Archive for April 23rd, 2013

InlandPolitics: Area ‘economist’ back at it again

Pom-Poms

Sunday, April 23, 2013 – 10:00 a.m.

A local Inland Empire ‘economist’ is back at again this week.

It must be time to drum up some business for the area’s paid cheerleader John Husing.

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Riverside-County-Seal

April 22, 2013; 03:43 PM

Riverside County is taking the state of California to court over roughly $40 million in funds the county believes it needs to pay off debts of its now-defunct redevelopment agency.

To read story by Jeff Horseman in The Press Enterprise, click here.

The Sun: San Bernardino passes ‘survival budget’

San Bernardino Seal

Ryan Hagen, Staff Writer
Posted: 04/22/2013 08:56:31 PM PDT

SAN BERNARDINO — The city passed a “survival budget” Monday evening that continues to defer millions of dollars it owes, with frequent and substantial changes expected later.

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SBCO Seal

Jim Steinberg, Staff Writer
Posted: 04/22/2013 11:24:13 AM PDT

Property values in parts of San Bernardino County are on the rise, a sign that the regional economy could be on the mend, county officials said Monday.

But it comes with a catch: higher taxes.

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Upland seal

Sandra Emerson, Staff Writer
Posted: 04/22/2013 10:09:35 PM PDT
Updated: 04/22/2013 10:09:47 PM PDT

UPLAND – The City Council, after several months of discussion, agreed Monday night to revise the city’s campaign contributions limit ordinance.

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Yahoo News (AP): Flight delays pile up amid FAA budget cuts

Ontario International Airport

By SCOTT MAYEROWITZ | Associated Press – 10 hrs ago

NEW YORK (AP) — Flight delays piled up across the country Monday as thousands of air traffic controllers began taking unpaid days off because of federal budget cuts, providing the most visible impact yet of Congress and the White House’s failure to agree on a long-term deficit-reduction plan.

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The Atlantic: Are Student Loans Destroying the Economy?

Money

No. But by trading cars for college (and homes for homework), some young people are investing in themselves rather than in the economy’s biggest-ticket items

Derek Thompson
Apr 22 2013, 9:17 AM ET

Recoveries are powered by two things. Houses and cars. And young people aren’t buying either.

That’s the conclusion from a new study out of the New York Fed, via Brad Plumer, that can be easily read as blaming student debt for holding back the recovery by squashing home and auto sales.

The share of 30-year-olds with student debt who have taken out a mortgage has collapsed since the recession struck (ditto those without student debt).

And the share of 25-year-olds with student debt who also have an auto loan has fallen since the crash, as well (ditto again those without student debt).

This study seems to feed into a familiarly scary story about student debt as a dangerous bubble that is piling unprecedented levels of debt on young people, and is wrecking the economy by preventing them from starting their lives.

There’s two problems with that story. First, as Jordan Weissmann and I wrote for The Atlantic, there are so many reasons that cars and houses are falling out of favor with young people beyond student loans (and even beyond the miserable economy) that it’s impossible to pick a single culprit. For example, companies like Ford are vocally worried that smartphones are replacing cars as symbols of grown-up sociability, and young people are bunching in urban and urban-lite areas with many apartments and good public transit.

Second, it’s a myth that college graduates have more debt than they used to. In fact, they have less. Total debt for 20-somethings has fallen since its peak in 2008, as it has for every age group in this period of deleveraging. Families that feasted on credit in the last decade have spent the last few years paying back what they owe and cutting back their excessive spending. Young people, with and without student loans, have done the very same.

To read entire story, click here.

Roll Call: GOP Pins Airport Delays on Obama

By Nathan Hurst
Roll Call Staff
April 22, 2013, 3:44 p.m.

“Why is President Obama unnecessarily delaying your flight?” House Majority Leader Eric Cantor tweeted as part of GOP lawmakers’ social media offensive. “FAA can reprioritize.”

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Gary Miller

Among those not on the list is Rep. Gary Miller (R-Calif.), whom the Cook Political Report rates as the most vulnerable Republican in the country.

Posted by Aaron Blake on April 22, 2013 at 8:09 am

House Republicans on Monday will name 11 members to a program designed to protect their most vulnerable incumbents, Post Politics has confirmed.

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