These are classic discussions published back in August 2011

The Jobs Pivot

August 19, 2011
I am frightened that President Obama will keep his word this time, and that he will focus on jobs. That would be horrible for jobs. When a shark decides to focus on a baby seal, that seal is in trouble. When Barack Obama decides to focus on jobs, jobs are in trouble. (Well, non-government, non-union jobs that is). Look at the energy sector. Energy jobs are great private-sector jobs. They spawn incredible economic return. Those jobs enrich people and communities. Compare the economy of Texas to the economy of the United States. Texas, largely because of the energy sector, is adding jobs. The United States is shedding jobs. Surely, someone interested in jobs would be looking at the energy sector. And, that’s part of the problem. President Obama already has taken an interest in the baby seal. Oops, my bad. I meant “the energy sector.” He has taken an interest in the energy sector. Already, the President has shut down new oil... (read more)
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An Idea for Utah Public Education

August 9, 2011
The Trib reports on an idea that Sen. Pat Jones has to increase school funding and shift more decision-making authority and accountability to individual schools (and parents).  She proposes to (1) do away with the state tax exemption for dependents and (2) send the increased revenues directly to the schools (bypassing the districts). For several years, Sen. Jones has worked unsuccessfully to do away with the dependent exemption. The new spin on the idea is to send the money directly to the schools. Intriguing. First, regarding the dependent exemption, I ‘d be shocked, if the tax increase were to pass (even with the new twist of local control). Taxes in Utah already are too high. And, a huge majority of my constituents (and I’d bet a huge majority of Utahns) don’t want their taxes raised. With everything that is going on nationally, that’s especially true now. But, if Sen. Jones is willing to work with more fiscally-conservative members, there are some elements of... (read more)
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Downgrading the Credit Rating of the US: Why, and Where Now?

August 6, 2011
Based on early commentary about S&P’s downgrade of the U.S.’s credit rating, one thing is clear: people struggle to interpret source data. Or, maybe, they would rather ignore source data, to make whatever point they want. S&P was clear on its reasoning for the downgrade. The ratio of public debt to Gross Domestic Product (GDP) is too high, and, unlike other AAA-rated countries, it looks like that ratio will increase in the United States. Take 5 minutes and read it (7 pages). The report discusses taxes and government spending (highlighting entitlements). It discusses political dysfunction. But, those discussions are to bolster S&P’s analysis that the U.S. will not reduce the ratio of public debt v. GDP. Politicians and the Media are arguing that the debt-ceiling resolution needed more taxes or needed more cuts. That simply restates the ways the ratio can be reduced. To reduce the ratio, we can tax more. Or, we can spend less. Or, we can do a mix of... (read more)
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