What's this? A Book!
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Tue, 30 Mar 2010
Anticipating a problem before it's a problem is a good idea
New York Times Article about runaway debt in the states, with particularly unkind words about Rhode Island's borrowing policies:
Rhode Island Policy Reporter articles about runaway debt in our state, with particularly unkind words about Rhode Island's borrowing policies. (Especially DOT.) From:
It's nice to be right, and anticipating a problem before it happens is good, but it's nicer to have been able to prevent a problem. Did I mention I'm running for general treasurer in order to prevent the next problem?
17:44 - 30 Mar 2010 [/y10/ma] link
Tue, 09 Mar 2010
Much has been made nationally of the Obama administration's stimulus package and efforts to turn around one of the weakest economies we have seen in decades. But in Rhode Island, our politicians have enacted counterproductive measures that have only harmed Rhode Island families and small businesses and continue to hold us back. It is not too late to turn around these policy decisions and take decisive action to put working Rhode Islanders first, but it will require stronger voices than we have seen at the Statehouse in recent years.
The problem is that state leaders have seen only one path to economic development: increase investment. This has led them to promote tax cuts for the rich, among them the "flat" tax. In order to pay for those tax cuts, the state government has absorbed some of the Obama stimulus money that should have gone to cities and towns, and to schools. Property taxes have been increased, leaving thousands of working families with even less money to spend. We've laid off municipal workers and teachers, and made cuts in education, Medicaid, and other services used by ordinary Rhode Islanders.
These policies send a clear signal that our leaders in the statehouse, notwithstanding rhetoric to the contrary, have not really been helping working families in Rhode Island. Rather, they've used the stimulus money to make up for foolhardy tax cuts for the wealthy -- tax cuts that will not in any way help our economy but will certainly help the corporate and monied interests who unduly influence too many elected officials.
But won't investment help? The idea that a lack of investment is limiting our state's economy is just not supportable. If anything, our state suffers from too much investment. We are still feeling the effects of a collapse of a speculative bubble in housing. How do you have a speculative bubble without investment? Rhode Island's problem is not a lack of funds to invest, but a shortage of productive places to invest them in.
What's more, a strategy of investment is inadequate given the scale of the problem. In its most recent annual report, the Economic Development Corporation boasts their $1.6 million loan fund has created 63 jobs and protected 396. That's great, but there are over 70,000 unemployed people in our state. What do we tell the rest?
16:20 - 09 Mar 2010 [/y10/ma] link
Tue, 02 Mar 2010
Strong consumer protection needed
Congress is choosing now between a wishy-washy do-nothing bill that pretends to do financial reform and consumer protection on financial matters, and a much stronger bill that actually has teeth and an independent Consumer Financial Protection Agency (CFPA). Read my letter to Jack Reed about the choice here.
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(A funny book you should own)
