you’d like to see an immediate hearing on the sweetheart loan deals that Senators are receiving while their constituents are supposedly drowning in mortgage debt. 

Also make sure to check in with your Senator and make sure they are providing that information.  If not, you may have reason to be suspicious. 

Rep. Hensarling’s letter after the jump...

 
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The Department of Justice and the Federal Bureau of Investigation charged more than 400 defendants in a nationwide fraud scheme coined “Malicious Mortgage” Thursday.

Two of those indicted included Ralph Cioffi and Matthew Tanin, former senior managers of the now bankrupt Bear Stearns hedge funds. Their indictment estimates they misrepresented the worth of their hedge funds resulting in a $1.4 billion loss to Bear Stearns investors.

Operation Malicious Mortgage found 144 mortgage fraud cases and have charged 406 defendants as a result of those cases.

The Boeing Company protested the award of a contract to Northrop Grumman Systems Corporation under solicitation No. FA8625-07-R-6470, issued by the Department of the Air Force, for KC-X aerial refueling tankers to begin replacing its aging tanker fleet. Boeing challenged the Air Force’s technical and cost evaluations, conduct of discussions, and source selection decision.

Our Office sustained Boeing’s protest on June 18, 2008. The 69-page decision was issued under a protective order, because the decision contains proprietary and source selection sensitive information. We have directed counsel for the parties to promptly identify information that cannot be publicly released so that we can expeditiously prepare and release, as soon as possible, a public version of the decision.
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