About: Mike Sylvester
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Posts by Mike Sylvester:
National Healthcare “Reform”
3/10/10 @ 7:25 pm
This topic was discussed a lot on this blog last year.
Last year I predicted on this blog that a major reform policy would NOT pass by 12/31/09.
Kevin Knuth and Jeff Pruitt both disagreed with me. Both felt that major health care reform legislation would be law by 12/31/09.
Well, I am going to have to say “I told you so.”
I did not think the Demcorats would be able to pass this legisialtion even with their large majorities for a wide variety of reasons.
Kevin and Jeff why do you think the Democrats failed to implement their signature legislation last year?
Mike
Filed Under 2010 National Elections, Featured | 13 Comments
2010 Census stupidity
3/8/10 @ 11:28 pm
I got a letter at my house this evening from the US Department of Commerce. The text of this letter is below:
Dear Resident:
About one week from now you will receive a 2010 Census form in the mail. When yuo receive your form, please fill it out and mail it in promptly.
Your response is important . Results from the 2010 Census will be used to help each community get its fair share of government funds for highways, schools, health facilities, and many other programs you and your neighbors need. Without a complete, accurate census, your community may ot receive its fair share.
What a waste of taxpayer dollars. Why do they need to send me a “warning letter” telling me that I will get a form to fill out next week?
Mike
Filed Under National Politics | 8 Comments
Teacher salary comparison
3/7/10 @ 9:16 pm
The local school districts have to cut costs; due to this the pay and benefits of local teachers has underwent a lot of scrutiny.
I have decided to compare my wife and her earnings to that of the average local teacher. I think this comparison will surprise many of you!
Filed Under Featured, Local Politics, National Politics, State Politics | 28 Comments
Federal Wages and benefits need to be cut
3/6/10 @ 10:58 am
USA today has a must read article that discusses Federal pay as compared to private sector pay.
Our Federal Government is spending an unsustainable amount of money each and every year. This is evidenced by the fact that the Congressional Budget Office is currently projecting the the Federal Government will spend 9.7 trillion dollars more than it brings in over the next ten years. In other words the National Debt will increase by 9.7 trillion dollars over the next decade!
Clearly this is unsustainable and members of both political parties have been clamoring about fiscal responsibility for as long as I can remember. That being said; when each Party is in the majority they rapidly forget their campaign promises and start spending money to ensure their re-election.
The USA Today article referenced above is an excellent article and highlights the problem.
USA today analyzed a wide array of Federal jobs and those jobs with an equivalent in the private sector were analyzed.
When the comparable jobs are analyzed Federal workers make 12.7% more than their private sector counterparts. Worse yet is when benefits are analyzed.
Over the entire private sector the average benefits paid per worker in 2008 was $9882. The average Federal worker’s benefits were $40,785. In 2008 the average Federal worker’s benefits were worth 4.13 times the average private sector worker’s benefits.
This unfairness needs to be addressed and it needs to be addressed in a hurry. That being said; it will not be addressed because the Democrats are beholden to the Federal workers unions.
The statisticyou must take from this analysis is that in 2008 the average Federal worker’s compensation and benefits cost the taxpayers of this country almost $110,000 each. This does not include bonuses, per diem, etc.
This is clearly unsustainable.
Unfortunately the public sector unions have control of the National Democratic Party andthey will fight against the needed reforms.
I think Federal workers should make the same amount of compensation in total salary and benefits as those people in the private sector.
Mike Sylvester
Filed Under 2010 National Elections, Featured | 3 Comments
The US Senate is full of hypocrites
2/24/10 @ 10:06 pm
I am sick and tired of hearing about reconciliation and the “nuclear option.”
Both Democrats and Republicans use the reconciliation process in the US Senate when they are in the majority. Both Democrats and Republicans whine and cry when they are in the minority and the other major political party uses reconciliation. It is pathetic and I am sick of it.
The US Senate is dysfunctional.
Listening to conservative talk radio today was educational; at least as far as illustrating how the Democrats in the Senate are hypocrites. Today I heard soundbites from 2005 including the current President of the US, the current Vice President of the US, and the Democrat in charge of the US Senate rail against using reconciliation. Now that those same people are in the majority party they have “changed their minds.”
Don’t think the Republicans are any better on this issue. They do the exact same thing when “the shoe is on the other foot.”
There are so many hypocrites in the US Senate that we realistically need to throw almost all of them out and start over.
Mike Sylvester
Filed Under 2010 National Elections, National Politics | 4 Comments
Illinois is completely screwed
2/22/10 @ 10:53 pm
There has been a great deal of media attention concerning the fiscal crisis in many states including California, New York, New Jersey, etc. That being said Illinois is also in serious trouble.
Illinois has an annual budget of around 53 billion dollars. They are looking at an annual deficit of about 12.8 billion dollars. They are borrowing one dollar for every three dollars they spend. This is completely insane and obviously unsustainable.
Worse yet the state of Illinois has seriously underfunded their public pension plans. Per a recent report the State of Illinois public pension funds are only 54% funded.
Worse yet the City of Chicago, the public transit system in Chicago, and many other large organizations in the state of Illinois are completely broke.
Unless Illinois enters an economic period with massive growth there is no way that the State can stay solvent without both large tax increases and large spending cuts.
This situation is going to be interesting to watch and it is going to be extremely ugly. I am glad I do not live in Illinois.
Mike Sylvester
Filed Under 2010 National Elections, National Politics | Leave a Comment
The next few years
2/22/10 @ 10:33 pm
The last few years have been grim. Wages in the US have stagnated, the stock market has dropped, unemployment has increased (likely permanently in my opinion), and the amount of debt accumulated by our Government has skyrocketed.
I also think the next few years will be grim. I have to admit that the more I have studied the current economic conditions the more grim my outlook for the future has become.
I think that the following is likely to happen over the next few years:
1. The United States Government will continue to accumulate a staggering amount of debt. This debt will eventually cause the dollar to drop to levels not seen in many decades.
2. Many states and local Government entities (likely most) will continue to accumulate staggering amounts of debt. This will cause these Government entities to have to raise taxes and/or drastically cut spending.
3. The residential real estate market has been pummelled. I hope that the worst is over; however, there are millions of homes that will go into foreclosure in the next couple of years and this will ensure that the real estate market cannot recover for years.
4. The Commercial real estate market has also been pummelled. Unlike residential loans Commercial loans come up for renewal every five years. Every five years the banks re-evaluate the loans and can either call the loans or continue them. The interest rates on these loans generally “float” every five years. Quite a few of these loans are going to be called and this is going to ensure that the commercial real estate market cannot recover in the next few years. The vacancy rates and rents from commercial properties has plummeted and this will cause many commercial property owners to default on their loans.
5. I believe that the unemployment rate will be between 8% and 12% over the next couple of years. I think it is likely to hover between 9% and 11%. Many of the lost jobs are in the banking, real estate, and construction fields. I do not beleive these fields will return to pre recession employment levels.
6. Public sector pension funds are woefully underfunded. Public sector pension funds are likely underfunded by well over two trillion dollars. This is going to cause a lot of painful decisions to be made in the next few years.
I believe that there are several things that prudent citizens can do to “weather the storm:”
- Create a family budget. Ensure the the budget is written and that you accurately track your expenses and income.
- Build up a cash reserve that is 3-6 months worth of family expenses.
- Pay off your debt aggressively and do not incur additional debt. I truly feel that interest rates must rise and that wise consumers will pay off their debt.
- Maintain and if possible increase your job skills and your marketability. This is critical and most Americans completely ignore this.
- Start saving for retirement. Make this part of your budget.
- Work as much as you can and make as much money as you can. People often focus entirely on what expenses they can cut; however, the income side of the equation is equally important.
- Cut expenses. There are few Americans who cannot cut expenses. It is incredible how many Americans think that multiple cell phones, big screen TV’s, cable TV subscriptions, and eating out are “necessities.” It is amazing and pathetic.
Believe me I hope that I am wrong and the we enter a long period of stable economic growth; however, I truly do not think that this will happen.
Mike
Filed Under Featured, Uncategorized | 7 Comments
Senator Bayh
2/16/10 @ 5:47 pm
Senator Evan Bayh, in a news conference just before the filing deadline to run in the primary, announced his retirment from the US Senate.
Reaction from Indiana Democrats has been interesting to say the least. Senator Bayh’s announcement appears to be a shock to the entire Democratic establishment. Senator Bayh kept his retirement secret and shocked even his own campaign manager.
Nadia Bashir called me today and I did a short interview with her in my office; part of which will be aired on WFFT-TV tonight on their 10 PM news on channel 55.
I have several observations about this retirement:
1. His last minute retirement is a slap in the face to The Indiana Democratic Party and to Indiana voters. Now the Democrats will have to appoint a candidate and there will not be a Demcoratic primary. That is shameful.
2. I think it is very likely that Evan Bayh would have won re-election. I personally think the only Indiana Republican that could have beat Senator Bayh was Mike Pence. Unfortunately Mike Pence decided not to challenge Bayh.
3. I now think the Republicans will win a second Indiana Senate seat in November 2010.
4. I think Bayh’s “retirement” will serve to energize the Indiana Republican Party and will tend to hurt the morale of the Indiana Democratic Party. I think whoever wins the Republican Primary for US Senate will win in November fairly easily.
Mike Sylvester
Filed Under 2010 National Elections, Featured, Local Politics, National Politics, State Politics | 3 Comments
County Government avoids mistake
2/13/10 @ 10:49 am
On this blog we discussed the proposed bribe incentive that some County officials were considering paying to GM employees who chose to buy a house in Allen County.
This was a terrible idea…
Luckily the County had a realistic financial impact study done and has decided not to pursue this terrible idea.
Now if we can just get the Henry Administration and Congress to start using realistic financial impact studies…
Mike Sylvester
Filed Under Featured, Local Politics, Uncategorized | Leave a Comment
2010 Senate race in Indiana
2/9/10 @ 7:56 pm
I do not want to see either Indiana Senator re-elected when they next run for office. Neither has impressed me and both often vote in favor of programs and policies that I oppose.
Democratic Senator Evan Bayh is the incumbent Democrat that is up for re-election in 2010. I cannot imagine very many circumstances where I could possibly vote for him. He is not an effective Senator and I am highly offended that his wife; who is completely unqualified to sit on any large corporate board, currently sits on several corporate boards just because her husband is a US Senator. That is wrong on many levels and I think Indiana voters should be outraged by this.
I have yet to decide which Republican I will support in the primary; however, it is likely that I will support whichever Republican manages to win the Republican primary.
With that being said I just do not understand the media’s interest in the likely candidacy of former Senator Coates. Former Senator Coats was a reasonably good Senator, he is a reasonably conservative Republican, and he and I actually lived in the same neighborhood for several years (Walden). He lived around the corner from my parents house on Vance and lived maybe ten houses away from my family when I was enrolled in FWCS.
Senator Coats moved away from Indiana to Virginia where he has been a lobbyist for most of the last twelve years.
Why would any Indiana Republican be excited about electing a DC lobbyist to the US Senate who has not lived in this state for the last twelve years?
Seriously, are any of the readers of this blog excited about a Coates candidacy for US Senate?
If so, why are you excited?
The only reason I can think that anyone would be excited is that they think former Senator Coates could win the race…
I was excited when I thought Mike Pence might run. Mike Pence is an awesome Republican who I wholeheartedly support.
Mike Sylvester
