Representative Mushinsky = No Change As Usual

Representative Mushinsky of Wallingford represents no change as usual in her recent political appointment as Chairperson of the Program Review and Investigations Committee. I find her appointment ironic as she represents 28 years of her failed liberal agenda in the state legislature. Her most important vote being for the state income tax. Now she wants to look at tax credits for many industries. However, hasn't she been in office for 28 years and been part of many of these tax credits? She also wishes to look at many programs and view results based accounting for state programs. When has anyone in state government including herself been worried about results based anything? Her mantra has been tax and spend, tax and spend to the point that Connecticut is the second highest taxed state in the country and we are in one of the poorest preforming economies in the country with massive population drains. Yes all these problems are indirectly the result of her failed 28 year liberal agenda along with the failed agenda of Connecticut's Democratic party which has now pushed our state to the edge of no return. I still find it amazing that Wallingford voters were blind in seeing this and brought her back for yet another two years of failure.

The 100 Most Special Individuals In America Today-The United States Senate

There are 100 individuals in the United States today who are more elite, more important and more special than anyone else in our country. They are not individuals from the Armed Forces, nor from our Police or Fire Departments, nor from our Hospitals, nor from any Charitable organizations. They are the United States Senate. A group of 100 special, important, elitist, above any law people who help make laws in our country. These 100 people are in theory elected by voters. But more importantly they are appointed by Governors who have the ability to broker to the highest bidder their seats when a Senator goes on to an even more important office and must resign their position. And you may ask what is wrong with a lowly Governor appointing (through the appropriate lobbying, cash payouts and the like)their successor? I guess there is nothing wrong with the current situations taking place in both New York and Illinois. Of course the Obama camp had no knowledge of what was going in Illinois at all. And in New York the legacy of the Royal Family of America to be appointed to a vacant Senate seat is a right granted by the United States Constitution and should be adhered to.
What a mockery of our political process. What a debasing of the rules and laws that govern our country. What a disgrace. All this as we wait for Senator Chris Dodd, a major factor in the current economic credit crisis that he helped to create, for 196 days to tell us taxpayers about his sweetheart mortgage deal. The United States Senate needs reform if we as a nation are going to survive.

Connecticut's Fiscal Mess

Connecticut is in a fiscal mess. In a state that spends over $18 billion dollars a year we are in a fiscal mess. Actually it is not we but the Governor and elected officials who have increased spending by billions of dollars are in a fiscal mess. My family and many others are not in a fiscal mess because we have chosen to live within our means. We have decided not to take out jumbo mortgages which we can not afford (although we have not been given a sweetheart mortgage like Chris Dodd). We have chosen not to spend more than we earn and run up excessive credit card debt like others. We have decided to be thrifty and frugal in many areas of our personal lives. Connecticut's government and legislature decided to spend wildly above their means using the state income tax as their greatest source of ever increasing revenue and new and higher taxes on just about everything to get us in this fiscal mess. This has all happened since Connecticut's dark ages of the Weicker administration, where tax and spend were the mantra of political life.
Thus we as a state are in a fiscal mess. A fiscal mess which was produced by our elected officials. Not by taxpayers. Maybe governmental officials could do the right thing now and give up their taxpayer financed salaries and taxpayer funded campaigns for reelection to save money. Maybe just maybe they should pay for their continuing fiscal irresponsibility - hit them in their pocketbooks like we taxpayers of Connecticut have been hit. Our well is now dry - taxpayers have no more to give to this fiscal mess in Connecticut which was not our making.

Let's Sell All Congressional Seats!

Let's sell all Congressional seats. Better yet why don't we charge money to our current Senators and Representatives for keeping their seats. States could generate a great deal of revenue from this. For example here in Connecticut it would be a great way to help pay off the massive overspending by the Democratic state legislature over the years. Isn't it true that most of Congress are multi millionaires anyways? They can afford to pay the states they represent (or have moved to in order to obtain the seat)millions of dollars to retain their seat. What is the use of elections anyways? Incumbents can control their district or state for years with no amount of wrong doing ever forcing them from office. Look at Chris Dodd, he has helped to create the financial crisis our economy is experiencing and got a sweetheart mortgage deal on top of that. And why should he or any other member of Congress worry about any sense of ethics and or worry about any type of law that runs our nation. All 535 members should be and are above all that nonsense that we taxpayers must follow. Congress has become the ruling elite following no law, needing no ethics nor have any concerns other than their own self gain and financial reward. Maybe in 2009 taxpayers should break away from this tyranny like we did in 1776. Enough is enough.

Businesses Welcome To Illinois

Businesses welcome to Illinois. Now here is a state that you want to do business in. A warm, friendly economic environment greets you. Little governmental intervention unless you are the Governor or a Reverend. I am astounded at the Republic Windows and Door debacle that is currently taking place in Chicago. I am also astounded at the Governor's incredible economic plan to stop doing business with Bank of America as punishment (punishment for what?).
Thus as an economist, I must understand Economics 101 in a now liberal, nationalized economy.
Here is what used to occur. A company is doing poorly for a variety of reasons, possibly lower sales, increased competition, excessive federal, state and local governmental taxes and regulations, excessively high wages and benefits, higher inputs costs, etc. The bank that they are doing business with decides by analysis of their financials that they are a high credit risk, have no other assets/future sales to borrow against and pull their line of credit. No more money is available to this company to continue their operations. The company then must close its operations because it no longer has any money to pay its bills or its employees. All of its employees are laid off, the company then decides on bankruptcy and the private business cycle falls into place with firms leaving an industry due to a lack of profit.
In New World Liberal Economics, a company should have been making a profit so that local, state and federal governments could have taxed the profit at a 100% level to continue to finance their deficit spending and redistribution of wealth. The bank they are doing business with does not have to analyze any financials or sales, they just will continue to lend them money to infinity. The company even though it may be losing money and sales will continue to give massive pay and benefit increases to its employees. And finally bankruptcy is outlawed in our economy. We now have an Utopian economy where the business cycle no longer exists. I guess I need to reeducate myself on everything that I have learned about economics over 35 years. I never thought I would see this in my lifetime.
And I guess I will never open a business in Illinois and I guess many others will not either.

Congress and It's Lack of Knowledge About Our Economy

Congress really does not understand economics in any way shape or form. The Congressional hearings about the auto bailout truly astound me. Many of these same politicians who are belittling the auto industry executives had no problem supporting the fall 2007 strike by UAW against General Motors (Does Mr. Obama remember this by any chance?), they had no problem adding greater standards and regulations since the late 1990's, they had no problem driving vehicles which were not made by the Big 3. Nope none of this means anything to Congress. But to listen to Mr. Franks rant about their industry makes no sense to me whatsoever, his clueless remarks shows me and millions of other taxpayers how far removed he is and the rest of his Democratic party when it comes to the harm that Congress has burdened our economy with.
Congress has little if any real working knowledge about how our economy works and as such they continue to do more harm than good for our economy. The mortgage crisis, the credit crisis and the now the auto industry crisis can be traced to the United States Congress, an omnipotent, illogical charade that taxpayers must support.

Why The Economy Can Correct Itself - Without Government

Our economy can correct itself without chronic government bailouts. It can be done through a variety of means. I would like to look at two areas in particular. Fannie
Mae and Freddie Mac need to be sold off by the government and allow to operated by a private entity. This would take the harsh political nature of this company out of play and allow for the free markets to work in the mortgage market. What would happen is that if you can't afford a mortgage you would not get one. You would need 10% to 20% as a down payment and have actual verifiable income levels to support your mortgage. This would self correct the run up in housing prices and allow for housing to be affordable for those who work for a living and chose to live below their means. Second, the auto industry does not warrant a bailout. Because of its' poor management over the years, excessive salary and benefit structure, poor product, the non consumer friendly dealership buying environment, it deserves its fate. That would be a merger and or bankruptcy. It would not be the end of our economy if economies of scale and efficiency would be reintroduced to our domestic auto industry. Why do other auto manufacturers produce at a much lower hourly rate than the big three? Why do they produce more economically?
Our government frenzy of throwing $6.3 trillion dollars in bailout money at our economy will have long reaching effects on our national debt and our ability to borrow money. It is political, short sighted, and inefficient. And ultimately taxpayers will be paying for the political gains of our economically illiterate Congress.