September 15, 2012
From: The Federation of
Connecticut Taxpayer Organizations
Contact: Susan Kniep,
President
Website: http://ctact.org/
Email: fctopresident@aol.com
Telephone: 860-841-8032
Report: US positioning forces in response
to Middle East unrest
Wisconsin state judge
strikes down collective bargaining law | Reuters By Brendan O'Brien MILWAUKEE | Fri Sep 14, 2012 9:22pm EDT (Reuters) - Wisconsin's controversial law
that limited the rights of public sector unions and sparked recall elections
was struck down on Friday by a Wisconsin judge.
Republican Governor Scott Walker, who survived a recall election earlier
this year that stemmed from passage of the collective bargaining law, said
after the ruling that he was confident the state would ultimately prevail in an
appeal. "Sadly a liberal activist
judge in Dane County
wants to go backwards and take away the lawmaking responsibilities of the
legislature and the governor," Walker
said in a statement. The ruling on
Friday by Dane County
Circuit Court Judge Juan Colas stems from a challenge by unions representing Madison school teachers and Milwaukee city employees. It was unclear what
immediate impact his ruling would have.
Colas ruled that eliminating collective bargaining rights for municipal employees including teachers violated the workers' right to
free speech, association and equal protection.
He also ruled that the law's requirement that Milwaukee city workers make pension contributions
violated a home-rule provision in the state constitution. Continued reading this article at http://www.reuters.com/article/2012/09/15/us-usa-wisconsin-labor-idUSBRE88D1OB20120915
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State of Connecticut CMT and CAP Test Scores for 2012
- How Does Your Town Compare?
Click the following web link: http://www.ctact.org\upload\home\BOB2012CMT.xls
Contact fctopresident@aol.com or ryoung0@snet.net with any questions.
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Special Report:
Well-to-do get mortgage help from Uncle Sam By Jason Lange Fri Sep 14, 2012 4:10pm EDT (Reuters)
- Silicon Valley, the birthplace of the
microprocessor, the personal computer and the iPhone,
is a model of private enterprise at work. But not when it comes to getting a
mortgage. In Santa Clara County, the center of the global tech industry and one
of the wealthiest places in the United States, most home buyers get help from
the government, an analysis of government lending data shows. The same is true
in other wealthy enclaves such as Nassau
County, outside New
York, and Arlington County, outside Washington, the analysis of more than 50
million loans finds. It is no secret that the U.S. government propped up the housing
market after the financial crisis. What the analysis by Reuters makes clear is
the extent to which government programs have helped some of the nation's most
well-to-do communities. Continued at http://www.reuters.com/article/2012/09/14/us-fanfred-lending-idUSBRE88C0CY20120914
Ethics Agency Destroys Public Records Of
State Officials' Financial Interests Updated: 40 minutes ago
Administrator
Says 'I Followed The Statute' In Shredding Files; Critic Says 'It Sounds A
Little Bit Like The Soviet Union' By JON
LENDER, jlender@courant.com The Hartford Courant
3:56 p.m. EDT, September 15, 2012 The Office of State Ethics has quietly
destroyed a quarter-century's worth of public records concerning the finances
of present and former public officials, drawing a protest from the head of an
open-government group who says the thousands of shredded files were an
irreplaceable resource. "It's
surprising that anyone would think that it's OK to just 'deep-six' them
forever, if those are records ... of public officials' financial dealings"
filed under their "obligations of disclosure," said J. Herbert Smith,
president of the Connecticut
Council on Freedom of Information. "You'd need to keep those, just for the
sake of history," Smith said. "Let's not forget that we can store
electronic data ... forever." He noted
that paper records can be scanned into electronic form. Also, many of the
financial statements now are filed electronically to begin with. "So why
get rid of them?" Read complete
article at http://www.courant.com/news/politics/hc-ethics-records-destroyed-0915-20120915,0,4654089.story
Clock ticking on $2
billion hit to Navy shipbuilding By
KELLY CATALFAMO Special to the Day Publication: The Day 09/15/2012 12:00 AM
Washington - Navy shipbuilding and conversion funding would be cut by $2.14
billion in 2013 under so-called "sequestration," according to a
nearly 400-page report released Friday afternoon by the White House Office of
Management and Budget. Sequestration refers to the $1.2 trillion in automatic,
across-the-board spending cuts over a 10-year period that were mandated by the
2011 legislative deal to raise the federal debt ceiling. Friday's report,
released by the White House a week late, was a response to a bill passed by
Congress last month seeking more details on where these cuts would come from.
For 2013, the report projects cuts of nearly $55 billion each from both defense
and nondefense spending. This amounts to a reduction
of roughly 9.4 percent in most defense programs, and 8.2 percent in
non-defense. The report contains line-by-line detail on the impact of
sequestration on more than 1,200 budget accounts. Whether these cuts could
impact Electric Boat in Groton
remains to be seen. But while the report did not provide details about how
specific programs would be affected, it did list $1.8 billion in projected cuts
to Navy research, development, test, and evaluation funding. Continued at ….. http://www.theday.com/article/20120915/NWS01/309159961/1017
Teacher deal could
lead to property tax hikes, school closings, layoffs Chicago Sun-Times BY FRAN SPIELMAN City Hall
Reporter fspielman@suntimes.com September 14,
2012 10:58PM Updated: September 15, 2012
12:08AM Four years of up-to-the-limit
property tax increases for Chicago homeowners and businesses. Closing scores of under-enrolled and underperforming schools.
Thousands of layoffs of teachers and other school staff.
More cuts to the central office. That’s what could await the Chicago Public
Schools, thanks to the tentative agreement between teachers and the district
that is expected to put an end to the five-day teachers strike. Civic Federation President Laurence Msall
said the 16 percent pay raise included in the tentative agreement will almost
certainly trigger massive layoffs and scores of school closings. Every 1 percent pay raise carries a $20
million price tag. That means the cost of the
raises could be as high as $320 million over four years — although it could be
less after retirements and cost-saving provisions of the agreement are factored
in. Continued at …. http://www.suntimes.com/news/education/15149998-418/teacher-deal-could-lead-to-property-tax-hikes-school-closings-layoffs.html
Rahm Emanuel: Rahmbo
at the School Barricades Wall Street Journal - 21 hours ago
Chicago mayor and Obama confidant Rahm
Emanuel explains his cool approach to the city's teachers strike.By
DAVID FEITH September 14, 2012, 7:18 p.m. Rahm Emanuel is his generation's most noted political
pugilist, the guy who once mailed a dead fish to a fellow Democratic operative
whose work had disappointed him.
Continued at …. http://online.wsj.com/article/SB10000872396390443524904577651533203955546.html
Feel Good Movie Angers Union Boss By Larry Sand On September 4, 2012 · Showing how painful the truth can
be, AFT boss Randi Weingarten goes bonkers over a new
film in which a teachers union is presented fairly. Won’t Back
Down, a movie due to open nationally
on September 28th, centers around two determined
mothers, one a bartender and the other a teacher, who team up and [...]
Continue Reading →
From the State of Connecticut’s Office of Legislative
Research: FOUR COMMISSIONER'S NETWORK
SCHOOL TURNAROUND PLANS a summary of the four school turnaround plans
recently approved by the State Board of Education (SBE) to improve student
achievement as part of the Commissioner's Network of Schools. OVERVIEW The 2012
Education Reform Act (PA 12 -116) created a program called the Commissioner's
Network of Schools, which requires schools with low-performing students to
craft turnaround plans aimed at improving student achievement. By July 1, 2014,
the education commissioner must select at least 25 of the state's
lowest-performing schools to participate in the program. Under the law, each
school forms a committee to craft a plan. The committees must include
representatives of parents, teachers, the respective school districts, and
SDE. Four schools, Curiale
Elementary in Bridgeport, High School in the
Community in New Haven, Milner Elementary in Hartford, and Stanton
Elementary in Norwich,
volunteered to participate in the network starting in the 2012-13 school year.
All four rank in the lowest 10% of state schools for academic performance. They
submitted turnaround plans, which the SBE approved at its August 9, 2012
meeting. The four plans have many similarities. They all propose: Continue
reading at ….. http://www.cga.ct.gov/2012/rpt/2012-R-0388.htm
Compare the Mill Rate in Your Town With Other Towns
Lawmakers question
practice of using long-term funds to provide short-term cash By Keith M. Phaneuf on September
13, 2012 State government continues to
occasionally use money reserved for capital projects to cover operating bills,
and then returns the funds later -- a practice several critics acknowledged
Wednesday isn't illegal. Neither, they conceded, is it costly. In fact, it
effectively allows the state to borrow funds more cheaply than it could if
officials sought a commercial loan. But as it begins to happen more and more
frequently, is it masking bigger problems with state finances? Members of the
legislature's Finance, Revenue and Bonding Committee probed that issue
Wednesday with Gov. Dannel P.
Malloy's budget director and a top
official from state Treasurer Denise L. Nappier's office. "It's
not sending a great message to the market place," said Sen. L. Scott Frantz, R-Greenwich, who said he fears Wall Street credit rating agencies
likely would downgrade Connecticut's bond rating -- boosting interest costs on
future borrowing -- if the practice continues. Why? Because it reflects a
dangerous policy of procrastinating on finding real solutions to fiscal problems,
Frantz said. "This is of great concern to all of us." That cash pool has been the source of
controversy at the Capitol since January. That
pool mingles tax revenues, federal grants and receipts from fees and licenses
with borrowed funds. project accounts at four
different times this calendar year to help cover bills. Continued reading this article at http://www.ctmirror.org/story/17462/lawmakers-probe-ongoing-cash-flow-problems
Money-Laundering
Inquiry Is Said to Aim at US Banks By JESSICA
SILVER-GREENBERG and BEN PROTESS September 14,
2012 New York Times Federal and state
authorities are investigating a handful of major American banks for failing to
monitor cash transactions in and out of their branches, a lapse that may have
enabled drug dealers and terrorists to launder tainted money, according to
officials who spoke on the condition of anonymity. These officials say they are
beginning one of the most aggressive crackdowns on money-laundering in decades,
intended to send a signal to the nation’s biggest banks that weak compliance is
unacceptable. Regulators, led by the Office of the
Comptroller of the Currency, are
close to taking action against JPMorgan
Chase for insufficient safeguards,
the officials said. The agency is also scrutinizing several other Wall Street
giants, including Bank of
America. Continued at ….. http://www.nytimes.com/2012/09/15/business/money-laundering-inquiry-said-to-target-us-banks.html?pagewanted=all&_moc.semityn.www
OP-ED | Malloy’s Gift
Gap Threatens China Trade Efforts by Heath W. Fahle | Sep 14, 2012
3:39pm Gov. Dan Malloy spent the week in China working to build new economic
ties between Connecticut and the world’s most populous nation. The success of
the mission, however, could be jeopardized by an unlikely threat: The “gift
gap” emerging between Gov. Malloy and other American governors. The Hartford
Courant article accompanying Mr.
Malloy’s sendoff noted the critical cultural importance of gifts to
relationship-building in the Far East. Continued
at …. http://www.ctnewsjunkie.com/ctnj.php/archives/entry/malloys_gift_gap_threatens_china_trade_efforts/
Is Municipal Bankruptcy a Gateway to
Financial Sustainability? (Elena Farah / Houston Chronicle) Elena Farah Senior Fellow, Government Financial Sustainability
Initiatives Hobby
Center for Public Policy
Warren Buffet’s liquidation of his bullish position on municipal debt last
month was widely interpreted as possible trouble ahead for local and state
government finances. In a recent report, Moody’s Investors Service also
signaled to investors its concerns regarding the potentially deteriorating
credit quality of bonded debt of many California
cities.[1] On the heels of a
recent high profile bankruptcy filing by the City of Stockton,
CA, Moody’s communicated its view that bankruptcy may
increasingly become a policy tool for cash-stripped municipalities in California burdened by
unsustainable legacy pension contracts at a time of economic uncertainty amidst
a still sluggish regional real estate market. Continued at …… http://blog.chron.com/insidepolicy/2012/09/is-municipal-bankruptcy-a-gateway-to-financial-sustainability/
Moody's warns United
States of rating cut as fiscal cliff looms ... Moody’s Investors Service said it may join Standard &
Poor’s in downgrading the U.S.’s credit rating unless Congress reduces the
percentage of debt-to-GDP during budget negotiations next year.The
U.S. economy will probably tip into recession next year if lawmakers and
President Barack Obama
can’t break an impasse over the federal budget and if the George W. Bush-era
tax cuts expire in what’s become known as the “fiscal cliff,” according to a
report by the nonpartisan Congressional Budget Office published on Aug. 22. The
rating would likely be cut to Aa1 from Aaa
if an agreement isn’t reached, Moody’s said in a statement. Article is continued at ….. http://business.financialpost.com/2012/09/11/moodys-warns-united-states-of-rating-cut-as-fiscal-cliff-looms/
Bernanke's Stimulus
Fuels Market Rally, Inflation Concerns Forbes This is a guest post by
Craig Birk, director of portfolio management at Personal
Capital. Capital markets spent the
first half of the week calmly waiting for two things; a German court ruling on
the constitutional ability to fund the ESM bailout fund, and the Fed meeting
announcement. In both cases, equity investors got what they wanted. Germany was
cleared to be the largest provider for the ESM and Bernanke
yet again exceeded expectations for additional stimulus. The Fed committed to buying
$40 billion of mortgage backed securities per month for an indefinite period of
time. Stocks rallied. The unprecedented actions by the Fed also
fueled inflation concerns, causing Treasuries to fall and gold to spike. Continued at ….. http://www.forbes.com/sites/billharris/2012/09/14/bernankes-stimulus-fuels-market-rally-inflation-concerns/
GOP, Dems trade blame
on spending, then pass six-month - The Hill By Pete Kasperowicz - 09/13/12 06:24 PM ET House Republicans and Democrats spent
an hour blaming each other for Congress's failure to complete its work on 2013
spending bills this year, then held their noses and passed a giant, six-month
continuing resolution that will keep the government running until late March.
Members easily approved the spending resolution early Thursday evening in a
329-91 vote that saw 70 Republicans vote against it, along with 21 Democrats.
Dozens of Republicans were expected to vote against it as a reflection of their
complaint that it does not cut enough spending. But others were thought to
oppose the bill because it would allow taxpayer dollars to be sent to Egypt and
Libya, which some saw as objectionable in light of this week's attacks on U.S.
diplomatic posts in those countries. Just before the vote, Rep. Dan Burton (R-Ind.) indicated his disappointment that money would flow to
these countries. The resolution puts the government on a pace to spend $1.047
trillion in discretionary spending in 2013, the same level agreed to in last
year's Budget Control Act (BCA). Over the summer, the GOP House approved seven
appropriations bills for 2013, many of which spent less than what was allowed
under the BCA. Continued at ….. http://thehill.com/blogs/floor-action/house/249441-gop-dems-trade-blame-on-spending-then-pass-six-month-cr
Cutting Government, Blindfolded Published: September 14, 2012 New York Times Editorial Mitt
Romney has been rousing military-minded voters with warnings of giant defense
cuts in January, but he’s only telling half the story. An alarming White House
report issued Friday shows that the full impact of next year’s ham-handed
budget cuts would affect virtually every government function, not just the
Pentagon. From the Secret Service to food inspection to air traffic control, a
broad range of programs would be cut by at least 7.6 percent, whether they are
essential or frivolous. A few categories are exempt, including Medicare and
Medicaid beneficiaries, Social Security, veterans
affairs and military personnel. Everything else would be run through a
Procrustean band saw, a mindless way to govern. These cuts, known as the
sequester, were the result of the debt-limit crisis created by House
Republicans last year, when they threatened to throw the government into
default if the deficit were not reduced. President Obama
and the Democrats tried to respond with a balanced package of spending
reductions and tax increases on the rich. But when Republicans refused the
deal, the two sides agreed on a different incentive: $100 billion a year in
indiscriminate cuts to programs that each side holds dear. Continue reading
article at ….. http://www.nytimes.com/2012/09/15/opinion/cutting-government-blindfolded.html
Flood Threat To
Nuclear Plants Covered Up By Regulators, NRC Whistleblower Claims Huffington Post - by Tom Zeller Jr.
- 21 hours ago In a letter submitted Friday afternoon to internal investigators at the
Nuclear
Regulatory Commission, a
whistleblower engineer within the agency accused regulators of deliberately
covering up information relating to the vulnerability of U.S. nuclear power
facilities that sit downstream from large dams and reservoirs. The letter also accuses the agency of failing
to act to correct these vulnerabilities despite being aware of the risks for
years. Continue reading article at
http://www.huffingtonpost.com/2012/09/14/flood-threat-nuclear-plants-nrc_n_1885598.html
US, UK sign tax
agreement By Bernie Becker Sept 14, 2012 The United States and the United Kingdom have
signed an information-sharing agreement, as the federal government continues to
up its efforts to target tax cheats using foreign accounts. The
agreement between the two allies is the first the United States has signed in
its efforts to implement the Foreign Account Tax Compliance Act (FATCA), a 2010
law that mandates that offshore banks disclose information on Americans’
accounts or face a withholding fee. Continued at ….. http://thehill.com/blogs/on-the-money/domestic-taxes/249621-us-uk-sign-tax-agreement-
House approves 'No
More Solyndras Act' Pete Kasperowicz and
Ben Geman - 09/14/12 12:23 PM ET The Hill The House
passed legislation Friday afternoon that would curtail a Department of Energy
(DOE) loan guarantee program that backed a $535 million federal loan to Solyndra, the now-bankrupt solar-panel maker. Members approved the No More Solyndras Act, H.R. 6213, in a 245-161 vote. Republicans
have held the failed green-energy company as proof that the Obama
administration has funneled billions of dollars to undeserving
firms. Passage sends the bill to a
Senate that is expected to ignore it completely. While the two parties have had heated debate
over the Solyndra failure for the last year, 22
Democrats broke ranks and voted for the bill, along with all but four
Republicans. Continued at ….. http://thehill.com/blogs/e2-wire/e2-wire/249555-house-passes-no-more-solyndras-act
Sequester would cut
$11 billion from Medicare By Sam
Baker - 09/14/12 04:39 PM ET The Hill Sequestration would cut $11 billion from
Medicare and take millions of dollars away from Affordable Care Act
implementation programs. The Obama administration
released its highly anticipated report Friday on the effects of sequestration —
a blunt-force budget-cutting tool that Congress created when it raised the
country's debt ceiling. The sequester would make deep
cuts to defense spending as well as domestic programs. Medicare payments to doctors,
hospitals and other healthcare providers would take an across-the-board 2
percent cut. That would come out to roughly $11 billion, according to the
administration's report. Continued at http://thehill.com/blogs/healthwatch/medicare/249629-sequester-would-cut-11-billion-from-medicare
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