Recently, 60 members of the House of Representatives promoted a framework for budget reforms.
The group led by Representatives Scott Peters (D-CA) and Jodey Arrington (R-TX), released a letter to House leadership calling for future budget reforms to help address the rising national debt once the public health crisis has passed and the economy starts to recover.
The letter, signed by 30 Democrats and 30 Republicans, recommended several steps to be taken to address the critical debt issue.
The greatest threat to the prosperity of the next generation will be the national debt. It’s a small sign of hope that a bipartisan group of lawmakers is looking ahead to plan on what needs to be done.
Illinois Governor J.B. Pritzker has asked for a bailout from the federal government to help with the state’s debt and high spending, saying that the current pandemic has put them in a financial crisis. To be blunt, that’s simply not true. Continue reading “The Arrogance of Illinois Gov. Pritzker”
President Reagan once quipped that politicians and diapers needed to be changed often, and for the same reason.
The Alabama Legislature recently showed us why that’s true. Continue reading “Coronavirus Spending”
We have seen natural disasters, perhaps some of us have been affected by ones in the past. However, none of us have seen anything like the current pandemic. It has been more than 100 years since we have seen a health crisis in the world like this, or any other natural disaster.
Such a tragedy could not have been foreseen. And no one would argue that the government needs to help limit the devastation as much as possible, to individuals and businesses that provide jobs but have been shut down. And the Federal government passed laws to give over $2.5 trillion in help.
A key part of that funding is help targeting small businesses who would struggle to keep from going bankrupt. But we are finding that money isn’t always going where needed or intended. Continue reading “LA Lakers, Harvard University and Others Get Government Money–and Why That Should Be An Example”
The President of the St. Louis Federal Reserve says that the US unemployment rate could reach 30%.
That would be higher than the financial crisis, the dot com bubble or…even the Great Depression. The article below below summarizes comment made by James Bullard, a professional economist who heads the St. Louis Fed, in a recent interview. In it, he predicts a much worse economy than anyone has yet predicted.
Here is a sample of headlines from today’s newspapers:
–“Jobless Claims Top 17 Million in Past Month”
–“America’s Largest Bank Prepares for A Massive Round of Defaults”
–“Goldman: Downturn Will Be Four Times Worse Than Housing Crisis”
–“Next Wave of Layoffs Hit Staffers Working At Home As Sales Plunge”
–“Second Round of Layoffs Has Begun. No One Is Safe”
–“Mayo Clinic forced to cut $1.5 B in pay, as it projects $3 B in losses
–“Shutdown Could Kill More Americans Than Covid-19”
–“Government Mandated Shutdowns Are “Going to Kill Small Town America”
–“US GDP Projected to Fall 6% in 2020”
As we continue to battle this pandemic, we must soon start to ask the question about the balance between trying to protect against health impacts and economic devastation, which at some point becomes just as critical to people’s lives.
Now that Joe Biden has become the presumptive Democratic nominee for President, he is setting the stage for the general election. Normally, party nominees ‘move to center’ after getting the nomination in an attempt to appeal to independent voters who, in the case of Democrats are not as liberal as the party base of voters or, in the case of Republicans are not as conservative as the party base. This year, Biden’s political calculations appear different. Continue reading “Biden Takes a Hard Left”
The COVID-19 virus has almost brought the country to its knees. As the health crisis has turned into an economic crisis, it has shut down large parts of the economy.
The below article presents a scenario where we could begin to start getting people back to work now and slowly build toward recovery. By allowing people who have had the virus and recovered go back to their normal activities, we could potentially start moving forward from now. It’s worth the read and worth consideration.
Companies can not stay in business if their expenses exceed their revenue. Companies create jobs but to stay afloat, especially in unexpected times of crisis like we are going through, they may be forced to cut staff if they are closed. That is tragic, albeit understandable. But the world of professional sports has a situation that we all should keep in mind.
America’s love affair with sports has created a situation where owners and players make a lot of money. And Thinking Man can understand if people decide that they can’t do something that causes them to lose money. But in unusual times like these, it is heartwarming to hear of players and owners who are offering to pay salaries for laid off stadium workers, for example. Continue reading “Remember When Billionaires Come For New Stadiums”
The state of Oregon has a law that forbids self-service gas stations. The United Food and Commercial Workers Union has long worked against allowing self-service stations so that they could create job for their members.
Oregon Gov. Kate Brown issued an order that temporarily suspended that prohibition, allowing gas stations to be self-service and not requiring an attendant. It came amid reports that some pump attendants were ill and some feared coming to work at a job that puts them in contact with many members of the public each shift.
The Union opposed the temporary change.