Federation of Connecticut Taxpayer Organizations

From: The Federation of Connecticut Taxpayer Organizations
Contact: Susan Kniep, President
Website: http://ctact.org/
Email: fctopresident@aol.com
Telephone: 860-841-8032

TAX TALK AUGUST 17, 2010

There's always room for pork, even in a state budget crisis �07/14/2010 CTMirror.com, ��new lights for the town swimming pool in Trumbull, air conditioning repairs for the Meriden Public Library, rehearsal space for the Hartford Symphony Orchestra, grease traps for two schools in Norwich - and a new park building with restrooms and a concession space in Gov. M. Jodi Rell's hometown of Brookfield. �These were among more than two dozen projects that would share more than $17 million in state financing released unanimously Tuesday by the State Bond Commission. �� But Susan Kniep, president of the Connecticut Federation of Taxpayer Associations, said Rell has other commitments she should have remembered, and it didn't involve helping legislators boost their re-election year profile with state-funded projects in select districts. "Forget about whatever deals she made with legislators, she owed a commitment to the taxpayers," said Kniep�.. Continued at �..

http://ctmirror.com/story/6773/theres-always-room-pork-even-state-budget-crisis

MEXICO UNDER SIEGE�..

Mexico�s Other Border: Immigration and Drugs Along the Mexico/Guatemala Border �Aug 16, 2010, Research Associate Andrew Eller�� It was a nice little town,� Maria explains as she sets the food on the table. Sitting down she continues, �a safe place to grow up.� Her eyes are full of memories as she drifts back to a previous time; she even draws a little map of the local f�tbol field and her old house on a napkin. The mood changes when she begins to talk about how the small Guatemalan town has changed since her childhood. Her sadness is palpable as we begin to eat and she describes a recent visit to her hometown, which is near to the border with Mexico. Now, she paints a picture of a place under siege by Mexican drug gangs and booming levels of crime and delinquency. http://www.coha.org/mexicos-other-border-immigration-and-drugs-along-the-mexicoguatemala-border/#more-10250

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PRI Begins its Ascent to Power as a Perplexed U.S. Looks for Formula to Bring Down Mexican Drug Syndicates by COHA Research Associate John L. Garcia� The Institutional Revolutionary Party (PRI) dominated Mexico�s politics with one-party rule for most of the 20th century, corrupting the country�s law enforcement and judiciary institutions. Today, President Felipe Calder�n of the ruling conservative National Action Party (PAN) is struggling to use the weakened institutions to combat Mexican Drug Trafficking Organizations (DTOs). The human cost of fighting these DTOs has caused many Mexicans to lose all faith in the PAN and prompted a wave of support for the PRI. In an effort to slow the PRI�s momentum before the 2012 presidential elections, the PAN formed an alliance with a leftist party, the Party of the Democratic Revolution (PRD). The PAN-PRD alliance won three gubernatorial races in the 2010 elections, but the PAN and PRD are not sure if they will be able to govern together. The PRI�s leading presidential candidate is Mexico State Governor Enrique Pe�a Nieto. If Pe�a Nieto is able to bring the PRI back to power, he will offer a strategy to eliminate DTOs that differs from that of Calder�n. The importance of assisting Mexico in the fight against its drug syndicates means that U.S. policymakers must be prepared for a PRI president in 2012 http://www.coha.org/pri-began-its-ascent-to-power-as-u-s-looks-for-formula-to-bring-down-mexican-drug-syndicates/

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Reforming Housing GSEs: A National Priority�� This week we are going to be treated to a "major" hearing on reform of the GSE's (Government Sponsored Enterprise)- Fannie and Freddie - and an overhaul of the housing finance system in the United States. In order to set the stage, we must look at what happened with these GSEs and why, and whether the current structure led to the crisis we are now in. The answer to the latter, on any sort of rational, objective basis, is "yes." In 2004 Fannie was accused of widespread and intentional accounting falsehoods by the government's OFHEO, their purported "regulator." In 2006 101 civil charges were filed against Fannie's CEO Franklin Raines, CFO Timothy Howard and the former controller Leanne Spencer. The three were accused of manipulating earning to maximize bonuses (ed: where have we heard that before - and since?) Continued at �. http://market-ticker.org/archives/2580-Reforming-Housing-GSEs-A-National-Priority.html

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Stagnant private sector, By Robert Higgs,� July 30, 2010 With the fall elections just three months away, President Obama recently summoned corporate leaders to the White House again to urge them to start hiring. The president doesn't seem to understand that his own policies have created pervasive uncertainty about the government's future actions, causing many private investors to steer clear of new commitments to long-term investment -- the kind that gives rise to additional private-sector jobs. Robert Higgs is senior fellow in political economy for The Independent Institute (independent.org), editor of The Independent Review.�� "Continued at �. http://www.pittsburghlive.com/x/pittsburghtrib/opinion/columnists/guests/s_692589.html

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Blagojevich's Defense Fund is Empty: Who Will Pay for His Trial? By Dawn Reiss / Chicago , Time Magazine, Saturday, Aug. 14, 2010 http://www.time.com/time/nation/article/0,8599,2010754,00.html

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Stock Market Likely To Stay Difficult For Some Time By JOYCE M. ROSENBERG | 08/15/10 03:19 PM |� http://www.huffingtonpost.com/2010/08/16/stock-market-likely-to-st_n_682941.html

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White House Under Fire for Unspent Infrastructure Cash,

Wall St. Journal, Aug 16, 2010, by LOUISE RADNOFSKY, The Obama administration has paid out less than a third of the nearly $230 billion allocated to big infrastructure projects in the economic-stimulus program. Now Republicans are zeroing in on the unspent stimulus money in fresh attacks on the administration's economic policy. "More people believe that Elvis Presley is alive than [that] the stimulus created jobs," U.S. Rep. Kevin McCarthy (R., Calif.), a member of the House Republican leadership, said Sunday on CNN's State of the Union. "And that's because what have they spent the money on?" They are suggesting that unspent stimulus money should be used to cut the deficit or pay for other initiatives, such as extending the Bush tax cuts. "I would roll back the stimulus," Mr. McCarthy said. "That's $260 billion." http://online.wsj.com/article/SB10001424052748704532204575397061414483040.html?mod=WSJ_WSJ_US_News_5

Tracking Stimulus Dollars

Graphic: Breaking Down the $862 Billion Stimulus

Chart: Full agency-by-agency breakdown of stimulus funds appropriated, available and paid out

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Obama pledges to defend Social Security, Privatizing the retirement system, as some Republicans want, would be reckless, he says on the 75th anniversary of the program.� August 14, 2010|By Richard Serrano, Los Angeles Times � On the 75th anniversary of the signing of the Social Security law, President Obama pledged Saturday to protect it from some Republicans who he said want to privatize the retirement account system and "place bets with Social Security on Wall Street." That, the president said in his weekly radio and Internet address, would be a reckless move as the nation's economy struggles to recover from a recession, noting that President Franklin D. Roosevelt signed the Social Security measure into law in the depths of the Depression.�� Continued at �.. http://articles.latimes.com/2010/aug/14/nation/la-na-obama-social-security-20100815

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What is The Real Rate of Unemployment in the United States?

Posted by Larry Doyle on August 13, 2010 8:06 AM | ShareThis

Just what is the true rate of unemployment in our country? Our headline U-3 rate is currently 9.5%. Our U-6 rate, more broadly defined, is 16.5%.

Many people are aware of the differences between U-3 and U-6; however, renowned economist John Williams takes our analysis to an entirely new level. Williams is far ahead of the curve in his work. William is likely not a regular on the Washington cocktail circuit. Why�s that? He goes far deeper in his work and exposes inconsistencies, if not worse, in government statistics. Let�s learn more about Williams and his work at Shadow Government Statistics:>>>> http://www.senseoncents.com/2010/08/what-is-the-real-rate-of-unemployment-in-the-united-states/

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Bank repossessions drive up July foreclosures By Lynn Adler

NEW YORK | Thu Aug 12, 2010 �(Reuters) - More Americans fell into foreclosure in July as a sour job market kept them from making payments, and banks took over homes at a near record pace. http://www.reuters.com/article/idUSTRE67B0D720100812

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US probes corruption in big pharma 08/12/2010 The US Department of Justice is scrutinising payments by leading pharmaceuticals companies for hospitality, consultants, licensing agreements and charitable donations in markets around the world as part of a wide-ranging corruption probe http://www.bullfax.com/?q=node-us-probes-corruption-big-pharma

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Tough Times Require Tough Decisions� 08/13/2010 � wilmerleon

After a nine month investigation into alleged ethics violations against Congresswoman Maxine Waters (D-CA) the House Ethics Committee has released its report. The Committee has found that the congresswoman improperly used her office to assist OneUnited, a Massachusetts-based bank in receiving $12 million in federal bailout funds in December 2008. http://www.politicsincolor.com/node/222

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The following articles can be found in Tax Talk August 16, 2010

� Money is God��

� Citizens for Change

� Constitution Ride Across America

� Trivial Pursuit

� Are the Bush Tax Cuts Paid For?�

� The stunning decline of Barack Obama: 10 key reasons why the Obama presidency is in meltdown

� Grim Voter Mood Turns Grimmer� - Pessimism Rises on Economy and War; Bad Reviews for Both Democrats and GOP

� The Bush Tax Cuts and Fiscal Responsibility

� Study Looks at Tax Cut Lapse for Rich��

� Economists Cut U.S. Growth Forecasts as Firms Limit Hiring

� New York Jumps Ahead of Feds With Law Holding Mortgage Companies Accountable on Mods

� Better infrastructure, more schooling trump subsidies in luring businesses, UMass prof�s study concludes

� Rell asks CSU to reduce raises for chancellor and top officials