Cornyn, Schumer, and an EPIC self own

"Wise people store up knowledge,
But the mouth of the foolish is near destruction."
Proverbs 10:14

ICYMI, earlier this week national Democrats waded into the U.S. Senate primary:

The Democratic Senatorial Campaign Committee is endorsing MJ Hegar in the crowded primary to challenge U.S. Sen. John Cornyn, R-Texas.

This is a completely boring, irrelevant, and predictable announcement.  Of course national Democrats think Hegar is the strongest candidate.  That's been obvious for months to anyone with half a brain.

Nevertheless:

Texans knew from day one that Hollywood Hegar was the handpicked candidate of Chuck Schumer.

We get it: Chuck Schumer is bad.  That's not wrong.  It's a 2004 era argument.  Just because the playbook is old, however, does not mean the underlying assertion is incorrect.

But then this happened:



Less than a week after they wave the "Chuck Schumer" bloody shirt, Chuck Schumer votes against a spending bill that John Cornyn votes for.

It's kinda classic.

Bottom Line: When actions and words contradict, trust actions.

Cruz & Roy are first Republicans, ANYWHERE, to handle Occasio-Cortez correctly

"Though one may be overpowered by another, two can withstand him.
And a threefold cord is not quickly broken."
Ecclesiastes 4:12

By now you've heard:

WASHINGTON – U.S. Sen. Ted Cruz committed on Thursday to partner up with his political opposite, U.S. Rep. Alexandria Ocasio-Cortez, to move legislation that would ban members of Congress from becoming corporate lobbyists after they leave public life.

The two were joined by Chip Roy.

This is an obvious, no-brainer, idea that should have been enacted a long time ago.  That it hasn't been speaks to the perverse incentives riddling congress.  We applaud Senator Cruz and Representatives Cortez and Roy for forcing the discussion.  Godspeed.

There's another, more important, point to consider.

Alexandria Occasio-Cortez has been a national political figure for about a year. Yes, we have seen some criticism of her ideas & policies.  But we've seen a lot more derogatory commentary about people who work in the service industry.  And this taking her out of context to make her look stupid schtick needs to die.

Alexandria Occasio-Cortez's success comes from her willingness to call out obvious nonsense in the American economy.  It was the theme of her campaign.  It was why she live-tweeted the Congressional brainwashing session.  It's why she ridicules some of the more transparent phonies in recent memory.

Most of the time, she just goes after low-hanging fruit no-one else wants to touch...

...which is why seeing Ted Cruz and Chip Roy take her up on that low hanging fruit was so refreshing.

There's no reason why Alexandria Occasio-Cortez should have this issue to herself.

Let's not kid ourselves: Banning members of Congress from becoming lobbyists faces GIGANTIC institutional opposition.  But that's no reason not to try.  At a minimum, you get some positive media coverage out of it.

It's certainly a more intelligent strategy than disparaging people who work in the service industry.

Bottom Line: Maybe it shouldn't be that way.  But it is.  If we can actually ban former members of congress from becoming lobbyists, so much the better.

#TXLEGE: Today's TPPF #SpecialSession Policy Orientation

"Prepare yourself and be ready, you and all your companies that are gathered about you; and be a guard for them."
Ezekiel 38:7

TPPF hosted a supplemental policy orientation today with a mix of speakers and panels; the following is a direct transcription of our notes.

Governor Greg Abbott:

• Teachers are the most important part of the education process.

• Reward the best teachers.

• School finance -- What has been studied previously is not adequate.
• No more "band aids over band aids."
• End Robin Hood.

• Current education structure focuses on "schools, not students."

• Cities have enacted policies that are hostile to economic growth.
• "If we don't stop this, real quick, we are in real danger."

• Taxpayers should have a say in tax increases.
• #1 issue we must address.

• Private property rights are being diminished across Texas.

• "I want a vote" on union dues bill.

• Dallas mail in ballot fraud nothing new.
• Been going on since (at least) Lyndon Johnson.
• Removing paid political operatives from the process.

• Publishing lists of special session items re: who's supporting/who's not "on a daily basis."

Lt. Gov Dan Patrick:

• Points out Straus laying foundation for state income tax in the first paragraph.
• Along with Democrats and school district officials.

• 52% of budget goes to education.

• Teachers only get 32% of education $$$.

• "It's not an unfunded mandate...school districts need to re-purpose the money."

• Teachers unions oppose higher pay for teachers.

• Math is math.

• "Governor Abbott and I do not want Texas to become California or Illinois."

• "Greg Abbott's priorities are my priorities."

• Property taxes #1 priority.

• House has lots of members who will vote the right way "if they get the chance."

• "Texas likes fighters, not quitters."

• "We've shown that big government Republicans are wrong."

• re: Straus: "Don't undermine the entire party and the entire state."

From Left: Talmadge Heflin (TPPF), Sen. Kelly Hancock, Rep. Craig Goldman, Sen. Bryan Hughes, Patrick Gleason (ATR)

State level fiscal policy panel:

• Statewide spending limits needs to go down to (population + inflation).

• Hancock: Abbott created conference committees before the bills were even filed.

• Public sector unions are bankrupting California.

• Hancock: Spending is where you control the growth of government.
• (Population + inflation) is a real cap.
• Note: As this session's budget can attest, (population + inflation) is more of a bare minimum than a real cap...but it would still be a significant improvement on the status quo.

• Gleason: It's easier to pass things in other states when Texas has done it.

• Gleason: Kansas cut taxes, but failed to keep spending in check.

From Left: Sen. Donna Campbell, Sen. Paul Bettencourt, Rep. Paul Workman

Local Liberty Panel:

• Cities are doing power grabs to increase their tax base.

• Annexation: Cities have been unrestrained for decades.
• Campbell's bill expedites voluntary annexation.
• Texas is one of the last states in the country to permit voluntary annexation.

• Property Taxes: Revenue up >30% in all the major counties over the past few years.
• Anywhere you go in the state, appraisals are up at least 15% annually.
• School districts have to hold tax ratification elections past a certain threshold; you need a similar mechanism for cities and counties.
• Current rollback petition requirements "are fictitious nonsense."
• Rollback rates have been >5% since Jimmy Carter.
• Bettencourt supports 0% rollback rate but doesn't currently have the votes.
• Texas currently chasing New York and Illinois on property tax burdens.

• Tree Bill: Heritage trees add value to property, so cutting them down is rare, but in the cases where it's necessary it's none of the government's business.
• Westlake tried to fine a property owner $100k for cutting down a tree on his own property.

• Expedited Permitting: Workman's bill states that cities can have expedited permitting, but doesn't allow them to add strings to the process.

#TXLEGE: New York Times praises Joe Straus....

Do not be deceived: “Evil company corrupts good habits.”
1 Corinthians 15:33

Late last week, the New York Times published an op-ed from the Center for Public Policy Priorities, an intellectually underwhelming local left wing think tank that has nevertheless emerged as a key cog in House leadership's machine.  Mostly, the piece sells hysteria about the Senate's relatively modest (albeit postitive and productive) agenda.  But the following bit is choice:

As a veteran local lobbyist joked recently, the only thing standing between Texas and the Middle Ages is the House, ably presided over by Speaker Joe Straus, Republican of San Antonio. In contrast to the Senate’s far-right agenda, the House’s common-sense priorities include remodeling our outdated school finance system and advancing mental health reforms. It remains to be seen whether moderates in the House have the votes to stop all the bad bills coming their way from the Senate.

[Author's Note: Emphasis added.]

Read the whole thing here.

Bottom Line: While the "Senate good/House bad" narrative can be a bit of an oversimplification at times...Joe Straus is the only person at the Capitol being praised in the New York Times.

Texas: Future Headquarters Of Bitcoin

"The threshing floors shall be full of wheat,
And the vats shall overflow with new wine and oil."
Joel 2:24

Astonishing and exciting news about the convergence of BITCOIN and good economic policy in Texas:

When it comes to creating jobs, don’t mess with Texas. The state has had stronger job growth over the last 13 years than any of the other 49 states, and even though the state will soon have a new governor, Texas will continue to be poised as a leader in job growth, while other states stifle innovation with regulation.

Here’s why:
Texas has embraced companies with a clear regulatory environment and that is not just for big oil. Texas is home to a large aerospace industry and a booming technology sector that could take bitcoin to the moon. You may think California is the bitcoin capital of the world and it is in terms of investment and innovation, but bitcoin companies are considering moving from Silicon Valley to the Silicon Prairie and Silicon Hills for the lower costs of doing business and tax incentives. Texas is ranked 11th on the State Business Tax Climate Index for 2014, while California is 48th and New York is dead last.

Dustin Trammell, Bitcoin Venture Capitalist and entrepreneur, says that “Given the contradictory guidance regarding Bitcoin regulation that’s been provided by U.S. Federal agencies, and no desire by the Fed to settle the differences, how to handle Bitcoin is being worked out by some states.”

This is where the opportunity lies. While some states have said that virtual currency regulation already falls within the scope of existing regulations, others have suggested the need for new virtual currency specific regulations such as New York Department of Financial Services’ (DFS) BitLicense.

Many prominent figures and businesses in the Bitcoin community have already come out against Ben Lawsky, the unelected superintendent of New York’s Department of Financial Services, for his proposed BitLicense. These industry leaders and companies include Circle CEO Jeremy Allaire, Xapo CEO Wences Casares, Coinbase and Max Keiser, among more.

While New York seems to be pushing away bitcoin business, others states, like Texas, are seeing this as an opportunity to bring more jobs to their state.

Government:
Texas offers $19 billion in tax incentives to businesses, the highest of any state, and has low taxes. Last year, Texas recorded a 5.5 billion dollar budget surplus.

Greg Abbott, Texas’ Republican Gubernatorial Candidate, who is positioned to be the next governor, is accepting bitcoins for his campaign and will likely be one of the first governors to win an election accepting bitcoin.

“I made the decision to accept Bitcoin because I believe that it represents the free-market economic principles that make Texas a national leader in innovation and entrepreneurship. As Governor, I will keep taxes low, government small and reduce regulations so Texas’ booming technology sector will continue to flourish,” said Abbott.

Abbott is leading in the polls by a 12.6 percent margin, a sizable lead considering there is only one debate left on September 30. Abbott has served Texas as Attorney General since 2002 and knows the potential bitcoin can bring to his state.

Texas has a strong technology friendly history. Jack Kilby invented the integrated circuit while working at Texas Instruments in Dallas in 1958. Texas played a large part in the dot com era, and it hosts large technology companies like Dell and Texas Instruments. Texas can also support these businesses with a highly skilled workforce with the roughly 578,000 students enrolled in Texas’s 36 largest universities. These veterans from the dot com era along with a growing educated workforce will play a major role in Texas’s Bitcoin future.

US Representative Steve Stockman (TX-36) is also a public supporter of bitcoin. Rep. Stockman was the first Member of Congress to introduce a piece of Bitcoin legislation back in May 2014. The Virtual Currency Tax Reform Act aimed to treat virtual currencies as currency instead of property for federal tax purposes.

“It’s good to see Attorney General Abbott embrace virtual currencies like Bitcoin. It’s an emerging technology, and one that opens the doors for small businesses to sell globally. Texans have always embraced innovation. We created the modern economy by giving birth to the petroleum revolution, we led the world into the space age and now Texans are at the cutting edge of economic evolution,” said Rep. Stockman.

Bitcoiners:
Regardless of political affiliations, most bitcoiners would like to see the advancement of Bitcoin technology and the values Bitcoin represents. The fact that many political figures are taking their stances on Bitcoin by accepting seems promising.

“As a Bitcoin enthusiast living in Texas, I am encouraged when our leaders and representatives support Bitcoin and encourage the development of technologies based on the blockchain. Keeping regulations reasonable will insure Texas will be at the center of developing this new technology,” according to Paul Snow, President of the Texas Bitcoin Association.

While accepting bitcoin for political contributions is a great first step, what the Bitcoin community really wants and needs is smart regulation that promotes the acceptance and use of digital currencies. After all, actions speak louder than words.

“If a politician wants to be serious about promoting and normalizing using Bitcoin, he or she will introduce legislation which allows me to pay for my property taxes and parking tickets with it. That would be much more beneficial to me, the citizen taxpayer, instead of merely benefiting a candidate’s campaign,” said Tod Beardsley, Engineering Manager at Rapid7, Dogecoin Shibe.

Being able to pay taxes in bitcoin would certainly be a game-changer, but is not anywhere on the US government’s agenda. However, the Isle of Man’s chief executive of economic development said that residents of the Isle could soon be able to do just that.

Texas vs. New York
One thing is for sure: New York’s proposed BitLicense companies will look at Texas’ regulatory environment and lower cost of living, and set up business because of the reduced barriers to entry.

“In some cases, the contrast between these various laboratories of economics are becoming quite stark, such as between economically conservative and even libertarian leaning states like Texas versus states like the New-York-nanny-staters and their proposed BitLicense,” said Dustin Trammell, Bitcoin Venture Capitalist & entrepreneur.

....

There are a lot of applications bitcoin can be used for and Texas’s bitcoin community will surely take advantage of them. From financial services to solving problems associated with The Internet of Things, entrepreneurs are finding use cases for bitcoin wherever they can.

“Austin is home to quite a number of Bitcoin startups, and even one of the few established regional Bitcoin conferences, the Texas Bitcoin Conference held every March in Austin, Texas. We have the momentum here in Texas, and we want to build on that, not suppress it with counterproductive regulation,” according to Paul Snow.

One problem bitcoin can solve in Texas is to help the vast amount of the population that is unbanked. Texas is ranked fifth in the country for having the largest percentage of unbanked and underbanked residents: 11.7% of Texas’s population is unbanked and 24.1% is underbanked.

 Read the whole thing here.

Truth about Local Government Debt in Texas

Over at City Journal, Steve Malanga has a fantastic primer on local government debt in Texas:

While Texas’s state government debt is relatively modest—just $40 billion, or $1,577 per resident—local government debt is more than four times higher: $192 billion. That’s $7,505 per capita, according to Combs’s report—the second-highest sum in the nation, behind only New York’s municipalities and far ahead of third-place California’s. Over the last decade, moreover, local debt has increased 144 percent, much faster than the rate of population increase plus inflation.

Some of this debt stems from voters’ willingness to spend their prosperity on municipal-finance baubles, bangles, and beads. In Texas, that means huge expenditures by local school districts on athletic facilities. When I attended a legislative conference in Texas last summer, the talk was all about the $60 million high school stadium just opening in Allen, a Dallas suburb of 83,000 residents. The 18,000-seat facility, which boasts a massive, high-definition TV screen, was built with funds from a $119 million bond offering in a state where high school football is a consuming passion.

....

Not surprisingly, debt owed by public school districts constitutes the biggest chunk of the state’s soaring local obligations. Over the last decade, it has increased 155 percent, even as the state’s student population has grown just 21 percent. And the fastest-growing part of Texas school budgets is debt service, which has gone up by 126 percent in ten years, to $5.5 billion. Payments on debt now constitute 10 percent of school spending, up from 7 percent a decade ago.

Debt is also growing rapidly among the state’s 81 retirement systems for local-government workers. Not only are these systems poorly funded; it isn’t even clear how much some owe, since they haven’t disclosed the financial information necessary to verify their financial position, even to state oversight officials. After an extensive survey of municipal pension systems, Combs determined that none of the local plans was fully funded and that only 19 percent had 80 percent of the funds on hand to meet future obligations.

....

Facing this growing debt load, some state officials are urging reform. Combs worries that residents don’t understand how much debt is piling up. She advocates greater transparency and has proposed that ballot initiatives seeking voter approval for new debt include comprehensive information about the obligations that government already owes. She has also pushed for laws limiting government uses of the types of debt that don’t require voter approval. [Emphasis Ours]

 In a separate piece, Malanga details common shenanigans:

As in Cook County, so many different levels of government in Texas can issue debt that taxpayers, bewildered by the complexity of it all, let overlapping districts keep on borrowing. As an example, Combs describes how the residents of a single Houston block must repay debt incurred by the county, the city, the city’s school district, and Houston Community College, among other entities. “I went to dozens of town hall meetings around the state, and when I asked, not a single member of the public knew just how much people in their towns were on the hook for,” she says.

Texas, like New York, amassed all this debt by pushing the limits of the law. Though taxpayers must approve most government borrowing, Texas provides an exception for localities that need to issue debt quickly: a “certificate of obligation,” borrowing that doesn’t require approval unless 5 percent or more of local voters petition to have a say on it (a rare occurrence, since most don’t even know that they have that power). Since 2005, Texas localities have issued nearly $13 billion worth of these certificates, often for dubious ends. In 2010, for instance, Fort Worth borrowed nearly $35 million through certificates of obligation to build a facility for horse shows.

Texas school districts have made use of another controversial financing technique: capital appreciation bonds. Used to finance construction, these bonds defer interest payments, often for decades. The extension saves the borrower from spending on repayment right now, but it burdens a future generation with significantly higher costs. Some capital appreciation bonds wind up costing a municipality ten times what it originally borrowed. From 2007 through 2011 alone, research by the Texas legislature shows, the state’s municipalities and school districts issued 700 of these bonds, raising $2.3 billion—but with a price tag of $23 billion in future interest payments. To build new schools, one fast-growing school district, Leander, has accumulated $773 million in outstanding debt through capital appreciation bonds. [Emphasis Ours]

 Both pieces are worth reading, here and here.

(h/t American Spectator)

Do New York Jets support Islamic Terrorism?!?

As a lifelong fan of the New York Jets, Cahnman's Musings was disappointed and disturbed to read this report from Breitbart Sports yesterday.

Last April, the Jets used their fifth round draft pick to select Oday Aboushai, a Palestinian (*) offensive linemen who was born in Samaria and grew up in Brooklyn.  While Aboushai possesses physical stature, he lacks athleticism.  The football justification for this pick is questionable.

Aboushai's life off-field, however, includes the following:

• Denying Israel's right to exist

• Helping to raise money for a money-laundering Hamas front-group.

• Attending a conference whose organizers have praised Hitler and denied the Crucifixion.

 This is an alarming draft pick.  The Jets owe fans an explanation, especially after their shameful treatment of Tim Tebow.  It appears the New York Jets are more concerned with faithful Christians than open terrorist sympathizers.

-----

Cahnman's Musings urges readers to contact the following institutions:

New York Jets:
Facebook: www.facebook.com/jets
Twitter: @NYJETS

National Football League:
Facebook: www.facebook.com/nfl
Twitter: @NFL

WFAN Sports Radio New York:
Facebook: www.facebook.com/wfan660
Twitter: @WFAN660

New York Post:
Facebook: www.facebook.com/nypost
Twitter: @NYPOST

New York Daily News:
Facebook: www.facebook.com/thenewyorkdailynews
Twitter: @NYDAILYNEWS

[NY Jets Owner] Robert Wood Johnson Memorial Foundation:
Facebook: www.facebook.com/RobertWoodJohnsonFoundation
Twitter: @RWJF_PubHealth

Council on American-Islamic Relations -- New York
Twitter: @CAIRNewYork

2 Chronicles 7:14 and Hurricane Sandy

"If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then I will hear from heaven, and will forgive their sin, and will hear their land." 2 Chronicles 7:14

"For God sent not His Son into the world to condemn the world; but that the world through him might be saved." John 3:17 

"And we know that all things work together for good to them that love God, to them that are called according to His purpose."  Romans 8:28 

I was  going to write a political piece about the chaos in Brooklyn, Staten Island, and New Jersey, but the political problems are obvious; I want to say something else.

The solution is humility, not defiant pride.

New York is great at defiant pride.  New York was defiantly proud after 9/11.  New York continues to be defiantly proud.  How's that working out?!?  The economy still sucks, people are eating out of dumpsters, and the Yankees have only won the World Series once since 9/11.

No government activity or politician will solve this; not even Rudy.  The only way out of this is through our churches.  In humility there is hope, but defiant pride will continue to bear bitter fruit, and it will get worse.

That being said, pray for Michael Bloomberg.  We're stuck with him for another year.  As much as I agree with Glenn Beck's sentiment, potty mouthed tirades won't help.  Michael Bloomberg needs a radical change of heart, and there's only one way that will happen.  What's the alternative?!?

One final note: if you play fantasy football, I have a funny feeling that this could be a really good week to start Tim Tebow....

9/11 and Rudy Giuliani Idolatry

"Truly my soul waiteth upon God: from him cometh my salvation./He only is my rock and my salvation; he is my defence; I shall not be greatly moved" Psalm 62:1-2

Today is the eleventh anniversary of 9/11; on this occasion, I want to comment on the biggest mistake our nation made in it's aftermath.

We didn't turn back to God.

One of the great cliches in life is that adversity doesn't build character, adversity reveals character.  The cliche is still true.  After 9/11, our nation plunged deeper into the idolatry that already plagued us.  Church attendance spiked briefly, but didn't last.  Far too many of us were more interested in shopping and baseball; we placed our faith in politicians.

Rudy Giuliani is the best example.  No one (credible) disputes that Rudy acted heroically during and after 9/11.  Rudy's calm, stoic leadership helped prevent a panic, which could have been worse than the attack.  Rudy brilliantly finessed the transition from a rescue mission to a recovery operation.  I still get choked up thinking about Rudy and the funerals.  Unfortunately, instead of getting on our knees and thanking God for blessing us with a leader like Rudy Giuliani, we built Rudy into an idol.

In my own life, I turned the New York Yankees into an idol.  Where I had previously been a fan, after 9/11 the Yankees became an unhealthy obsession.  The results speak for themselves.  The Yankees lost the 2001 World Series.  Except for 2009, they've endured a stagnant decade.  Heck, they even lost to the Red Sox.  Lesson (belatedly) learned.  Baseball teams are a hobby, NOT a substitute for Him.

It's not exactly a secret that things haven't gone as planned since 9/11.  From Iraq, to Katrina, to the 2008 financial market crisis, to Obama's spending and debt, to the horrific situation on our border, it's just not working.  While we absolutely need better public policies and higher quality leaders, step 1 is our personal relationship with God.

Fortunately, it's never too late with God: if we follow the instructions in 2 Chronicles 7:14, then He will bless us with 2 Chronicles 14:7.

Lou Gehrig's Farewell Address at Yankee Stadium

I almost forgot that today was the anniversary:

EXCLUSIVE: Ted Cruz on Elena Kagan, Eric Holder, the Federal Administrative State, and Energy Development

Today, I had an interview with Texas U.S. Senate Candidate, Ted Cruz.  Audio here:



I'll (hopefully) do a detailed write up over the next few days, but here are the highlights:

• Ted Cruz wants to serve on the Appropriations and Judiciary Committees.
• We discussed Justice Elena Kagan and questions surrounding the propriety of her hearing the Obamacare case.
• We discussed the ongoing Fast and Furious scandal, for which his campaign has produced this video:

• The bottom line for Ted Cruz on both Elena Kagan and Eric Holder is that all administrations need to be held accountable for their actions and that accountability 'certainly could' extend past January 20th of next year.
• We discussed the growth of the administrative state and what Ted Cruz intends to do about it.  Ted Cruz supports legislation called the REINS Act that will require an affirmative vote of Congress before any Federal Regulation with an economic impact over $100 million goes into effect.
• Finally, we discussed energy development and the controversy over fracking.  Ted believes that, in the unlikely event Barack Obama is re-elected, he will actively seek to ban fracking.  Being from New York originally, this issue hits home for me.

I'll (hopefully) get to do a longer write-up in the next few days, but in the meantime enjoy and share at will!!!