Free Republic

One of the most inaccurate narratives promoted in the Detroit school bailout debate is that poor urban districts like Detroit are underfunded compared to schools in more affluent suburbs. What this storyline fails to acknowledge is the role of federal money in hiking funding for poorer urban school districts. All school districts get some federal money, but poor districts get a lot more, and the difference is significant. Click to enlarge To illustrate, the average amount of federal money received by all Michigan school districts was $513 per pupil during 2014-15, but poor districts like Detroit ($3,494 per pupil), Benton...

Madison— Faced with delays and inflation over the past five years, four major state highway projects — including a Madison artery — have accumulated overruns in excess of $700 million. While some of these increases come from faulty cost estimates or unavoidable inflation, the new figures underline the obvious: Delays can be costly for Wisconsin taxpayers. When projects are paused because of financial challenges in the state's road fund, the price of materials, labor and real estate can rise. The numbers compiled by the Milwaukee Journal Sentinel underline the urgency of a divisive issue for Wisconsin's Republican leaders: finding a...

Madrid (AFP) - Spain's public debt rose above 100 percent in the first quarter to its highest level in 20 years, the central bank said Wednesday as Madrid faces an EU sanctions threat for public overspending. Debt as a proportion of economic output hit 100.5 percent in the first quarter up from 99.2 percent at the end of 2015, the bank said in a statement.

At the end of this past week, The Washington Post ran a long story on the Center for Freedom and Prosperity (CFP), an organization that I have long supported. It appeared that the original goal was to do a hit piece on CFP because it had been a leader in the fight for global tax competition and smaller government. The irony was that the authors of the story quoted a number of people from around the world... ...who support bigger government and higher taxes, to the effect that those at the CFP had been highly successful in blocking a number...

Michigan public school districts received bad financial news recently when the latest audit for the school employee pension plan showed that unfunded liabilities had increased again, this time by $200 million in 2015. The statewide pension plan known as the Michigan Public School Employees Retirement System (MPSERS) saw its unfunded liabilities increase from $26.5 billion in 2014 to $26.7 billion in 2015. The unfunded liabilities were just $12.0 billion in 2009 but have more than doubled over the past six years. The state has spent about $1 billion more on pension payments over the past six years, but it hasn't...

The defense budget should be used to pay things that make our country more secure and help the men and women in uniform accomplish their mission. Unfortunately, some in Congress use this funding as a piggy bank for their own unrelated priorities. In fact, for the current fiscal year, Congress took almost $500 million from the defense budget to pay for non-military research projects. This is the wrong way for Congress to operate, and is particularly concerning given how seriously underfunded our military currently is. The U.S. military is in rough shape due to crushing budget cuts over the last...

LANSING — Due to their nature as independent, self-supporting institutions, private schools do not disclose data about themselves in a standardized format, which sometimes clouds the public's understanding of them. A new report, though, sheds some light on the private school landscape in Michigan. Rachel White, a doctoral candidate at Michigan State University, gave a presentation on Thursday about her new study of the private education sector. White spoke at the Mackinac Center for Public Policy’s Issues and Ideas Forum. While 601 private schools serving 113,000 students operate in Michigan, little research has been done to understand these institutions. When...

Those anticipating the release of Michigan’s education adequacy study learned this week that, once again, they will have to wait a little longer. While the precise detailed findings are unknown, the embargoed report’s general conclusions should not remain a matter of mystery. Last September the state granted Colorado-based Augenblick Palaich & Associates a $399,000 contract to determine how much money Michigan needs to spend in order to provide “adequate” services to students. Our state currently ranks 21st in per-pupil spending but 43rd in math and reading achievement on the nation’s report card. Michigan has been spending more than the national...

Consumer spending climbed in April by the most in almost seven years, a sign U.S. households are ready to help jump start growth after a first-quarter slowdown. Key Points Consumer purchases climbed 1% in April (vs. 0.7% forecast) after little change in March Personal income climbed 0.4% for a second month Fed’s preferred measure of inflation (tied to consumer spending) climbed 0.3% from month before, the biggest May 2015; 1.1% from year before Big Picture Households will need to do the heavy lifting if a growth rebound is to materialize... [snip] The Details After adjusting for inflation, which generates the...

Based on recent media headlines, readers and viewers could be excused for believing the state of Michigan’s budget is in crisis mode. It’s not. Over the next two fiscal years, Michigan’s state government expects to collect almost $2.4 billion more from sales, income, business and property tax payments than it gets now. While the increases are slightly less than earlier estimates suggested they might be, even in Lansing a nearly $2.4 billion cumulative raise over two years is considered real money. Yet “budget crisis” is exactly how most media outlets characterized the recent changes in revenue estimates produced by the...

MIAMI - Drivers throughout South Florida have said no matter where their daily commute takes them, they feel they're spending more money, more often on tolls. Local 10 News spoke to several drivers who said the tolls are another expense and don't necessarily help them reach their destination any faster. "Three hundred to four hundred (dollars) a month," Maribel Masvidal estimated she spends commuting from Homestead to her job in South Miami. "A lot of money that could be used on other things for my family." Masvidal said that commute can take her up to two hours one way on...

The EU would have “the second most powerful military” in the world if its members pooled its resources, insisted the co-director of the Institute of Studies on Conflict and Humanitarian Action in an interview with EurActiv Spain. “If we added the capabilities we have in the EU together, we would automatically become the second most powerful military force on Earth and the reason we aren’t is because there is no political will. This is because each national government would rather be the head of a mouse rather than the tail of a lion,” said Jesús Núñez, a conflict analyst. …

Just because the so-called “conservative” and “liberal” punditry and politicos refuse to answer this question, doesn’t mean we should stop asking it. In 2009 President Obama along with congress passed the roughly $900 billion stimulus bill, the American Recovery and Reinvestment Act. The “non-shovel ready” spending took place within fiscal year 2010/2011. The amount is significant because the injected stimulus was 30% more than the entire federal budget for the same year.

The U.S. Senate’s first spending bill of 2016 spends more than President Barack Obama requested and lacks significant conservative amendments, but it still sailed to passage in the Republican-led Senate Thursday. An overwhelming number of U.S. senators on both sides of the aisle approved the energy and water development appropriations bill by a vote of 90-8. Conservatives had objected to the higher spending levels and lack of policy riders in the weeks leading up to the vote.

Ancient Rome declined because it had a Senate; now what's going to happen to us, with both a Senate and a House?" — Will Rogers Most Marylanders are wondering the same thing. This year, the liberal majority in the Senate and House launched a fiscal attack on Gov. Larry Hogan's efforts to balance the budget, reduce the deficit and cut taxes. Their goal: to handcuff Hogan and prevent him from doing the job we elected him to do. Fencing and mandated spending are the manacles Senate President Mike Miller and House Speaker Mike Busch are using. Here's how they work....

For years, Ecorse Public Schools was a poster child for claims of ineffective oversight of school finances by the Michigan Department of Education. Despite laws that require school districts to balance their annual budget, and rules that require offenders to eliminate deficits within two years, Ecorse spent more on operations than it collected in revenue for 10 consecutive years. Only one other school district has managed to stay out of balance for as long (New Haven Community Schools in Macomb County). But by June 2015, the district had eliminated its $661,000 deficit and projected a positive balance — $343,000 —...

Donald Trump will likely become the Republican presidential nominee after a decisive victory in the Indiana primary and the departure of Texas Sen. Ted Cruz on Tuesday night.

Suppose you're a hardcore fiscal conservative. You don't give a hoot about social issues, and you don't follow any of this nonsense about identity politics or insiders and outsiders. All you care about is getting the nation's fiscal house in order. Are you sitting down? I hope you’re sitting down. Because the candidate you should vote for might surprise you. According to a new report from the nonpartisan Committee for a Responsible Federal Budget, the most fiscally conservative presidential contender left standing is . . . Hillary Clinton. Seriously....

The Michigan state agency in charge of government programs to attract and subsidize businesses, the Michigan Economic Development Corporation, runs a “Pure Michigan” ad campaign with annual spending of $33 million. The program has been criticized as a pure corporate welfare handout to the Michigan travel and leisure industry. The MEDC's response has been to seek to refute the criticism, suggesting that its own budget, rather than an independent evaluation of its programs' effectiveness, is the key consideration of its officials. As described by previous articles in this series, the MEDC has granted several no-bid contracts to a Canadian company...

RIYADH—Saudi Arabia, crimped by low crude prices, approved Monday a long-term blueprint for the kingdom’s economic transformation aimed at reducing its dependence on oil. The multiyear plan, dubbed “Saudi Vision 2030,” was approved by the cabinet, according to Saudi Arabia’s monarch, King Salman. The Saudi cabinet, in a statement carried by the official Saudi Press Agency, said the government’s economic council would be in charge of overseeing the vision’s implementation. Saudi officials later Monday were to present a broad overview of the country’s most extensive economic shake-up in decades. The steep drop in oil prices has given new urgency to...