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Hype and change. Working pretty well, is it?


Fri, Oct 15th, 2010
Posted in Commentary

Let's see. James Glassman, former undersecretary of state, notes that over a 12-month period, "total U.S. economic output, adjusted for inflation, dropped at an annual rate of 3.8 percent - the worst decline since 1946. The unemployment rate, which started 2008 at 5 percent had doubled by the fall of 2010...number of jobs fell for 21 months in a row...in the recession of 1981-82, the economy had regained the jobs it lost within just 26 months...31 months after the start of the current recession...the employment situation is even worse."

What kind of "change" has government provided to give us "hope"? First there was the Troubled Asset Relief Program (TARP), that gave supposedly "shaky financial institutions" $386 billion in financing to keep the world's economic system afloat. Glassman, among others, thinks that TARP was the correct thing to do. Others aren't so sure.

William Isaac, the former head of the FDIC, for example, says that, "The financial panic of 2008 did not have to happen...TARP (itself) did far more harm than good...(It was) an ill-conceived program slapped together by a panicked government working too close for...comfort with...Wall Street firms."

One way or another, at least $211 billion has been paid back. An additional $145 billion was given to Fannie Mae and Freddie Mac but that is another issue altogether.

Then government began the so-called American Reinvestment and Recovery Act of 2009 to the tune of $800 billion plus. As Glassman points out, "(the) treasury debt...has grown from an easily manageable 36 percent of GDP at the end of fiscal 2007 to a troubling 62 percent at the end of the 2010." Senator Tom Coburn says it's 90 percent. "Only once in U.S. history - during and right after WWII - has the debt to GDP ratio ever exceeded 50 percent," Glassman says.

That's only part of the entire government spending mess of course, as Washington continues to beget even more in the way of "stimulus." And the American people see that government is spending money like nuts and nothing positive is happening. That's not quite a fair criticism. If you own a large highway construction and/or paving firm, you are rolling in dough, so to speak.

The economy has stalled. What should be done next? Liberal economist Paul Krugman and others of that ilk say we didn't do enough initially and government needs to spend more. Keep in mind that is what these folks also said about the Great Depression in the 30 .....
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While we're waiting

Mon, Oct 11th, 2010
Posted in Commentary

By Pastor Jeanne Martin

Mark 13: 32-33 (similar words in Matthew 24: 46 and Luke 12: 35--)

"About that day or hour no one knows, neither the angels in heaven, nor the Son, but only the Father. Beware, keep alert."

Some Christ ..... 
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Hein addresses ballot issue

Mon, Oct 11th, 2010
Posted in Commentary

By Al Hein

On June 1st, I walked into the Fillmore County Auditor's Office and completed paperwork, filing for the Minnesota House, District 31B. I admit I was a little uneasy filing locally, as the Secretary of State's Office is well-versed ..... 
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One moment please - Study the candidates

Mon, Oct 11th, 2010
Posted in Commentary

By Jason Sethre

Publisher of the Fillmore County Journal, cell phone number 507-251-5297

We are only weeks away from a very important mid-term election, which means candidates are watching the sand in the hourglass settle to a state of ..... 
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Social Security attacked

Mon, Oct 4th, 2010
Posted in Commentary

Both the Democrats and the Republicans are set to gut Social Security(SS) for the young of the nation. I say for the young because they know seniors love Social Security and would vote them out of office so their changes won't affect seniors collect ..... 
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Responsible federal farm policy in 2010 and beyond

Mon, Sep 27th, 2010
Posted in Commentary

I joined Minnesota Farmers Union and more than 200 farmers and ranchers from across the country in Washington, D.C., September 13-15 for the National Farmers Union Annual Legislative Fly-In.

Meeting with our representatives in Congress allow ..... 
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One Moment Please - A Busy Week For Everyone

Mon, Sep 27th, 2010
Posted in Commentary

By Jason Sethre

Publisher of the Fillmore County Journal, cell phone number 507-251-5297

To say it was a busy week last week would be the understatement of the year.

While I could have dedicated endless hours or reporting just ..... 
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Habitat

Fri, Sep 17th, 2010
Posted in Commentary

Fall was in the air, cool enough for long-sleeved shirts, a few leaves already falling from trees in a moderate breeze, blue sky occasionally peeking through gray clouds, a good day for watching migrating birds, at least that is what I anticipated. ..... 
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Unpopular programs preserve jobs

Mon, Sep 13th, 2010
Posted in Commentary



The American public wants more and they want it now. We are a people that demand instant gratification. An economy as large as ours doesn't turn on a dime, especially with the severity of the downturn we have experienced over the last severa ..... 
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