Bailouts, Wind Energy, and Credit Card Regulation
The Obama administration will announce today a new $14 billion bailout program to bail out some people who are underwater on their mortgages.
"So if you saved money for a down payment, you were a sucker. If you’d spent your money instead, the government might give you a bailout. But since your down payment reduced the size of your mortgage, your mortgage is smaller than the value of your house, and you don’t qualify for a bailout."
Many people are wondering whether offshore wind farms will be able to withstand Hurricane Earl, or other hurricanes in the future.
CEI's Director of energy and global warming policy Myron Ebell thinks it is doubtful.
"The people who manufacture the wind turbines insist they can handle high winds. But then there’s the example of that windmill in Oregon that collapsed in 25-mph winds back in 2007 and killed a guy who was working on it. That means wind power has already killed more Americans than have been killed by nuclear power in all our history."
Credit Card Regulation