Obama To Announce New Steps To Get Veterans Back To Work

Today the president will announce new steps aimed at helping the nation’s one million unemployed veterans get back to work. In a speech at the Washington Navy Yard, the president will challenge the private sector to hire 100,000 veterans or their spouses by the end of 2013 and will propose extending tax credits for wounded warriors and service members returning from combat.

“The president feels that our veterans who have served the country, put their lives on the line and are coming into a difficult labor market, deserve all the support we as a country can give them to find new careers, new private sector job opportunities that will allow them to have economic security for themselves and their families,” an administration official said.

The president will advocate for a “Returning Heroes Tax Credit,” which would offer participating companies a $2,400 tax credit for hiring short-term unemployed veterans. The White House would also offer additional incentives of $4,800 to companies hiring service members who have faced unemployment for six months or longer.

“This is not a tax credit that we believe necessarily has to be continued indefinitely, but we believe that with the significant number of veterans entering the workforce at a time of significant long-term unemployment as our nation is recovering from the worst recession since the Great Depression, that this is both appropriate and fair and something the American people will strongly support,” the official said.

The president will also propose continuing an existing tax credit for firms that hire veterans with disabilities and increasing the credit to companies that hire wounded warriors who have faced long-term unemployment. “We believe that this is right from an economic point of view, right from a values point of view, right in terms of honoring the brave men and women who have put their lives on the line for our country and have already sacrificed so much,” the administration official said.

In addition to tax incentives, the president will float the idea of a “reverse bootcamp” to help veterans transition back into the workforce. The idea is just one concept that will be considered by a new task force working to ensure the career readiness of veterans.

The bootcamp would be an extended transition period on the back end of service where members would receive counseling, learn more about the benefits available to them, and pursue job training opportunities.

News Link:

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Gambling corruption trial: Jury could get case today

Following a colorful and emo­tional day of closing arguments Thursday, the judge presiding over a federal corruption case expects to conclude arguments this morn­ing and allow the jury to begin de­liberating by 1 p.m.

Attorneys for eight of the nine defendants have concluded their closing arguments, with Susan James set to deliver her arguments on behalf of Country Crossing spokesman Jay Walker at 8 a.m. She will have an hour.

Following James, prosecutors will have almost two hours to con­clude their closing arguments.

U.S. District Judge Myron Thompson will then give the jury its instructions, which could be lengthy with more than 35 counts and nine defendants, and said he hopes the jury will begin deliberat­ing by no later than 1 p.m.

Closing arguments in the case, which began in early June, started Wednesday.

James will follow Ron Wise, at­torney for former state Sen. Jim Preuitt of Talladega, who talked Thursday about lobby­ists -- who pleaded guilty and are cooperating with the prosecution -- playing on the senator's emotions after the suicide of his grandson.

She will also follow Jim Parkman, attorney for state Sen. Harri Anne Smith, who referred to "American Idol," Scooby-Doo and Seinfeld in his colorful closing argu­ment, one that led Thompson to threaten to clear the courtroom if spectators didn't stifle their laughter at the attorney's sarcasm and stinging statements.

Attorneys for Sen. Quinton Ross, former Sen. Larry Means, and legislative ana-
lyst and attorney Ray Crosby also delivered their closing arguments Thursday.

The other defendants are VictoryLand owner Milton McGregor and two of his lob­byists, Tom Coker and Bob Geddie.

The nine defendants are accused of participating in a conspiracy in which casino owners and their lobbyists bribed state lawmakers to pass gambling legislation.

Country Crossing develop­er Ronnie Gilley and two of his lobbyists, Jarrod Massey and Jennifer Pouncy, have already pleaded guilty in the case.
No respect

Parkman said the prosecu­tion's case is based on liars, thieves, con-men, convicted felons, egomaniacs, and "people that have no respect for women, people that have no respect for African-Amer­icans."

News Link:

http://www.montgomeryadvertiser.com

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Ripples from Central Falls bankruptcy could harm whole state, experts say

In the city once known as “Chocolateville” because it attracted one of America’s first chocolate factories, the nonprofit Confectioners Mill Preservation Society and the family behind Mars chocolate bars considered investing millions of dollars in Central Falls.

They wanted to build a replica of the original chocolate mill and create a museum. But those plans are now on the back burner because of fiscal woes at the city, state and national levels.

And now that Central Falls has filed for bankruptcy, some economic-development experts and business leaders say the latest news weakens Rhode Island’s chances for jump-starting its economy and attracting out-of-state investments.

“The real problem is the message it sends for Rhode Island, which is struggling, right now, to be an attractive place for investment,” said Robert D. Atkinson, who was the first executive director, in 1996, of what was then the Rhode Island Economic Policy Council.

In a state they say is recognized for high unemployment, high taxes and a difficult business climate, several former directors of the state Economic Development Corporation say they’ve watched local municipalities mismanage finances for years.

“I had said that things have to get worse before they can get better and, hopefully, this is a wake-up call,” said Michael McMahon, a former EDC executive director and now managing director of a private equity firm in New York.

But with other towns and cities throughout Rhode Island struggling with the same unfunded-pension liabilities that helped lead to Central Falls’ financial downfall, this first municipal bankruptcy in the state may be a harbinger of more to come, says Richard C. Reed, a former deputy director of the EDC.

“Central Falls may well be the canary in the coal mine for Rhode Island,” Reed said.

But even worse, the city may be among the first of many financially troubled municipalities around the country to file for bankruptcy.

“It creates uncertainty, and markets don’t like uncertainty,” he said.

Companies that might have considered moving to Rhode Island may now reach the conclusion that promises from municipalities about taxes and services probably won’t be kept, said Atkinson, now president of the Information Technology and Innovation Foundation in Washington, D.C.

And yet, others remain optimistic that the bankruptcy filing sends a message that Central Falls is working to get its finances in order.

“We are talking about shoring up the city’s finances, which were really dysfunctional and really needed to be restructured,” said Edinaldo Tebaldi, assistant economics professor at Bryant University. “The way the city was being run at this point was a lose-lose situation.”

Mark Higgins, dean of the College of Business Administration at the University of Rhode Island, says the impact on local businesses will become clearer once the state-appointed receiver presents his plan for how the city will work its way out of bankruptcy.

But for Rhode Island businesses farther away, Higgins doesn’t see Central Falls’ troubles having much impact.

“I don’t think there’s any impact on a business in Narragansett,” he said.

The confectioners society decided in May that 2011 was not the right time for a project of its scope, said Robert D. Billington, president of the Blackstone Valley Tourism Council. The council is now working on a more modest proposal to create a small park overlooking the site.

“The Blackstone Valley has been working on developing itself as a destination for 25 years now,” Billington said. “You take one step forward, and then maybe one step back. This is one of those times that makes it more difficult.”

But he said he’s worried more about Central Falls’ reputation among Rhode Islanders than out-of-state visitors, who don’t really care about a city’s financial problems.

“If Rhode Islanders feel negative toward the Blackstone region, that’s harder for me to overcome,” he said.

In neighboring Cumberland, the CEO and president of Hope Global worries about her employees. Cheryl Merchant says many of the textile company’s 250 to 275 employees live in Central Falls. If municipal services disappear, she worries some of her workers will leave the state.

“If they move, where do they move to?” she said. “We have a very stable work force, a very loyal and hard-working team.... I don’t think things like this will do us any good.”

She’s also concerned about the state’s business reputation.

“I truly see this rippling all through the state.... It becomes our reputation,” she said. “We do business internationally, and people always ask ‘Why are you in Rhode Island’ and ‘What’s going on there?’ Stability is a huge concern for everyone. Being in a state that’s unstable is not good.”

Cities go bankrupt for two reasons, Atkinson said: their underlying economics are not strong, or they have high levels of inefficiency or ineptitude.

He thinks both are true here in Rhode Island.

“And now, the chickens are coming home to roost,” he said. “I think it sends the message to companies that Central Falls may not be an anomaly. It’s not one city. This is an endemic problem to the state.” 

News Link:

http://www.projo.com

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Inclusion in Iowa GOP debate will be finalized Aug. 9

Fox News officials have rejected Iowa GOP officials’ recommendation to include all nine presidential candidates on the straw poll ballot in the lineup for the Aug. 11 Iowa debate.

The final rules say the participants must have an official presidential campaign or exploratory committee, meet all constitutional requirements, and an average of at least one percent in five national polls.

That means several candidates – Mitt Romney, Michele Bachmann, Tim Pawlenty, Ron Paul, Herman Cain, Newt Gingrich, Rick Santorum and Jon Huntsman – will likely qualify for the debate.

But it could leave out Thaddeus McCotter, who is the most recent to enter the race and isn’t registering on some public opinion polls yet.

The deadline for meeting the established criteria for participation is 4 p.m. on Tuesday, Aug. 9.

Rules set by the Republican Party of Iowa’s central committee, which organizes the Aug. 13 straw poll, guarantee that any candidate who pays the $15,000 minimum for a tent space lands on the ballot.

The committee voted unanimously last month to include everyone listed on the ballot in the debate. But final rules provided by Iowa GOP officials show that idea didn’t make it onto the list.

Fox News is co-sponsoring the debate with the Iowa GOP and the Washington Examiner newspaper.

“The barriers for entry are very low by design to make sure an inclusive list of candidates is featured on stage,” said Casey Mills, a spokesman for the Republican Party of Iowa.

The debate begins at 8 p.m. Aug. 11 at Iowa State University in Ames, two days before the Iowa straw poll.

The Washington Examiner’s chief political correspondent Byron York and chief congressional correspondent Susan Ferrechio will question the presidential candidates along with Fox News anchors Chris Wallace and Bret Baier.

News Link:

http://caucuses.desmoinesregister.com

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Tuesday's letters: Political corruption holds us back

Our problem is larger than the debt ceiling. The problem is a political system that allows politicians to be paid off by special-interest groups that promote single-item issues. Does anybody look at the big picture?

We are rapidly falling behind other developed countries in health care, technology, education, etc., and this fall will not cease until we change the rampant corruption within the political system.

Is it the politicians to blame or is it us, the American people, who have become obsessed by our own individual priorities without considering their effect on others?

The majority of us are guilty of spending money we do not have, ignoring the day when debts will have to be paid; and that day is upon us.

God help America.

John Lythgoe, Dunedin

The economy

Think for themselves

To move our country forward, politicians should begin with a rebuke of all signed pledges so they can keep an open mind and truly negotiate with all options on the table.

Grover Norquist's Americans for Tax Reform pledge prevents any discussion of ending tax cuts for billionaires and ensures that Big Oil retains its multibillion-dollar tax subsidies. I was appalled to learn that Florida has 14 national legislators who have signed this pledge, including Sen. Marco Rubio, and Reps. C.W. Bill Young, Gus Bilirakis, Dennis Ross and Vern Buchanan.

I thought my senator and representative were actually able to do their jobs without checking first with Norquist. Voters should revisit who has signed this pledge prior to the next election and put people in office who can think for themselves.

Scott Willis, St. Petersburg

The wrong medicine

The news that second-quarter economic growth was weak should come as no surprise to anyone with a basic knowledge of economics. Not only was the original stimulus legislation too small to sustain a recovery from the worst recession this country has ever seen, but the current political momentum for decreased federal spending, along with belt tightening at the state level, is exactly the wrong medicine for this sluggish recovery.

Corporations are sitting on vast reserves, but will not create jobs in uncertain times. Only the government can prime the economic pump enough to break the poor employment cycle. Yet, the only question being asked today is how much money will we take out of the economy.

We need only look to FDR's error in 1937 when, after setting the nation on a path toward a strong recovery from the Great Depression with deficit spending, he succumbed to conservative budget hawks and began to curtail spending significantly. The nation slid back into Depression from which it could not recover until spending for World War II broke the ice.

Once again, the old saying holds true: "What's right isn't always popular, and what's popular isn't always right."

Ernie Ciarrocchi, Wimuama

Remove the instability

Here's an idea:

Change or replace the current debt ceiling law so that all congressional appropriations implicitly authorize the Treasury to borrow whatever funds are necessary to meet the cash requirements of the appropriations. But also require most all revenue collected to be applied first to debt service and retirement. Then, for Congress to reduce the deficit and the total debt, it must either raise more revenue, i.e. increase taxes, or appropriate less.

This policy would resemble the cash/credit management policies of many if not most major U.S. corporations.

The result will be that Congress will retain control of the "purse strings" as intended by the Constitution without the micromanaging that it does not seem to be able to do competently.

There will be no room for U.S. creditors to doubt the soundness of their investment in U.S. debt due to any perceived political "instability."

Tom Klecker, Safety Harbor

Clean energy

Decades of dithering

We have an energy problem, yet our solution is more of the same dead-end programs, "drill baby drill," and more nukes. Germany has energy problem too, yet its solution is to build giant solar and wind farms as far as the eye can see. It sees the folly of nuclear at Fukushima and decides to end its nuclear program in favor of the clean energy of the future. If cloudy Germany can do solar, surely we can.

The technology has been here since before the Carter administration, but we have been dithering for almost 40 years. The solution is right in front of us; we just have to try.

David Slaggie, Tampa

'Lone wolf' attacks stir angst in Europe July 29

Hijacked by extremists

This story in reports on unease about right-wing extremism in Europe following the killings in Norway by a self-professed extreme rightist.

During the election cycle in the United States last year, we witnessed extreme right-wingers wearing and carrying guns to political rallies while spouting hateful rhetoric against the government.

Are we paying attention here in the United States? Those frightening individuals were also successful in electing the most radical right-wing politicians this country has ever seen. Those same politicians are now sabotaging our country financially.

The once great Republican Party has allowed itself to be hijacked by the large freshman class of extremists.

It is imperative that we who love our country, regardless of party affiliation, vote these radical individuals out of office in 2012 so we can return to some level of sanity in Congress.

Jim Slaughter, Land O'Lakes
News Link:
http://www.tampabay.com

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