Cojones the size of basketballs

Here come their drastic cuts in domestic spending to pay for their drastic tax cuts for cronies.LA Times

With budgets for most federal agencies still in limbo, congressional Republicans are drafting a spending bill for the 3-month-old fiscal year that would slash billions of dollars for domestic programs the Senate approved when it was under Democratic control last year.

The bill will hew to the tight constraint of $385 billion that President Bush set for domestic spending after the Republicans gained full control of Congress in the midterm elections. As a result, lawmakers from both parties face battles over how to divvy up scarce dollars among their favorite programs.

Among the potential trade-offs: Should the National Institutes of Health get a big boost at the expense of education programs? Should the U.S. Customs Service sacrifice to make room for reforms in election procedures? And should the government scale back parks and public land programs to bolster homeland security?

Thankfully, however, they will not be skimping on the salaries of the new accounting oversight board members. NY Times

Six months after it was created by Congress, the new board overseeing the accounting profession — the centerpiece of reform legislation after a year of corporate scandal — held its first formal meeting today without a permanent chairman, a senior staff or a final budget.

During the meeting, the new board members voted themselves annual salaries of $452,000, or $52,000 more than the pay of the president. (Once it has a chairman, the board said, it plans to pay that official $560,000.) They also ratified a lease to put their Washington headquarters in the K Street space that was vacated by the accounting firm Arthur Andersen after it collapsed last year.

Now, the SEC will probably have to wait for a while before it gets all the money it needs to more thoroughly oversee the US financial markets because, gosh darn it, we just don’t have the money.

President Bush signed with great fanfare the legislation calling for the $776 million budget last July. Less than three months later, his administration said it supported an appropriation of $568 million for the agency. After the administration was criticized for supporting the scaled-back budget, officials said they would be willing to seek more but never said how much.

In announcing his selection of Mr. Donaldson to succeed Mr. Pitt, President Bush vowed last month to seek a substantial increase in the S.E.C.’s budget for the 2004 fiscal year. Critics say that proposal, while helpful, would defer necessary increases in the agency’s staff and improvements in its outdated technology for more than a year after the passage of the law that both identified the shortfall in the agency’s resources and increased its mission.

But, not to worry. Tough new rules are being pushed through as quickly as humanly possible so that investors can once again have faith in the accounting of American businesses. And, thankfully, there is someone in charge who we know we can trust.

The board was formally introduced today by Harvey L. Pitt, who remains the chairman of the S.E.C. despite resigning two months ago because of criticism over the selection of the new oversight agency. He continues to serve during one of the commission’s busiest rule-making periods in history and plans to remain until the confirmation of William H. Donaldson, who has been selected to succeed him. That process could take months

Harvey Pitt is still on the job, overseeing the biggest retrenchment of the SEC since its inception.

Even though he was forced to resign because of his bad judgment with the Webster appointment.

WTF?

They get away with this crap because they have no fear of repercussions and no consciences. Their grand ambition, with it’s tentacles relentlessly slithering through all areas of government, is so overwhelming that you feel a creeping sense of paralysis when you consider their awesome singlemindedness. Casual hypocrisy, blatent corruption and outright mendacity are so pervasive in this administration that it’s exhausting trying to keep track of it all.

It’s a very effective strategy because after a while you can’t help but begin to think that Resistence Is Futile.