Sunacom - Sen. Odell interview

In the current Sunacom.com, Senator Odell writes:

'New Hampshire fortunately has a requirement that our biennial budget must be balanced.' '...if all goes well, we will have a compromise budget that can be accepted by the House and Senate.'

'[Governor Hassan] has not said where she stands on an increase in the gas tax to fund construction and maintenance of roads and bridges.'

'Most pundits think the Governor will favor the licensing of one casino.' 'The House under Democrat and Republican leadership has always turned down bills to create casinos.'

'The economy is anemic and will not produce large increases in funds from current revenue streams.' 

'Without doing anything, the increased revenue from growth, $90 million, is halved or more by acts of the previous legislature.'

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  Sunacom.com is the only non-commercial, community service, online source for local town reporting, news and information for the Lake Sunapee region of New Hampshire... since July, 2008.

ALG urges House to tie debt ceiling to balanced budget, 'Full Faith and Credit Act'

Jan. 17, 2013, Fairfax, VA—Americans for Limited Government President Bill Wilson today joined with 38 other free market and limited government organizations in urging action by the House to tie a vote to increase the $16.394 trillion debt ceiling to a 10-year pathway to a balanced budget without any tax increases and passage of the "Full Faith and Credit Act."

"With the $16.4 trillion national debt growing disproportionately larger than the economy, the American people are rapidly running out of time to get Washington, D.C.'s spending and borrowing addiction under control," said Wilson.

Wilson added that tying a balanced budget and the "Full Faith Credit Act" to the vote was "absolutely necessary to take President Obama's threat of default off the table. Never again should any president be allowed to demand a blank check from Congress by threatening default, when there is more than enough revenue to pay our creditors on time and in full."

The "Full Faith and Credit Act" would prioritize payments on interest, Social Security, Medicare, defense, and veterans' benefits out of revenue in the event the debt ceiling is reached.

Out of the $2.8 trillion of annual revenue the White House expects in 2013, only about $360 billion, or $30 billion monthly, will go to paying gross interest on the debt.

"That means even if the debt ceiling was reached, the government could still refinance existing debt up to the limit, and would have ample revenue to pay interest out. So, there would be no need to default," Wilson explained.

"There would even be enough revenue to pay out Social Security ($820 billion), Medicare ($564 billion), defense ($700 billion), and veterans' benefits ($79.5 billion). And if the White House's 2013 revenue estimate is anywhere near correct, there could be as much as $600 billion left over to pay for other essential items," Wilson added.

The August 2011 increase of the debt ceiling had been accompanied by $65 billion of sequestration cuts, which Wilson said needed to be kept in place.

Congressional Democrats, along with the Obama Administration, have threatened to eliminate the national debt ceiling from law, which would allow the White House to borrow at will without any congressional authorization.

"This could be the last chance House Republicans have to use the debt ceiling to achieve a balanced budget," Wilson noted, concluding, "It is time to stop stealing from our children and grandchildren."

To view online: http://getliberty.org/alg-urges-house-to-tie-debt-ceiling-to-balanced-budget-full-faith-and-credit-act/

Attachments:

Memo for the Movement, "Congress must pass a 10-year pathway to balance to raise debt limit," Jan. 17, 2013 at http://netrightdaily.com/2013/01/memo-for-the-movement-congress-must-pass-a-10-year-pathway-to-balance-to-raise-debt-limit/

"Obama's default threat bluff," by ALG President Bill Wilson, Jan.15, 2013 at http://netrightdaily.com/2013/01/obamas-default-threat-bluff/

"Why the debt ceiling is the only way," by ALG Senior Editor Robert Romano, Jan. 17, 2013 at http://netrightdaily.com/2013/01/why-the-debt-ceiling-is-the-only-way/

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Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please call us at 703-383-0880 or visit our website at www.GetLiberty.org.

Josiah Bartlett Center - 'Balanced' Budgets explained, Foreclosures, and the Electoral College

How a 'Balanced' State Budget
Created an $800 Million Deficit

Starting in 2008, the governor and Legislature adopted a series of unusual practices that obscured spending decisions. As a result, the two gubernatorial candidates this year fight over what the facts really are... Click here to keep reading.

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Crash Course at the Electoral College

Grant Bosse and Paul Westcott look behind the numbers in the last ten days of the 2012 Presidential Election, including which swing states are in play, how early voting could impact the race, whether the “Incumbent Rule” actually exists, and what happens in the case of an Electoral College tie... Click here to Listen

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Was the Budget Really Balanced?

Charlie Arlinghaus and Jack Heath discuss a key disagreement in the 2012 NH Governor’s Race, the 2009 budget that Maggie Hassan says was balanced, and Ovide Lamontagne says led to an $800 million deficit. Click here to listen.

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NH Foreclosures Tumble in September

Continues a Downward Trend since April

According to the foreclosure tracking firm Realtytrac, the number foreclosure filings in New Hampshire fell sharply to 423.  240 are headed for the auction block, while the balance were taken over by the lenders. With only 423 filings statewide, September saw the fewest monthly foreclosures in the 12 months, continuing the general downward trend that began in April. Click here to keep reading.

Josiah Bartlett Center - Balanced Budgets, State Agency Budget Requests, and Unemployment

Weekly Update from the
Josiah Bartlett Center

Keeping you up to date on our latest research
on the issues impacting New Hampshire

How a Balanced Budget Created A Deficit

As part of their gubernatorial campaigns, Democrat Maggie Hassan and Republican Ovide Lamontagne have traded charges over their approaches to fiscal policy and over the recent history of the state budget. Hassan claims to have balanced the budget and cut spending as Democrat Majority Leader while Lamontagne claims she created a deficit, raised taxes, and increased spending.

The budget passed in June, 2009 for fiscal years 2010 and 2011 paradoxically was both balanced and created a deficit but it did not reduce spending even a little bit. Click here to keep reading.

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WGIR Podcast

State Agencies Looking for 19% Spending Increase

Grant Bosse joins Paul Westcott to discuss this month’s budget requests from New Hampshire agencies, asking for a 19% spending increase. Click here to keep reading

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Agencies Seek 19% Budget Increase

Christmas in October?

State agencies are hoping for a 19% increase in next year’s budget, according to the Agency Budget Submissions sent to the Governor’s Office this month. Click here to keep reading.

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Three Takeaways from the Sept Jobs Report

Surprising Drop to 7.8%

Last week the Bureau of Labor and Statistics released the September Jobs Report, which saw the unemployment rate drop to 7.8%. Like all of our previous Monthly Jobs Report analyses, we take a closer look at the data beyond the unemployment rate.

Click here to keep reading.

RGA: Maggie Hassan Balanced the Budget on the Backs of Taxpayers

The Republican Governors Association launched a new ad focused on the tax and fee hikes Maggie Hassan pushed to balance New Hampshire’s budget. Visit www.HassanTaxHikes.com to watch the ad.

“Maggie Hassan likes to talk about balancing the state budget, but she rarely tells the whole story,” said RGA communications director Mike Schrimpf. “The truth is Maggie Hassan used the budget bill to fight for 33 tax and fee hikes in the middle of the worst economy since the Great Depression, even increasing taxes on small businesses struggling to survive.”

“Maggie Hassan isn’t being completely honest with the voters about what she would do as governor either,” Schrimpf continued. “Despite raising taxes and fees by $300 million the last time she held office, Maggie Hassan is eyeing more tax hikes.”

“Maggie Hassan’s record exposes her campaign rhetoric as nothing more than political posturing. The fact is Maggie Hassan believes in higher taxes,” Schrimpf concluded.