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Deficit busting makes it a Happy Friday!By Nick, Section News
It literally felt like it took all week to get here but the wait is over... ladies and gentlemen, boys and girls, loyal RightMichigan readers and first time visitors... it is Happy Friday!
How are each of you on this magnificent morning? I woke up with a spring in my step and a song in my heart. (It was the theme song for Perfect Strangers, if you were wondering.) Toss in the fact that the Tigers play two today against the hated Chicago White Sox complete with a chance to expand the percentage-points division lead and how could anyone complain on a day like today? Well, I mean, I know HOW folks could complain. But if that's all you want to do then you're going to have to take that noise somewhere else. Nobody's brining the rest of us down on a Happy Friday. Now... to the news! Let's start in the Ivory Tower, which scored an encouraging exclusive interview with Detroit Mayor Dave Bing. During their private sit-down Bing announced that he'd seen the light and better, he's ready to act on the Motor City's financial troubles:
Bonus for Detroiters... not a new tax hike on the list. Remember, Bing is a Democrat in a 100% Democratic City but he's also a successful businessman who knows exactly what tax increases do to current and potential job makers. The fact that he's looking to plug a $25 million deficit by right-sizing government should be enough to get every Detroiter jumping up and down. Except, maybe, for some of the over-priced bureaucrats whose jobs are suddenly in danger. (And yes... that counts as happy news, too.) Bing's apparent leadership on the whole deficit issue looks even sunnier when compared to his Party's leaders in Lansing. The Granholm-Cherry administration took precisely the opposite approach yesterday during their own discussions about pools of red ink but even that provided some of the better news conservatives have had in a long, long time! (There's a bright, shiny silver lining if you read on...)
According to Peter Luke:
One Democrat said one list under discussion would target more than $5 billion in tax credits. A 10-percent reduction in their value would yield about $500 million.
Republicans publicly remain firmly opposed to new revenue. Senate-approved budget cuts in excess of $1 billion involve steep reductions to medical providers, community mental health agencies and municipalities.
State Rep. Kevin Elsenheimer of Bellaire, the Republican leader in the House, said if California can solve a $26 billion deficit without raising taxes, then Michigan, with a deficit a fraction of that size, can do the same. So the Granholm-Cherry administration and Democratic politicians in Lansing want to raise taxes by $500 million. To toss on the back of the $1.5 billion in tax hikes they gave us in 2007. That'd be $2 billion in new taxes in the last two years. I know, I know... that's not happy news... (especially understanding that a $500 million tax hike on various businesses will be passed immediately along ton consumers) but what followed in Luke's article certainly was! Mike Bishop and the Senate GOP and Kevin Elsenheimer and the House GOP haven't just said "no new taxes," they've actually come up with plans to balance the budget without them! Plus, and if this doesn't make you happy I'm at a complete loss as to what will... as of today we've only got 526 days until a new governor is sworn in on the Capitol steps! See? Happy Friday!
Deficit busting makes it a Happy Friday! | 3 comments (3 topical, 0 hidden)
Deficit busting makes it a Happy Friday! | 3 comments (3 topical, 0 hidden)
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