January 4, 2012
From The Federation of Connecticut
Taxpayer Organizations, Inc.
Contact Susan Kniep, President
Website: http://ctact.org/
Email: fctopresident@aol.com
Telephone: 860-841-8032
Grim
figures released on high school graduation rates By Jacqueline Rabe Thomas CTMirror.org Two reports released Thursday
give disappointing figures in two key categories in Connecticut education: the
number of students dropping out of high school, and the number of high school
graduates who go on to college.And, the reports are
accurate -- unlike those released for years that were accused of being based on
"funny math." The State Department of
Education, using a more reliable accounting system than in the past, reported that 80 percent of students in public high schools are graduating on
time. For years, the department reported that figure at more than 90 percent
……… "States
across the nation, as well as Connecticut, were not
wanting to admit just how many students were dropping out. You cooked the books
to boost your rates," said Patrick Riccards,
executive director of ConnCAN, a New Haven-based
education reform group. Earlier this year, his group called the state out in a report for using "funny math" by reporting thousands of students
graduating who did not…………. when the Board of
Regents for High Education's P-20 Council went to verify if the students made
it to college, just 67 percent to 73 percent were found to be enrolled in
college after using more than just intent-to-enroll surveys, according to its report, also released Thursday.
Read the entire report at …… http://ctmirror.org/story/14927/expected-graduation-rates-drop-drastically
How the state responds to five challenges is key
Deep water ports like New
London's are being eyed for economic development
(Sean
D. Elliot/The Day)
Economists
explain how state can influence economy in 2012
Oil industry: 'Huge political consequences' if pipeline rejected
Andrew Restuccia 01/04/12
01:16 PM ET A top oil industry official delivered a clear warning to President Obama Wednesday: approve the Keystone XL pipeline or face
“huge political consequences.” American Petroleum Institute President Jack
Gerard urged Obama to quickly approve the pipeline,
which would carry oil sands crude from Alberta, Canada, to refineries along the
Gulf Coast.
A payroll tax cut package signed into law by Obama
last month includes a GOP-backed provision requiring the president to make a
final decision on the pipeline within 60 days.
Continued at ….. http://thehill.com/blogs/e2-wire/e2-wire/202359-oil-industry-keystone-rejection-will-have-huge-political-consequences-for-obama
Food aid probe shows scope of state's powers Stamford Advocate Brian Lockhart, Staff Writer Updated 10:15 p.m., Sunday, January 1,
2012 They might not have realized it,
but when around 24,000 households claimed eligibility for low income emergency
aid after Tropical Storm Irene they granted state officials extraordinary
powers to audit their finances for fraud….. Rumors soon began to circulate
the D-SNAP funds -- $700 per household on
average -- were being distributed to individuals of means who saw a chance to
game the system. DSS initially downplayed
fraud allegations. But in early December Malloy's administration announced it
was scrutinizing hundreds of state workers whose payroll records are
easily accessible. As of last week Malloy's office has forwarded the names
of 44 suspected state employees to their department heads for possible
disciplinary action. Meanwhile, some legislators have been publicly urging the
administration to start casting a wider net for cases involving the
private sector. On Tuesday, the administration confirmed to Hearst Connecticut Media Group it was expanding
the audit but was unclear how that could be done based on the limited
information D-SNAP applicants provided. Read complete article at ….. http://www.ctpost.com/news/article/Food-aid-probe-shows-scope-of-state-s-powers-2435723.php
HHS rejects looser insurance rules in two states By Sam Baker Jan 4, 2011 The Health and
Human Services Department on Wednesday denied two more states' requests to
soften new rules that govern insurers' spending. HHS denied Kansas's
and Oklahoma's
requests for adjustment to the healthcare law's medical loss ratio (MLR)
provisions. The law requires insurers selling policies to individuals to spend
80 percent of their premiums on medical costs, with the remaining 20 percent
for profit and administrative costs.
Continued at …. http://thehill.com/blogs/healthwatch/health-reform-implementation/202363-hhs-rejects-looser-insurance-rules-in-two-states
Bankruptcies to
double By Maureen Farrell @CNNMoneyMarkets January 4, 2012 …. Expect more
high-profile and midmarket companies to follow
American Airlines into bankruptcy court in 2012….. Expect the number and size
of corporate bankruptcies to double in 2012. At least that's what Fitch Ratings
is saying and experts seem to agree that more will be coming down the
pike……Restructuring doesn't necessarily mean bankruptcy but Fitch predicts
defaults among all corporate bonds will rise to roughly 3% this year, up from
1.4% in 2011 and 1.3% in 2010. Continued
at ….. http://money.cnn.com/2012/01/04/markets/bankruptcies_2012/index.htm?iid=HP_Highlight
Why Not “Occupy” Public
Sector Pension Funds? A CIV FI post back in January 2010 entitled “Axis of
Wall Street & Public Sector Unions” identified an irony still
lost on the occupy movement’s rank and file – Wall Street is financed by the
pension funds of unionized government workers. Every year, taxpayer funded
government agencies pour hundreds of billions of dollars into Wall Street
investment funds. Continued at ….. http://civfi.com/2011/11/21/why-not-occupy-public-sector-pension-funds/
Fed to Give Regular Interest Rate Updates (WASHINGTON) By AP / MARTIN CRUTSINGER Jan 3, 2011 — The Federal
Reserve will start updating the public four times a year on how long it plans
to keep short-term interest rates at record lows, according to minutes from its
December policy meeting. The first forecast will be included in the central
bank's economic projections after its Jan. 24-25 meeting, the minutes said. (See TIME's video: How the Federal
Reserve Works) Continued at ….. http://www.time.com/time/nation/article/0,8599,2103566,00.html
Ben Bernanke Offers A Game-Changing Recommendation For The
Housing Industry Turn foreclosed properties into rentals Simone Foxman | Jan. 4, 2012 A white
paper (via @carney) sent from Ben Bernanke to the chairs of the Senate and
House committees of banking and financial services and released today is not
just a subtle nudge at Congress to do something to address lingering weakness
in the housing industry. For the generally tight-lipped Federal Reserve, this
sounds a lot like a call to action. In
the release, the Fed suggests that the government find a way to convert a
significant segment of the stock of real estate owned properties (REOs)—essentially, properties held by banks or other
institutions after foreclosure—into rentals. While it refrains from making
specific policy recommendations, it emphasizes the importance of doing
something to help bear the burden of reviving the housing industry. Continued at ….. http://www.businessinsider.com/bernanke-to-congress-housing-foreclosures-2012-1
Bundling money for influence
still out of sight By Craig Holman and JoAnna
Suriani - 12/14/11 07:03 PM ET The Federal
Election Commission rarely fails to disappoint. The agency has proved
ineffective once again, this time in its neglect of reporting and disclosure of
“bundled” campaign contributions. Continued at ….. http://thehill.com/opinion/op-ed/199517-bundling-money-for-influence-still-out-of-sight-
Finch assailed over raise proposal
Keila Torres Ocasio, Connecticut Post Keila Torres Ocasio, Staff Writer
Wednesday, January 4, 2012 BRIDGEPORT -- Why can funds be
found for political appointee raises, but not for school books or to retain
laid-off union workers? That was the question repeated by nearly all
speakers Tuesday during a public hearing on Mayor Bill Finch's proposal to increase salary ranges
for political appointees and elected officials, some of whom make more than
$100,000. Continued at ….. http://www.ctpost.com/local/article/Finch-assailed-over-raise-proposal-2439790.php
Conn. school funding changes examined SUSAN HAIGH, Associated Press Tuesday, January 3, 2012 HARTFORD (AP) -- A panel created by Gov. Dannel P. Malloy is considering major changes to
Connecticut's largest grant program for public schools, such as using more
accurate data to determine a city or town's poverty level. The proposals are included in a draft list of
preliminary recommendations from the Education Cost Sharing Task Force obtained
Tuesday by The Associated Press. The panel is also looking at ways to fund
magnet schools more equitably. One proposal would exclude students living in
college dorms and prison inmates from population counts when calculating a
town's per capita income. The task force is also considering ways to more
accurately determine grant amounts. Continued at ….. http://www.ctpost.com/local/article/Conn-school-funding-changes-examined-2438985.php
$7.7 trillion to Wall
Street - Anything to keep the Banksters Happy!
By Thom Hartmann (about the
author) opednews.com Do you know who Elizabeth Duke is? How about Donald
Kohn or Kevin Warsh? No? Well - you
should. Because while Congress was debating back in 2008 whether or not to
bailout Banksters with a $700 billion blank check -
these guys and girls were just doing it. They were funneling $7.7 trillion
to Wall Street under the table - without one constituent phone call - without
worrying about one election - without having to give one explanation. They were
able to do that because they're members of the Federal Reserve Board of
Governors - a group of people who are not voted into office - but have the
power to completely dictate monetary policy in America. They are not
politicians - they're technocrats - they're bankers and financial experts. Technocrats
aren't interested in democracy - it takes too long and often the interests of
the majority of voters doesn't quite line up with the interests of the minority
of bankers and foreign investors. Or - to put it in today's terms - the
interests of the 99% rarely line up with the interests of the 1%. That's
why - back in 2008 - the Technocrats at the Fed weren't interested in waiting
for Congress - with all of its open debate and constituent services - to bail
out the banks - they just went ahead and did it themselves. According
to documents obtained by Bloomberg News - in 2009 - the Fed dished out $7.7
trillion in no-strings-attached, super low interest loans to Wall Street's
biggest players.
That's $7.7 trillion! Read complete
article at http://www.opednews.com/articles/7-7-trillion-to-Wall-Stre-by-Thom-Hartmann-111129-160.html
HHS gives states flexibility on health law's "essential
benefits"
By Kaiser Health News Dec 17, 2011 6:15am States will be given wide latitude to decide
what "essential benefits" insurers must offer in their health
policies come 2014, the Obama administration said
Friday in a move that pushes off final federal rules on the topic until an unspecified
date. Essential benefits, which must be
offered by insurers in most policies sold to individuals and small businesses,
are one of the key flash points in the federal health
law. Patient advocates have called for a broad national
standard covering a wide range of treatments, while business groups have said
affordability must be a top consideration, even if it means a more limited
package. The long-awaited guidance gives
states four choices for designing a benchmark
insurance package. Continued at …. http://www.ctmirror.org/node/14834