Click on the following for more details: BP approaching SWFs over strategic stake: source | Reuters
Tuesday, July 6, 2010
BP approaching SWFs over strategic stake: source | Reuters
McHenry County Ordinance violation system still possible
Peoria and Kane counties have instituted such “administrative adjudication” programs
Supporters say such a program would save the county time and money by allowing [McHenry County] administration to adjudicate building, zoning, stormwater and health-code violations instead of sending them to circuit court
Monday, July 5, 2010
Rock Valley College’s 2010-2011 Budget
The following is taken from the RVC College’s Board of Trustee’s minutes for May: http://www.rockvalleycollege.edu/About/upload/BOT-Packet-062210.pdf
Mr. Sam Overton [Vice President of Administrative Services] reviewed the FY 2011 budget timeline, noting a possible $1 million deficit due to a decline in Equalized Assessed Valuation (EAV). Although the state of Illinois is current in its payments, the College’s portion is declining and receipt of future payments is uncertain. Mr. Overton indicated that Administration is reviewing options to reduce expenditures in both FY2010 and FY2011, and the College will budget for zero EAV growth and manage the current tax rate of $0.45. Discussion followed regarding budget reduction ideas including those suggested by RVC faculty and staff at a recent President’s Council meeting.
Sunday, July 4, 2010
Oil Companies Reap Billions From Subsidies - NYTimes.com
But an examination of the American tax code indicates that oil production is among the most heavily subsidized businesses, with tax breaks available at virtually every stage of the exploration and extraction process.
According to the most recent study by the Congressional Budget Office, released in 2005, capital investments like oil field leases and drilling equipment are taxed at an effective rate of 9 percent, significantly lower than the overall rate of 25 percent for businesses in general and lower than virtually any other industry.
We’re giving tax breaks to highly profitable companies to do what they would be doing anyway,” said Sima J. Gandhi, a policy analyst at the Center for American Progress, a liberal research organization. “That’s not an incentive; that’s a giveaway.”
Click on the following for more details: Oil Companies Reap Billions From Subsidies - NYTimes.com
The Great Recession at 30 Months - Pew Research Center
based on a Pew Research Center survey of 2,967 adults conducted from May 11 to May 31, 2010, on cellular and landlines telephones and also on a Pew Research analysis of government economic and demographic data.
Great Recession began 30 months ago, they have suffered a spell of unemployment, a cut in pay, a reduction in hours or have become involuntary part-time workers
a new frugality in Americans' spending and borrowing habits; a diminished set of expectations about their retirements and their children's future; and a concern that it will take several years, at a minimum, for their family finances and house values to recover.
This survey is the source of many stories in the media regarding public reaction to the Great Recession, read from the source by clicking on the following: The Great Recession at 30 Months - Pew Research Center
Friday, July 2, 2010
Oil Spill Whoppers | FactCheck.org
We keep track so you don’t have to. Some of the lowlights so far, in no particular order.
- Some Republicans falsely claimed Obama was slowing the cleanup by not waiving the Jones Act, which actually doesn’t apply to the cleanup operations.
- Obama said he issued a six-month moratorium on deepwater drilling in the Gulf. Not quite. Much drilling continues.
- A Republican governor keeps saying the spill is the first big blowout in the Gulf, failing to note a 1979 disaster that continued for 10 months, and numerous smaller blowouts.
- A DNC ad claimed that a GOP lawmaker spoke for his party when he said BP deserves an apology. But that apology had already been rejected by other leading Republicans.
Click on the following for more details: Oil Spill Whoppers | FactCheck.org
Payback Time - Budget in the Red, Illinois Has Stopped Paying Bills - NYTimes.com
Great summary of our situation in Illinois.
California stood more or less unchallenged as a symbol of the fiscal collapse of states during the recession. Now Illinois has shouldered to the fore, as its dysfunctional political class refuses to pay the state’s bills and refuses to take the painful steps — cuts and tax increases — to close a deficit of at least $12 billion, equal to nearly half the state’s budget.
state’s income tax burden is not terribly high — Illinois ranks in the bottom half of states — and its government is not terribly large.
Click on the following for more details: Payback Time - Budget in the Red, Illinois Has Stopped Paying Bills - NYTimes.com
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