Take the the time to watch all the videos. This may be the best defense of freedom of speech and the press that I've ever seen.
Friday, January 18, 2008
The subprime collapse has had a direct impact on state revenues: house price sales have dried up which has, in turn, reduced property tax collections. This has hit state coffers by $1bn during the past two financial years, according to Bill Lockyer, California’s Treasurer.
“The economic downturn has deepened our budget hole by preventing revenue growth from keeping pace with spending growth,” says Mr Lockyer. “And it has brought into sharper relief our ongoing, long-term structural budget problem, namely our chronic inability to match revenues with expenditures.”
I've said for a while now that the biggest impact of the downturn in the real estate market would be on state and local government. For too long public finances have been dependent on Ponzi scheme pricing. Maybe now there can be a realistic conversation about how we fund government in this country.
Madeleine Albright has said that there is "a special place in hell for women who don't help each other." What are the implications of this statement? Would it be an argument in favor of the candidacy of Mrs. Clinton? Would this mean that Elizabeth Edwards and Michelle Obama don't deserve the help of fellow females? If the Republicans nominated a woman would Ms. Albright instantly switch parties out of sheer sisterhood? Of course not. (And this wearisome tripe from someone who was once our secretary of state . . .)