Thursday, December 2, 2010

Nevada Republicans Devastate State Economy; GOP Blocks School Meals; while they Inherit Improving Jobs Market.

The Republican pledge to never raise taxes will finally hit the wall in 2011. That should be fun to watch. Here are some other fun things to keep an eye on:

(AP) - A panel of financial experts on Wednesday projected Nevada revenues for the upcoming budget cycle at $5.3 billion, representing a $1.1 billion decrease … Republican Gov.-elect Brian Sandoval has said he won't raise taxes and will allow temporary tax hikes imposed two years ago to expire. He reiterated his stance after the forum made its projections, saying state government will need to close the gap with reductions.
(AP) - House Republicans have temporarily blocked legislation to feed school meals to thousands more hungry children. Republicans used a procedural maneuver Wednesday to try to amend the $4.5 billion bill … the GOP amendment, which would have required background checks for child care workers, was an effort to kill the bill and delayed a final vote on the legislation rather than vote on the amendment.
Democrats will give up the moral high ground, abandon their base, and make the Republicans appear right (even though they’re wrong) on the issue of giving wealthy people another tax cut in a time of war. Whether you believe letting the Bush tax cuts expire would be a tax increase or not, we still have to borrow an additional $700 billion to pay for them.

And just in time for the Republican House to take credit for saving the country, this news will make the GOP look good when they take credit for it later this spring. Just wait and see...

(AP) - The economy is showing new life in the final months of the year. Factories are busier, construction spending is up, and auto sales are rising. And on Wednesday the stock market had its best day since September after a report that the private sector hired the most workers in three years. Investors were mostly responding to strong manufacturing data out of China and a report showing that small U.S. companies hired the most workers in three years. ADP Employer Services said employment at private companies jumped by 93,000 in November, the largest increase since November 2007 - right before the recession began.

Small businesses, which have struggled to get credit since the recession, had the biggest gains.

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