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I don't have much time, so in a nutshell, here goes. I think that the slide presentation actually worked very well in getting enabling the Governor to get his points across. I found it very interesting that he touted the state's pension funding and status, which shows that he is not going to concede this issue in the election. Given some independent findings which have been less than favorable as to the state of our pension funding, I'm not sure how this is going to play out.His relationship with the Republicans was almost mutually mocking, not sure how good that looks for either side. I think that he would be better served showing more gravitas, but that's a style issue, and I think he is very comfortable with how he is handling himself, so who am I to judge?
I hear that some commercials (60 second spots?) are going up tomorrow touting the budget, etc. I would assume that means that a formal re-election announcement is right around the corner.
Gotta run.
posted by Rep. John Fritchey @ 2/15/2006
10 comments
10 Comments:
The more important question is whether he will be indicted as Public Official A before the November election. Forget about EE, forget JBT, we need to worry at PF.
I watched the speech on our local PBS station. I thought it was a great speech,well delivered,and a great budget.
The cameras panned the Legislators many times and I did see Rep. Frithcey, working hard. A lot of the Legislators were eating somthing. What were they eating?
Don't know what they thought they were eating, but they were being fed a LOT of bull.
Rep.,
This is the second time in the last week that you've scooped the major media, maybe you missed your calling :)
Rep Fritchey,
What do you think about the Gov's proposal to privatize student loans that lower-income students rely on to help fund a tax credit for upper-income parents?
I don't know that I have an objection to the credits, my concern in selling off the loan portfolio rests more in the fact that we are once again selling off long-term income producing assets for a one-time influx of cash.
I just think that it is a shaky long-term strategy. But in fairness, since I still haven't seen all of the details, my comments are more conceptual in nature. There is an unfortunate inherent motivation in government to enact policies that will pay off in the course of an election cycle, which may not be the most prudent thing to do in hte big picture.
Rep Fritchey,
You just summed up the entire Blagojevich Administration in one paragraph. Short terms gains for a long term of uncertainity. What bothers me the most is that my current student loans could be sold to a pvt company, thus taking the funding from higher education.
How does selling the loan portfolio take away money from higher education? Actually money from this sale will provide the funds for an increase in higher education funding AND provide funding for the tuition tax credit. The ISAC portfolio does not produce a profit for the state. Profit from the portfolio goes to fund the operations of the agency.
John, did you feel the same way when the Mayor sold the Skyway or were you happy that the revenue would lessen the property tax burden on your constituents?
As far as pensions are concerned, the state put more money in the pension funds in the governor's first budget than in all of the Ryan budgets combined. The state has put money in the funds every year of the gov's administration. There was no "raid" only a re-writing of the Repub "time bomb" 1995 legislation that forced payments well beyond the state's ability to pay. The Gov presented possible solutions for lowering the debt ratio. It is up to the legislature to follow through.
This was the best budget speech I have ever witnessed. The fact that the repubs booed like 4th graders at a basketball game made it even more enjoyable!
"The ISAC portfolio does not produce a profit for the state. Profit from the portfolio goes to fund the operations of the agency."
Exactly. And there will be that much less money to fund the agency in the future because Blago is taking all of the money to use up front.
This is just the type of action that leaves us as Democrats subject to attack. And rightly so.
Rep. Fritchey,
One of the things many elected officials lack more than anything today is courage.
It is good to see that you do not duck issues.
The selling or raiding of the ISAC loans has many unknowns that can potentially be harmful to lower-income student loan borrowers for the purpose of give a tax credit that will mainly benefit upper-income parents.
As to the tax credit itself it will not efficiently use resources to increase affordability and accessability for students as effectively as $90 million could be spent.
While you and other legislators will not vote on the sale of the ISAC loans you can oppose the tax credit which would in effect kill the reason for selling the loans. Or put another way if you vote for the tax credit you are in effect voting for the sale of the loans and potentially harming lower-income students.
The bottom line is the ISAC portfolio is not being raided to create the tax credit. The tax credit is the Press Release sugar coating that will be used to justify the ISAC sale. The rest of the money from the sale will probably be used to finance the 3.2 billion capital project or some other new program, since the gov has lost all other revenues.
The only question is will courage amongst legislators stand out to protect lower-income students or will politics and backroom pressure rule the day.
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