Larry Kudlow is a very knowledgeable voice on economic trends and developments. I sure hope his post at The Corner is correct:Investors continue to ignore one of the very brightest spots in the firmament: Namely, the credit freeze is thawing, according to all manner of key interest rates and spreads. In fact, LIBOR is around 1 percent now, back to where it was in the early summer of 2007 before the crunch started. This means that much of the uncertainty about lending, borrowing, investing, and hiring is receding from the market. This is a very positive sign. While retail sales and jobs are lagging indicators, the credit-market improvement is a leading indicator — pointing to recovery in the economy sometime this spring or summer. I’m … [Read more...]
Bill Ritter’s “Hiring Freeze” Doesn’t Include Lobbyists or Potato Inspectors
A few months ago I called out Governor Bill Ritter for his delayed hiring freeze tactic. Well, as the Denver Post reports this morning, that's nothing compared to what's happened since the alleged hiring "freeze" went into effect:A Denver Post review of hundreds of applications for exemptions shows that in three months, Ritter's office approved 326 new hires and promotions — out of 371 requests — that could cost the state more than $12 million. Ritter's rules say the freeze does not apply to health and safety positions, jobs caring for state wards or required by caseload demands, or positions that, unfilled, would disrupt an "essential state function" or present legal liabilities. Among the health care providers and criminal … [Read more...]
Shedding No Tears for the Shane Co. – No Diamond Business Friend of Mine
So the Shane Co. files Chapter 11 bankruptcy. As one not in the habit of frequenting jewelry stores, you might think I'm utterly indifferent. But then you'd see that I'm blogging on the topic, so perhaps you're wondering there must be something prompting me to waste a few minutes. Well, you're right. The lovely Mrs. Virtus and I are here laughing about the story, because we never intend to go back to the Shane Co., Chapter 11 or no. … [Read more...]
Bill Ritter Ginning Up Excuses for His Attack on Taxpayer Protections
Wandering out to the Western Slope on his cross-state jaunt with his U.S. Senate protege Michael Bennet, Governor Bill Ritter yesterday sat down with the editors of the Grand Junction Daily Sentinel. When asked about his reckless anti-TABOR remarks ("the straightjacket") in his State of the State speech, here's reporter Mike Saccone's retelling of how Ritter defended himself:He started by saying that if Colorado has taken all the money it has refunded under TABOR and kept it in a rainy-day fund, Colorado would not have had to make massive budget cuts in the last recession and an estimated $600 million worth of cuts this year. Here's the problem, though. Bill Ritter already chose to pass up a legitimate chance to put money from Referendum … [Read more...]
Affirmative Action for Men Losing Jobs?
Snark of the day: Where's affirmative action for men who are losing jobs at a much faster rate than women? … [Read more...]
Putting State Government’s Checkbook Online Should Take Months, Not Years
I quickly hoorayed last week when Governor Bill Ritter announced his full backing for putting the state's checkbook online. But a follow-up report from Face The State seemed to suggest the process could take a long time:“Putting the budget online will be different because there is too much to put it all,†[state representative Don] Marostica said, adding that legislative staff is working on ways to publish a “simplified†version. While Kennedy was hesitant to commit to a timeline, Marostica said the process could take three years. But - as explained in this iVoices podcast with Sandra Fabry of Americans for Tax Reform - the fact is the federal government has already pioneered this work, along with several other states, and all … [Read more...]
Less than Independent Michael Bennet Invites Fresh, Articulate GOP Opponent
In his Rocky Mountain News column today, Vince Carroll points out that Bill Ritter's new U.S. Senate designate Michael Bennet hasn't shown much in the way of original, independent thought thus far:I've listened to Bennet speak about education issues often enough to appreciate his intelligence and what I sense is an independent mind. And I really didn't expect to see evidence of the latter in these early days. But if he's going to make a case across Colorado for his election in 2010, he'll have to prove he's his own man. And what better way to achieve this than for him to trample on a few of his own party's shibboleths? Once he's been safely sworn in, of course. Looking ahead, Colorado Republicans in 2010 need to rally around a fresh, … [Read more...]
Bon Voyage: Kathleen Parker Set Adrift from All Conservative Moorings?
I have had to defend my critical assessment of a Kathleen Parker post-election column sloppily aimed with disdain at social conservatives. Within that debate, even I have been inclined to see what she wrote as part of an internal squabble within the larger conservative Republican movement. But if Parker's most recent writing is any indication, it would seem she has no real conservative moorings on fiscal issues, either. You simply have to read it all, as no excerpt sufficiently captures the overtones wrapped insider her ambivalent - and sometimes confused - rhetoric. I agree with Michael: Many messengers of the conservative movement are stuck on old themes, when a newly-crafted message is what's needed. However, as Kathleen Parker … [Read more...]
Needed Today: Rossputin’s Explanation of the New Deal’s Ill Economic Effects
Some cliches are just that because they pack so much truth, they become a frequent, handy reference. One of my favorites (originally attributed to conservative thinker George Santayana) is: "Those who cannot remember the past are condemned to repeat it." I can't think of anything more relevant to our current national political debate than this thoughtful and well-documented essay posted by Ross Kaminsky at Politics West: "The New Deal was a raw deal for the American economy". These days, the point can't be hammered home enough. As of yet, I've seen little signs that any significant number of our leaders in Washington - many Republicans and nearly all Democrats - have paid attention to this historical lesson. The ramifications may be … [Read more...]
Congressional Democrats’ Cigarette Tax Hike Could Cost Colorado $24 Million
Too many real policy debates these days get clouded behind the rhetoric of "it's for the children". Sometimes they are also hidden behind a cloud of smoke. Barack Obama and the Democrats in Congress are making a top priority out of reauthorizing the SCHIP program - you know, ostensibly government-mandated health insurance for kids too rich for Medicare but unable to afford decent private coverage. Like most government programs, SCHIP isn't all it's cracked up to be. The Independence Institute's Linda Gorman has one good critique of the program. A popular component of the Democrats' current proposal soon to be before Congress is a 61-cent increase in the excise tax on cigarettes, to raise funds and enrollment in SCHIP. Is it a good … [Read more...]
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