The Bain Report: “Articles that Affect You and Your Family”

Richardville Voted to cut per pupil education funding
The Senate voted 20-13, to pass HB 4457 school aid budget bill for fiscal year 2010 K-12 education spending.
http://www.charterschools.org/index.php?option=com_content&task=view&id=803&Itemid=21


State leaders faced with tough budget decisions
LANSING — If you thought last year’s budget fight was bad, it may look like a love­fest compared to what’s ahead. The deficit in the budget year that starts Oct. 1 is nearly as large as the one Demo­cratic Gov. Jennifer Granholm and lawmak­ers were grappling with last year — $1.7 bil­lion versus $1.8 billion. And while Michigan was able to put $1.5 billion in federal recovery dollars into the current general and school aid funds, the amount next year could be as little as $395 million. In February 2009 the state Department of Education gave a $250,000 grant for the new Middle College being launched by the Monroe County Intermediate School District. This is fiscally irresponsible. Sarah Richardville the wife of State Sen. Randy Richardville (R., Monroe) was hired by the ISD board as dean of the new Middle College at a salary of $65,800 a year! Your TAX dollars at work!
http://www.freep.com/article/20100211/NEWS06/2110543/Michigan-budget-forces-Granholm–lawmakers-to-face-tough-decisions


Michigan Lawmakers vote to end the post-retirement health care insurance coverage provided to future legislators
Passed in the Senate (28 to 10) on February 24, 2010, to end the post-retirement health care insurance coverage provided to future legislators (those first elected after Nov. 1, 2010), but not for any current legislators. Under current law, former legislators who have been in office for five years get full health coverage beginning at age 55. I guess our good Senator Randy Richardville (R) Monroe didn’t deem it was in his constituents best interest as to offer an amendment to include current lawmakers in this Bill! Never the less, he voted in favor of it!
http://www.michiganvotes.org/RollCall.aspx?ID=465275


Senate OKs $9.5 million for Pure Michigan ads
LANSING — The state Senate approved $9.5 million for the acclaimed Pure Michigan television ad campaign Wednesday, but supporters said it’s not enough. The Pure Michigan campaign debate now moves to the House, where robust lobbying by the tourism industry is expected to boost the amount of state money for the ads.The allocation of our taxpayer money would be used better in the form of discretionary spending rather than for private industry who stand to gain the most not the taxpayers?
http://www.freep.com/article/20100304/NEWS06/3040461/1008/Senate-OKs-9.5-million-for-Pure-Michigan-ads?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+StatelineorgRss-TaxesBudget+(Stateline.org+RSS+-+Taxes+%26+Budget)


Senate Roll Call 72 Passed in the Senate on March 3, 2010
Authorize spending $9.5 million on tourism industry subsidies in the form of state ads paid for with tax dollars. The money would otherwise go into the state general fund and be available for other state spending. Previous tourism subsidies have been paid for with long term borrowing, pledging future tobacco lawsuit revenue to repay the debt.
http://www.michiganvotes.org/RollCall.aspx?ID=470164


Alice in Subsidy Land
This tumble-down the proverbial rabbit hole is the umpteenth “jobs” adventure Gov. Jennifer Granholm and the Michigan Legislature have forced taxpayers to accompany them on. Not only have Lansing politicians’ stories of promised job creation grown predictable and tiresome, so has the naked reality of a tourism industry trying to boost its bottom line by feeding at the public trough.
http://www.mackinac.org/12148


Workers’ promised raise safe for now
After debate, Senate vote fails to cancel it
LANSING — The Senate failed Wednesday to get the needed two-thirds vote to block a 3% pay raise in October for unionized state workers. The raise will cost the state, which must erase a $1.5-billion deficit next year, $48 million.
http://www.freep.com/article/20100304/NEWS06/3040449/1320/Workers-promised-raise-safe-for-now


Michigan looses Billions in Federal Education Funding for “Race to the Top” program
The list of finalists will bring disappointment to dozens of other states such as Michigan, many of which spent millions of dollars on private consultants to compete for the cash under the administration’s $4.35 billion Race to the Top program.
http://online.wsj.com/article/SB10001424052748704187204575101553383922336.html?mod=googlenews_wsj


White House policies: Homeland Security digging into all Internet communications, including the contents of emails.
The Obama administration lifted the veil Tuesday on a highly secretive set of policies Internet cyber-security. The White House’s new cyber-security chief, Howard Schmidt, announced the move to declassify the program in a speech at the RSA conference in San Francisco–his first major public address since assuming the post in January.
http://blogs.wsj.com/digits/2010/03/02/%e2%80%9ceinstein%e2%80%9d-program-disclosed-as-us-cyber-shield/


U.S. Senator Predicts financial meltdown
The US is heading for a debt-driven “financial meltdown” within five to seven years, according to Judd Gregg, the outgoing Republican senator for New Hampshire.
http://www.ft.com/cms/s/0/35a94fba-2278-11df-a93d-00144feab49a.html?nclick_check=1


Payrolls Declined in February
Feb. 28 (Bloomberg) — Companies in the U.S. probably cut more jobs in February and the unemployment rate increased, indicating the labor market in the world’s largest economy is still struggling to rebound, economists said before a government report this week.
http://www.businessweek.com/news/2010-02-28/payrolls-probably-declined-in-february-u-s-economy-preview.html


Commissioners OK a pay cut for next year
Oakland County commissioners unanimously voted themselves a 5% pay cut Wednesday night, but some of them won’t be around to see it. The 5% cut won’t begin until 2011 because commissioners aren’t allowed to change their rate of pay during their term of office. Since all 25 commission seats are up for election this year, the cut will begin Jan. 1 and last until at least the end of 2012. Several of the commissioners will relinquish their seats to run for higher office this year. Quite a contrast to the Monroe County Commissioners!
http://www.freep.com/article/20100304/news01/3040434/Regional-news-in-brief


Are Americans more dependent on the government?
One of the pernicious consequences of ever-larger government is the increasing dependence of the population on the government for their well-being and livelihood. To drive this point home, experts in The Heritage Foundation’s Center for Data Analysis set out to answer the question, “are Americans more dependent on their government?” Their answer: Yes. According to this study all of the evidence points to even more rapid increases in dependency ahead, which well could threaten democratic government.” This is particularly true because America faces the pending mass retirement of the Baby Boom generation, as well as an increase in the number of people who pay no taxes whatsoever.
http://members.myheritage.org/site/MessageViewer?dlv_id=18121&em_id=13801.0


Barack Obama and the Democrats did not inherit the bad economy; they caused it and made it worse

Are you fed up with out-ofcontrol government spending and taxation? Are you fed up with the
government providing bailouts, not securing the borders and not drilling for oil in our own
country, which would hold down energy prices? Many U.S. citizens who embrace the
American way have engaged in “tea parties” recently. That’s a good start, but it is not enough.
http://www.uscitizensassociation.com/pdfs/USCA_Ad.pdf


Dollar, Market Headed for Collapse
Financial author Jim Davidson says the dollar, the economy, and the stock market are headed for collapse. “Any time the government prints money, it’s a threat to the people who produce wealth in the society.” “The history of the world is that you don’t become rich by printing money. Otherwise Zimbabwe would be the richest country on earth.” Our debt burden will ultimately collapse due to hyperinflation.
http://www.sodahead.com/united-states/davidson-dollar-market-headed-for-collapse/blog-269373/


Four more U.S. banks shut down
WASHINGTON, March 6 (UPI) — Regulators say they shut down banks in Florida, Maryland, Illinois and Utah, raising to 26 the number of U.S. bank failures this year.
http://www.upi.com/Business_News/2010/03/06/Four-more-US-banks-shut-down/UPI-27441267895547/


Why the Fed’s Zero Interest Rate Policy May Be Dangerous
Is the Fed’s zero interest rate policy really good for the nation? Though Fed Chairman Bernanke has made it abundantly clear that he believes it is, the evidence that ZIRP is perniciously undermining the financial sector and the U.S. economy is increasingly persuasive. Perhaps rewarding savers and prudent lending is a better policy than enabling under-capitalized banks to gamble “free” ZIRP money on risky bets that end up being covered by U.S. taxpayers.
http://www.dailyfinance.com/story/why-the-feds-zero-interest-rate-policy-may-be-dangerous/19382480/


Another Rich Payday for Another GM Exec
GM announced on March 5 that it would pay Stephen J. Girsky, its new Vice Chairman for Corporate Strategy and Business Development, $5 million in compensation for this year. His base salary will be $500,000 and he will get $3,000,000 in stock.
http://www.dailyfinance.com/story/another-rich-payday-for-another-gm-exec/19386073/


House Passes $35 Billion Jobs Bill
Rep. Steve LaTourette, R-Ohio, said he asked businessmen at town meetings in his Rust Belt district whether they would hire people based on the payroll tax holiday. “Nobody raised their hands,” LaTourette said. “This is not going to create one job.”
http://www.dailyfinance.com/story/house-passes-35-billion-jobs-bill/19384236/

A furious health care push _ but what about jobs?
WASHINGTON — President Barack Obama’s furious, final push to get a health care bill passed threatens to shove aside the message he promised would top his list this year: creating jobs.
http://www.google.com/hostednews/ap/article/ALeqM5jKBwpZc8qy81o-B-_MyA00PMzlQQD9E99OE00

Government is not reason, it is not eloquence. It is force, and like fire, it is a dangerous servant and a fearful master. – George Washington

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  1. Week in review « Craig W. Wright

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