Detroit — A widespread power outage Tuesday that caused evacuations of buildings throughout downtown is “another reminder of how much work we still have to do to rebuild the city,” Mayor Mike Duggan said. Duggan, speaking at an afternoon press conference, said Detroit is in the early stages of a four-year, $200 million plan to…
Category: Austerity
News of the unsurprising: tax cuts lead to budget deficits
November 18, 2014 – RALEIGH, N.C. North Carolina lawmakers are likely enjoying some downtime after the legislative session and midterm election, but experts predict a tough session waiting for them on their return to Raleigh. A report from the Office of the State Controller indicates tax revenues are down by almost $400 million compared with this same…
Kansas cuts taxes, guess what happens next?
There may be even bigger challenges coming. In addition to the likelihood the state will face another unpleasant revenue surprise in the spring, a pending court decision could obligate the legislature to add hundreds of millions of dollars a year to state aid to school districts. And bond rating agencies, which already downgraded the state’s…
IMF critiqued internally for austerity response
BY ANNA YUKHANANOVWASHINGTON Tue Nov 4, 2014 Reuters – The International Monetary Fund ignored its own research and pushed too early for richer countries to trim budgets after the global financial crisis, the IMFs internal auditor said on Tuesday. The Washington-based multilateral lender, concerned about high debt levels and large fiscal deficits, urged countries like…
We’re not in Kansas anymore – or are we?
Great clip from the Daily Show about tax cut strategies gone wrong, prompting Kansas Republicans to endorse the Democratic opponent of Sam Brownback, the current Republican Governor. The Daily Show Get More: Daily Show Full Episodes,Indecision Political Humor,The Daily Show on Facebook