The majority of U.S. cities were ill-prepared for any financial crisis last year, let alone the one brought about by their respective state shutdowns in response to the COVID-19 pandemic, a new report published by the nonprofit Truth in Accounting (TIA) concludes.
The annual assessment surveys the fiscal health of the 75 largest municipalities in the U.S. based on fiscal year 2019 data. TIA reviewed audited Comprehensive Annual Financial Reports filed by city halls across the country and concluded that even the fiscally healthiest cities are projected to lose millions of dollars in revenue as a result of state shutdowns on top of their previously existing poor fiscal health. Read More
Sleepy no more, President Joe Biden has taken to the Oval Office with gusto. On Wednesday, he resumed a climate policy blitz that has already included rejoining the Paris Agreement and deep-sixing the Keystone XL pipeline with an “Executive Order on Tackling the Climate Crisis at Home and Abroad.”
Among the banner proclamations from the Wednesday order are that Biden will pause the leasing of federal land to oil and gas companies, seal off 30 percent of federal land from development altogether, create a National Climate Task Force to wage “government-wide” battle on climate change, and require of the intelligence services a National Intelligence Estimate on the security impacts of climate change. Read More
A group of ten Republican senators outlined a less expensive coronavirus relief compromise bill and said much of the past stimulus passed during the pandemic hasn’t been spent yet.
The proposed stimulus framework builds on prior legislation that passed with bipartisan support, the 10 senators wrote in the letter Sunday. The group, which included Sens. Mitt Romney, Thom Tillis, Susan Collins and Lisa Murkowski, also requested a meeting with President Joe Biden to discuss the bill. Read More
The board of supervisors of Maricopa County, Arizona, voted this week to audit the election equipment it used in the 2020 election, following months of allegations of election irregularities there and elsewhere around the country.
The supervisors voted unanimously in favor of the audit, the county said Wednesday on its website. Both audits will take place early next month. Read More
College community members are subjects of internal and even federal probes for their presence at “Stop the Steal” protests on Jan. 6.
It’s largely unclear if the identified participants committed acts of violence at the U.S. Capitol or simply showed up to peacefully protest the Senate’s confirmation of Electoral College votes.
Yet their alleged attendance – and in one case, online rhetoric – was enough to spawn investigations by their colleges and, in another case, the feds. Read More
A group of Colorado residents are looking into the possibility of secession from their state to join Wyoming and escape Colorado’s more liberal government, according to the group’s Facebook page. Read More
Acting Capitol Police Chief Yogananda Pittman said the U.S. Capitol needs a permanent wall to protect Congress members in the wake of the riots on Jan. 6.
“In a statement on Thursday, Pittman said the security at the Capitol building must include a “permanent fencing” barrier — a similar barrier to the one halted by President Joe Biden’s administration at the U.S.-Mexico border,” Breitbart reported. Read More
Conservative activists gathered in-person to protest at a Bed Bath & Beyond store in California, in opposition to the company’s decision to cancel all MyPillow products due to the CEO’s support for President Trump, according to Breitbart.
The group consisted of members of the Media Action Network, an activism group founded by former Fox News executive Ken LaCorte. As part of the protest, the gathered members pretended to shop through the store, filling up their carts with various products, before leaving the filled carts behind throughout the store and leaving. They left behind brochures urging the chain to “stop promoting cancel culture,” and bring back MyPillow products. Read More
Just minutes after taking office on Jan. 20, President Joe Biden’s Office of Presidential Personnel demanded that Senate-confirmed National Labor Relations Board (NLRB) General Counsel Peter Robb resign. Robb refused, citing the unprecedented nature of the demand, and was fired.
His deputy, Alice Stock, also was asked to resign, refuses, and was fired the next day. Read More
Over 4,000 pro-democracy protesters gathering in support of Alexi Navalny, a vocal Kremlin critic, have been detained by Russian police since the beginning of last weekend, according to local media and pro-democracy organizations.
The arrests have occurred across the country, from European cities like Moscow and St. Petersburg to far-eastern cities like Vladivostok, according to Russian monitoring groups, BBC reported. Read More
Short sellers claim there is a moral and economic worth to their trade. They supposedly keep the market honest by exposing overvalued stocks, thereby preventing “irrational exuberance” from creating stock bubbles.
If that was all there was to it, they’d be right. Stock bubbles tend to pop eventually, and when they do, the worst case scenario is that the collateral they represent implodes, the loans that the collateral enabled go into default, and trillions in debt-fueled liquidity is erased in a cascading downward spiral. And just like that, the economy collapses into a deflationary depression that makes the 1930s look like a cake walk. There are good reasons we don’t want to demonize short sellers indiscriminately, or drive them out of the market. Read More
Michigan cities with similar populations relied on taxpayers to foot police-settlement payouts ranging from a few thousand dollars to nearly $18 million between 2018 and 2020, according to research conducted by The Center Square.
Freedom of Information Act requests revealed Detroit payouts from police damages in those two years totaled $17.79 million. Read More