Posts Tagged ‘Budget’
Texas vs. California Roundup for February 6, 2013
Wednesday, February 6th, 2013
Rick Perry’s State of the State Address
Wednesday, January 30th, 2013Rick Perry delivered his State of the State address on Tuesday. Here’s the complete text.
And here’s the speech itself:
A mixture of interesting tidbits on the Texas success story, some generic inspirational boilerplate, and some broad outline policy proposals.
Good: More constrained spending, tax cuts, no ObamaCare expansion.
Probably bad: “$3.7 billion from the Rainy Day Fund for a one-time investment in infrastructure programs.” There are, in fact, some infrastructure improvements that would be made around the state, but Perry has occasionally supported infrastructure boondoggles (like the Trans-Texas Corridor) in the past.
The general outlines are very good, but the devil is in the details, which should be forthcoming in the current legislative session.
Texas vs. California: January 24, 2013 Roundup
Thursday, January 24th, 2013Meant to put some of these up with Tuesday’s roundup and just misplaced them:
Six California counties with their own pensions (instead of paying into the Golden State’s Public Employees’ Retirement System) would actually have to pay down $10 billion in pension deficits, versus the $4 billion they currently report bad on inflated rates of return. As a result, these counties would be expected by bondholders to pay out $1.4 billion a year just to pay down their pension deficits, more than double the $640 million they currently pay. For Contra Costa County near San Francisco, the percentage of property tax dollars devoted to pension deficit pay down would increase from 33 percent to 54 percent, crowding out funding for basic municipal activities. In short, these governments would be considered technically insolvent under Moody’s model.
Texas vs. California: January 22, 2013
Tuesday, January 22nd, 2013Another quick roundup of Texas’ economic strength, and California’s blue state decline:
Lamar Smith Among Four Texas Congressmen Who Voted for Massive Tax Hike
Wednesday, January 2nd, 2013In addition to both Texas Senators (John Cornyn, who should have known better, and the retiring Kay Baily Hutchison, who came in like a lion and is going out like a RINO; thank God Ted Cruz is replacing her), four Republican Texas congressmen voted for the “Fiscal Cliff” tax hike deal:
All should have known better than to vote for a bill that contained $41 dollars in new taxes for every $1 in spending cuts, but the name Lamar Smith certainly sticks out thanks to such previous hits as “Hi, I’m a SOPA/PIPA Recording Industry Whore.” It’s no surprise, given the bill includes big tax breaks for Hollywood. I guess Smith is one of those politicians that stays bought.
All should expect primary challenges.
I’m happy to say that my own Representative, John Carter, voted against the bill.
I haven’t had time to read the entire bill yet, so I can’t tell you whether it’s merely bad or actively horrific…
If You Do One Thing Today, Write Congress to Support Budget Cuts
Monday, December 31st, 2012Write your senators and congressmen to let them know you oppose any “Fiscal Cliff” deal that doesn’t include substantial entitlement reform and real spending cuts, not dummy out-year cuts that will never happen. Write them now, because they will come under tremendous pressure to cave into big spending, big taxing Democrats desperate to keep that deficit spending heroin flowing.
Deficit spending will destroy our economy. The problem is not that we’re undertaxed, the problem is that the federal government spends insanely more money than we have in order to fund a vast array of crony capitalists, special interest groups, and permanent dole underclass for Democrats to milk for votes. If we continue down the current road, we will end up like Greece. There’s time to avoid going over the falls, but it’s getting shorter all the time.
Without spending reform, there’s a good chance that this nation of the people, by the people and for the people may very well perish from this earth.
The Real Apocalypse
Friday, December 21st, 2012I hope you’ve been enjoying your mythical Mayan Apocalypse.
But there’s a real, slow motion apocalypse that’s been going on all around you, and nobody is panicking about it, at least not in the open. I’m not talking specifically about the fiscal cliff, which is only a symptom of the problem rather than the problem itself.
The real apocalypse is out-of-control federal spending, and the tsunami of debt it’s creating. And I don’t feel “apocalypse” is too strong a word. Excessive debt destroys economies. When the money printing presses run unchecked for years on end, hyperinflation is the inevitable result.
The only reason we’re not suffering from hyperinflation right now is that Europe is sucking worse than we are. The Spanish economy is failing. The Greek economy has already failed. Were it not for that, it’s likely our huge budget deficits and the Fed’s printing presses would have already caused the Euro to replace the dollar as the world’s reserve currency. And, as Mark Steyn is fond of pointing out, Germany’s economy is big enough to bail out Greece and Spain. No one’s economy is big enough to bail us out.
Obama and the Democratic Party has wagered our future on the proposition that they can run trillion dollar deficits for years on end without destroying the value of the American dollar. If they’re right, they deserve to win, since everything we know about economics is wrong, and we can just print dollars until we’re all rich.
But the fundamental laws of economics haven’t been repealed. A reckoning is coming, and it’s going to destroy savings, economies and lives. And professional politicians, the Democratic Party, lobbyists and their mainstream media enablers would prefer to talk about anything else but the looming catastrophe. No wonder they want to talk about gun control and “the war on women.” Anything to keep the con game going until they’ve sucked the body politics dry. Just keep that deficit spending heroin coming.
The only question about that reckoning is exactly when it’s coming, and exactly how bad it will be. If we’re lucky, it will only be as bad as Argentina 2001. If we’re not, then we’re talking Weimer Germany 1921-23.
Get ready.
Texas vs. California: 12/12/12 Edition
Thursday, December 13th, 2012This was supposed to go up last night, but there was a glitch. Ten hours late sounds about right for California…