The President unveiled his budget for fiscal year 2015 starting October 1, 2014. His budget calls for an increase in spending and taxes on upper income Americans. New policy goals were not included and instead included many of the measures that he had previously proposed. It did not include any changes to entitlements or any real move to reduce the deficit or any plans to improve the economy. Even though it is an election year and as a result the usual intention to provide spending for critical Congressional elections, should the budget contain overhauls necessary to spur the economy and reduce the debt? Is this budget the “Right Thing to do?”
The debate about raising the minimum wage is heating up. President Obamacalled on Congress to pass an increase in the minimum wage to $10.10 in his State of the Union address and then signed an executive order raising the wage for workers on new federal contracts. The State Board of Canvassers unanimously agreed to allow the group, “Raise Michigan” to begin collecting signatures to place a question on the November ballot to raise the minimum wage in Michigan to $10.10 an hour. What are the implications of a move to raise the minimum wage and is the “Right Thing to do?”
Without much fanfare last week, we read once again that a budget deal has been passed overwhelmingly by both the Senate and House. Didn’t we also have the news in December that a budget deal was passed? What budgets are we talking about? Can the press do a better job of reporting the information? Was the budget passed this time the “Right Thing to do?”
It has not even been a month since the Republicans and Democrats agreed to some budget cuts and revenue and spending increases to eliminate some of the sequester cuts and pass a two year budget. Some cost savings were to occur from changes in military pensions, that is reduce the cost of living adjustment (or Cola) for veterans under the age of 62 by one percentage point below inflation. That was to save $6.3 billion over 10 years. I know it is hard to believe, but there is already a move in Congress to restore the full Cola to all military retirees. Is this the “Right Thing to do?”
We had a bi-partisan deal to pass a 2 year budget and avoid another government shutdown at the end of 2013. Will that bi-partisan work continue? What can we expect and what will be the “Right Thing to do?” Let’s look at some possibilities:
City of Detroit: Retirement Funds – Nathan Bomey, Reporter, Detroit Free Press – One of the major reasons Detroit’s Emergency Financial Manager Kevyn Orr has given for bankruptcy is…
According to the U.S. Constitution the executive branch government has the responsibility to implement and enforce the law—at least that is what I thought until recently. The Affordable Care Act, Obamacare, was passed to be implemented by January 1, 2014. The insurance exchanges are to be operational by October 1, 2013. However, what we have seen in the past month or so has been a number of changes in the law orchestrated by the White House without new legislation passed by Congress. On what basis have these changes been made and are they the “Right Thing to do?”
For two decades, Wayne Crews of the Competitive Enterprise Institute has tracked the growth of new federal regulations. In his 20th anniversary edition he reported that the pages in the Code of Federal Regulations hit an all-time high of 174,545 in 2012, an increase of more than 21% during the last decade. At a time that our economy is still struggling and we have concerns about the federal debt and budget deficits, IRS scandals and National Security Administration scrutiny of phone and email records, can we afford to impose any more restrictions? Is this the “Right Thing to do?” Let’s look at some issues:
Entrepreneurship Score Card: Rob Fowler, President, Small Business Association of Michigan – Michigan is showing signs of economic progress for small businesses.
The U.S. Senate is expected to vote as early as this week on legislation allowing states to require Internet retailers to collect sales taxes. Every time Congress has taken a serious look at proposals to boost internet sales taxes, it has rejected them. That may be the reason that pro-tax Senators are trying to rush through an online tax hike with as little consideration as possible.