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If president Obama gets his way, still more money, up to $50 billion, will be thrown at the failed Pell Grant system. Pell Grants are based on a means test and the funding comes with no strings attached. The money does not have to be repaid. That alone should tell you the program is rife with fraud. And it is.

Regardless of grades, ability, or likelihood to graduate, students can apply for the money, take it and run, without ever attending one day of class. Many do.

Those who do use the money for education, as apposed to partying and drugs, frequently waste it on useless degrees that leave students deep in debt after graduation, assuming of course the students even graduate.

Obama Wants To Throw More Money Down This Obvious Sinkhole

Let's start off with a review of the most recent proposal as described by the Washington Post in New funding projection could squeeze Obama's education agenda.

Today, in lieu of a cartoon today, let's take a look at an article that belongs in The Onion, or the back page of the Sunday Funnies.

The only problem is the author is dead serious. Please consider In Defense of Deficits

In Defense of Deficits

There are two ways to get the increase in total spending that we call "economic growth." One way is for government to spend. The other is for banks to lend. Leaving aside short-term adjustments like increased net exports or financial innovation, that's basically all there is.

Governments and banks are the two entities with the power to create something from nothing. If total spending power is to grow, one or the other of these two great financial motors--public deficits or private loans--has to be in action.

When Obama says, even offhand, that the United States is "out of money," he's talking nonsense--dangerous nonsense. One wonders if he believes it.

Here are a pair of articles about the recovery in Texas that simply did not happen. Please consider New data, new story on jobs.

For much of 2009, Central Texas business leaders hung their hats on reports that showed, even in a recession, Austin was still adding jobs.

Turns out there was a problem with those positive reports: They were wrong.

Revised figures show Austin lost more in '09, and numbers began to decline earlier than thought.

The revised data also show that Texas as a whole had a tougher job market last year than thought. The state lost 354,000 jobs in 2009, which is 78,000 more than the 276,000 previously estimated, according to the updated data.

The commission and its counterparts around the country revise their job data each year based on newly available information from employers' tax records that show how many people were on payrolls. The monthly numbers are estimates, based on surveys from employers.

On March 12 the Guardian reported Greece debt: EU agrees bailout deal

Exclusive: Germany plays pivotal role in potential eurozone rescue package for Greek debts

The eurozone has agreed a multibillion-euro bailout for Greece as part of a package to shore up the single currency after weeks of crisis, the Guardian has learnt.

Senior sources in Brussels said that Berlin had bowed to the bailout agreement despite huge resistance in Germany and that the finance ministers of the "eurozone" – the 16 member states including Greece who use the euro – are to finalise the rescue package on Monday. The single currency's rulebook will also be rewritten to enforce greater fiscal discipline among members.

The member states have agreed on "co-ordinated bilateral contributions" in the form of loans or loan guarantees to Greece if Athens finds itself unable to refinance its soaring debt and requests help from the EU, a senior European commission official said.