Federation of Connecticut Taxpayer Organizations

Grim figures released on high school graduation rates By Jacqueline Rabe Thomas� CTMirror.org Two reports released Thursday give disappointing figures in two key categories in Connecticut education: the number of students dropping out of high school, and the number of high school graduates who go on to college.And, the reports are accurate -- unlike those released for years that were accused of being based on "funny math." The State Department of Education, using a more reliable accounting system than in the past, reported that 80 percent of students in public high schools are graduating on time. For years, the department reported that figure at more than 90 percent �� "States across the nation, as well as Connecticut, were not wanting to admit just how many students were dropping out. You cooked the books to boost your rates," said Patrick Riccards, executive director of ConnCAN, a New Haven-based education reform group. Earlier this year, his group called the state out in a report for using "funny math" by reporting thousands of students graduating who did not��. when the Board of Regents for High Education's P-20 Council went to verify if the students made it to college, just 67 percent to 73 percent were found to be enrolled in college after using more than just intent-to-enroll surveys, according to its report, also released Thursday.

Read the entire report at �� http://ctmirror.org/story/14927/expected-graduation-rates-drop-drastically

How the state responds to five challenges is key

Deep water ports like New London's are being eyed for economic development

�(Sean D. Elliot/The Day)

Economists explain how state can influence economy in 2012

Oil industry: 'Huge political consequences' if pipeline rejected �Andrew Restuccia�� 01/04/12 01:16 PM ET A top oil industry official delivered a clear warning to President Obama Wednesday: approve the Keystone XL pipeline or face �huge political consequences.� American Petroleum Institute President Jack Gerard urged Obama to quickly approve the pipeline, which would carry oil sands crude from Alberta, Canada, to refineries along the Gulf Coast.�� A payroll tax cut package signed into law by Obama last month includes a GOP-backed provision requiring the president to make a final decision on the pipeline within 60 days.� Continued at �.. http://thehill.com/blogs/e2-wire/e2-wire/202359-oil-industry-keystone-rejection-will-have-huge-political-consequences-for-obama

Food aid probe shows scope of state's powers �Stamford Advocate Brian Lockhart, Staff Writer� Updated 10:15 p.m., Sunday, January 1, 2012 ��They might not have realized it, but when around 24,000 households claimed eligibility for low income emergency aid after Tropical Storm Irene they granted state officials extraordinary powers to audit their finances for fraud�.. Rumors soon began to circulate the D-SNAP funds -- $700 per household on average -- were being distributed to individuals of means who saw a chance to game the system. DSS initially downplayed fraud allegations. But in early December Malloy's administration announced it was scrutinizing hundreds of state workers whose payroll records are easily accessible. As of last week Malloy's office has forwarded the names of 44 suspected state employees to their department heads for possible disciplinary action. Meanwhile, some legislators have been publicly urging the administration to start casting a wider net for cases involving the private sector. On Tuesday, the administration confirmed to Hearst Connecticut Media Group it was expanding the audit but was unclear how that could be done based on the limited information D-SNAP applicants provided. Read complete article at �.. http://www.ctpost.com/news/article/Food-aid-probe-shows-scope-of-state-s-powers-2435723.php

HHS rejects looser insurance rules in two states By Sam Baker�� Jan 4, 2011� The Health and Human Services Department on Wednesday denied two more states' requests to soften new rules that govern insurers' spending. HHS denied Kansas's and Oklahoma's requests for adjustment to the healthcare law's medical loss ratio (MLR) provisions. The law requires insurers selling policies to individuals to spend 80 percent of their premiums on medical costs, with the remaining 20 percent for profit and administrative costs.� Continued at �. http://thehill.com/blogs/healthwatch/health-reform-implementation/202363-hhs-rejects-looser-insurance-rules-in-two-states

Bankruptcies to double By Maureen Farrell @CNNMoneyMarkets January 4, 2012 �. Expect more high-profile and midmarket companies to follow American Airlines into bankruptcy court in 2012�.. Expect the number and size of corporate bankruptcies to double in 2012. At least that's what Fitch Ratings is saying and experts seem to agree that more will be coming down the pike��Restructuring doesn't necessarily mean bankruptcy but Fitch predicts defaults among all corporate bonds will rise to roughly 3% this year, up from 1.4% in 2011 and 1.3% in 2010.� Continued at �.. �http://money.cnn.com/2012/01/04/markets/bankruptcies_2012/index.htm?iid=HP_Highlight

Why Not �Occupy� Public Sector Pension Funds?�� A CIV FI post back in January 2010 entitled �Axis of Wall Street & Public Sector Unions� identified an irony still lost on the occupy movement�s rank and file � Wall Street is financed by the pension funds of unionized government workers. Every year, taxpayer funded government agencies pour hundreds of billions of dollars into Wall Street investment funds. ��Continued at �.. http://civfi.com/2011/11/21/why-not-occupy-public-sector-pension-funds/

Fed to Give Regular Interest Rate Updates (WASHINGTON) By AP / MARTIN CRUTSINGER Jan 3, 2011 � The Federal Reserve will start updating the public four times a year on how long it plans to keep short-term interest rates at record lows, according to minutes from its December policy meeting. The first forecast will be included in the central bank's economic projections after its Jan. 24-25 meeting, the minutes said. (See TIME's video: How the Federal Reserve Works) Continued at �.. http://www.time.com/time/nation/article/0,8599,2103566,00.html

Ben Bernanke Offers A Game-Changing Recommendation For The Housing Industry� Turn foreclosed properties into rentals Simone Foxman | Jan. 4, 2012 A white paper (via @carney) sent from Ben Bernanke to the chairs of the Senate and House committees of banking and financial services and released today is not just a subtle nudge at Congress to do something to address lingering weakness in the housing industry. For the generally tight-lipped Federal Reserve, this sounds a lot like a call to action.� In the release, the Fed suggests that the government find a way to convert a significant segment of the stock of real estate owned properties (REOs)�essentially, properties held by banks or other institutions after foreclosure�into rentals. While it refrains from making specific policy recommendations, it emphasizes the importance of doing something to help bear the burden of reviving the housing industry.� Continued at �.. http://www.businessinsider.com/bernanke-to-congress-housing-foreclosures-2012-1

Bundling money for influence still out of sight �By Craig Holman and JoAnna Suriani - 12/14/11 07:03 PM ET�� The Federal Election Commission rarely fails to disappoint. The agency has proved ineffective once again, this time in its neglect of reporting and disclosure of �bundled� campaign contributions. Continued at �.. http://thehill.com/opinion/op-ed/199517-bundling-money-for-influence-still-out-of-sight-

Finch assailed over raise proposal

Keila Torres Ocasio, Connecticut Post �Keila Torres Ocasio, Staff Writer

Wednesday, January 4, 2012 BRIDGEPORT -- Why can funds be found for political appointee raises, but not for school books or to retain laid-off union workers? That was the question repeated by nearly all speakers Tuesday during a public hearing on Mayor Bill Finch's proposal to increase salary ranges for political appointees and elected officials, some of whom make more than $100,000. Continued at �.. http://www.ctpost.com/local/article/Finch-assailed-over-raise-proposal-2439790.php

Conn. school funding changes examined SUSAN HAIGH, Associated Press �Tuesday, January 3, 2012 �HARTFORD (AP) -- A panel created by Gov. Dannel P. Malloy is considering major changes to Connecticut's largest grant program for public schools, such as using more accurate data to determine a city or town's poverty level. �The proposals are included in a draft list of preliminary recommendations from the Education Cost Sharing Task Force obtained Tuesday by The Associated Press. �The panel is also looking at ways to fund magnet schools more equitably. One proposal would exclude students living in college dorms and prison inmates from population counts when calculating a town's per capita income. The task force is also considering ways to more accurately determine grant amounts. Continued at �.. http://www.ctpost.com/local/article/Conn-school-funding-changes-examined-2438985.php

$7.7 trillion to Wall Street - Anything to keep the Banksters Happy!

By Thom Hartmann (about the author)�� opednews.com Do you know who Elizabeth Duke is? How about Donald Kohn or Kevin Warsh? No? Well - you should. Because while Congress was debating back in 2008 whether or not to bailout Banksters with a $700 billion blank check - these guys and girls were just doing it. They were funneling $7.7 trillion to Wall Street under the table - without one constituent phone call - without worrying about one election - without having to give one explanation. They were able to do that because they're members of the Federal Reserve Board of Governors - a group of people who are not voted into office - but have the power to completely dictate monetary policy in America. They are not politicians - they're technocrats - they're bankers and financial experts. Technocrats aren't interested in democracy - it takes too long and often the interests of the majority of voters doesn't quite line up with the interests of the minority of bankers and foreign investors. Or - to put it in today's terms - the interests of the 99% rarely line up with the interests of the 1%. That's why - back in 2008 - the Technocrats at the Fed weren't interested in waiting for Congress - with all of its open debate and constituent services - to bail out the banks - they just went ahead and did it themselves. According to documents obtained by Bloomberg News - in 2009 - the Fed dished out $7.7 trillion in no-strings-attached, super low interest loans to Wall Street's biggest players.
That's $7.7 trillion!� Read complete article at http://www.opednews.com/articles/7-7-trillion-to-Wall-Stre-by-Thom-Hartmann-111129-160.html

HHS gives states flexibility on health law's "essential benefits"

By Kaiser Health News ��Dec 17, 2011 6:15am ��States will be given wide latitude to decide what "essential benefits" insurers must offer in their health policies come 2014, the Obama administration said Friday in a move that pushes off final federal rules on the topic until an unspecified date.� Essential benefits, which must be offered by insurers in most policies sold to individuals and small businesses, are one of the key flash points in the federal health law. Patient advocates have called for a broad national standard covering a wide range of treatments, while business groups have said affordability must be a top consideration, even if it means a more limited package.� The long-awaited guidance gives states four choices for designing a benchmark insurance package. Continued at �. http://www.ctmirror.org/node/14834