U.S. Posts $176.36 Billion Deficit for October - WSJ.com
The October deficit figure is wider than the Congressional Budget Office's estimate for a $175 billion deficit in the month and wider than the $165.9 billion expected by analysts surveyed by Dow Jones Newswires.
The Treasury on Thursday also revised September's deficit to a slightly narrower $46.57 billion, from a previously reported $46.61 billion. Even with the revision, the U.S. in fiscal year 2009 posted a record total budget deficit of near $1.4 trillion -- three times its previous record.
At the equivalent of 9.9% of gross domestic product, the figure is the widest U.S. deficit as a share of GDP since 1945.
The current fiscal year deficit of just the Federal government is almost 10% of GDP.
That's before the states and local entities...
vs.
Senator Reid tees up 2010 jobs bill - TheHill.com
Harry Reid thinks the way to solve all our woes is to toss another $500 billion onto the fire.
There is a complete disconnect between reality and behaviour.
What planet are they on?
They act like badly-parented children, who never learned the direct relationship between behaviour now and and results later...
Saturday, November 14, 2009
Tuesday, November 10, 2009
The Hard Decisions Begin in Earnest, County by County
Save our Fairfax County Public Schools band and strings programs - The Petition Site
A vendor sent this notice over on email, urging that Fairfax County (Maryland?), staring a $176,000,000 deficit in the face, keep its band and orchestra programs publicly funded.
Many have expressed concern, dismay and questions over the Straw Man list suggesting the elimination of the Fairfax County Elementary Band And String program in the FY2011 Budget. The school system faces a $176 million deficit. Eliminating a program that serves 28,000 students is not acceptable. This will, in a short time decimate our secondary school bands and orchestras.
This is not an appeal to sign a petition, but an illustration of the quandry faced by counties everywhere.
A few thoughts:
1. Not picking on these folk in particular, but every county and every school board will be facing tough decisions beginning this next fiscal year. One bad thing about The Stimulus is that it allowed local leadership in some cases to paper over the problem for one more year, 'kicking the can down the road'(to quote Fred Thompson), and making the subsequent decisions even more painful. Yo' taahmm is UP, everybody. Gotta make some hard decisions.
2. I'm a musician by trade, but I'm a parent, and friend of other parents. If it comes down to keeping the chemistry, maths, history, and foreign languages curricula in place versus the school band and orchestra program, then band and orchestra have to go. Let's hope it doesn't come down to that, but it may!
3. The nasty little secret no one wants to discuss is that most public-school band and orchestra programs are dreadfully bad. I've seen a lot do more harm than good. Many don't deserve to survive. If they're good, they can likely survive outside the walls of the school.
4. If it's important to families and communities for children to learn music, and learn how to do it well, then this can be provided with much higher quality and less cost outside the walls of the public school. How much does it matter to you, mom and dad? Enough to write checks, volunteer, and quietly make certain your neighbors' kids from less affluent circumstances also have that opportunity? I see marching bands(don't get me started!) where the band-boosters have purchased semis and trailers to haul all that stuff around--upwards of 500k in capital investment in some of these programs! This really matters to these folk, and they pour out the money and time to make certain it happens. (And marching bands really suck as a music education approach.) Imagine a community youth orchestra with a 500k capital investment for gear and rehearsal space!
5. A two-word solution for music education in schools that doesn't cost tons of money: Choral Music. Every kid arrives at school with the instrument installed. You need a really good teacher, a really good piano(and pianist), and about 2k a year for music library purchases. For about 120-150k a year, every kid in the school can learn how to read music and how to sing. That's a lot more than is presently being accomplished.
These hard choices must be made. The money is not in the public coffers, and will not be there for years to come. Whining and demanding that non-existent tax revenues be spent on programs that don't deliver value for students is not the solution. Some very worthy programs, such as the Fairfax County elementary string orchestra, may have to reorganize outside the walls of the school.
Hard decisions will have to be made.
If we make them wisely, the culture will begin to recover.
And, after that, the economy will begin to function again.
A vendor sent this notice over on email, urging that Fairfax County (Maryland?), staring a $176,000,000 deficit in the face, keep its band and orchestra programs publicly funded.
Many have expressed concern, dismay and questions over the Straw Man list suggesting the elimination of the Fairfax County Elementary Band And String program in the FY2011 Budget. The school system faces a $176 million deficit. Eliminating a program that serves 28,000 students is not acceptable. This will, in a short time decimate our secondary school bands and orchestras.
This is not an appeal to sign a petition, but an illustration of the quandry faced by counties everywhere.
A few thoughts:
1. Not picking on these folk in particular, but every county and every school board will be facing tough decisions beginning this next fiscal year. One bad thing about The Stimulus is that it allowed local leadership in some cases to paper over the problem for one more year, 'kicking the can down the road'(to quote Fred Thompson), and making the subsequent decisions even more painful. Yo' taahmm is UP, everybody. Gotta make some hard decisions.
2. I'm a musician by trade, but I'm a parent, and friend of other parents. If it comes down to keeping the chemistry, maths, history, and foreign languages curricula in place versus the school band and orchestra program, then band and orchestra have to go. Let's hope it doesn't come down to that, but it may!
3. The nasty little secret no one wants to discuss is that most public-school band and orchestra programs are dreadfully bad. I've seen a lot do more harm than good. Many don't deserve to survive. If they're good, they can likely survive outside the walls of the school.
4. If it's important to families and communities for children to learn music, and learn how to do it well, then this can be provided with much higher quality and less cost outside the walls of the public school. How much does it matter to you, mom and dad? Enough to write checks, volunteer, and quietly make certain your neighbors' kids from less affluent circumstances also have that opportunity? I see marching bands(don't get me started!) where the band-boosters have purchased semis and trailers to haul all that stuff around--upwards of 500k in capital investment in some of these programs! This really matters to these folk, and they pour out the money and time to make certain it happens. (And marching bands really suck as a music education approach.) Imagine a community youth orchestra with a 500k capital investment for gear and rehearsal space!
5. A two-word solution for music education in schools that doesn't cost tons of money: Choral Music. Every kid arrives at school with the instrument installed. You need a really good teacher, a really good piano(and pianist), and about 2k a year for music library purchases. For about 120-150k a year, every kid in the school can learn how to read music and how to sing. That's a lot more than is presently being accomplished.
These hard choices must be made. The money is not in the public coffers, and will not be there for years to come. Whining and demanding that non-existent tax revenues be spent on programs that don't deliver value for students is not the solution. Some very worthy programs, such as the Fairfax County elementary string orchestra, may have to reorganize outside the walls of the school.
Hard decisions will have to be made.
If we make them wisely, the culture will begin to recover.
And, after that, the economy will begin to function again.
Proof Positive: There's One Born Every Minute
P.T. Barnum was right!
The government of Argentina, that model of stability, prudence, and sobriety stretching back generation upon generation, has decided to rejoin the world, and settle up on its old sovereign debt defaults. The bondholders just have to take a 60% haircut, that's all.
Easy-peasy.
Then, they plan to issue NEW sovereign debt, at an attractive rate of interest.
And, there are money managers out there planning to buy in!
Could it be they know, when push comes to shove, they can now dump the resultant losses on the US Treasury and taxpayer?
In the great Latin American tradition of 'La Mordida', how much kickback money should we estimate will funnel its way back to those managers as they make those purchases with their clients' funds?
This should turn out well...it's a sure thing. Where do we sign up?
Argentina Legislation Aims to Settle Bond Dispute - WSJ.com
The government of Argentina, that model of stability, prudence, and sobriety stretching back generation upon generation, has decided to rejoin the world, and settle up on its old sovereign debt defaults. The bondholders just have to take a 60% haircut, that's all.
Easy-peasy.
Then, they plan to issue NEW sovereign debt, at an attractive rate of interest.
And, there are money managers out there planning to buy in!
Could it be they know, when push comes to shove, they can now dump the resultant losses on the US Treasury and taxpayer?
In the great Latin American tradition of 'La Mordida', how much kickback money should we estimate will funnel its way back to those managers as they make those purchases with their clients' funds?
This should turn out well...it's a sure thing. Where do we sign up?
Argentina Legislation Aims to Settle Bond Dispute - WSJ.com
Tear Down This Wall
Twenty years ago, we watched in joy and wonder as the Berlin Wall was pulled down by the citizens of Berlin itself.
The Soviet Empire had been teetering for some time, but we could not see it from here.
Ronald Reagan knew better, and delivered the kick to the sternum that led to its inevitable collapse.
For those of you too young to remember, or too cynical to care, listen to 1:43 of a twenty-seven minute masterpiece, delivered by the last statesman to ever occupy the Presidency.
Words have meaning. Truth has power. Moral uprightness is a force of nature.
The cowards in our State Department wrung their hands at the audacity of Ronald Reagan for stating the simple truth.
They were wrong. They should have all been sacked. It was one of the few things Reagan left undone.
Moms and Dads, teach your children of this day, and how it came to be.
Full text and video here.
Speechwriter Tony Dolan's account of the crafting of the speech here, courtesy of Wall Street Journal.
God bless Ronald Reagan, and mercifully grant us more leaders like him.
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