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Monetary Policy: Steady as She Goes
Utah economist Jeff Thredgold’s Tea Leaf economic update this week focuses on Federal Reserve monetary policy. Thredgold notes that it has been more than a year since the Federal Reserve changed monetary policy by raising or lowering its short-term interest rate target. “The best guess today suggests that at year-end 2007 we will talk about a federal funds rate that has not changed for 18 months.” Thredgold said the Fed is apparently still concerned about inflation pressures, even as inflationary measures have moderated. “At the same time, the Fed sees the current economic expansion continuing at a reasonable pace over the balance of the year, as do most economists.”
Taxpayers Assoc. Newsletter
The Utah Taxpayers Associaton has posted its July newsletter. This month's edition looks at Utah school spending, iProvo, and how vouchers help solve Utah's "education-taxpayer dilemma."
Today in Political History
July 5, 1610: John Guy sets sail from Bristol, England, with 39 other colonists for Newfoundland.
July 5, 1865: The U. S. Secret Service is created by Secretary of the Treasury Hugh McCulloch to suppress counterfeiting. (Source: perspicuity)
Wise Words
“We are not weak, if we make proper use of those means which the God of nature hath placed in our power... The battle, sir, is not to the strong alone; it is to the vigilant, the active, the brave.”
-- Patrick Henry (Source: Quotes Exchange)
Utah Political Trivia
Q: What is the ratio of registered lobbyists to state legislators in Utah?
A: Just over 4 to 1. There are 423 registered lobbyists and 104 legislators (29 senators and 75 representatives). That doesn’t count numerous other lobbyists who are not required to register. (Source: Utah.Gov)
National Politics
Best Stories From …
-- New York Times: [Rudy Giuliani, Mitt Romney, and John McCain] disclosed new fund-raising totals [this week] that underscored the tough political environment for their party and the big money advantage that the Democrats have built. ... Put together, the results for the three leading Republicans amounted to a stark indication of a gap in enthusiasm and confidence between the two parties...."
-- Associated Press: "They all voted for it, but that was then. Democratic presidential candidates came out swinging Monday, not at each other but at the No Child Left Behind law. They spoke at the annual convention of the National Education Association, the nation's largest teachers union. While the candidates received a warm response in the City of Brotherly Love, mere mention of President Bush's signature education law elicited loud hisses and boos from the thousands of teachers on hand."
-- Wall Street Journal: "Political activism on the Internet -- and in the so-called blogosphere, in particular -- has long been considered a liberal stronghold. But conservative bloggers show increasing signs of their own coming of age. They took a major leap forward by playing a central role in scuttling the Senate immigration bill. Meanwhile, many of the most popular talk-radio hosts are now posting on blogs, and the frequent collaboration of the two media is creating a unified conservative voice that is likely to be an important factor in the 2008 elections."
-- The Hill: "House Republicans are planning to use the ashes of the Senate immigration bill to resurrect the debate on border security. ... The GOP leadership move to go on offense on immigration is politically tricky. While polls show that most Americans back stronger border-security measures, some House Republicans ... faced strong criticism last year for their so-called 'hard-line' approach."
Blog Watch
-- At The Senate Site, Sen. Carlene Walker says: "A city council decides to enact a city manager form of government. The Mayor of that city does not approve. As the two entities are both elected, and must work in tandem, who has the final say? Voters? The Legislature? For the city of Bluffdale, this issue is not hypothetical anymore
... The Local Issues Task Force is working on a permanent statutory fix. Our number one guiding principle, as accepted by the committee, is voter input. ... We are working closely with the League of Cities and Towns to come to a consensus opinion as to how the form of government in a city might be changed in an orderly fashion, and inclusive of citizen input. If both the mayor and city council are in agreement -- fine. Both are elected and represent their citizens. There would probably be no need for a special election. If, however, there were disagreement I believe you need to have a vote of the people living within that municipality. That's the direction we're headed right now. ... I would appreciate your thoughtful input."
-- At UtahSenateDemocrats, Sen. Scott McCoy explains why "politicizing the State Board of Education is a bad idea."
Lighter Side
Best of Late Night Humor
"A cloudy day is no match for a sunny disposition."
--William Arthur Ward (SL Tribune Cryptoquote)
Utah’s Top Issues
Here’s our periodic list of significant political issues, generated by observing what’s hot in the news media, what’s on the agenda of various policymaking groups, and what’s being discussed among opinion leaders and policymakers. We welcome suggestions and input from UPD readers. E-mail daily@utahpolicy.com.
Hottest of the Hot
° Municipal election candidate filing deadline (July 5) is approaching.
° Jordan School District considers the possibility of a district-wide vote if east side cities decide to separate.
Emerging
° Education voucher vote in November
° Transportation ballot proposals would increase sales tax by one-quarter cent in Davis, Weber and parts of Box Elder County.
° UTA’s FrontRunner project along the route from Salt Lake City through Weber County spurs real estate development, including several mixed-use projects.
° The Utah Transportation Commission decides not to fully fund the Vineyard Connector and instead to sets aside $30 million to purchase land and an impact study.
° Rocky Anderson hints he could run a write-in campaign in November.
° Salt Lake County Council approves an additional $500,000 in spending to its mid-year budget.
° Language inserted into the Defense Authorization Bill which could open the door for Private Fuel Storage to store highly radioactive spent nuclear fuel on the Skull Valley Goshute reservation.
° A Bureau of Reclamation proposal, crafted in cooperation with environmental groups, to manage the Colorado River and the Lake Powell and Lake Mead reservoirs.
° Complaints by judges and prosecutors that overcrowding at the Salt Lake County jail is leading to the early release of criminals.
° Clean air campaign by doctors and mothers.
Mature
° Snake Valley water pumping for Las Vegas
° Immigration
° Affordable heath insurance
° Mitt Romney presidential campaign
° School district breakup/downsizing
° Salt Lake City mayoral race
Getting Old (but not totally resolved)
° Education achievement gap of disadvantaged students
° 4th congressional seat for Utah
Oldies But Goodies
° Transportation funding
° Ethics reform
° Healthcare reform/Medicaid
° Guns on campus
° Proposal from K-16 Alliance for lengthened school year and more flexibility, which could help solve teacher and classroom shortages and increase salaries significantly for teachers willing to work more days. |
