Points and Figures: Is Good Government In Your Corner?
A lot of people say that they don’t mind paying taxes because they receive good government in return. Schools, roads, infrastructure and other benefits. In some cases, that is true. But, what we are finding time and time again crony capitalism infects Big Government even more than it does in Big Corporate. It’s also harder to get rid of and becomes chronic. Total devastation doesn’t get rid of it.
We all know the story of Detroit. The local economy collapsed because it was hitched to one industry. But, Detroit also had big government. Detroit has the highest property tax rate in the entire United States. Detroit had a massive regulatory bureaucracy.
In the downfall, crime escalated. Infrastructure crumbled. Detroit became a metaphor for failure and laughingstock all at the same time. Many people escaped and left. The ones that remained had to fight for survival.
washington Post: Even amid recovery, state budgets bleed red ink
When Bruce Rauner becomes the governor of Illinois next month, the Republican businessman will inherit a budget shortfall so deep he isalready apologizing for the painful cuts his administration will have to make.
Maryland Gov.-elect Larry Hogan’s (R) priorities may be put on hold as well as he makes cuts necessary to make up for a $900 million budget gap. Pennsylvania’s incoming governor, Tom Wolf (D), will have to fill a $1.8 billion budget hole left by his predecessor when he enters office.
Across the country, five years after the economic recession blasted major holes in government budgets, many states are still struggling to balance their books. The red ink is not limited to one party: Maryland’s shortfall grew under Democratic Gov. Martin O’Malley, while Kansas’s nearly $1 billion shortfall over the next two years is a product of tax policies backed by Republican Gov. Sam Brownback.
Huffington Post: Congress Fails To Revise Government Records Law
Advocates for greater openness in government were frustrated after Congress failed to update the Freedom of Information Act despite bipartisan support in the House and Senate.
Without a new law, government agencies are likely to continue stonewalling requests for records and other information, said Amy Bennett, assistant director ofOpenTheGovernment.org, an advocacy group.
Daily Herald: Elgin's northwest side no longer a 'food desert'
Until Butera Market opened on Elgin’s northwest side, local residents had to drive at least two miles to find a good selection of fresh fruit and vegetables.
They could buy essentials like milk and bread at a convenience store, but only at steeper prices than grocery stores, said resident Deidre Snelson Plavsic, whose parents live near the new store at 20 Tyler Creek Plaza.
Investors: Dodd-Frank's Real Cost Is Nearly $200 Billion A Year
In the wake of the recent elections, there is one thing both parties still agree on: Middle-income families are being squeezed and voters are angry.
But why? And what should be done about it?
Our politicians have placed any number of barriers in the way of prosperity, and one of the most costly has been the Dodd-Frank financial reforms (DF).
Congress passed this 2,300-page law in 2010. It since has spawned a massive new regulatory environment with an impact reaching far beyond the nation’s $1.1 trillion financial services industry.
CNN: Congress moves one step closer to allowing pension cuts
The House of Representatives approved the proposal late Thursday night as part of a last-minute government spending bill. The bill now heads to the Senate, which is expected to vote on the funding bill by midnight on Saturday.
While those sponsoring the pension proposal say it is “the only available option” to save failing multiemployer pension plans, other groups — like the AARP and the Pension Rights Center — are crying foul.
Multiemployer pension plans cover more than 10 million workers and retirees in the trucking, manufacturing and other industries. But many of these plans have struggled in the last decade as they grapple with an aging workforce and major investment losses from the recession. Plus, many larger employers have pulled out of the plans.