Tag: Debt

"Live now, pay later,"

Aside from the obvious reference to unearned hedonism and individual irresponsibility, it should be noted that governments derived from such careless individuals as the "live now" crowd can bring all of us even closer to being debt slaves.  Yet even without the notion of pleasure as an advance reward to leadership, the function of government runs unabated. One might find it differently in private enterprise however, according to Jack Spencer at Cap Con:

"In the private sector, businesses can't ignore economic reality by giving in to unrealistic union demands. They open their books and say, "look, we've had a lousy couple of years. We have to cut back or go under. We can't give you what you want." That reality check doesn't apply to government, which is always bargaining with other people's money. Those "other people" are us, the taxpayers. Over the decades, when faced with unpopular choices of cutting services or raising taxes, government officials have given unions most of what they asked for and left the tab to be picked up by future generations."

I've been there.  In fact, I have been in both places simultaneously.  At the business owned by my wife and I, folks haven't received raises in three years, yet as a county commissioner in 2012 I was present while union employees received automatic 1.5% increases. It made no sense to me that it should be so easy for a nearly unanimous Republican board to approve of such a thing, but over the years we have discovered that fiscal insanity is a scourge that has set upon both Capulet AND House Montague.

And it is generational too.  So much so, that entire infrastructures are collapsing from the weight that has long had its supports removed.  Pensions as a part of governmental financial negligence as referenced in the Cap Con piece above are responsible for cities literally falling apart, and legitimate public safety services being eliminated.

So what have we done to solve this?

He pads the expenses with his own services.

The ivory tower reports Foreclosure Don David Trott has heavily invested in his own campaign to become a US congressman.

"An Oakland County lawyer has raised nearly $650,000 in a month on the campaign trail -- including more than $200,000 from himself -- far outdistancing the Republican congressman he hopes to unseat."

However, Trott isn't really leaving himself as exposed as those whom he has made his living off of for so many years.  Risk is for losers, right?  Get a few Daddy war-BUCKS from Cronyist liberal Illitch family, some Devos dollars, and bill yourself heavily so that an amended filing pays you for your time.  The story continues:

".. Trott contributed more than $105,000 in in-kind services -- including research, consulting and legal fees -- as well as putting $102,600 of his own money into the campaign, according to FEC records.

It seems that the "more than $105,000" number can be considered a debt of the campaign with a little modification of the paperwork.  Add that to his personal $102,600 cash infusion, and he could make a little ka-ching for his troubles as long as there are others filling the coffers.

"While I am accepting of the fact that we need to move beyond this battle, I remain disappointed that the President and Senate Democrats failed to negotiate in good faith with the House to find a long term solution to many of these issues. Washington now needs to move past this gridlock and instead focus on policies that will create jobs and a healthy economy. Addressing the status quo of trillion dollar deficits, a weak economy, and a health care law that is unfair and harmful to families and our economy needs to remain at the forefront of Congressional efforts to find positive solutions."

As soon as I get a chance to identify if there are any GOP cowards from Michigan we'll make sure they see the wall of shame for at least 6-8 months or until a primary is assured for their seat.  The "deal" appears to have another provision that should fill your drawers with last night's cream corn and ask why the GOP exists at all. Politico reports:

"The legislation also includes a McConnell-written proposal that would allow Congress to disapprove of the debt-ceiling increase. Lawmakers will formally vote on rejecting the bump of the borrowing limit - if it passed, it could be vetoed by Obama.

The deal would also deliver back pay to furloughed federal workers, require a study of income verification for people seeking health-insurance subsidies under the Affordable Care Act and also allows the Treasury Department to use extraordinary measures to pay the nation's bills if Congress doesn't raise the debt ceiling in a timely fashion.

"The plan includes a proposal offered by McConnell in the 2011 debt ceiling crisis that allows Congress to disapprove of the debt ceiling increase, which means lawmakers will formally vote on whether to reject a debt ceiling increase until Feb. 7. Obama can veto that legislation if it passes. If Congress fails as expected to gather a two-thirds majority to override the veto, the debt ceiling would be raised.

we know that "standing" is a common way of denying the adequate redress of our grievances to the court as it is, so this might well be a lost cause.

Debt is supposed to be temporary.  

Washington, D.C. - Rep Tim Walberg released the following statement on his vote against yesterday's year-end tax plan:

"I am extremely disappointed after all the negotiations and effort that went into avoiding the so-called `fiscal cliff', the president and Congress again put off meaningful action to reduce spending and secure the future for our children and grandchildren. Again, with our economy struggling, it's clear that Washington missed an opportunity to promote tax and spending policies that will grow our economy over the long-term.

I believe the federal government needs to live within its means, because trillion-dollar deficits threaten our economy and opportunities for future generations. I will continue to support immediate spending reductions, reforming our tax code and a Balanced Budget Amendment to hold Congress accountable and require fiscal responsibility. It is my hope that this will begin in the next Congress and lead to a long-term solution."

The cost to our communities from special assessments, millages and general apathy to the financial wherewithal of constituents can be appalling.  Cheryl has written up in just a few paragraphs, a story that can be related and well understood in dozens of townships throughout Michigan.  Examples of over-planning, a desire for the best, yet without the ability to pay, and property owners which find themselves on the raw end of someone else' ambition.

This is just one true tale, that as yet has not ended.

WHITEWATER TOWNSHIP BOARD'S "ROAD TO RUIN"
by Cheryl Walton

In January/February 2005, a petition for paving 4 roads (Watson, Mabel, Deal, and Lackey) was circulated to road frontage owners.  A sheet accompanying the petition estimated the total cost of paving to be $1 million, to be split half and half between the Grand Traverse County Road Commission and the property owners, with the annual cost per "benefit" estimated at $200 annually for 10 years.  More than 50% of the road frontage owners signed the petition.

In August 2005, a different petition listing 5 roads (Watson, Mabel, Deal, Lackey, AND SKEGEMOG POINT ROAD south of M-72) was circulated only to Skegemog Point Road frontage owners.  Less than 50% of the frontage owners signed, not meeting the Public Improvement Act requirement that more than 50% of the frontage owners agree to the improvement.  Despite this fact, the southern portion of Skegemog Point Road was added to the list of roads to be paved, adding close to $300,000 to the cost of the project.  The signers of the 4-road petition never agreed to the paving of Skegemog Point Road.

Got kicks? Every Detroit student who shows up on the cash-crucial Student Count Day will be able to answer "yes" thanks to a donation from Bob's Classic Kicks in midtown.

BCK, 4717 Woodward, made an arrangement with the school district to give away a free pair of black leather Nikes to every student who comes to class on Oct. 3, the day when students are counted and their numbers used as the basis for per-pupil funding from the state and federal government.

The more bodies in class, the more money schools have all year.

Rest