Wisconsin budget fix in action
As changes to collective bargaining powers for public workers take effect today, THE KAUKAUNA AREA SCHOOL DISTRICT IS POISED TO SWING FROM A PROJECTED $400,000 BUDGET SHORTFALL NEXT YEAR TO A $1.5 MILLION SURPLUS due to health care and retirement savings.
The Kaukauna School Board approved changes Monday to its employee handbook that require staff to cover 12.6 percent of their health insurance and to contribute 5.8 percent of their wages to the state’s pension system, in accordance with the new collective bargaining law, commonly known as Act 10.
“THESE IMPACTS WILL ALLOW THE DISTRICT TO HIRE ADDITIONAL TEACHERS (AND) REDUCE PROJECTED CLASS SIZES,” School Board President Todd Arnoldussen wrote in a statement Monday….
This isn’t the way the NEA is looking to reduce class sizes.
Class warfare: Good or bad for the economy
Obama — how good he is at healing wounds and bringing us together!
As one observer put it: "The president may think most Americans agree with him rich people should have their taxes raised, BUT HE SEEMS TO BE UNAWARE OF THE LINK BETWEEN JOB CREATION AND THE LEVEL OF TAXATION ON BUSINESSES AND BUSINESS OWNERS."
Not that his message is coherent: "BUT THE CORPORATE JET TAX BREAK TO WHICH OBAMA WAS REFERRING – called “accelerated depreciation,” and a popular Democratic foil of late – WAS CREATED BY HIS OWN STIMULUS PACKAGE."
Now, punditry is an art, not a science. But let's mimic science here.
We conservatives contend Obama's liberal rhetoric and plans discourage investment and growth.
Look at FDR's class warfare rhetoric. "THE FORGOTTEN MAN" BY AMITY SHLAES IS ONE GOOD LOOK AT WHAT HAPPENED. FDR LIKED RIPPING THE WEALTHY; AND THEY RESPONDED BY SITTING ON THEIR MONEY. THUS A PROLONGED DEPRESSION.
Look, the rich already have their money. And, duh, they're good with it. And money is darned handy. Especially when elections season rolls around. They'll protect the money they have, and they'll enjoy it….
It appears the more the Democrats do, the worse things become.
The Real Story of the Budget
One can learn quite a bit just from looking at federal spending over time. The history of our relationship with our government can almost be summarized in a graph.
Spending 3 in pictures
Lesson 10. Obama, the Democrats, and most media mislead on a daily basis.
PRESIDENT OBAMA RECENTLY SAID, "BUT WE CAN'T SIMPLY CUT OUR WAY TO PROSPERITY." Why not? That's what Presidents Reagan and Clinton did.
Obama also said, "I won't return to the failed theories of the last eight years." If he meant Bush's theory of compassionate conservatism that led to government spending growth, OBAMA NOT ONLY RETURNED TO THAT, HE DOUBLED DOWN AND DOUBLED DOWN AGAIN. Why didn't he imitate Clinton instead of Bush? Anyone who says we must spend 24% of GDP or more, or else we all die, hopes YOU WILL IGNORE ALL OUR HISTORY PRIOR TO OBAMA. Anyone who says if we try to cut spending, it will kill us, hopes you will ignore the 1983-2000 period of our history. That period of "austerity" happened under Presidents and Congresses of both parties, and resulted in the greatest sustained period of economic growth since the Great Depression. Anyone who says we live in some kind of laissez-faire free-market economy hopes you ignore the first 140 years of our country's history and the 700% growth in government (as a fraction of the economy) since 1930.
This article is well worth your time to read.
Bipartisan study confirms: default in Geithner's hands
The Bipartisan Policy Center released a Debt Ceiling Analysis today showing that EVEN IF CONGRESS DOES NOT RAISE THE DEBT CEILING BY AUGUST 2ND, THE FEDERAL GOVERNMENT WOULD STILL HAVE ENOUGH INCOMING REVENUE TO PAY: ALL INTEREST ON TREASURY SECURITIES (THUS AVOIDING DEFAULT), ALL SOCIAL SECURITY OBLIGATIONS, ALL MEDICARE AND MEDICAID OBLIGATIONS, ALL DEFENSE CONTRACTOR BILLS, ALL VETERANS PAYMENTS, AND ALL ACTIVE DUTY TROOPS, AND STILL HAVE ALMOST $7 BILLION left over for other items.
The report does note that "inflows and outflows do not match up well and are quite lumpy," but they do assume that "Treasury would nonetheless be forced to attempt to prioritize payments despite the difficulty of doing so." Overall, federal spending would be cut by 44 percent for the month of August which would cause "widespread uncertainty as decisions are made day by day."
I guess August 2 isn't a drop dead date after all.