Category Archives: Fiscal issues

The Debt Ceiling Debate….Simplified

Jun 15

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20120615-174128.jpg

Posted in Barack Obama, Budget, Deficit, Democrats, Economics, Fiscal issues, GOP, GOP 2012, Government Spending

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DNC Chair: We Have Turned This Economy Around!

Aug 4

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Wow.  Democratic National Committee Chairwoman Debbie Wasserman-Schultz actually has the audacity to be interviewed on national television and lie to the American people about the state of the national economy (nothing new though… I’m not sure Democrats know how to tell the truth, the whole truth and nothing but the truth?)

I’d like her to find me one person who honestly thinks that a near debt-default, highest government spending in history, growing unemployment, rising gas prices, etc. is the equivalent of “turning the economy around”…..

….Well, I suppose if you mean going from BAD to WORSE…. she might have an argument there.

Another Democrat fail.

Posted in Barack Obama, Democrats, DNC, Economics, Election 2012, Fiscal issues, GOP 2012, Government Spending, USA

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Economics 101: Capitalism vs. Socialism

Aug 4

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P3097029

A major source of objection to a free economy is precisely that group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.  – Milton Friedman

I recently came across one of the most succinct, yet profound explanations for why capitalism works.  In a recent blog post for Forbes, Dean Zarras explains why capitalism will prevail in a civil society over socialism.

Click here for the full article, it is very well done.

Idealistic Capitalism vs. Idealistic Socialism

The author makes an excellent case for why we should strive to be idealistic in our views and understandings of the free-market system.

[M]ost people would agree that if I break into my neighbor’s house and take a bunch of stuff, but with the intention of donating it all to the poor, it’s still stealing.  Somehow though, a lot people have a different interpretation of lobbying the government to raise the taxes of, or punitively-regulate, some particular group or economic sector.

After discussing the notion of the what would happen if we were to do away with layers of regulation and serve one another in the “greater good”, he concluded the following:

In the end, Idealistic Capitalism is predicated on the notion that although people can make mistakes, they are predisposed to doing the right thing.   The corollary notion is that a truly free market will punish those mistakes and as such moves society toward an ever-greater good.   Idealistic Socialism seems instead to assume that people in general will not do what is good for society, and therefore, a hopefully benevolent government must direct the activities of the people towards that greater good.

We live in a time and place where “Tax the Rich!” and “Pay their Fair Share” are common chants in the marketplace of ideas… however, we cannot allow the voices of the few to overpower the will of the majority.  We cannot sit back and let our rights decay and we lose our property as well as our ability to pursue happiness, which includes our right to make a living and retain our earnings.

When we explore a true free-market system, the market will correct any adverse actions by the likes of the Bernie Madoff’s of the world.  We can live without wind farm subsidies and all of the other examples of a socialist state that is working to undermine of the free-market system.

From now on, I will wear the badge of “Idealistic Capitalist” with honor.

Posted in Economics, Fiscal issues, Free Markets, Taxes, USA

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And the Sun Still Rises…Without Raising Taxes

Jul 15

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Minnesota State Capitol

Minnesota State Capitol

Despite the standoff between DFL and Republican lawmakers in the state of Minnesota, the longest state government shutdown in US history is drawing to a close.  Though not a “done deal” yet, the Republican legislative majorities accepted the concession offer by Governor Mark Dayton.  In a letter to Speaker Zellers and Majority Leader Koch, the  accepted offer is merely a tweaked version of the Republican’s offer dated June 30, mere hours before the state of Minnesota closed down.  

After watching a number of local news broadcasts about the shutdown resolution, the burning question was this: Why did the Governor shut down the state, cause unnecessary stress and pain to Minnesotans (especially those laid off state employees) and then accept (with minor tweaking) an offer that he had previously refused mere hours away from the shutdown deadline?  Consensus among DFL legislators tonight—- “We aren’t quite sure…. but I guess Dayton wanted to be the statesman and ‘end the suffering’ before it got worse.”
Read the rest of this entry →

Posted in Budget, Dayton Shutdown, DFL, Fiscal issues, GOP, Government Spending, Mark Dayton, Minnesota, Minnesota Politics, MN Budget, Taxes, Unions

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Hey, look! Wisconsin was right after all…

Jul 1

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The state capitol of Madison, Wisconsin

Wisconsin State Capitol, Madison, Wisconsin. Image via Wikipedia

A few months ago, the nation was spellbound by the drama unfolding in Wisconsin. Newly-elected Republican Governor Scott Walker had proposed, passed, and won legal challenges on a new law that would limit collective bargaining power for some public employees. There were weeks of protests, sit-ins, threats and Democrat lawmakers who escaped to Illinois.

And now… just a few months later, now that the law is in effect, many school districts are looking at their budgets–and realizing that they will be in better financial positions. Read the rest of this entry →

Posted in Collective Bargaining, Fiscal issues, Schools, Unions, Wisconsin

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In Mark Dayton’s Own Words: “No, I would not shut government down.”

In Mark Dayton’s Own Words: “No, I would not shut government down.”

Jul 1

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Lights out. As the clock struck midnight, the lights literally went out at the Minnesota State Capitol.

July 1, 2011 - MN State Capitol goes dark. Source: Princess Politics

July 1, 2011 will forevermore be known as the day Mark Dayton shut down the State of Minnesota. After months of negotiating and the delivery of multiple balanced budgets by the GOP-controlled majorities in the legislature, Governor Mark Dayton dug in his heels and refused to even pass a “Lights On” temporary funding budget so that they could have additional time to work out the details of closing Minnesota’s $5 Billion shortfall. Without what Mark Dayton called “increased revenue” (which is fancy speak for raising taxes and increased fees), he refused to agree to any of the budget offers that came to his desk.

But in typical liberal fashion, it was a “my way or the highway” approach. Even when the MNGOP legislators agreed to many of the governor’s funding requests, he still wasn’t happy. At midnight, the shutdown of state government services became official, even though rest stops and state parks had already been closing. But today, there are over 30,000 state employees that could not return to work. And nobody knows how long it will be before a deal is reached. Read the rest of this entry →

Posted in Budget, Dayton Shutdown, Deficit, DFL, Fiscal issues, GOP, Government Spending, Mark Dayton, Minnesota, Minnesota Politics, MN Budget, MSP, Republicans, Taxes

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A seemingly timeless cartoon

Jun 29

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Isn’t the old saying that history always finds a way of repeating itself?  This cartoon was featured in the Chicago Tribune in 1934.  It’s been 77 years, but nothing has really changed.  Enjoy the irony!

Source: Chicago Tribune (1934 cartoon)

Posted in Fiscal issues, Government Spending, USA

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A “Greece”-y Mess – Why the USA Should Care

Jun 29

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On the other side of the world, outside of our American bubble, Greece is in a mess. Facing soaring debt and likely default, the Greek parliament passed a bailout of sorts they call an Austerity Bill.   Greece’s debt as a percentage of GDP currently hovers around 144%.

On the brink of an economic meltdown, world markets have been closely watching what would transpire in the European country. Their solution? Major tax hikes and cuts to services… and Greece has been rioting over this.

How did this happen? Well, in large part…. an explosion of public sector jobs, pensions, and other social benefits since 1973.  Sound familiar?

Here in the United States, we are facing a critical decision making time as we reach our “debt ceiling”, the legal limit as to how much the government can borrow to pay its obligations. As it stands, the US is scheduled to reach the federal limit on spending as of August 2, 2011. Read the rest of this entry →

Posted in Budget, Deficit, Fiscal issues, GOP, Government Spending, Greece, Taxes, USA

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This is Mark Dayton’s Shutdown


U.S. Senator Mark Dayton of Minnesota.

Image via Wikipedia

Mark Dayton is Minnesota’s liberal Democrat-Farmer Labor Governor.

In an historic election, 2010 brought a tidal wave of Republicans into the Minnesota State Legislature. The Minnesota State House of Representatives and the Minnesota State Senate both have new GOP Majorities, which were formerly DFL majorities for multiple election cycles. But on the flip side, the 2010 Gubernatorial race ended in a recount that the GOP lost by less than 9,000 votes, giving us one of the most Liberal governors in state history.

Dayton is currently holding the State of Minnesota hostage while we await a government shutdown on July 1 if a budget agreement is not reached.  The governor and the GOP-controlled legislature are at an impasse as to how to close a $2 BILLION dollar gap. Dayton’s answer: Tax the Rich. GOP’s answer: Make tough cuts and live within our means.

Note to GOP legislators: NO MORE COMPROMISES. If there are any fee or tax increases, it is a fact that there will be primary challenges. We have to live within our means.

Governor Dayton’s actions are reminiscent of a child in a toy store who is begging and screaming for a shiny new toy. The state of Minnesota is not his toy box. It’s time that we stand up to a trust fund baby who obviously has no concept of what a budget really means, since he has doubtfully never had to live by one.

Below is a fantastic visual timeline from the Minnesota Senate Republican Caucus of the budget negotiations thusfar. Minnesota is mere hours from shutting down, but Dayton is digging in his heels and will not give in without a tax increase.  THIS IS MARK DAYTON‘S SHUTDOWN.

 

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