Unofficial Voice of the Utah Senate Majority
Welcome to The Senate Site
Monday, February 16, 2009New Revenue Figures
By Lyle Hillyard
Utah State Senator & Senate Chair of Exec Approps Tuesday morning, we will announce the new revenue figures based on the consensus work of the Governor’s and legislative economists. I am fearful that they will continue to show the slide in our economy. As upsetting as the proposed cuts appear from the work of the committees, they may not be enough and further reductions may be necessary. Something new that is becoming more clear is the spending package which should be signed by Pres. Obama this week. From the preliminary figures we have there will be about $400.0 M for education (both Higher and Public) and $213.0 M for transportation infrastructure. Our staff is working as hard as they can to get more definite figures including any strings and timing schedules. It will probably be more difficult to measure the indirect impacts of the tax cuts and any new requirements for existing programs that are not funded within the bill. Everyone should remember that the stimulus spending package is basically only one-time money so unless the spending really picks up the economy, we will be right back at this again next year. I was not pleased to see that the stock market fell almost 400 points the day the new Secretary of the Treasury announced the final payments under the bank bail out. I would have expected the stock market to rally if they thought the spending package was really going to do what was promised. What a tragedy it will be if the economy continues to slide after this big spending package. I expect that unless the economy completely collapses that Congress’s only solution will be to spend more money on say bullet trains from San Francisco to Las Vegas.
posted by The Senate Site at 9:16 AM | Link
|
Connect & EngageRadio Free SenateKeep in TouchTwitter UpdatesYour Government 2.0 Lab
Current Discussions
Senate Site Feed
|
© 2008. All rights reserved. Designed by Jeremy Wright & His Brother-In-Law
5 Comments:
Brokers and day-traders are now our arbiters of sound policy?
Somehow that method of analysis seems lacking.
Dan, I have to agree. I was with Sen. Hillyard until he mentioned a drop in the stock market as somehow predictive of the effectiveness of the stimulus. But I'm glad our legislators recognize the receipt of the money, and presumably will lessen the harsh impact of some of the cuts, at least this year.
the stock market has nothing to do with the effectiveness of a stimulus. in fact in this current situation bank share holders are realizing that before this ends they are going to stand to take large if not complete losses, so they're selling off.
that doesn't mean the economy is still sliding, it means the stock market is sliding. these are two very different things, and i would expect someone in a position of influence over the state budget such as yours to know the difference. then again, maybe that's why we've flat taxed ourselves a few hundred million into the hole.
Lyle, you know better than that. Having written that first sentence in the final paragraph, you come across misinformed and petty.
I've always expected more from you.
There are five main areas that will change the direction our government is going. By following The Constitution of The United States, we can get this country back to the grass roots that it was founded on. The policies that Obama is putting into place will change the way this country will look to the Americans in 2 years. After 4 years this country will be unrecognizable. Obama has run this country's financial spending so outrageously high, that your grand children will not be able to pay for it. The only way we will be able to pay for the stimulus packages is to raise taxes. But this will leave one big question. Who will pay the taxes to make up the money in the stimulus packages? The only people that will be able to pay the taxes are hard working Americans. So, this made me ask one more question. Who will receive money from the stimulus packages? We also know the answer to this question. At this point, large corporations that are too big to fail. And soon people that do not pay taxes will receive the money. Now to clarify, the people that do not pay taxes are, the illegal immigrants, people who do not work, people that refuse to work, people that work but get refunds (remember, if you get tax credits, this is money that will not be paid into taxes), and people who claim huge contributions so they don't have to pay taxes. In all cases, all those people do not pay taxes. This will leave less than 50% of Americans with the burden of paying this money back. This will put anyone who makes just enough money to live, with this burden. This will also increase corporate taxes, and the capital gains tax. This may seem like a good idea, but the Corporate tax in this country is the second highest in the world. This has caused Large Corporations to move manufacturing over Seas. How many Americans jobs are lost because of this?
By making changes in all five areas, we will be able to get our country back to a free democratic republic.
1: Fiscal Discipline
2: Accountability
3: National Security
4: Limited Government
5: Immigration Reform
James Williams for US Senate 2010
Post a Comment
<< Home