The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance. Cicero, 55 BCE
The San Jose convention center was visited by experts on the National Debt last Friday, Sept. 23. This was part of the Fiscal Solutions Tour comprised of both Democrats and Republicans, with budget expertise organized by the Concord Coalition. The speakers former titles included: the Comptroller General of the United States, head the General Accounting Office (GAO), head of the Congressional Budget Office, Public Trustee of the Social Security and Medicare program to name a few.
Unfortunately, the Power Point presentation stopped working after the first few slides, which was a shame since the slides were very informative and gave background information on the enormity of the problem we face. I showed their documentary film IOUSA at City Hall in May 2009 to show parallels with our own budget in San Jose.
The presenters shared some eye-opening items on Friday. One was that there is no Social Security trust fund. No money stashed away in a “lockbox” to pay obligations. Instead, there is a file cabinet in Virginia with a long list of IOU’s, since the government has the spent the money. This year Social Security is paying out more in benefits then it takes in.
Another revelation was that this year we will spend $202 billion just on interest on the national debt, which is more than the wars in Afghanistan and Iraq. By 2019, nearly all federal revenue will go to paying interest on the national debt and entitlement programs like Social Security, Medicare and Medicaid, leaving a sliver for military, food safety, science, etc.. Not mentioned was the sleeping giant of $3-5 trillion in unfunded pensions from local and state governments nationally.
One may hope the federal government will bail out state and local governments from their pension obligations, however, it would require borrowing even more debt from foreign countries or raising income taxes to benefit one group in society instead of other priorities Americans may have. The more the United States borrows from other countries limits our liberty, as you must be nice to your lenders (foreign governments) even if they are wrong.
Whatever level of government, hard decisions must be made or citizens will feel the consequences of punting. When asked, “How we solve this problem?” Fiscal Solutions’ David Walker said: “It depends if elected officials are willing to risk their jobs” ... “elected officials don’t get re-elected by raising taxes and cutting spending. Instead they get re-elected for not raising taxes and increasing spending.” The presenters offered solutions ranging from budget reform, defense spending, health care reform and yes raising taxes strategically.
Click on this link to view an online video that briefly lays out the problem and provides their proposed solutions. http://blip.tv/file/4048954
Finally, a big thank you to the San Jose police officers who donated their time Saturday morning for the Willow Glen High School homecoming parade. Thank you Lt. Ta, Sgt. Montonye, Sgt. Moody, Sgt. Lira, Officer Ramirez and Officer Herbs.
But hey, even in these bad times, Mayor Reed and the city council have found millions to buy land to subsidize another multi-millionaire to build a baseball stadium for a bunch of millionaire baseball players to play baseball.
Pier, HOW COME THE BASEBALL STADIUM ISSUE WAS NOT PUT ON THE BALLOT FOR US TO FOR OR AGAINST?
“HOW COME THE BASEBALL STADIUM ISSUE WAS NOT PUT ON THE BALLOT FOR US TO FOR OR AGAINST?”
Because they didn’t want to muddy the waters regarding Measure V or Measure W…. It wouldn’t look good if they reduced the staffing of Fire and Police and then turn around and build a stadium with money that should have gone to Public Services…. Remember when we USED to be the safest big city???
Do you think that you can make converts of the rest of the city council?
Yah, we can fail just like they did PL. Opulent lifestyles for the senators. What do we do when there is public unrest?
We build a stadium!
> We build a stadium!
Bread and circuses!
> The presenters shared some eye-opening items on Friday. One was that there is no Social Security trust fund. No money stashed away in a “lockbox” to pay obligations. Instead, there is a file cabinet in Virginia with a long list of IOU’s, since the government has the spent the money.
Really!
Would someone inform Barbara Boxer?
Oh, wait. She’s one of the liizards who put the IOU’s in the file cabinet and spent the money.
The stadium will probably never happen so there will be other justifications for all of the studies, land purchases, etc. that have already cost millions.
As recent actions have shown, the City is not really interested in fixing the problem. They approve more housing that can’t be adequately served, eliminate potential jobs-producing lands, and blame public employees for all of the Council’s failures.
Not nearly enough, alas.
Can someone explain to me why if SJ is in such bad shape, why is Chuck Reed and his entourage traveling to Washington this week on our dime?
Another waste of tax dollars.
Probably to try to convince the feds. to give us back a lot of the money they take from us to redistribute.
Et Tu Brutus.
With City Hall upside down, and the RDA in absolute retreat, I happen to notice that the hugh graffitti sign of the now fallen Ridder Organization that hangs atop the bank building at the corner of 1st and San Fernando, has been avoided. It would have made much more sence to have used the 6 million given to our privious mayor to fix his old buildings, to give us a clean sky line with out that awful pretentious sign.
Here is my thought. After Bell, Ca. it is time to roll over all the back room politics that has governed this worst roads in the nation. city.
It’s great to see the Cops shooting from the hip these days. This is a good opportunity to clean the field, and drive the scondrels out of town.
San Jose Inside would do well to have a posting spot like the Fly. The attorneys could use the work. It sure would stop the husslers in politics today to have to look over their shoulders. For once the pyramid is upside down. Rome is burning and all of the violinists have lost interest in music of forgiveness.
Just for drill, a few names to concider. All Mayors, All RDA employees. All
abusive cops, all neglectful teachers. priests and coaches? absolutly!
Larry The Cable Guy said “Get Er Done!”
Mayor Reed said , “We are about Sunshine!”
Gonzalles said, Build it and they will make me King!
Cassius
The truth is that the Sun rises in the east. But some of you would still probably insist it rises in the west if that’s what you truly believed (the hell with reality).
Hence the ridiculous comments against San Jose’s ballpark efforts. For the millionth time, RDA funds by law can only be used to promote economic development. RDA land acquisitions for development (whether its for a ballpark, shopping center, office park, housing) are exactly what they’re supposed to be used for.
The city will then lease the land to Lew Wolff/A’s, where they will invest over $400 million in private money for ballpark construction. This doesn’t even take in consideration increased downtown patronage and sales tax revenue.
But go ahead and believe all of your “subsidy for millionaires while children starve” nonsense; it’s your world (not ours).
You are right Tony. These same people who are claiming that RDA shouldn’t spend money to attract a baseball team are mum when it comes to all the other subsidies RDA provides.
San Jose just cut the ribbon on Brocade’s flashy new HQ in North San Jose. RDA provided them with over $2 million to get them to build in San Jose rather than a neighboring city. This happens all the time. It is the appropriate role of the RDA. So let’s use the RDA to attract all kinds of businesses to San Jose, from Adobe and Brocade to the A’s.
OMG, let it rest. Just be satisfied that you know and embrace the truth. You need not convince others who may doubt you.
Americans need to wake up before it is too late and we are left making interest payments instead of investing in our future.
Let’s lease the new City Hall to private business, and move back into the old City Hall.
Problem is that the present value of the entire stream of lease payments would likely be something less than 25% of the construction cost… a loser if ever there could be one! Gonzo and his cronies really screwed over the City of San Jose.
So, instead of the city only losing 75% of it money, you feel we should lose all 100% of the cost. Okay.
Something,
Gosh, thanks so much for making an ass of yourself in rendering an opinion of what I “must have meant.” I can only surmise that you barely graduated from the University of Phoenix. Perhaps another year or two of online or by-mail course work will provide you with enough brain power to allow for autonomic functions.
You certainly are a model of civility. Whenever you are wrong you make an ass out of yourself. Everytime. But, you are good for a laugh.
Tony D gets it wrong again and again
– “For the millionth time, RDA funds by law can only be used to promote economic development. ”
WRONG – economic development is not ONLY or even Primary use for RDA funds but part of overall plan to revitalize deteriorated and blighted areas.
” California law that enables local government entities to revitalize deteriorated and blighted areas in their jurisdictions. Redevelopment agencies develop a plan and provide the initial funding to launch revitalization of identified areas. In doing so, redevelopment encourages and attracts
private sector investment that otherwise wouldn’t occur. Redevelopment activities create jobs and expand business opportunities, provide housing for families most in need, help reduce crime, improve infrastructure and public works, and cleanup of environmentally-threatened and rundown areas. “
” Redevelopment agencies support jobs, replace and upgrade infrastructure such as streets, water lines,
and sewers, fund affordable housing, provide community facilities, clean-up contaminated properties, and encourage sustainable communities.”
Tony, you really need to do your home work rather than continuing to embarrass yourself by putting out WRONG information
While I believe your post, there is an issue.
If you are going to quote something you need to provide a link for verification. Otherwise, you are like Fox News, and just making things up.
Nope nope nope nope… He’s right.. I believe that was taken right from the RDA website.
Actually they are both correct. The RDA funds capital projects that promote economic development such as purchasing land and building infrastructure. But they are very limited by State law to provide ongoing operating costs for police, fire, parks, etc.
Sources? You want sources?
OK. Here’s some sources for you:
Jayson Blair
Howell Raines
Janet Cooke
Walter Duranty
Dan Rather
Eason Jordan
Stephen Glass
Patricia Smith
And those are just some of the ones who were caught.
Mr. Oliverio,
It’s amazing how at every turn you and your buddies take every chance you can to blame everything on the big bad pensions. Like they are not funded and the investments in them will never get better. Please, if they are anything like my 401K it already has gotten better. Looked at the stock market lately?
How about our own City Managers Budget numbers as put out in the Budget in Brief 2010-2011: General Fund Budget of $954,094,629, Enterprise/Special Purpose Funds $1,386,435,779, Capital Improvement Funds $918,494,005. Wow! That is a total budget of 2.7 BILLION DOLLARS! That certainly does not look like the sky is falling nor like Vallejo as so many seem to think we will become. How about you explain what the $264,686,020 listed as “Other” in the Enterprise/Special Purpose Funds was for? That is almost the total PD budget and all we get is “Other”. Other like what, your special projects or fund to hide money in so you can claim we have a Structural Deficit. Notice you always use the word Structural and not just deficit because it really is not a real deficit.
I will give you this, you have done a masterful job of trying to demonize the very people that protect you every day and if that is what you want your legacy to be, so be it.
Again, $264.6 MILLION for “Other” and you have to lay off 49 Firefighters and shut down 5 Companies and reduce PD staffing! Really! You all are masters of deception and manipulation of funds and one day the citizens will see what we all see every day.