Sunday, April 29, 2012 – 09:30 a.m.
Here’s some interesting factoids from across the financial and political transom:
First Quarter GDP Revised Lower
First quarter Gross Domestic Product (GDP) was revised lower last week to 2.2%. The revised number was mainly supported by strong auto sales. A component that may not be sustainable looking ahead.
Why? Consumer spending has been outpacing non-existent wage growth.
Neither California Tax Initiative Garnering Necessary Early Support
Two tax initiatives proposed by California Governor Jerry Brown and Millionaire Attorney Molly Munger don’t appear to be gong over well with voters.
In a recent statewide poll Brown’s plan, which raises $6-9 billion in new revenue for the general fund, barely garners more than 50%. Munger’s idea, of raising taxes to directly fund education, polls even worse.
As a rule of thumb, propositions need to be polling north of 55% heading into an election period. So both measures still have time until early October absentee ballots hit voters.
But it doesn’t look good for either.
Miller Hitting Mailboxes Hard in CD-31
Congressman Gary Miller (R-Diamond Bar) is hitting mailboxes hard in the newly redrawn 31st Congressional District. Miller is working to introduce himself to voters in areas he hasn’t traditionally represented.
Miller’s campaign war-chest of more than $1 million is creating a definite advantage for him over Bob Dutton (R-Rancho Cucamonga).
Upland Corruption Case Closing With A Thud
Former Upland Mayor John “J.P.” Pomierski’s guilty plea to a federal bribery charge was met with a sort of anti-climax this week. He will likely be sentenced to somewhere between 18 to 28 months in federal prison in August. The final defendant in the case, Anthony Orlando Sanchez, is expected to plead guilty this week.
Is the ARMC Investigation Up Next?
More than a year ago federal agents swooped down on San Bernardino County-owned and Operated Arrowhead Regional Medical Center (ARMC) with search warrants in hand.
Boxes of evidence was seized.
The focus was reportedly the improper administering of free services to various officials and V.I.P.’s.
It’s been all quiet on the investigation front. But it was rumored months ago that no action would be taken on the ARMC matter until the Upland corruption case had concluded.
Super PAC’s Weigh In For Mitzelfelt, Miller
So far congressional candidates Brad Mitzelfelt (R-Wrightwood) and Gary Miller (R-Diamond Bar) have been the only two candidates to garner welcome independent expenditure support for their campaigns by way of Super PAC’s.
Miller, who is running in CD-31, received a boost from National Realtors Congressional Fund, while Mitzelfelt, who is running in CD-8, received a smaller, but welcome, boost from the Jobs and Opportunity Freedom PAC.
State Assemblyman Paul Cook, who is also running in CD-8, can’t be too pleased about this development.