Friday, January 31, 2014

The Governor Feels You Are Worth $55 And Or $110-I Guess Taxpayers Votes Are Worthless?

If you earn under $200,000. a year you are worth $55.  If you earn under $400,000 a year you are worth $110 a year.  That is what you are worth according to Governor Malloy in an effort to get you to vote for him again.  It is part of his economic fantasy plan to give back a few dollars to state taxpayers who were slammed with the largest tax increase in our state's history when he took office.  He wants to rebate taxpayers either $55 or $110 this year in an effort for you to vote him back into office (Why?).  In the past four years I believe all taxpayers have paid much more than either $55 or $110 in higher taxes.
What happened to the largest tax increase which was supposed to place Connecticut on the road to recovery.
What recovery?
What surplus?
Connecticut still has massive debt both short term and long term.  It will probably have at least a $1 billion dollar deficit fiscal year 2015.  It still has massive unfunded pension obligations and massive long term bond debt.  It is still is near last in most economic categories with non existent job growth,  high unemployment, one of the highest set of taxes in the country, little cash or budget solvency, and a horrific short and long term fiscal condition.
I guess the Governor's largest tax increase in our state's history has not done much in four years now.  Connecticut continues to be a vast economic wasteland under Hartford's Omnipotent One Party Rule largely in part to the economically irrational policies of Governor Malloy.
I hope voters and taxpayers see how little they are worth to Hartford's Omnipotent One Party Rule and Governor Malloy.
Higher taxes and Hartford's Omnipotent One Party Rule have not solved any economic problems in our state.
What an insult $55 and $110 is the citizens of our state.

Wednesday, January 29, 2014

The Tired State Of The Union

Our State of the Union is very tired.
Five years now of the same, more government will resolve all of our problems.
More laws, more taxes, more of the same.
If Mr. Obama does not get what he wants then he will use his executive order supposed powers-why bother with the United States Constitution now and why bother with Congress which has the legal power to pass laws?
Nothing was said new last night, just as a reminder to the President he has helped create great economic inequality in his five years as President.
Funny no mention of Obamacare and the nightmare it has created for many Americans.
Funny no mention of the NSA spying scandal.
Funny no mention of the IRS investigations of conservative groups.
Funny no mention of Benghazi.
Funny no mention of our out-of-control National Debt.
Our State of the Union is very tired.
Five years now of the same, more government will resolve all of our problems.
More laws, more taxes, more of the same.
More and more rhetoric with the never ending campaign to nowhere.
Three more long years of America's economic nightmare continuing unabated.  By a President totally ill equipped to lead our country.
I truly hope our country can survive.


Sunday, January 26, 2014

The Common Core One Million Dollar Ad Campaign Paid For By Connecticut Taxpayers

What is Common Core?  A mere $1 Million Dollars of Connecticut Taxpayers monies will soon be spent to find out.  Common Core is an educational program which ties adoption to "Race to the Top" Federal funding for education.  What are we racing to the top of?  No answers. 
Fortunately State Senator Joe Markley, who is the Republican State Senator from the 16th District is introducing a bill to block Connecticut from spending $1 Million Dollars of Connecticut Taxpayers monies to advertise the bill. 
We still really do not what the standards are of Common Core.  As a Adjunct College Professor for the past thirty-two years now I have seen a continual decline in student abilities and preparedness especially over the past ten years.   Students in many cases are completely unprepared for a college level course.  Public education in my economic opinion is a bureaucracy with little advancement going on in actually teaching our students.  Common Core standards set by Federal Educational Bureaucrats will do little to help this situation.  One can test students all of the state and federal state mandates they want to measure some hypothetical metric with still no results of the student actually understanding and learning a topic or subject.  It is more of the same of stifling actual learning for our students.
Why did the State Board of Education pass Common Core with no input from any educators, parents or our elected officials?  And why is $1 Million Dollars of Connecticut Taxpayers monies needed to advertise the bill?
Senator Markley's bill should be passed - today if possible.  What a waste of education in our society.

Friday, January 17, 2014

Oops more bad economic news for Hartford's Omnipotent One Party Rule

Oops more bad economic news for Hartford's Omnipotent One Party Rule, courtesy of a George Mason University working paper written by Sarah Arnett.  In an excellent analysis of all 50 states financial solvency Ms. Arnett uses precise formulas to present a real world view of all of the 50 states fiscal conditions.
Here is the link for the paper: http://newjersey.watchdog.org/files/2014/01/Arnett_StateFiscalCondition_v1.pdf

Here is the bad news for Connecticut:
From Table 5. Ranking of States by Cash Solvency (Fiscal Year 2012), Connecticut Ranks 48 out of 50 states in Cash Solvency.
From Table 6. Ranking of States by Budget Solvency (Fiscal Year 2012) Connecticut Ranks 41 out of 50 states in Budget Solvency.
From Table 7. Ranking of States by Long-Run Solvency (Fiscal Year 2012) Connecticut Ranks 48 out of 50 states in Long-Run Solvency.
From Table 8. Ranking of States by Service-Level Solvency (Fiscal Year 2012) Connecticut Ranks 45 out of 50 states in Service-Level Solvency.
From Table 9. Ranking of States by Fiscal Condition (Fiscal Year 2012) Connecticut Ranks 49 out of 50 states in overall Fiscal Condition

Thus these economic rankings should be pretty impressive given one of the highest tax increases in our states history, ranking near last in all of these fiscal categories.  It is truly an impressive economic record for Mr. Malloy and Hartford's Omnipotent One Party Rule to run on-overseeing an economic debacle of the greatest proportions.
Oops more bad economic news for Hartford's Omnipotent One Party Rule-but who cares especially when you are dealing the remaining hard working taxpayers monies in Connecticut.

Thursday, January 16, 2014

America's Never Ending National Debt

$17 trillion dollars and counting.  That is America's never ending National Debt.  And if taxpayers were to look at the new 1,582 page spending bill which increases spending by a mere $45 billion dollars they would see more of the same.  More wasteful spending, more entitlement programs and absolutely no plan to pay down the National Debt whatsoever.
It is more of the same.  $17 trillion dollars and counting.  No relief in sight.
Some uncomfortable economic facts about our National Debt is that China now owns over $1.3 trillion dollars of that debt.  Japan owns a mere $1.186 trillion dollars of the debt.  Why?  Has anyone in our Congress looked at the human rights violations in China lately?  Just curious.  Has anyone examined how China does business with our country or other countries lately?  Just curious.
Each citizen's share of the National Debt is over $54,000.  A family of four owes over $216,000.  Just curious as to when an actual National Debt tax assessment will be formulated by Congress?  Don't laugh it could happen.
I have come to an economic conclusion that our political system and those involved in it especially at a state and national level only concerns are their political egos, political power and economic gain they can take from our government and in turn from you and I the taxpayers who support this economic debacle.
The National Debt Game brought to you by our economically challenged elected officials.
$17 trillion dollars and counting.  That is America's never ending National Debt.
What is the plan to pay it back?



Tuesday, January 14, 2014

Connecticut's Inherent Corruption #4

I truly can not keep up with all of Connecticut's Inherent Corruptions that are currently going on for all taxpayers to view.
I truly can not even narrow down the donations, the loans and the forgiveness of all these different loans thanks to the hard working taxpayers of Connecticut.
Thus we are in full reelection mode for Mr. Malloy and Hartford's Omnipotent One Party Rule.  Give me a donation and we will give you a loan.  All perfectly legal and thanks to the hard working (what is remaining of) taxpayers of Connecticut.
Back to my original Connecticut's Inherent Corruption Swick Speak Blog of 1/4/14, there are now even more issues to the Earl O'Garro, Jr. whose Hybrid Insurance Group failed to pay insurance premiums totaling $670,000 for the City of Hartford policies that they carried with his company and owes the Department of Economic Development $376,000 plus of taxpayers monies.  He has apparently defaulted on those loans and may be in debt to the tune of $1 million dollars through various lawsuits, state records and other records according to a Hartford Courant report http://www.courant.com/community/hartford/hc-ogarro-second-court-order-0114-20140113,0,1639332.story
O'Garro, Jr. has now been charged with failing to pay wages to five of his employees and has been arrested for it by the State Police and released to appear in court on 1/23/14.   By the way he also owned a restaurant in Middletown.  What a mess, but hey isn't he politically connected and therefore should not be concerned with it?
I have a simple question for Mr. Malloy and Hartford's Omnipotent One Party Rule-when are Connecticut's hard working taxpayers going to get their $376,000 back?  What is the schedule and plan?  When is it going to be communicated to the hard working (what is remaining of) taxpayers of Connecticut?
I guess I will be waiting a long time for my answer.

Wednesday, January 08, 2014

Connecticut's Inherent Corruption #3

10 jobs per year per loan-for a total of $5,150, 000 spread among four loans.  $4,750,000 of these loans are deferred until 2017 and 2018.   Welcome to Connecticut's Department of Economic and Community Development's taxpayer-funded aid program.  Free taxpayers money with liberal repayment terms all for a mere 10  jobs a year being created supposedly.
Connecticut's Inherent Corruption #3 features Back9Network which is a fledgling Hartford-based cable golf network that's received more than $5 million in state grants and loans from Connecticut's taxpayers.   They owe the state a great deal of money.  They were supposed to start broadcasting January 1, 2014 and have not yet.  They are also being sued by one of the their former Vice President's for $80,000 which he has claimed he spent in his own money for the company and apparently was let go by the company.
But to me here the more fascinating part of this issue: The loans, one in 2012 for $750,000 and one in 2013 for $4 million, for which payments are deferred until 2017 and 2018 loans were made under the Connecticut's Department of Economic and Community Development's Manufacturers' Assistance Act program.
Here from the Department of Economic and Community Development website is what it means:
Economic and Manufacturing Assistance Act (MAA) – Incentive-driven direct loans for projects when there is a strong economic development potential
Eligible uses for MAA funds
Planning, including but not limited to: feasibility studies, engineering, appraisals, market studies and related activities
Acquisition of real property, machinery or equipment or any combination, provided such assistance does not exceed the fair market value
Construction of site and infrastructure improvements relating to a municipal or business development project
Construction/renovation/demolition of buildings
Relocation expenses for the purpose of assisting manufacturing or other economic-based businesses to locate, construct, renovate or acquire a facility
Working capital in conjunction with a business development project
Business support services such as labor training, day care, energy conservation, pollution control, recycling and the like, in conjunction with other state agency

I am unclear as an economist as to how these loans and funds apply to a Cable TV Golf Channel.  But again what do I know about economic development and free taxpayers monies.   I do not know how to play Connecticut's "Pay For Play"  Economic Game with Hartford's Omnipotent One Party Rule. 

Tuesday, January 07, 2014

Connecticut's Inherent Corruption #2

I was asked by several of my readers to continue to expand on my last blog regarding what many are calling "Pay for Play" or Connecticut's Inherent Corruption scandals.  There are many thus I plan on writing about as many as I can.  
Today I would like to feature another questionable donation to Hartford's Omnipotent One Party Rule - Connecticut's Democratic Party.  This time it is Affordable Housing-one could ask what is actually affordable in Connecticut with its high tax rate?
I feel these contributions again focus upon the "Pay for Play" mentality of our state government.  One must remember that anyone including state contractors can contribute to any state party's federal account-how this is legal or ethical is debatable in my economic opinion?   But it seems to me that this is the way to "Pay for Play" in Hartford.  Make a contribution then get a state contract-how this is saving taxpayer's monies is any ones guess, but when you are in power - you do whatever you want.
Bruce Whittaker, Jr. who owns the Millennium Group, also has a Division of his company, Millennium Real Estate Services LLC, that manages Sasco Creek Apartments which is owned by the Westport Housing Authority.  Mr. Whittaker gave $5000 to the Democrats on November 19, 2013-amazing enough on November 21, 2013, Millennium received a 4% loan from the Connecticut Housing Authority and $5.7 million in "gap funding" from the Department of Housing for Sasco Creek Apartments to redevelop it adding 54 more units to the current 33 mobile home units that are there.  The original 33 units were built in 1985.  Gap funding may be in the form of a grant and or loan.  From Connecticut's Department of Housing website - "DOH seeks to leverage non-State funds to catalyze the creation and/or preservation of affordable multifamily housing to promote healthy lives, strong communities and a robust economy."
Connecticut really has a robust economy?  According to who?  
Hartford's Omnipotent One Party Rule - Connecticut's Democratic Party?  "Pay for Play"  Yet another example.



owner of Millenium Real Estate, gave $5,000 on Nov. 19.
Two days later, Gov. Dannel Malloy announced Sasco Creek Apartments, owned by the Westport Housing Authority and managed by Millenium, would receive a 4 percent loan from the Connecticut Housing Finance Authority and $5.7 million in “gap funding” from the new Department of Housing.
Employees of Viking Construction gave $3,500 in November. Anthony Gaglio Jr., the company president, donated $10,000 in July and has made large donations to the Democratic Party in the past. In September 2012, he posed for a picture with Malloy in front of a sign highlighting the “cooperation” of the state in the construction of The Heights at Darien, a Viking project.
Matthew Anderson of Imagineers donated $2,500. The company administers Section 8 housing vouchers for some housing authorities.
- See more at: http://www.raisinghale.com/2014/01/03/affordable-housing-industry-adds-to-democratic-coffers/#sthash.fdA5erSk.dpuf

Saturday, January 04, 2014

Connecticut's Inherent Corruption

Apparently it has become legal for Connecticut to be corrupt.  One must give a contribution to the Democratic Party and thus one's business or individual person gets a state contract and or taxpayer funded position in our state.  Thus in my economic opinion Connecticut has become inherently corrupted.
Trying to gather information on this pay for play corrupted state government has become difficult.  The media avoids the subject since it must be lock and step to with Hartford's Omnipotent One Party Rule.  We get little if any answers from our taxpayer funded elected officials either.
The pay for play issue which should make all state taxpayers call their legislators is what the Department of Economic Development did with $376,000 plus of taxpayers monies.  That money was given to politically connected Earl O'Garro, Jr. whose Hybrid Insurance Group failed to pay insurance premiums totaling $670,000 for the City of Hartford policies that they carried with his company. The money was apparently wired to his company rather than the insurance carrier that holds the policy as is the norm.  His company back in 2012 was given a mere $126,000 of taxpayers monies in loans and grants to move from Windsor to a building in Hartford which was owned by Hartford's Treasurer Adam Cloud (who apparently authorized the wire payment to O'Garro's company not the carrier for the premiums), his brother and his father. 
What a political mess.  But not to worry as we see little news regarding what is being done to get this taxpayer money back.  I also feel sorry for the City of Hartford's taxpayers who just saw $670,000 of their money go out the window.
Thus we have Example #1 of Hartford's Omnipotent One Party Rule corruption and scandal.  Maybe Mr. Malloy could take time out of his busy fundraising schedule and address it.  And maybe taxpayers could get a better explanation of where their $376,000 went. 
Connecticut's Inherent Corruption-alive and well in this election year.