Island in the Financial Stream

On the Path Toward First Finance Job

2010-08-27T18:51:00.002-05:00

Today (08/27/2010) I attended the Employment Services Orientation at Inspiration Corporation and got an overview of the program as well as completing the intake process. Employment Services are provided under The Employment Project which assists clients in learning skills that will allow the student to obtain and maintain gainful employment.

The first step during the orientation is completing the intake interview. This interview provides staff with information about the client so that each individual recieves the correct services. In my case that is employment skills training and also career training so that I can obtain my first position in the field of finance. I also commit to my workshop time for the training cycle. I will attend the Employment Prepartion Training workshop in the afternoon so I can maintain my morning hours at The Heartland Institute.

The four week workshop will help me learn and evaluate how I see the world, communication skills, apply it to employment, and practice interviewing. Clients are only allowed to miss two days and after the third they must make it up the next training cycle before the graduate. Arriving 30 minutes late or leaving 30-plus minutes early counts as an absence. Arrive before the workshop begins or you are late. The rules teach clients to treat the workshhop like a job.

After graduating from the workshop I will discuss my career and educational goals with a Career Services Adviser. This person can assist me in obtaing the WIA grant to get the training I need to get the job I would like to have.

My Goals are the following:

My educational goal is to earn a joint MBA/MPA or MS

Enroll in and complete marthematics courses up to pre calculus and twenty-four hours in accounting at a community college.
Research schools
Enroll in GMAT preparation course and attend free events
Take GMAT
Choose target schools based on GMAT scores
Apply to schools
Schedule interviews

My career goal is to be employed as a regulator in the U.S. Department of the Treasury. My second choice is to work for the FDIC in Chicago.

Obtain first position in financial field or as a lab assistant at a community college.
Apply for Federal Career Internship Program
Write Federal resume

Attend all scheduled workshops, take notes, complete homework, and engage in the group process.

Earning Credentials

2010-08-17T10:28:00.000-05:00

On 9 August, I attended a WIA meeting at Microtrain Technologies, Inc. to discuss how to recieve the grant and what curriculum I would be taking once I was determined eligible for the grant. I first need to be determined eligible by an office that is able to offer the grant and then I take that information back to Microtrain. I then sign a letter of intent and start training. My program will provide me with MOS Master certification plus four elective courses from the catalog. The electives are in programs such as SharePoint, VIsio, FrontPage, Illustrator, Dreamweaver, Photoshop, and InDesign. Electives are chosen according to the trainee's career aspirations.

On 4 August I attended the Open house Admissions Event for the IIT Stuart School of Business and learned about their MS Finance degree program. This program is excellent with enough concentrations to choose from that a student can even recieve a broad education in the case of electives. I am specifically interested in Financial Theory, Financial Markets, and Investment Management. I also spoke with the director of the Public Administration program. I need to complete a little more research and preparation before I enter this program. I will attend the Open House event on 20 October as well after getting an answer as to weather I can earn an MSF and an MPA together even though it is not one of the joint degree options specifically named on the dual degree list.

I will examine taking some math courses at Harold Washington College or Truman College before entering the IIT program so I can at least understand concepts taught in calculus and Business Math. Likely couses are Business 141 Business Mathematics and Mathematics 204 Calculus for Business and Social Sciences (HWC) or Business 0141 Business Mathematics, Mathematics 0143 Pre-Calculus, and Mathematics 0204 Caluculus for Business and Social Sciences (Truman). It is also possible that I will earn an Advanced Certificate in Accounting.

Top Issues this Summer

2010-06-03T20:33:00.000-05:00

There are several important issues on the domestic and foreign fronts this summer. Domestically, the big issues are the jobs and economy, BP oil spill, immigration, financial reform, and the debt. International issues topping the list are Israel, Iraq, and Afghanistan.

Jobs and economy is number one because it is effected by all the other issues that follow. However, independently there are too many people that are long-term unemployed and we have no issue with discussing cutting or letting expire unemployment benefits and other programs that assist these people in surviving. These jobs have been lost after other issues created problems. The first stimulus did create or save some jobs. We, however, need to do more to support small businesses which create most of the jobs.

The downturn began bcasue of the burst of the housing bubble which was fueled by many government and non-government actions. The overarching action that created the environment for all that followed was the encouragement for all to own a home which accelerated under George W Bush's Ownership Society platform. This created the environment for the Federal Reserve to keep the interest rates too low for two long. The historically low interest and other pressures preceded creation of various designer loan products and lending to borrowers that it should have been clear if an actual income analysis had been complete would not have qualified for the loan. It should not have surprised anyone that under these conditions many people would default on their mortgages and that eventually this condition could potentially leak into the prime mortgages. It is impossible to approve a No Doc or NINJA mortgage and not expect that there would be a default when income, assets, and liabilities were not examined in the approval process or underwriting were ignored.

The issue that has yet to explode is the commercial real estate bubble. This bubble was also created by the low interest rates and the rush to build to many malls that are now empty because no business can afford to pay the rent. This saturation and pricing leads to less jobs for even unemployed individuals to claim.
There is also the issue that some long-term unemployed or underemployed individuals will stay in this status because employers have begun using credit checks to approve or deny job applicants., sometimes after two or three interviews. However, it is impossible to improve your credit score without a job that allows you to pay the bills and eliminate open collection accounts.

The BP oil spill is number two on my list because it is and economic, jobs, health, and environmental disaster. On the economic score it destroys tourism and seafood industries in the Gulf region. This leads to loss of employment or just a lack of available jobs because people are not coming to the beaches, the shrimpers can not cast their nets, and other seafood industry workers or those who depend on the industry, such as restaurants can not expect the money that usually flows from tourists. The final economic impact is the amount of money BP, which promised to pay all legitimate claims in full, will be required to pay, as they should.
The health impact of the spill will is already being felt because the volunteer workers that are assisting in the cleanup are already becoming ill because of the dispersants being utilized in the cleanup. These sicknesses will burden the health care system in the area and will subtract from productive economic activity because some of these individuals could potentially, although not likely, become disabled. Even if they are not disable and unable to work treating their illnesses could cost us much.

The full environmental impact of the spill is still yet to be determined. we know that to this point the oil has appeared on Dolphin Island off the coast of Alabama, where brownish-red oil and tar balls were collected yesterday. Florida is concerned that the oil slick will reach their shores completely destroying their tourism industry. Adding to this problem is that hurricane season began on 31 May. This adds to the trick of cleaning up and completing the relief procedure, which is supposed to continue into August. People on the East coast are concerned that a turn of the jet stream could bring the oil slick around Florida and up the coast, causing a wider disaster than containing it in the Gulf and thus making the problems associated more expensive and difficult to clean up.

The next issue is illegal immigration which is always a hot button issue, but even more so when the economy is in recession and jobs are not plentiful. One side argues that illegal immigrants take jobs from American citizens; while the other counters that they do jobs Americans will not take. In most cases it is simply that an American can not afford to take a job for less than a given amount of money, while the illegal can afford to because they, for example, will live together in groups in a house. There are other reasons that are apparent that enforcement is not forthcoming. Republicans tolerate, in good times, this flow of people to allow businesses less expensive labor. Democrats, on the other hand see this group of people as potential supporters and unions want more potential members.

The lack of enforcement has instigated the State of Arizona to enact a law that would require local law enforcement to enforce immigration laws. However, the law enforcement can only ask for the individuals papers if they have committed a civil wrong or criminal act. This law has blown the debate wide open. Republicans are quickly supporting the law and Democrats are quickly questioning and criticizing the law. The Arizona law enforcement community is divided between supporters and opponents of the law. The opponents are concerned that local law enforcement enforcing this law will drain resources and drive a wedge between the police and the community; through making crimes more difficult to solve.

The response from the national leaders should not be this division over weather the Arizona law is the right or wrong thing to have done. This action by Arizona should encourage the people and their leaders to debate proper reform of the immigration system including enforcement. There should be a Comprehensive Immigration Reform package enacted weather it be as one piece of legislation or a series of legislative initiatives.

The base for this package needs to be enforcement of current laws and more agents on the border and while we train the new agents the National Guard should assist in patrolling the border. There should also be technological methods to assist the agents and soldiers. This idea entails carefully thinking through the balance of human and technological enforcement strategies and determining the number of borer agents that we can realistically place on a 2,000 mile border. This includes discussing the funding for training, enforcement, and human and technological resources.

Secondly, we need to examine the role of state and local governments in relation to interior enforcement of the immigration law. This involves looking at the burden placed on the corrections system by illegal immigrants that commit crimes. The two programs in question here are 287g and the State Criminal Alien Assistance Program (SCAAP). In the case of 287g, designated law enforcement officers would be trained to perform immigration related law enforcement functions according to a memorandum of understanding signed by the State and the Department of Homeland Security. The SCAAP program guarantees payment from the federal government for Criminal aliens that are sitting in state correctional facilities. Funding is required for training and repayments to states.

A third issue is verification of citizenship status for employment, benefits administration purposes. The E-Verify system could be used to achieve this end. Employers should be required to check a job applicants work/citizenship status before a job is made and should also be required to check the status of workers already employed on the effective date of the law. The citizenship/work status check should be a part of the standard pre-employment screening. The entire screening would include citizenship/work status verification, background check, credit check, and drug test. If after completing the citizenship/work status check the employer finds that a potential or current employee is illegal and they continue employing that person or the hiring process they will be required to pay fines and repay any tax credits allowed for the particular worker. The worker who finds out they are illegal also has libility for a fine for breaking the law. The penalty for a company who is caught employing illegals will be to pay ten percent of its gross income for the year plus returning any tax benefits gained for the illegal new hires. For example, a company makes $1 million in a year. If that company after verification of status continues employing an individual they know to be illegal and continue with the hiring process for two others (individual a qualifies for the $2,400 Work Opportunity Tax Credit and individual two qualified for the $9,000 credit for hiring a long-tern TANF recipient. In this legal structure the total fine would be $111,400.

In the case above, one of the individuals was a TANF recipient for 18 months. The state that grants these benefits to illegals should have to repay the portion of the matching grant that they allowed to be received by the individual. This is occurring at a time when they routinely turn down verified American citizens. The individual received $5,600 in benefits during the 18 months that they were not employed. This occurred because the state administrator did not verify or chose to ignore the verification of the person's status as illegal which had to be verified for the employment placement component of the program. In this case the taxpayers of the state are on the hook for $2,800 in benefits to the illegal immigrant. The state must pay the matching $2,800 back to the Federal government. The individual's fine will be $5,600 for the immigration violation. The state administrator who allowed the benefits would be fired from their position and would owe a personal fine and serve jail time.

State schools and community colleges will use this tool as a determining factor in which tuition rate to offer the child of an illegal immigrant. In the first year they must charge the out of state rate. This means that the state school must either require the student or student's family to pay the difference between in state and out of state tuition or can apply to the federal government to pay the difference.

In the case of the individuals they must pay a fine, return to their country and register with the consulate, and learn English. They must pass all background checks given to potential citizens. This means they will not be violent criminals, white collar criminals, a drain on our system. They must go to the end of the line which means if the waiting list is 2 years long they are the last entry and it will take two years to go through the initial phase.

Then there is financial reform, which is being debated in the congress. There need to be some prudent changes, including more consumer protection and resolution authority, to the financial regulatory structure. I understand that we want the reforms yesterday and before the election and I have said in the past that this issue should have been tackled last year. we can pass legislation creating a Consumer Financial Protection Agency, OTC derivatives, and resolution authority. we also need to do something about the credit rating agencies. However, any other tweaking needs to be completed after the Financial Crisis Inquiry Commission completes its work and we carefully examine the final report.

Some of the changes can take place from within absent new regulation. Banks and lenders can decide to implement stricter underwriting standards fro loans and not originate No Doc or NINJA loans. Bankers and lenders need to fully understand the financial position of the potential borrower and recommend the proper product or refuse to send the application if there is not a demonstration that borrower may default. This stands for commercial loans also. There needs to be collateral and sufficient resources to repay the loan. Cash flow based-lending should not occur except where there is a demonstration that there is consistently enough cash flow to cover the loan or enough in reserves to make payments during hard times. Credit rating agencies could do as Moody's has done and complete an internal analysis and implement changes.

The concern over the national debt needs to be dealt with as soon as possible and bridges the two sets of issues: domestic and international. Domestically, we need to be willing to honestly discuss all budget items. There can be no sacred cows: not defense and not entitlements. Cut programs that are not needed or do not provide enough of a benefit to continue. Discuss prudent reforms and enforcement for entitlement programs. Eliminate duplication and waste, fraud and abuse. Learn to discuss the true costs of military operations and foreign aid. This would also be a fine time to carefully examine and reform the budgetary process.

Turning to international issues, Israel poses the most challenge to our foreign policy initiatives. There needs to be an open and honest civil discussion regarding how to best deal with Israel. They do have a right to exist and to self-defense, but that does not necessarily include boarding a humanitarian ship and inciting violence. Israel realizes they created a public relations nightmare and the importance of Turkey being critical can not be understated. We need to condemn the act of blockading those who have humanitarian intent. The flotilla people did not allegedly take up arms until they felt threatened. There has got to be a better way to deal with this issue that we caused by wanting to spread democracy. The people of the Palestinian territory elected Hamas in that election and as a result we decided not to recognize the government. The reason people affiliated with Hamas received enough support to get elected was because they were providing food while Western powers sat back and allowed Israel to carry out the blockade.

The other large international issue which are also budgetary concerns are Iraq and Afghanistan. These two military operations are draining money form other area of the economy. It is fair to also criticize the utility of continuing the operations, but we also can not just pull out all at once. We need a plan for exit from these contingencies and then think about how much money we need to repay. I dare suggest that the government is responsible for keeping watch for external threats and should start building up the proper forces when they first see a threat as well as preparing the American people and international community for the possibility of war so all have a chance to act accordingly to prevent the situation from escalating and then we know there is absolutely no other way and are ready we go to war. This action needs to be supported by the American people.

Treasury: TARP has generated at least $16B in profit so far

2009-12-24T19:46:00.000-06:00

With Citigroup and Wells Fargo repaying a total of $45 billion in funds they received through the Troubled Asset Relief Program, the total amount repaid to the program now stands at $164 billion, according to the Treasury Department. By the end of 2010, total repayments should exceed $175 billion, the Treasury estimated. "Taxpayers have already received over $16 billion in profits from all TARP programs and that profit could be considerably higher as the Treasury sells additional warrants in the weeks ahead," the department said in a statement. MarketWatch (12/23) , Reuters (12/24) , The Wall Street Journal (12/24)

Wall Street Must Change and the Debt Must Come Down

2009-11-01T22:48:00.000-06:00

In a pre-taped exclusive interview with David Gregory for Meet the Press Treasury Secretary Timothy Geithner said two things must happen: Wall Street must change and the debt must come down. He also said that the growth that occurred was a positive sign but the recovery would take a while.

The indicators of a budding recovery were that GDP growth was at 3.5% for the third quarter and that job losses had slowed. The reason the growth will remain sluggish is because other indicators released were lower than previous months.

Mr. Geithner repeated his admonition (AFP) that the debt was too high and must come down. The debt would be addressed as the economy continues to grow and policies would be decided as conditions dictated. The other important statement was that Wall Street must change. The regulatory proposal caused Wall Street to balk.

Three Cheers for the Obama Economic Team before Advancing to the Next Battle

2009-08-10T16:16:00.000-05:00

We entered a severe economic downturn or “Great Recession”last September and have been losing higher numbers of jobs consistently, until recently, when the recent economic data has started to look better. While we are still losing far too many jobs the numbers are not increasing by as much or looking as bad as they once did. The stock market has had another streak of gains for the past four weeks.

When they entered office the Obama economic team, Treasury Secretary, Tim Geithner in particular weathered harsh criticisms from both the right and the left. They also resisted both the right-wing group that wanted to “let the banks fail” and the left-wing group that wanted to “nationalize the banks.” As a result of ignoring both of these groups they have proposed a balanced plan for regulatory reform.

However, there seem to still be rocky shoals ahead on the regulatory reform front. Today , according to The Washington Post, Sen. Mark Warner announced through an op-ed in the Financial Times that he cannot support the Treasury Department proposal because it does not actually create a strong single regulator. While the Treasury’s proposal simply merges the Office of the Comptroller of the Currency and the Office of Thrift Supervision to create the National Bank Supervisor. The “Nationalize the Banks” crowd will flock to Sen. Warner’s proposal because it appears tougher then the Treasury proposal, however, one large agency can cause as many issues.

School Choice Makes Strides in Louisiana

2009-07-02T18:27:00.000-05:00

Jillian Melchior
New measures introduced by Louisiana policymakers make the forecast for more school choice positive, thanks to a $10 million initiative included in Gov. Bobby Jindal's (R) 2008-2009 budget.
The bill to carry out Jindal's initiative, HB 1347, introduced April 22 by state Rep. Austin Badon (D-New Orleans), would distribute scholarships through the Louisiana Department of Education and Board of Education to New Orleans students attending nonpublic schools.
"We must also provide educational scholarships to parents in Orleans Parish who often have no choice for their children other than the local failing school," Jindal said in his March 2008 Regular Session Opening Speech to the state legislature. "These scholarships follow a very simple and pure American principle--that every child has an equal right to good opportunities and a good education."

Helping Families
If the bill passes, the Student Scholarships for Educational Excellence program will give parents 90 percent of the money a public school would have spent on their child, or the full cost of the student's education in the nonpublic school, whichever is less.
The program would use the $10 million already allocated for school choice in the governor's budget, not taking away any money from the public school district, Badon explained, and it would be available to New Orleans students in kindergarten through third grade.
The bill's advocates say the state could end up saving money if the bill passes before the legislative session ends in June.
"It's the right thing to do because it gives parents the choice of how to educate their kids," Badon said. "Each day, each month that goes by that we don't do something, we're all at fault."

Growing Pains
Over the past three years, several efforts to expand school choice have arisen in the state, including Jindal's budget initiative and HB 1347. The state established a competitive system of charter schools in New Orleans--and last year two school voucher bills were debated in the legislature, though neither passed, state Rep. Steve Scalise (R-Jefferson) noted.
"New Orleans is a model for the country right now in how to redesign a completely failed school system," Scalise said. "A lot of states could learn from the reforms we've made since [Hurricane] Katrina."
The changes have not come easily. In June 2007, the House Education Committee killed a voucher bill, and a month later Jindal's predecessor, Gov. Kathleen Blanco (D), vetoed a bill that would have given private school parents a $5,000 tax deduction.

Changing Attitudes
The bills that did not pass, however, opened the door for the ones currently on the table, observers say. Since last summer, Louisiana residents have elected a new governor and several new state legislators, many of whom support school choice, explained Gene Mills, executive director of the Louisiana Family Forum. These politicians' efforts and arguments have done much to change public opinion about school choice and education reform, he said.
"This governor is seen as the clean-up guy," Mills said. "There is no doubt that new leadership has established itself as formidable and for change. He believes in empowering parents. When the system fails, it interferes with the parents' prerogative. People who before have said, 'I'd never vote for a voucher bill,' are willing to consider it now because this governor's made so much sense."
Scalise said he and other legislators who care about school choice will do everything they can, including lobbying other legislators, to get the scholarship bill passed. That, he said, could lead to greater acceptance of future school choice initiatives.
"Many students [would] finally get access to schools that will give them a solid education where they were being let down by a failed public education," Scalise said.

Saving Money
Badon said the scholarships might help the state avoid having to implement other costly programs in the future.
"We give vouchers for everything else," Badon said. "Why can't we give a voucher for this? I call it a scholarship. Maybe if we gave out educational scholarships, we wouldn't have to give scholarships for other things."
Badon said a good education could get Louisiana residents "off the road" of depending on state money.
For more information ...
Louisiana HB 1347: http://www.legis.state.la.us/billdata/streamdocument.asp?did=481124
This article was published in the July edition of School Reform News, a Publication of The Heartland Institute.

Treasury Reports CPP dividend for First Quarter

2009-04-18T01:27:00.000-05:00

According to Reuters the U.S. Treasury is reporting that investments made through the Capital Purchase Program have earned $2.52 billion in dividends. This program seeks to assist in strengthening the financial sector. Secretary Geithner said, in a letter to lawmakers, that he would publish dividend data on a monthly basis so the people could evaluate the results of the program.

Treasury Releases Letters to Congress

2009-04-18T00:38:00.000-05:00

Secretary Geithner today released the two letters he sent to congress regarding transparency and communications.
Read them here:
Letters: part 1, part 2

Banks Complain About 5 Percent Interest Rate

2009-04-17T02:59:00.000-05:00

According to Scrath Pad bank CEO’s are protesting the requirement that they pay a 5 percent interest rate on their TARP funds. They must have though they could borrow th emoney for free becasue it was lent through the Treasury. The Bankers Association should know better. If they want banks to have zero percent loan maybe they should also advocate for students who currently pay 6 percent or 8.5 percent on a PLUS loan on their debt for the current academic year to also pay zero percent on their academic loans. They are claiming that the 5 percent amounts to an exit fee because it was predicated on the thought that banks would need money for years.

They suddenly want to get out of a legal binding contract, and none of us could get out of our loan contracts just because we did nto like it. They are complaining about changes in the rules being retroactive. Well, so how it feels when something changes retroactively and applies to everything.

Plans, Staffing and Calls for Resignation

2009-04-12T08:38:00.000-05:00

The American people are getting impatient and are frustrated abouot the state of the economy. The target of their frustration is Treasury Secretary Timothy F. Geithner. According to the New York Times Secretary Geithner has yet to produce a plan to deal with systemic risk. This charge is untrue becauause his plan for controlling systemic risk is posted at FinancialStability.gov where anyone in the media or general public can access and evaluate it.

Some of the extra challenges that Mr. Geithner faces are do to not having a full staff at Treasury. He is, according to The New York Times, working with a "skeleton crew" of unofficial senior advisors. This is the case even though Mr. Obama has nominated people for three senior positions the Senate Finance Committee has not held hearings on any of them.

A group of people from across the aisle including Sen. Jim DeMint have called on Mr. Geithner to resign. However, Mr. Obama says he will not accept the Treasury Secretary's resignation should he tender it. This is a good thing because the most importnat thing at this time tis to get the Treasury Department properly staffed.

Christian Citizenship

2009-03-22T15:47:00.000-05:00

This past year has been spent humbling myself in prayer asking the Lord this question: What does it mean to be a Christian Citizen in a secular country such as the United States? How do I live your will and be a light to others while allowing them their liberty of conscience? How do I best help people to understand that a pro-life position is more than just an anti-abortion position, but one that honors all life the pre-born as well as the life that is already born?

I have yet to receive complete answers to all of these questions. However, the Lord has given me one simple rule that is to choose leaders that will enact and support laws which while honoring the secular nature of the country would represent Godly ways. For example, one question I had early on was weather since the bible calls on individuals to care for the needy and also says in Romans 13 that the only “the only authority is established by God” and that the ruler is “God’s servant.” The answer to the question is not clear, however, it became clearer after I thought about it more and come up with the principle that we must care for the needy. However, I still struggle with a concern about weather civil disobedience is acceptable to God. If you are supposed to as Romans 13 commands to obey the authority then how can one participate in civil disobedience while still obeying God? This is not an easy question because we have had great leaders like Martian Luther King, Jr. who led civil disobedience during the Civil Rights Movement. I suppose he should be a guide as to that question.

What God expected of me became clearer upon close study of Romans 13 and humble prayer how I was to carry out my responsibility as a Christian Citizen. This means submission to family (including marriage) (Ephesians 5:22 – 6:3), church leadership (Eph. 5:21, 1 Cor. 16:16, 1 Pe 5:5), and civil government (Romans 13:1-8) while remembering that disobedience is called for when I am asked to disobey God’s law to follow civil law (Acts 4:19-20).

It is easy to see how this applies in the private sphere (home and Church), however, it is still and always will be a struggle to apply in the public (government/political sphere). This means, at minimum, supporting laws and regulations that support life, marriage, and family while attempting to change those that don’t meet the standards of the Lord. The challenge here is not showing any disrespect for other human beings which we are called to love.

The greatest responsibility of any citizen, but particularly the government is to preserve and protect innocent life. The unalienable right to life is granted in the Declaration of Independence and the bible, as well as by many criminal laws that punish those who murder or kill. However, this means more than being simply against abortion and vowing to appoint justices who over turn Roe v Wade, it also means that all living and pre-born must have access to health care so that they can be healthy. It means access to a quality education, affordable housing, and a safe community in which to live, learn, and worship. An important part of this is creating economic policies (including trade) that reduce/eliminate debts and deficits and encourages investments in human potential.

Supporting marriage and family in the public sphere is more than simply defining marriage as between a man and a woman, but that is a good start. Then we need to move on from there and create a family friendly environment with policies on all issues which allow the family to be the primary place where children are reared. This also means keeping government out of ecclesial affairs. The First Amendment was meant to keep government out of the garden and not the people of the garden out of government.

In conclusion, at this point, being a Christian Citizen means sincerely obeying authority and institutions created by God as well as those that are not created or sanctioned by God. It means advocating changes in policy that honor, life, family, and allow the Church to be the Church. This is part of honoring our citizenship and knowing our heritage.

Stimulating Discrimination

2009-02-14T16:14:00.000-06:00

Many Democrats and their allies complain of writing discrimination in to the Constitution/law when Republicans take action that supports and endorses traditional values. However, in H.R. 1 American Recovery and Reinvestment Act they have written in to the law discrimination of their own. They ban funding from going to institutions or portions of institutions that teach courses with sectarian content at the Post-Secondary level.

Sec. 803 (3) reads as follows:

(3) PROHIBITED USES OF FUNDS- No funds awarded under this section may be used for–
(A) the maintenance of systems, equipment, or facilities, including maintenance associated with any permissible uses of funds described in paragraph (1);

(B) modernization, renovation, or repair of stadiums or other facilities primarily used for athletic contests or exhibitions or other events for which admission is charged to the general public;

(C) modernization, renovation, or repair of facilities–

(i) used for sectarian instruction, religious worship, or a school or department of divinity; or

(ii) in which a substantial portion of the functions of the facilities are subsumed in a religious mission; or

(D) construction of new facilities.

This language can be applied in a discriminatory fashion to disallow the funding from being received to modernize or renovate any building where sectarian instruction occurs. Sectarian instruction is any instruction that relates to or has characteristics of a sect or sectarian (Merriam Webster’s Dictionary). This would not only limit actual sectarian schools but also secular universities that offer sectarian courses of study.
An application of this section to funding would for example deny stimulus funding to renovate or modernize certain buildings on the campus of my alma mater, DePaul University because of the sectarian nature of the Catholic Studies Department and therefore the course work taught.

Photo Credit: DePaul University

For example, the Catholic Studies Department is on the fourth floor of Schmitt Academic Center, which is the same building that houses the School of Education as well as the the departments of History and Mathematical Sciences. This is mainly an administrative building.

Photo Credit: DePaul University

Levan Hall which is the main academic hall for Liberal arts would also be excluded under this language because this is where Catholic and Religious Studies courses are generally taught. O’Connell Hall the other wing of the building is where the math and science courses are taught. Under this language these buildings could be denied funding if renovations or modernization were needed.

Many schools public and private offer Religious Studies programs and under this language certain buildings where the Religion/Religious Studies department are located and the buildings where the courses are taught could be denied funding under this language. This language needs to be stripped from the bill before it goes to President Obama for his signature.

Free-Market Principles for the Digital Economy

2009-02-01T11:55:00.000-06:00

“The Internet,” it is often said, “changes everything.” For consumers, business leaders, and elected officials, this may not be far from the truth. But the transistion to a digital economy does not repeal the laws of economics, change our concept of justice, or invalidate the desirability of what classical liberal thinkers call “the rule of law.” The task is to apply timeless truths and the scientific method to a new and fast-changing reality.

1.Governments must allow electronic commerce to grow up in an environment driven by markets, not burdened with extensive regulation, taxation, or censorship. While government actions will not stop the growth of electronic commerce, if they are too intrusive, progress can be substantially impeded.

2.Where possible, rules for the Internet and electronic commerce should result from private collective action, not government regulation.

3.Governments do have a role to play in supporting the creation of a predictable legal environment globally for doing business on the internet, but must exercise this role in a non bureaucratic fashion.

4.Greater competiton in telecommunications and broadcast industries should be encouraged so that high-bandwith services are brought to homes and offices around the world and so that the new converged marketplace of broadcast, telephony, abd the Internet operate on laws of competiton and consumer choice rather than those of government regualation.

5.There should be no discriminatory taxation against Internet commerce.

6.The Internet should function as a seemless global marketplace with no artificial barriers erected by governments.

7.Protection of private property rights is an essential condition for effective planning and the long-term growth of the digital economy.

8.Effective public policy advocacy abd education are required to overcome opposition to change by special interest groups if the public is to public benefit from the many opportunities and efficiencies made possible by the digital revolution.

What a Day, What a party, What a Country

2009-01-31T22:04:00.000-06:00

Ever day is a new beginning for all of us. However, the last three months have represented some of the most extraordinary new beginnings in history. We have inaugurated the first black president and the Republican party has elected the first black chairman of either major political party. The Land of Lincoln produced President Obama and the Party of Lincoln produced Chairman Steele.

These two milestones represent a major improvement and forward movement in race relations as well as allows the country to celebrate the visible forward movement on the Rev. Dr. King's dream, though there is still work to be done. It would be unfair and incorrect to assume that these two milestones only occurred because of either white guilt or black pride alone. These may have been present to some degree, but Mr. Obama and Mr. Steele were elected on the strength of their character and the strengths they posses as individuals.

The election of both men represent a desire to have excellent communicators at the helm. They also mark a shift and reaction against the old order. Mr. Obama had to first best Mrs. Clinton and Mr. Steele had to beat out an incumbent chairman chosen by Mr. Bush. Even though I voted for Mr. Huckabee in the primary, Mr. Barr in the general election and supported Mr. Dawson for RNC chair I see the elections of Mr. Obama and Mr. Steele as positive directions in the country. I still like Mr. Dawson and admire his accomplishments but realize that Mr. Steele is most likely to be able to counter Mr. Obama effectively without race becoming an issue. Mr. Steele is also very well qualified and an extremely able communicator. These factors will aid us in the hard work to come of countering Mr. Obama's most unacceptable policies and presenting our own vision.

Secretary of the Treasury Timothy F. Geithner

2009-01-27T16:07:00.000-06:00

On January 26, 2009, Timothy F. Geithner was sworn in as the 75th Secretary of the United States Department of the Treasury in a ceremony attended by President Barack H. Obama, and Vice President Joseph R. Biden Jr.

Before his nomination to the Treasury, Secretary Geithner served as the ninth president and chief executive officer of the Federal Reserve Bank of New York, where he began on November 17, 2003. In that capacity, he served as the vice chairman and a permanent member of the Federal Open Market Committee, the group responsible for formulating the nation's monetary policy.

Secretary Geithner first joined the Department of Treasury in 1988 and worked in three administrations for five Secretaries of the Treasury in a variety of positions. He served as Under Secretary of the Treasury for International Affairs from 1999 to 2001 under Secretaries Robert Rubin and Lawrence Summers.

He was director of the Policy Development and Review Department at the International Monetary Fund from 2001 until 2003. Before joining the Treasury, Secretary Geithner worked for Kissinger Associates, Inc.

Secretary Geithner graduated from Dartmouth College with a bachelor’s degree in government and Asian studies in 1983 and from the Johns Hopkins School of Advanced International Studies with a master’s in International Economics and East Asian Studies in 1985. He has studied Japanese and Chinese and has lived in East Africa, India, Thailand, China, and Japan.

He and his wife, Carole Sonnenfeld Geithner, have two children.

Speeches & Statements

2004

03/25 - Change and Challenges Facing the U.S. Finanacial System05/27 - Perspectives on the U.S. Financial System06/09 - The Changing Face of Risk management06/10 - The Bretton Woods Instiutions in the 21st Century10/01 - Changes in the Structure of the U.S. Financial System and Implications for Systemic Risk10/14 - Challenges Facing the Global Payments System11/17 - Hedge Funds and Their Implictions for the Financial System12/08 - Remarks at the National Academy Foundation's 2004 Dinner

2005
01/13 - Key Challenges in Risk Management01/19 - A View from the Federal Reserve Bank of New York03/30 - Perspectives on Monetary Policy and Central Banking
04/01 - Perspectives on U.S. Monetary Policy04/12 - Economic Policy and Sustainability of U.S. Productivity Growth04/19 - Financial Integration and its Implication for International Cooperation04/25 - Remarks by Timothy F. Geithner at the Institute of International Finance, Inc.'s Annual Membership Meeting in Washington, D.C.10/18 - Challenges in Risk Management10/19 - U.S. and the Global Economy

2006
01/11 - Some Perspectives on U.S. Monetary Policy01/23 - Policy Implications of Global Imbalances02/28 - Risk Management Challenges in the U.S. Financial System03/09 - U.S. Monetary Policy in the Global Financial Environment04/05 - Risk Management Challenges in a Changing Financial Environment05/16 - Implications of Growth in Credit Derivatives for Financial Stability
05/19 - Principles to Guide Future Evolution of Financial Supervision and Regulation05/31 - Uncertainty and Transperancy in the Conduct of Monetary Policy
09/15 - Hedge Funds and Derivatives and their Impliction for the Financial Systems
10/04 - Progress Toward Financial Stability in Emerging Market Economies
10/26 - Global Economic and Financial Integration: Some Implications for Central Banking

2007
01/11 - Developments in the Global Economy and Implications for the United States
02/28 - Liquidity and Financial Markets
03/23 - Credit Markets Innovations and Their Implications
04/17 - Global Economic Integration: The Opportunities and the Challenges
05/04 - Reflections on the Changing Global Economy
05/15 - Liquidity Risk and the Global Economy
06/13 - Asia, the World Economy and the International Financial System
06/20 - Reflections on the Asian Financial Crises
12/13 - Restoring Market Liquidity in a Financial Crisis

2008
03/06 - The Current Financial Challenges: Policy and Regulatory Implications
04/03 - Actions by the New York Fed in Response to Liquidity Pressures in Financial Markets
06/09 - Reducing Systemic Risk in a Dynamic Financial System
07/24 - Systemic Risk and Financial Markets

2009
01/26 - Remarks of Secretary Timothy Geithner (Swearing-In Ceremony)
01/27 - Treasury Secretary Opens Term with New Rules To Bolster Transperancy, Limit Lobbyist Influence in Federal Investment Decisions03/25 - Treasury Secretary Tim Geithner Remarks Before the Council on Foreign Relations

Purging and Hushing Internal Critics Will Not Rebuild the Republican Party

2008-12-06T21:39:00.000-06:00

One thing is clear after the election defeat of John McCain: The Republican Party must assess, rebuild, and better communicate in the future. However, the assessment stage is taking an unacceptable turn which hears calls for purging the party and conservative movement of those considered to be RINOs and purify the ideology. Purging and purification will only make the party smaller and not persuade independent ad moderates to join us.

RINO, a term I intensely dislike is thrown around at anyone that finds disagreement or is unorthodox with their approach, a practice that does not help. Republicans need to remember how Ronald Reagan brought the Republican Party together and attracted some crossover conservative Democrats. They also need to observe and learn to marry the internet and community organizing rather than purging the party and purifying it. We need Republicans of all stripes to help in rebuilding the party.

Then there is the harsh and impolite way that we have been dealing with internal critics. The internal critics: Kathleen Parker, Michael Smirconish, Christopher Buckley, and Sen. Jim DeMint; need to have their view points considered. It was uncalled for that DeMint’s Senate colleague Richard Shelby said that DeMint should just shut up with his concerns once he is outside the caucus room. DeMint dared to criticize the policy direction of the party over the last few years.

He Said:

We have to be honest, and there’s a lot of blame to go around, but I have to mention George Bush, and I have to mention Ted Stevens, and I’m afraid I even have to mention John McCain. McCain, who is a proponent of campaign finance reform that weakened party organizations and basically put (hedge fund billionaire and liberal philanthropist) George Soros in the driver’s seat. His proposal for amnesty for illegals. His support of global warming, cap-and-trade programs that will put another burden on our economy. And, of course, his embrace of the bailout right before the election was probably the nail in our coffin this last election. And he has been an opponent of drilling in ANWR, at a time when energy is so important. It really didn’t fit the label, but he was our package.

His criticisms are insightful and could lead to solutions if we wish to have them. The people need to hear from Mr. DeMint because otherwise we may not know what our GOP is doing.

Why do we always seem to circle the wagons, lick our wounds, and seem to expect that if we keep doing the same things we will get a different result? Isn’t that expectation the definition of insanity?

Our leadership needs to listen to internal critics because it is more effective to listen to those who are directly involved in order to rebuild and reform the party rather than simply reacting to what outsiders do and say. What we need is the message discipline and communication style of Reagan, the organizational resources of Obama, and spokes people that communicate warmth, knowledge, and common sense as well as conservative principles.

Purging and Hushing Internal Critics Will Not Rebuild the Republican Party

2008-12-06T18:52:00.000-06:00

One thin is clear after the election defeat of John McCain: The Republican Party must assess, rebuild, and better communicate in the future. However, the assessment stage is taking an unacceptable turn which hears calls for purging the party and conservative movement of those considered to be RINOs and purify the ideology. Purging and purification will only make the party smaller and not persuade those whom we need to join us any more likely to do so. RINO, a term I intensely dislike is thrown around at anyone which creates disagreement or is unorthodox with their approach. This does not help any Republicans need to Remember how Ronald Reagan brought together the Republican party and also attracted some crossover conservative Democrats. They also need to observe and learn to marry the internet and community organizing rather than purging the party and purifying it. We need Republicans of all stripes to help in rebuilding the party.

Then there is the harsh and impolite way that we have been dealing with internal critics. The internal critics: Kathleen Parker, Michael Smirconish, Christopher Buckley, and now Jim DeMint; need to have their view points considered. It was uncalled for that DeMint’s Senate colleague Richard Shelby said that DeMint should just shut up with his concerns once he is outside the caucus room. DeMint dared to criticize the policy direction of the party over the last few years. His criticisms are insightful and could lead to solutions if we wish to have them. The people need to hear from Mr. DeMint because otherwise we may not know what our GOP is doing.
Why do we always seem to circle the wagons, lick our wounds, and seem to expect that if we keep doing the same things we will get a different result? Isn’t that expectation the definition of insanity?

Our leadership needs to listen to internal critics because it is more effective to listen to those who are directly involved in order to rebuild and reform the party rather than simply reacting to what the other side does and says. What we need us the message discipline and communication style of Reagan, the organizational resources of Obama, and spokes people that communicate warmth, knowledge, and common sense as well as conservative principles.

Post Election Wrap-up: Time to Rebuild as History is Made

2008-11-05T19:13:00.000-06:00

Last night the election results showed that American has changed and grown-up on the issue of race, however, there are conservatives that are seething at their brethren who dared to question the orthodoxy during the election cycle. It is time that conservatives learn to take criticism from within because this criticism is often meant as a loving admonishment to look internally for the answers to their questions about what went wrong.

First, lets recognize and celebrate the history of electing Sen. Barak Obama President of the United States. There were people that believed that this momentous turn of events could not happen because of racist sentiment in the country. However, people from all backgrounds unified to elect Barak Obama. Obama also brought in many new voters and won the youth demographic. His coattails helped bring some new blood into the legislatures of this country as well.

The task now turns to governing and we need to watch closely and hold him accountable for his actions because he has promised and even acted conciliatory in holding out an olive branch to the defeated conservatives, thus inviting them in any wanting to hear their concerns. This is an improvement.

Now I will turn to the actions of conservatives who want to throw those who dated raise questions about ticket McCain-Palin, even when they gave good reasons for their decision to vote for and/or endorse Obama, as well as those who just criticized the ticket. These questions of those like Christopher Buckley, Michael Smirconish, William Kristol, Daivid Frum, and David Brooks should be seriously pondered. All questions and concerns need to be heard when addressing the rebuilding the Conservative/Republican Brands. Those who love Sarah Palin have no fear becasue she has a prominent place in the rebuilding of the brand. However, the questions about her experience were just as relevant as when the same questions were about Barak Obama. The particular questions that were most prescient in this election were the economy and foreign policy. On the second issue set Palin’s inexperisnce would have posed a problem if she had to take over as president. Barak Obama at least has spent the last two years on the Foreign Relations Committee of the United States Senate.

This election proves that the GOP must rebuild its brand and credibility even as this greatest country on God’s green earth makes history.

Commentary: Defending Sarah Palin

2008-09-17T00:12:00.000-05:00

A Response to Mary Mitchell of the Chicago Sun-Times
Ever since Senator John McCain (R-AZ) the GOP presidential nominee announced his surprise selection of Governor Sara Palin of Alaska as his Vice President Sun-Times columnist Mary Mitchell has been hammering away at Palin. This commentary is an attempt to respond to Mitchell and her charges.

In her first column ” The Gender Game” Mitchell mentioned the historic nature of Gov. Palin’s selection as Senator McCain’s running mate and even called her a reformer. She also thought that Palin was a fighter, but then the rest of the column set a negative tone. She bemoaned that the “Choice feels sleazy.” She then diminishes the choice by claiming that it is not Palin’s brains that McCain is after, but her gender because of Hillary voters. She called the selection a desperate and sleazy game for which women would not fall.
If Sen. McCain’s selection of Palin were just about capturing the Hillary voters by choosing a women there are others he could have chosen like Rep. Heather Wilson (NM) or Gov. Jodi Rell of Connecticut. These two women are also very intelligent and capable of leading the country. Some thought he might chose fellow Sen. Kay Bailey Hutchinson (TX), however, rather than going with the two known individuals or the eastern Republican he chose the Gov. of Alaska. Granted Hutchison and Wilson are insiders and he was looking for an outsider. That would leave Palin or Rell and he chose Palin because according to McCain Palin campaign manager Rick Davis “He saw alot of himself in her ( Newsweek, 30 Aug 08)”. There is nothing sleazy or cynical here. This was a choice based on his instinct of who he would be able to work with the best.

Second, in ” Palin not on board Straight Talk Express” Mitchell called it ‘melarkey’ that they thought it was a beautiful thing that their daughter was going to bring a baby in to the world because Republicans don’t extol the beauty when a girl similar to Bristol Palin on the South Side of Chicago turns up pregnant. They call it a tragedy. She calls Palin and her views part of the problem. She blames the absence of comprehensive sex-ed and the presence of abstinence-only programs. She talks about 17 year old girls throwing caution to the wind and having unprotected sex regardless of the messages that adults send to children. She also calls melarkey that the Palin’s were happy that their daughter was gong to marry the young man. She reasoned that Gov. Palin should have publicly acknowledged the disappointment she felt about the situation. She calls for compassion for those in the less fortunate areas.

It is folly to blame either the absence of comprehensive sex-education programs or fault the presence of abstinence-only programs for the complex problem of teenage pregnancy. It is also difficult to completely blame the parents of Bristol Palin or any other unwed, pregnant teenager when we know that some will get pregnant no matter weather we send the abstinence-only message or the message sent in comprehensive programs. It is hard to expect these programs and parents to completely cancel out the effects of friends and culture as a whole. Young people are bombarded with sexual messages through the very media that we expect to provide the message of responsibility, which does not sell that well. I do believe that the Palin’s were disappointed in their daughter for getting pregnant, but if they would have come off as reprimanding her in public then there would have been an outcry. This delicate situation should be dealt with privately and not made in to a platform for policy and politics.

Third in ” Palin knows how to throw a punch” Mitchell makes the assertion that Palin was only selected because she can throw a punch. She speaks to Palin’s “heart of a street fighter.” The column goes on to chronicle some of the highlights of Palin’s acceptance speech at the Convention. She mentions that Palin made the media the enemy because she didn’t feel accepted by them. Her conclusion was that even if Palin’s selection was a scheme the battle is real.

Hockey (or other Sports Moms for that matter) moms sure do know how to throw a punch and stand up in a fight. However this was not the only reason she was chosen, she was chosen for the reason stated above and those that will follow. I thought her acceptance speech was an excellent speech. This selection was not a scheme but a gamble that will pay huge dividends for Sen. McCain.

Fourth, in ” Is attack dog’s bite even worse than her bark?” Mitchell talks of Palin overshadowing McCain and her feeling that Palin is being divisive. Her claim is that Palin pit small-town people against everyone else and black against white. She thought Palin was mean and seemed to believe that Palin was saying that good people can’t come from cities. She also bordered on accusing Palin of saying that others were not patriotic. Though Mitchell admits that Palin’s war memorial comment was not meant as anything against Obama she could see how some could take it that way.

Gov. Palin will not overshadow Sen. McCain in the same way that Hillary Clinton, though immanently qualified would overshadow Barak Obama. Gov. Palin and Sen. McCain Complement each other very well. He is a war hero and a reformer and she is a reformer as well as having administrative experience. In her convention speech Palin was neither mean nor divisive. Mean spirited and divisiveness can be read into it though by those who wish to fan the flames of discontent. In her comment about good people coming from small towns she was recognizing her roots and not slighting large urban areas. Palin never said anyone was unpatriotic. All she meant by her war memorial comment was that it is people who have served this country that are on war memorials in small towns and they are usually the names of hometown heroes. I also understand how this comment could be taken in the other context, but we do not need columnists at major newspapers fanning the flames on this.

Finally, in ” Palin should be a laughingstock to all feminists” Mitchell asserts that Palin makes her sick even though she liked a fiesty character on Thelma & Louise she could not stand Palin’s fiestiness at the convention. She also has a problem with her appearing to be caught off guard by the question about the “Bush Doctrine.” She asserts that the media has crowned her as a new age feminist, but Mitchell does not think so. She also asserts that it is a stretch that Palin is reform minded, even though earlier she said that Palin was a reformer. and then reveals some things that she believes tarnishes the claim. There is also the claim that she would not have had any time to attend any events for her children at school. Mitchell believes that her views on abortion and abstinence are extreme. She wraps up by saying the fact that Palin is a star should make any feminist sick.

Feminists should be proud that Gov. Palin has been chosen as the GOP nominee for Vice President, even though they disagree with her on policy and don’t plan to vote for the McCain Palin ticket. Just her presence on a major party ticket advances women and shows that women can work and raise a family. I can understand where she wouldn’t have time to attend school functions, but I believe that she did attend some. Mitchell had claimed earlier in her writing that Palin was a reformer. Palin’s reform credential were gained in the battle to reform her home state of Alaska. I disagree with her personal opinion on not allowing abortion in cases of rape or incest but agree that states should decide the issue and not the federal government. I also am glad that she understands and is willing to work with all to reduce teenage pregnancy. I think that Palin was genuinely caught off guard by Charlie Gibson’s question about the “Bush Doctrine” and handled it well because it is not something that many people can definitively describe, as there are at least four definitions of it and Gibson could not even answer the questions. The media has not crowned Palin a new-age feminist, but derided her and tried to stop her from busting the glass ceiling. It is outrageous to dislike a woman who is feisty in real life and extol the virtues of a television character. Palin is not and should not be a laughingstock. Palin and her candidacy should be celebrated and exalted even though you may not vote for her or like the GOP. Palin’s selection as Vice Presidential nominee is as historic as Barak Obama being nominated by the Democrats.

McCain, Obama, and Houses: Property Ownership & Campaigns

2008-08-24T00:57:00.000-05:00

The furor started a clouple days ago when Republican presidential nominee John McCain could not answer a question about how many houses he owned. His answer to the questions wa "I think I'll have my staff get back to you," according the Politico. Within hours rival Democratic nominee Barak Obama sent out a blast e-mail asking his supporters to write letters to the editor exposing the real John McCain.

Yes, Mr. O'Bama if asked most middle class Americans could tell you how many houses they owned. However, the amount of property, weather it is the house you live in or ones in which you have invested, are not the issue. Mr. Obama himself owns a large, expensive mansion in Hyde Park, one of the most exclusive communities in Chicago. So, what is wrong with McCain owning seven properties. If the Democrats want to enter the property debate then they better be ready for the onslaught because this will bring up Mr. Obama's affiliation with convicted felon Tony Rezco.

Also, for the Deocratic party to complain about and use a property and wealth based argument is wrong because they compalined when John Edward's large custom-built home was discussed in 2004 is hypocritical.

John McCain makes no pretenses of fighting for a paverty alleviation agenda, but Democrats always do. This is not a problem, but the Democrats need to stop playing "gotcha" on the wealth issue because there is no individual below the pay grade of a John Edwards or Barak Obama that could possibly run for presidnet.

President Bush's Vetoes More Politics than Principle

2008-08-07T10:17:00.000-05:00

In 2007 President Bush has threatened slightly more than twice the number of vetoes he did in 2003, according to USA Today. This marker is important because in 2003 there was a Republican led House Senate that was drawing threats for similarly spending above what the president requests or attaching disagreeable legislative provisions. The Democrats took over in January 2007 and continue this practice of spending over the president's request. Those who argue that well the Democrats spend further over than the Republicans are missing the point. When your principle is capping spending on a program to control it shouldn't matter who spends how much more than the president's request. The principle dictates that you veto bills no matter who they come from when the break your cap or contain provisions unacceptable to you.

When Republicans controlled both the House and Senate the President threatened a veto on bills above his cap or with disagreeable provisions attached but than signed them anyway. One example is the transportation bill in 2004 on which the Heritage Foundation supported a veto because of wasteful spending included in the bill. The President even called the Senate version of the bill excessive for exceeding his cap. After declaring the bill excessive he signed the House version, which was no less excessive. The second example is the Defense Authorization Act of 2005, which included the Detainee Treatment Act, also received a veto threat. However, President Bush signed the bill and attached a signing statement with respect to the detainee language.

Now with the Democrats in control he threatens to veto any legislation that includes an Iraq time line or restrictions on operations in Iraq. This threat produced a bill that did not include the offensive language in any form. The President is also threatening vetoes on any spending legislation that breaks his caps.

The only veto during the Republican controlled legislature was the HR 800 Stem Cell Research Enhancement Act. This veto was specifically for social/cultural conservatives and there was nothing in it that would give fiscal conservatives any hope. Now he is vetoing spending legislation and the fiscal conservatives are supposed to be happy. However, these vetoes are more about politics than principle. It makes good politics to veto Democrat legislation and apparently OK to strong arm your own party with signing statements when the send you something that you do not like.This is politics and an exertion of raw executive power. The reason President Bush may not use signing statements on Democrat legislation is because the GOP wouldn't stand up to him for doing or support Sen. Warner, McCain, and Graham when they criticized the President in the Boston Globe about the signing statement attached to the Detainee Treatment Act. No one on either side stood with them even though the act passed overwhelmingly.

We need to examine the issues of principle over politics when looking at the actions of our elected officials. It is a noble goal to want to cut wasteful spending or understandable to wish to control the conduct of a war. However, weather the House and Senate in the control of your party or the opposing party you should use the same veto power to control both.

August 2008 Budget & Tax News

2008-07-04T19:57:00.000-05:00

The August 2008 issue of Budget & Tax News is hot off the presses and spotlights state lotteries and smoking bans. It also covers the pledge by Senators McCain and Obama to support transparency in government, Congresses attempt to address flaws in the Alternative Minimum Tax and the former comptroller David Walker's remarks regarding sustainability.

Californian's are weary of Gov. Arnold Schwarzenegger's plan to borrow against the state's lottery. It is a plan that budget experts and watch dogs caution about. The spotlight also asks the question as to weather state lotteries are stagnating and in several states' governors are pushing privatization of the lotteries.

In the other spotlight articles Budget & Tax News takes on the issue of smoking bans author Jeremy Richards writes that even though government-imposed smoking bans, though spreading, are likely to be repealed because history points in that direction. In a sidebar, New York sets a record cigarette tax and individuals seek 'loose square men' to purchase single cigarettes.

In other news this month, both Senators McCain and Obama vow support for transparency on government spending. The movement toward transparency is gaining ground because the people demand it. Second, Congress plans to address the AMT. Congress is fixing a flaw in the AMT that required many businesses to pay 300% of their salaries in taxes. Finally, former Comptroller, David Walker, warns about the sustainability of the current debt/deficit. In a key note address at the Washington Policy Center Walker called America a "Republic at Risk" because our current path with regard to size of government and spending are unsustainable.

These stories and more are available in the August issue of Budget & Tax News, a publication of The Heartland Institute.

New Immgrants and the Election: Will they be a factor

2008-07-02T22:00:00.000-05:00

Let's debate like it's 1996 again. As we ready ourselves to vote in November in the most important election this country has seen in decades the politicians in Washington are wrangling over weather the newly sworn immigrant will be allowed to vote. The ceremony for the new citizens is in October. According to MSNBC the administration is being accused of slowing the process of approving immigrants for citizenship. This is the opposite of the 1996 charge that the administration was accelerating citizenship to influence the election.

Another Article asks "Will new citizens be an election factor?" There are a total of 820, 000 new citizens between the states of Colorado and Florida. Colorado is where the Democrats are holding their convention in August. Many of these voters cannot speak either English or Spanish well.

Detainees and Habeas - An Open Letter to Sen. Lindsey Graham

2008-06-12T18:30:00.000-05:00

I am also reviewing the Supreme Court’s decison and am disappointed in your over reaction to it. The one tweak that may be needed to satisfy the Court is to allow the review to be a habeas review.

I thought that the procedures were generous and sufficient, but that does not equate to constitutional and in keeping with the habeas statute.

I certainly don’t think you should make a statement like the one you have until you have completely finished reviewing the decision. I am a bit concerned about your constant warring with the Court.

In my reading so far I see nothing that says that they would have a right to sue. However, if the Court did have full review and found that an individual was wrongly detained; especially because of the length of time involved that justice ought to be rendered even if it meant a lawsuit against our government for improper detention.

A portion of this problem is the legislature’s fault because they did not act and set guidelines for capture, detention, and trial at the outset. Now you are finding out that you have to deal with many court decisions that you don’t like because of not getting your colleagues to move sooner on this issue.

I am sure that if you look carefully that there is a way that you can comply with this decision and not harm the military. You need to retreat from the political sphere with your law books and the case document and study it carefully. It is also wise to seek the counsel of other attorneys and have an open discussion. This cannot be done in the political sphere because when attempt this sort of thorough analysis in the hot political sphere you end up not making a wise conclusion like the promise that you will support overturning this decision.

It is the job of lawyers and congress to figure out how to comply with the edict of the case and not compromise security. There has to be a way and you need to find it.