Friday Afternoon News Roundup

Here are some stories I collected this week that I think you might be interested in.

Egypt Revolution Failing
Essentially, the revolution in Egypt is falling into chaos. Obama is very willing to force the leaders of other countries out of power, but the result can easily be far worse than the status quo. We're seeing that develop in Egypt.
http://www.msnbc.msn.com/id/43350732/ns=world_news-the_new_york_times&t=revolution-was-curse-economic-woes-test-egypt

Secret Law?
This is a developing story, but apparently the US government has an "official interpretation" of the Patriot Act that is classified... We're not allowed to know what it is. But a Congressman is working to change that. "Americans would be alarmed if they knew how this law is being carried out."
http://www.cato.org/pub_display.php?pub_id=13180

Rising Electricity Rates... Thanks, Obama
Before he was elected President, Obama declared he wanted to make electricity more expensive to all, for environmental reasons. He is doing precisely that, with new EPA regulations that are forcing existing coal-fired power plants to close down.
http://thehill.com/blogs/e2-wire/677-e2-wire/165651-aep-epa-regs-will-cost-billions-and-result-in-five-closed-plants

ObamaCare Mandate Problems
I'm sure that you've heard by now of a survey showing 30% - 50% of businesses plan to terminate their insurance plans once the 2014 ObamaCare regulations go into effect. That means a huge number of American workers will lose their insurance and be forced to enter the government-run exchanges. This is bad. Very bad.
http://blog.heritage.org/2011/06/09/morning-bell-americans-will-suffer-under-new-obamacare-mandates/

War In Libya Costs More Than Estimated
The war in Libya is running way over budget. Is anybody surprised?
http://www.voanews.com/english/news/usa/Report--US-Costs-for-Libya-Soaring-123543159.html

Obama's Example Not So Hot
Last week, PresBo touted a restaurant as a success story, as having benefitted from the government "saving" the US auto industry. Essentially, the argument went, if they hadn't saved the auto industry, the restaurant would not be doing so well, which is proof that the government bailouts had far more effects than just the auto company's. THIS week, however, the restaurant announces it is closing its doors. Ooops.
http://www.huffingtonpost.com/2011/06/09/new-chets-ohio-restaurant_n_874619.html?icid=maing-grid7%7Cmain5%7Cdl5%7Csec3_lnk1%7C69747

How Bad Is Our Debt?
Far worse than you may think. Last year alone, PresBo and his Democrat allies increased our long-term financial obligations by $5.3 trillion!
http://blog.heritage.org/2011/06/07/governments-unfunded-obligations-now-total-534000-per-household/

Ridiculous Regulations
For those who think regulations are good, think about this. Federal regulations require a big "F" to be painted on a train so we can easily tell which end is the front. Moreover, the first wheel on the right has to be painted with "R1," because presumably regulators aren't smart enough to understand how it's possible to determine that information without the handy-dandy paint.
http://blog.heritage.org/2011/06/07/tales-of-the-red-tape-13-an-%E2%80%9Cf%E2%80%9D-for-train-regulation/

The Economy Is Worse Than You Think
This is a good article on the many indicators showing the direction of the economy... and unfortunately it's not good news.
http://online.wsj.com/article/SB10001424052702303657404576363984173620692.html


Here you go, I hope you find these informative and entertaining.