The Republicans picked a sweltering day for the grand opening of the Ada County GOP’s campaign headquarters in Meridian.
citydesk took our $40 government coupon and bought a digital converter for the old television this week. It cost about $20 cash, on top of the digital welfare check.
The Ada County Recorder’s office is a hive of election activity.
Turns out both Republican Rep. Bill Sali and his Democratic congressional challenger Walt Minnick agree on one thing: The proposed Congressional bailout of the faltering economy was a bad idea. The two political competitors just have very different reasons.
Sali joined the majority of the House of Representatives on Monday, Sept. 29 when he voted against the proposed $700-billon bailout plan—a decision that sent the Dow Jones spiraling downward in its worst single-day loss in history.
For Sali, the issue is putting the burden on taxpayers. Instead of having the government buy up the bad investments slogging the national and global credit system, he is in favor of providing tax incentives to encourage private industry to do it instead.
“We need a solution that does not jeopardize taxpayers and does not fundamentally change the relationship [between government and business],” said Sali’s spokesperson Wayne Hoffman.
Sali is part of a bipartisan coalition working on its own plan. Among the possibilities is eliminating or reducing taxes on private investors willing to buy bad investments.
Hoffman said the coalition is also looking at ways to modify fair-value accounting, but said the details of that option are still being worked through.
“There’s a lot of really fresh ideas out there that weren’t considered before, that need to be considered,” Hoffman said.
And while Minnick agrees that the proposal before congress was a poor one, he still believes that the government needs to step in to protect the integrity of markets both in the United States and around the world. The key to that, is providing liquidity, allowing financial institutions to continue the lending cycle, Minnick said.
But rather than a pay-out, Minnick supports short-term loans “not taking bad assets off of questionable banks.”
If the loans aren’t repaid on time, he feels the corporations should be treated like everyone else, and the loan should be foreclosed. He also strongly believes that the CEOs of companies that opt for governmental help should not receive any financial benefit.
“If the taxpayers were going to be asked to step in and help, the CEOs shouldn’t have a plug nickle in termination pay,” Minnick said. “There’s no termination pay for a CEO who has ruined the company.”
Minnick, two large companies, including serving as CEO of Trus Joist, said he would never have expected to benefit if he had ruined one of his companies.
“If I had ruined my company, the board would make sure I was ousted on my ear,” he said.
Adding larger regulatory reform is also imperative to any plan, Minnick said. Among his suggestions is consolidating the number of agencies which have oversight of the financial industry and making sure every aspect of the industry has some federal regulation.
“It’s very hard to get regulatory reform through Congress,” he said. “If you miss this train out of the station, it’s going to be very hard to get it through later.”
Minnick said Sali’s idea of tax incentives for private industry “sounds like nonsense” and doesn’t address the current issue. “We need to keep the banking industry functioning,” he said.
Both Minnick and Sali agree that something needs to happen soon. Hoffman said Sali and other coalition members are working as fast as they can and will hopefully have a new proposal available to the public soon.
Minnick believes time is imperative to stopping the situation from getting any worse.
“We are in a recession,” he said. “We need to act quickly [to] prevent a global depression.”
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Gov. C. L. "Butch" Otter announced a 1 percent holdback in all state agencies Friday but is also asking agencies to reserve another 1.5 percent of their budgets, just in case. So the $27.3 million holdback could be read as some $58 million that government cannot spend.

There are two political debates in SW Idaho tonight.
From BW intern, Mathias Morache:
The Idaho Statesman announced Tuesday that it will lay off 15 employees, including 6 newroom staff. This comes as the second wave of layoffs implemented by The McClatchy Company, the owner of the Statesman, in a plan to cut 1,400 jobs nationwide. This move, according to McClatchy, will save the company $100 million dollars in the next year. Nonetheless, amidst plunging stocks, CEO Gary Pruitt received an annual $800,000 bonus and company executives used the company jet to travel to locations an hour drive away.
While addressing a crowd of Idaho politicians, officials and business and environmental leaders at the Idaho Environmental Forum this afternoon, Stephen Allred, the former Idaho Department of Environmental Quality director tapped by Department of Interior Secretary Dirk Kempthorne to head up the Land, Minerals and Management Bureau said that decisions in Washington are not subject to political pressures.
"I am outraged by the immoral behavior, illegal activities, and appalling misconduct of several former and current long-serving career employees in the Minerals Management Service's Royalty in Kind program ... These individuals have eroded the trust the American citizens deserve to have in their public servants."
Boise Mayor Dave Bieter will lead two tours today of a proposed downtown streetcar route. Tours are 10:45-11:15, 11:15-11:45 and then 1:15-1:45 and 1:45-2:15. Apparently stops are marked in orange according to the map above. The mayor, BSU professor Todd Shallatt, representatives of CCDC and of Mark Rivers downtown incubator the Water Cooler will be along for the tour.