Grand Rapids’ Chief Financial Officer, Scott Buhrer, updated the city’s Fiscal Outlook through 2014 on February 12. You can read the report here. My first reaction was, “Finally, somone at City Hall gets it!” I will quote extensively from his comments and bold the comments that I believe are important to note. This financial...
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Finally, Someone at City Hall Gets It
Michigan Unemployment Insurance Fund is Bankrupt
A little-discussed news item is that, as the Great Recession drags on, states are getting crushed under piles of borrowing to continue to pay unemployment benefits. As states run out of money, they begin to borrow from the Federal Government. Why is this issue important? Because the state will eventually have to repay this...
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“Stimulus” FAIL
Just keep this chart in mind when they come back, in the near future, for debtslaveryus stimulus 2.0. Remember – the politicians are lying to you.
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Local Housing Market Still in the Tank
I found an interesting chart, courtesy of city-data.com, showing the median home price in Grand Rapids, as well as the number of homes sold on a quarterly basis. Clearly things are bad and getting worse. Median home prices have dropped almost in half since 2004. Incredible! Oh, and remember our post about how the...
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Wanda Sykes on the Bailouts
Change we can believe in? Last night’s press conference by President Obama was hardly a departure from the typical George Bush-style fear-mongering. You can sum his speech up like this: “Pass the stimulus, or else the universe will collapse!!! Gravity will fail! The sun will implode! Think of the CHILDREN!!” Sometimes the best way...
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Why the “Stimulus” Won’t Do a Damn Thing
This post will show how the proposed $825 billion “stimulus” package will do absolutely nothing to help the economy and will only serve to make the existing economic problems worse. “But wait! How could that be?” you ask yourself. All the politicians and talking heads on TV are saying that it will boost the...
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What Happens When You Take Away the Corn?
There’s an old parable about getting hooked on government handouts. I had heard this years ago, but it just popped in my mind again today. I searched the Internet and found one version of it. A chemistry professor at a large college had some exchange students in the class. One day while the class...
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Pigs Feeding at the Trough of Government Largesse
It was only a matter of time. Now that the Congress and US Treasury have decided that it is legitimate for the Federal Government to spend $700 billion “bailing out” various banks and financial companies, the line is getting longer of those holding their hands out for free money from heaven. First, we were...
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