The Problem Is Not the Deficit, It’s Jobs

June 3, 2011 Leave a comment

Given the job situation, Obama would be crazy if he negotiates anything more than a nominal reduction in the deficit.  Deficit equals stimulus, deficit reduction means a slower economy and less employment.  No wonder the Republicans are fighting hard for the latter.  It’s that simple–the Republican are really closet Keynesians.

Even if the payroll report shows improvement, the employment situation remains grim. There are 6.955 million fewer payroll jobs now than before the recession started in 2007 with 13.7 million Americans currently unemployed. Another 8.6 million are working part time for economic reasons, and about 4 million more workers have left the labor force. And 5.84 million have been unemployed for six months or more. Numbers to remember.

via Calculated Risk: Employment Situation Preview: Fewer Payroll Jobs Added, Grim Overall.

Filed under Coral Gables

Coral Gables’ Property Values Unchanged–No Taxpayer Relief Coming

June 2, 2011 Leave a comment

Is this good news for Coral Gables’ taxpayers?

  • There is no hope of getting any relief from the city commission on property taxes this year;
  • The double dip in real estate values right now (not included in these new estimates) means next year’s property values will hold constant or fall in Coral Gables–again, no relief in property values;
  • Property assessments are mess–there will be many challenges to the assessments.
  • With Renaissance Debt and Spending Program being more important than than careful, conservative financial management to the commissioners and city manager, there will be no tax relief now or in the future.

Dear Taxpayers:  elections are a waste of time.

Filed under Coral Gables, Property Values, Taxes and Fees

Be Careful Coral Gables, The Future is Very Uncertain–No Time for More Debt

June 1, 2011 Leave a comment

Le’t hope that the commission and city manager of Coral Gables think hard again about the city’s economy and the need for more debt at a very uncertain time.  Paciencia!

Even the optimists are nervous about the next few months. It’s possible that some of the gloomy data reflect excessive caution ahead of several key events: The end of the Federal Reserve’s asset purchases, the resolution of the U.S. debt-ceiling soap opera, the resolution of Europe’s fiscal disaster, and the ability of the developing world to achieve its soft landing.

If all of those go well or even just OK, the future might look a little brighter at the end of the summer. And if they don’t? We may look back on this spring with fond memories.

via Will the economic slump last? MarketWatch First Take – MarketWatch.

Filed under Budget, Coral Gables, Government, Housing, Property Values

And The City of Coral Gables Going In Debt!

May 31, 2011 Leave a comment

The irrationality of the city manager’s proposal and the commissioners’ approval of a new spending and debt package for Coral Gables is now crowned by the persistent double dip in housing prices across the country.

The blind push for spending and debt, sacrificing taxpayers and employees in the process, is a hugely disappointing outcome of the recent election.

The ominous new drop for the Standard & Poor’s/Case-Shiller index of 20 cities, a key measure that is closely watched by economists, casts further doubt about the future of the housing market’s recovery. The index pushed below its previous bottom hit in April 2009, confirming a much-feared double-dip in home prices.

via Case-Shiller home-price index hits new low – latimes.com.

Filed under Coral Gables, Property Values

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