About: Mike Sylvester
- sylvester@fortwaynepolitics.com
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Posts by Mike Sylvester:
What is Mr. Montagano thinking?
10/21/08 @ 10:29 am
As anyone reading this blog knows I will not be voting for Mark Souder in the upcoming 3rd Congressional race. I will be voting for Libertarian BIll Larsen.
That being said, the Democratic candidate, Mike Montagano, does not seem to have a strong grasp of politics. Please read this piece in a local newspaper.
Please realize that this bill as passed will increase the National Debt; possibly by as much as 850 billion dollars. It likely will increase the debt by at least a couple of hundred billion dollars. The bill also gives the Secretary of the Treasury unprecendented powers and authority to spend 700 billion dollars of tax payer money. This is a very big deal.
Mark Souder voted the wrong way on this bill. He voted in favor of socialism.
Mr. Montagano has backed away from the bill and does not want to second guess Mark Souder.
Why not?
Mark Souder voted wrong on this bill and should lose his seat in Congress.
Mike Sylvester
Filed Under 2008 National Elections, Local Politics, State Politics | 3 Comments
Proposed Budget cuts for City of Fort Wayne
10/18/08 @ 1:58 pm
I would like to start this post by thanking Jeff Pruitt for taking the time to attend these meetings.
Next I would like to thank our current City Council for their views on the budget; I feel they have been responsible and I am impressed that they want the Mayor to cut 4.5 million from the current budget request. I think 4.5 million dollars is appropriate and I am glad that our City Council has recommended this amount be cut from the budget.
I am disappointed in the Mayor’s office. The budget they proposed is completely unacceptable. It forces us to cut about 9% from the budget next year or to increase the county income tax significantly. I am also disappointed that the Mayor’s office waited until October to submit a budget; the budget should have been submitted months ago.
Filed Under City Council, Featured | 4 Comments
A couple of bad ideas from Barack Obama in the last couple of days
10/16/08 @ 4:29 am
Barack Obama has made a lot of policy proposals in the last few days.
I want to focus on two that make no sense to me; both of which I feel are terrible ideas.
Filed Under 2008 National Elections, National Politics | 2 Comments
What are the Democrats doing in DC?
10/15/08 @ 11:24 pm
I am sure most of you remember how the Democratic Party ran on a National platform of fiscal responsibility in 2006. They promised to restore fiscal discipline in Washington DC and reign in the out of control spending in Washington DC. The Democrats have been in control of Congress for the last two years…
Well, they lied.
Filed Under 2008 National Elections, National Politics | Leave a Comment
Major News in Indiana’s 3rd District Congressional Race
10/14/08 @ 3:37 pm
Fort Wayne Observed has a post up that deserves your attention!
Per Fort Wayne Observed the DCCC (Democratic Congressional Campaign Committee) has purchased $487,000 of television advertising to support Democratic candidate Michael Montagano.
You may also be interested in reading a post from our own Jeff Pruitt about his feelings that the DCCC would be supporting Michael Montagano financially.
It will be interesting to see how the Republican Party responds.
I think Republican Mark Souder will be re-elected; however, I think it will be by a very small margin.
Mike Sylvester
Filed Under 2008 National Elections, Featured, National Politics | 7 Comments
Obama’s newest tax ideas
10/13/08 @ 7:28 pm
Mr. Obama is at it again. He is proposing another set of proposals that are intended to benefit certain Americans.
Please read this article in the Wall Street Journal.
As most of you know I do not like the fact that an ever growing number of Americans are subsidized through the Federal income tax laws. These Americans receive more from the Federal Government in the form of income tax “refunds” then they pay into the Federal Government in income taxes. In my opinion this is just another form of welfare.
Filed Under 2008 National Elections, National Politics | 6 Comments
Great post on another accountant’s blog
10/13/08 @ 6:46 pm
You really should read the post.
It seems that more and more often the laws are written to benefit those people who spend more money then they have and to penalize those people who live their lives in a frugal and fiscally responisble manner.
Mike Sylvester
Filed Under Uncategorized | 1 Comment
A little more about “sub-prime” loans and the recent economic “crisis”
10/12/08 @ 7:56 am
Much of the current financial “crisis” can be blamed on the explosion on sub-prime loans. Sub-prime loans are those loans made to people who have a higher risk of default than those Americans who are considered “prime” borrowers.
Consider these facts:
- In 1994 5% of the home loans in the US were “sub-prime” loans.
- This rose to 9% in 1996.
- It rose to 13% in 1999.
- It rose to 15% in 2001.
- It rose to 20% at its peak in 2006.
Filed Under National Politics | 13 Comments
Consumer credit and its availability in Fort Wayne today
10/11/08 @ 7:55 pm
When you borrow money your credit score (FICO score) is extremely important. Based on your FICO score lenders are able to assess the risk of default on the loan.
FICO scores range from 300 - 850. The higher the score the more “creditworthy” you are considered.
Today in America the median credit score is 723.
Filed Under Featured, Local Politics | Leave a Comment
Debt Nation, post two
10/11/08 @ 7:04 pm
This is the second post in a ten part series on the excessive debt our nation has.
The first economic problem I want to discuss is the amount of money the Federal Government owes on a cash basis.
The media and the Federal government like to talk about the National Debt on a cash basis rather than an accrual basis. Cash basis accounting tracks the actual money spent and does not take into account future liabilities. Small businesses often use the cash basis of accounting; however, the Federal Government forces most larger businesses to use the accrual basis of accounting.
On a cash basis of accounting the current Federal debt is just over 10.2 trillion dollars. You can see the exact Federal debt at the below link:
http://www.brillig.com/debt_clock/
