Why Did the Transit Referendum Fail? And What's Next?

In case you have not had the chance to read about last night’s election results, the Hillsborough County Transportation Sales Tax Referendum failed to pass by a vote of roughly 58% to 42%. Indeed, it is very disappointing news to all of us. I want to thank you for your support and hard work during the past year. Although this single referendum failed, we succeeded in engaging hundreds of young professionals and spreading the message that public transit truly matters to our quality of life and economic development opportunities.

However, we are not giving up on our efforts to encourage an economic and physical environment that creates opportunities for young professionals. There are other initiatives and issues which we can accomplish, and that work begins today. But first, I’d like to weigh in on some reasons why this referendum might have failed and perhaps provide some insight into how we can improve upon our foundations.

The current economic climate is very discouraging. I do not blame anyone for being extremely concerned with how the government is spending tax dollars and their desire to keep more of their own hard-earned money. As supporters of this referendum, we knew that anti-tax sentiment was at an all-time high, and rightly so. The lesson we should learn from this is to refine our message. Voters must clearly understand the benefits to the local economy. They must be able to differentiate between “federal waste” and local investments which have a greater effect on their daily lives than most federal spending programs. We cannot simply say “jobs, jobs, jobs”. We have to explain how the process of economic development creates jobs, how the movement of people and goods affects commerce, how transit oriented development works, and how livable communities attract educated professionals and entrepreneurs. The benefits must outweigh the costs in voters’ minds.

2) The specific routes and costs of the projects were not finalized. Taxpayers have a hard time rationalizing an investment when they do not know exactly what they are paying for and how much it costs. Unfortunately, HART’s alternatives analyses were not completed in time for the election. We were unable to tell voters precisely where new routes would go and how exact costs would be structured. In future ballot measures, we need to be sure the public understands the specifics. The best decision is an informed decision.

3) Voters outside of central Tampa were not aware of the potential benefits. Have a look at the results by precinct from the Supervisor of Election’s website: http://results.enr.clarityelections.com/FL/Hillsborough/22912/39204/en/md.html?cid=8035

The green areas indicate precincts where the referendum passed, the red areas are where it was rejected. It is evident that we failed to reach voters outside of Downtown, South Tampa, and the I-275 Corridor. We need to effectively communicate the benefits of transit to those who might not be serviced by light rail. Bus service, road work, and future commuter rail would service them. Also, transit reduces their traffic congestion, preserves green space and low-density communities by focusing high-density growth around transit stops, and encourages economic development across the county, not just in one area.

4) Either young professionals did not turn out to vote, or they were opposed to this referendum. I have not yet found exit polling to support this assertion, but I believe many young people did not vote in Hillsborough County (which historical evidence usually confirms). According to the Census Bureau, the median age of the county is 36.6 years old, and those aged 20-34 represent 20.3% of the total population. Ages 35 and over represent 52.4% of the total population. According to the Supervisor of Elections, voters aged 18-29 represent 19.8% of all registered voters. That means voters over age 30 comprise 80% of all voters. (I know the data ranges don’t all match up, but that’s what was available.) Those figures mean that Hillsborough is a fairly young county, but a higher proportion of the middle-aged and elderly population actually vote. This is similar to national trends, and seems like common knowledge, but it shows that we have our work cut out for us. The demographics we tried to reach were the 18-35 year old college students and young professionals. I believe we greatly succeeded in connecting to our “base”: young professionals who were already involved in community/business organizations. However, we need to reach young people who are not plugged into their communities. That is a difficult and daunting task, but I know that we have the right message and can win them over with the right strategy. Until otherwise proven wrong, I refuse to believe that the majority of young professionals are opposed to initiatives that so obviously benefit our generation. The real challenge is engaging them.

Yesterday’s referendum may not have succeeded, but it does not mean our ideas have failed. We are unified in our desire for a better Tampa Bay region. I have no doubt that we will achieve our goals in spite of setbacks and naysayers. Thank you again for your support, and let’s continue down the path to a promising future.

If you have any comments on the election, suggestions for strategy, or just random thoughts, please send them my way.

Run, Mitch, Run!

http://www.indystar.com/article/20100910/NEWS08/9100340/Tully-All-signs-say-Daniels-running-for-president

WaPo interview with Daniels on his proposed "emergency growth plan":

http://voices.washingtonpost.com/ezra-klein/2010/09/mitch_daniels_we_all_share_a_c.html

WaPo: High Unemployment is Structural, Get Used to It

http://www.washingtonpost.com/wp-dyn/content/article/2010/09/07/AR2010090706644.html?hpid=topnews

College Football Season Is Here!

Hilarious summary of this year's Top 25:

http://deadspin.com/5620076/the-2010-haters-guide-to-the-top-25

Iraq Results Very Positive, But Handle With Caution

http://www.nytimes.com/2010/08/31/opinion/31brooks.html?_r=1&ref=davidbrooks

Immigration Enforcement in Rhode Island

Here is an interesting story: http://www.bostonherald.com/news/opinion/op_ed/view/20100707bad_posture_on_amnesty_funny_how_feds_lean_on_ariz_not_ri/

Apparently Rhode Island has been practicing the same enforcement of illegal immigration that Arizona is attempting to do. I'm not sure whether RI has different legislation or if they simply enforce federal law, but they seem to have evaded federal scrutiny to this point. Something worth looking into...

I'm Convinced that Corrine Brown is a Member of MENSA

Our nation's most brilliant legislator strikes again. When speaking out against the movement to end gerrymandering (the practice of shaping districts to favor a particular demographic), Rep. Brown said this:

"Do you know who Gerry Mandering was? He was a white legislator that had a lot of power," she was quoted as saying. "And what we want to make sure is everybody has a fair opportunity to have representation in the United States Congress. In the House, the Senate, the city council and the school boards."

Gerry Mandering? Actually, Massachussetts Gov. and former U.S. Vice President Elbridge Gerry in 1812 signed into law a district that was said to look like a salamander. That's where the term gerrymander took root.

Here is a map of Brown's district, which includes portions of 9 counties. I believe it appears next to the term "gerrymandering" in the common dictionary.

My Man Mitch: Daniels 2012

If you're like myself, or millions of other disillusioned Americans, you are painfully counting down the days, like Tom Hanks in the movie Castaway, until we have the opportunity to vote for a new president in 2012. In fact, I think we're all chomping at the bit to vote for anybody new, anytime soon.

That being said, a lot of speculation and straw polling is going on about who the GOP's presidential nominee will be. Several people have been lining themselves up early to take a stab at it: Tim Pawlenty, Mitt Romney, John Thune, Sarah Palin, Haley Barbour, etc. One name that has been tossed around (and which I've paid particular attention to) is Indiana Governor Mitch Daniels. While he has not taken many visible steps to set himself up for a run, I'm going to go out on an early limb: Mitch Daniels is the right man for the job.

Indiana has gone from having a state budget deficit to a budget surplus, created jobs, and expanded capital investment in the midst of a major economic downturn. Although Daniels has the TV-friendly charisma of a bologna sandwich, he has a lifetime of achievements in the public and private sectors. This guy is the anti-Obama, and it's not just for show.

Common Since: Where can we find someone capable of setting straight Washington's gluttonous taxing-and-spending-rollercoaster-of-doom? How about a plain ol' Midwestern governor who has actually already accomplished exactly what needs to be done. My Man Mitch. Let's draft him.

This Weekly Standard profile of Daniels is a MUST READ.

A Little Insight into the Financial Reform Bill

http://www.forbes.com/2010/05/24/financial-reform-economy-tarp-opinions-columnists-william-m-isaac.html?boxes=opinionschannellatest

United States of Government Dependence

How to Pay Down the Debt

How do we pay down the public debt? "Economic growth, duh." is the conclusion of columnist James Pethokoukis. That's easier said than done and requires an ideal public and private economic environment. But his Weekly Standard article makes some valid points on why other solutions wouldn't work.

Put Transit Tax on the Ballot in Tampa!

Here is a St. Pete Times editorial that logically and reasonably states why the one cent transit tax should be placed on the ballot this fall: http://www.tampabay.com/opinion/editorials/article1094220.ece

Tomorrow night (5/13) at 6:00 PM, there is a Hillsborough County Commission public hearing at the All Peoples Life Center at 6105 E. Sligh Ave. in Tampa. Please show up to voice your support for this ballot measure and the need for transit alternatives in Tampa.


For more information, check out:

http://www.movinghillsboroughforward.com/

and

http://transitiontampabay.org/

GOP Convention 2012

Sources say the GOP is likely to hold their 2012 convention in Tampa, which is one of the three finalists being considered. Whether you are a Republican or not, this is welcome news for the local economy and national image of Tampa Bay.

http://www.politico.com/news/stories/0510/37129.html

Obama Can Succeed

While I am greatly dismayed at how the actions of the Obama administration and the Democratic Congress have ballooned the federal deficit and expanded entitlements, I retain hope for the best results for our nation. The Democrats have at least another 9-10 months of control of Congress (assuming they lost the majority in the mid-terms) and Obama has another 3 years left in this term. The health care debate and passage was a waste of a year's worth of political capital and momentum. Whether or not it gets repealed is not my current concern.

I would like to see the Democrats use the rest of their period of guaranteed control to focus on things that really matter to the American people by taking measures to reduce the deficit, cut unnecessary spending programs, and help the private sector put the economy back on track. As a Republican, I could focus my energies on efforts parallel with the Republican leadership: trashing the Democrats, screaming "Repeal!", and embracing the difficult-to-define Tea Party movement. However, I will not. I want to encourage Red and Blue to work together to serve the interests of the greater American public. Don't forget: it's the economy, stupid.

Some others that haven't forgotten this include a few Democrats, who hope that Obama/Pelosi/Reid wisen up and use their current majorities to do something of real significance. Sure, effectively governing and enacting popular legislation would probably shift the tide of public support toward the Democrats and hand them the fall election. But I'm okay with that as long as whomever is in power delivers results that the country needs.

Common Since: Do I think the above prediction is a pipe-dream? You bet your ass I do. The Democrats are delusional with power as if they're on an all-you-can-drink whiskey & coke night at a college bar. Although you can't blame a guy for holding about a little hope, can you?

Warning: Graphic Images!

http://nationalaffairs.com/publications/detail/america-in-the-red

Let Mortgages Fail

Here is a convincing argument to let mortgages fail and foreclosures to continue: http://www.realclearmarkets.com/articles/2010/03/30/lower_prices_more_foreclosures_will_solve_housing_98397.html

You have to let market forces take effect. There is no possible way for the government to subsidize people to stay in homes long enough to recover the value they've lost in the recession. Lower home prices, lower property values, and a balancing of housing inventory is a good thing. Over-supply and inflated values need to be combated, but artificially propping them up with government spending will not help them permanently stabilize. Many families have been hit hard, and many have declared bankruptcy. But unless the market truly balances itself, these trends will continue.

I Could Support This

"New College Graduates To Be Cryogenically Frozen Until Job Market Improves"

http://www.theonion.com/articles/new-college-graduates-to-be-cryogenically-frozen-u,17034/

There Are Alternatives...

We're all aware that the partisan circus in Washington is never-ending. Democrats constantly accuse the Republicans of standing in the way of their legislation without producing any alternatives; they are "The Party of No." That is true about certain conservative leaders and pundits, but the facts have been overlooked. Several Republican leaders have produced alternative legislation for everything from health care to environmental policy.

Rep. Paul Ryan (R - Wisconsin) drafted "A Roadmap for America's Future" back in January, but it has received little attention until the last few weeks. It is a fairly comprehensive plan aimed at reducing the deficit and controlling government spending, a rebuttal to the deficit-engorging Democratic bills currently working their way through Congress. Unfortunately, I don't have the time to analyze the Roadmap piece by piece, but I will give you the link so you can look it over for yourself. While it is most likely an imperfect plan (just like all other legislation), the Congressional Budget Office has checked the numbers and verified that it would actually do what it claims to do. That is a Washington miracle. Whether or not you agree with the hefty spending reductions and Reaganistic tax cuts is up to you. But you should know that there are alternatives...

http://www.roadmap.republicans.budget.house.gov/UploadedFiles/Roadmap2Final2.pdf

http://money.cnn.com/2010/03/04/news/economy/paul_ryan.fortune/index.htm

TRANSITion Tampa Bay In the News

Our young-professionals-for-transit group, TRANSITion Tampa Bay, was featured in Robert Trigaux's column in the St. Petersburg Times today (see below). We're building some great momentum. Help us out by following us on Facebook and Twitter and attending our events. A website is in the works and should be launched next week.

"A fledgling young business professionals group is carving out a niche as next-generation supporters of the push for better mass transit in the Tampa Bay area. The group calls itself TRANSITion Tampa Bay.

Its co-founders include Brett Milke, 24, and Brian Seel, 25, (son of Pinellas County Commissioner Karen Seel) — two local University of Florida pals who now are project engineers for construction companies. Milke, who works for the Murray Co. in Clearwater, says the new grass roots effort wants to link with other young professional groups like Emerge Tampa to build more buzz for mass transit — specifically for the November ballot referendum in Hillsborough that seeks a 1-cent sales tax increase to help fund light rail and a better bus service in the county. Especially now that the feds have kick-started a high-speed Tampa-Orlando rail project.

TRANSITion Tampa Bay has an event with a speaker from HART (Hillsborough Area Regional Transit Authority) Thursday evening from 6 to 8 p.m., in South Tampa at the Lime, 915 S Howard Ave. It is still pulling a Web site together, but you can find info about the group on Facebook. One economic development group lending a hand, meeting space and some introductions to the new organization is the pro-mass-transit Tampa Bay Partnership."

http://www.tampabay.com/news/business/area-auto-sales-sluggish-compared-to-the-national-numbers/1077222

The Economist Lands a Punch Squarely in Obama's Face

Why hasn't the federal government effectively addressed the nation's ever-increasing problems? Blame President Obama, says The Economist:

http://www.economist.com/opinion/displayStory.cfm?story_id=15545983&source=hptextfeature

A Task Force Worth Forming

Today, President Obama issued an executive order creating a bipartisan fiscal reform commission. This is a step that Congress refused to take, but Obama has wisely embraced the idea first proposed by Senators Conrad and Gregg. The goal of the commission is to bring down the federal deficit to 3% of GDP. The recommendations of the commission are likely to include new taxes, spending cuts, and reforms to entitlement programs. Tax increases are obviously going to be unpopular, especially in an election year, and are unlikely to ever be enacted. But entitlement reform is sorely needed to ensure a sustainable fiscal future and spending cuts should be universally welcomed.

The possibility that tax increases may be recommended was the reason that Congressional Republicans refused to support a resolution creating the task force. Their stubbornness and inability to compromise have been duly noted for the record. Hopefully this commission can truly put aside the partisanship to find some common sense recommendations. And hopefully President Obama will follow through on his first serious attempt to control the deficit. We'll see...

http://thehill.com/homenews/administration/81863-obama-names-simpson-and-bowles-to-lead-fiscal-commission

Guest Column: Transportation Planning - As Simple As Watching Mold Grow?

Today we've got a guest column from Temple University medical student Carl Beyer. In the course of his research, Carl came across some interesting articles concerning the organic growth of nutrient transportation among a colony of mold and how the natural processes can be related to the "organic" growth of human transportation networks. Just goes to show you that you can learn some unexpected things from nature, even the mold growing in those dishes you haven't washed for two weeks.

In the competitive world of microorganisms, inefficiency is often punished by extinction. A method for incorporating the same ruthless efficiency into the development of infrastructure networks could be quite valuable. A research team led by Atsushi Tero has developed an algorithm that may do just that by comparing the growth of slime mold to the train network of Tokyo.

These researchers studied the slime mold Physarum polycephalum which develops a transportation network of small tubes for carrying nutrients and waste products. The mold expands outward looking for new food sources and connects these scattered nutrients to the central network by adding and subtracting tubes. The researchers used a clever set of experimental protocols to make the mold's environment simulate the population density and geography of Japan. Nutrient clusters were used to represent population centers and bright lights, slime mold's deadly enemy, were used to mimic geographic limitations like mountains and oceans. The result was that slime mold grew a transportation network very similar to the real train network connecting Tokyo and neighboring cities. This result is amazing because the slime mold was able to create an efficient transportation network with no central planning and at a slightly reduced cost. Atsushi Tero and his team showed that it can achieve this efficiency because each tube either grows or shrinks based on the level of protoplasm (slime juice) flow through that particular tube.

So how can this biological algorithm be put to use in the real world? The flow of people, goods, or information is equivalent to the flow of protoplasm and our human networks can be tuned to respond in the same manner as the slime mold tubes. To continue the train example, a particular rail line could respond by increasing the length of trains, frequency of trains, layout of train cars, etc. as a way to "expand the tube". The same is true for highways where additional lanes could be added, lanes could be reversed during certain times, and busing and carpooling could be expanded. Most governments and transportation companies already factor levels of use into their future plans, but this organic framework provides a naturally proven mathematical algorithm. The one catch to using this sophisticated planning tool is that segmental data for each stretch of highway or railway is needed to provide an accurate model. The electronic tracking of train tickets both on and off of a train could be an easy method for data gathering, but an equally effective method is not readily apparent to me for roads.

In conclusion, some central planning will always be important for infrastructure to provide the political will to build such expensive public goods, but the actual design of the network may be better left to slime mold.

Sources:

Rules for Biologically Inspired Adaptive Network Design, Tero et al. Science; January 22, 2010.

http://www.msnbc.msn.com/id/34980542/ns/technology_and_science-science/

http://freakonomics.blogs.nytimes.com/2010/02/02/are-transportation-planners-smarter-than-mold/

500 Hits and Counting!

Thanks to everyone who reads Seel's Common Since! Last week we passed 500 hits. I installed the hit counter one month after I started this blog, so technically we passed it a while ago. 500 hits is not much at all compared to most blogs, but I feel like it's a significant milestone. I promise it's legitimate and that it's not due to me clicking "refresh" on my browser 499 times.

I wish I could post more often, but work has been ridiculously busy lately. However, I'll be doing my best to improve.

Please send me your thoughts, ideas, and comments about what you'd like to see on here. I even welcome guest columns.

Thanks again!

Where Can I Find "The Complete Idiot's Guide to Optimism"?

Today I read and reflected on this article by Republican speechwriter Mark Lange. In it, he places the responsibility for job creation squarely on the shoulders of the pessimistic American. He asserts that yes, there are major challenges to finding employment, and no, we cannot rely on government spending to create the necessary amount of jobs. On these points we agree.

Although I am relatively green in the working world, I have heard from countless people that this is the worst job market in their entire lifetime. I know people from every walk of life that have been laid off. It's extremely difficult to maintain optimism about the country, the economy, and our personal well-beings when faced with such situations. Lange claims that the only the only true remedy is a strong dose of optimism. That seems a repugnant medicine to swallow for many.

Americans feel powerless when faced with being laid off, defaulting on a mortgage, being delinquent on credit card payments, and experiencing anonymity among a labor pool that numbers in the millions. We are ready, willing, and more-than-able to work, but no one will give us an opportunity. What are we to do?

I take comfort in the borderline-sinister words of Rahm Emanuel: "Never let a crisis go to waste." Pundits would argue that the Democrats have taken advantage of this crisis to expand the role of government. Other talking heads would argue that the Republicans have seized the crisis to become the party of "No" and steer the nation in the direction of isolationism. Let's set aside the partisan punditry for a moment and consider what this maxim could mean to us - the American lay-person.

I am a firm believer that when one door closes, two others open. And there is always great opportunity in the face of great adversity. Collectively and individually, we need to pick ourselves up and dust ourselves off. Relying on our pessimism and frustration with Washington and Wall Street to reverse our fortunes will only produce mediocre and sluggish results. There is no spoon-fed panacea to cure our recessionary woes and no legislative silver bullet to kill unemployment. Astute and measured policies will certainly help, but we've got to take the reigns on this one. We have to create opportunity, and it starts with one innovative idea at a time. New concepts, new techniques, and new applications of knowledge are requisite in every sector of the economy. Individuals acting in their own self-interest in creative ways are guaranteed produce opportunities. And those enterprises will compound upon each other profession by profession, industry by industry, and city by city.

Common Since: Economic recovery will require an aggregate approach. Erudite regulations and increasingly accessible credit will help. But there is no magic hat from which to pull out a rabbit. The resurrection of the American economy relies upon the renaissance of American optimism. Solutions are not going to come from the top down, but from the inside out. I searched Amazon.com for The Complete Idiot's Guide to Optimism, however it doesn't exist. We'll have to start writing it ourselves, one page and one person at a time.

Pres. Obama to Announce $ For FL High-Speed Rail Today

President Obama will be at the University of Tampa this afternoon to announce an ARRA grant of $1.25 billion for Florida's SunRail high-speed Orlando-to-Tampa connector. This announcement has been long speculated and confirmed in the President's State of the Union speech last night:

"Next, we can put Americans to work today building the infrastructure of tomorrow. From the first railroads to the interstate highway system, our nation has always been built to compete. There's no reason Europe or China should have the fastest trains, or the new factories that manufacture clean energy products.

Tomorrow, I'll visit Tampa, Fla., where workers will soon break ground on a new high-speed railroad funded by the Recovery Act. There are projects like that all across this country that will create jobs and help move our nation's goods, services and information."

I am very pleased that the President will be getting back to the true stated purpose of the stimulus. I've been very critical about how the $787 billion ARRA has been spent to this point, like most Americans. Infrastructure investment deserves to be the cornerstone of this massive appropriation, which has hitherto been shuffled among the bureaucratic hierarchy. Let's hope this is a turning point that, when combined with a plan for small business loans, will have a greater effect on improving the fortunes of an increasing amount of Americans.

http://www.tampabay.com/news/politics/national/article1068768.ece

Ehh, Why Not?

1.9 isn't a very big number by itself. And 1.9 trillion doesn't seem that intimidating if you ignore the zeroes behind it. That's the number ($1,900,000,000,000) that Congressional Democrats want to increase the debt ceiling. That would bring the total debt ceiling to $14.3 trillion. What a splendid idea. Can you please tell me why you need this? “We have to do this. The alternative is worse,” said Senate Finance Committee Chairman Max Baucus (D—Mont.) in a brief interview. Oh... OK.

Common Since: This month I owe around $700 on my credit card due to the nice trip I took to Colorado. I think I'll just knock off the zeroes and pay Visa $7. Why not?

http://www.politico.com/news/stories/0110/31759.html

National Fire Sale! For a Limited Time Only!

I have devised a simple and elegant way to lift America out of this recession by next week, or possibly sooner. I'm still working out the complicated policy language for the legislation, but I intend to have a draft bill ready to present to Congress and President Obama in about 15 minutes. Here's the gist of it:

Let's have a one week fire sale: a warehouse liquidation, you might say. Struggling corporations are laying off their employees, so why can't the federal government cut their dependent states? Think of it as "losing the dead weight". Here's how it goes: we give certain privileged nations a limited one day preferred purchase option. Precedence goes to the former colonizing owners of a given state. If they fail to meet our discounted minimum purchase price, then the states go into a one week-long auction. Now, we could hold that auction on Ebay, or at the steps of the U.S. Supreme Court. But I don't want to "cheapen" the experience for our potential buyers. Therefore the auction will be held at Christie's of London, and fine champagne and caviar will be provided. (Each bidder is limited to two food and beverage tickets.)

First on the chopping block is the doomed (I mean sunny and culturally significant) state of California. Spain will have the preferred purchase offer, but I have a feeling they will pass and Mexico will win it in the auction for 23 pesos (roughly $1.82). That's fine with us because that's $26.3 billion more than the state of California is currently worth.

Spain will also get an early chance to obtain New Mexico, Arizona, Colorado, and Texas, all a part of their former colonies.

Florida will be offered in a pre-auction auction between Spain and England (former colonizers) and Germany (whose citizens love to travel here). Puerto Rico will be tacked-on to sweeten the deal.

France will be given the opportunity to buy back the entire Louisiana Purchase. I believe they will hold out for a better price, but a bidding war will erupt between France and Canada, who is looking to expand into warmer climates. The two nations will eventually compromise and split it into north/south territories, but America will ultimately score a hefty sack of gold for the sale. Win-win-win situation.

I also predict Canada will gain North Dakota, Wisconsin, Minnesota, Michigan, and Illinois. It's a good fit because they all like hockey and talk funny.

Russia will have a solid shot at Alaska. They can enjoy being cold together and drinking excessively.

We'll hold out from auctioning off Nevada. The plan is to wager it all on the craps table at the Bellagio. C'mon lucky sevens.

The Mormons can simply have Utah, free of charge. Glenn Beck will hastily establish a dictatorship.

I will buy Wyoming and Montana (using my position as Auction Czar to gain insider trading) for $3 and an old fraternity t-shirt. It's so damn beautiful up there. And I'll take out a 99-year ground lease on Oregon. I've always wanted to own a wine-producing state.

That will leave roughly the original 13 colonies, plus a handful of assorted states, under the control of the U.S. government. The country will be in excellent fiscal standing and will once again have the strongest economy in the world. Wham, bam, thank you m'am.

Common Since: Sell it all. Get out while the gettin's good. I'm going to run to the print shop after work and have some flyers drawn up.

Why Rail, Why Now?

Here is an interview from the Bradenton Herald with Stuart Rogel, CEO of Tampa Bay Partnership. Myself and others have been working with TBP to support public transit initiatives. Cross-state high-speed rail and regional rail/bus networks need our support if we are going to improve the physical development and quality of life of our state. This is a long-term vision that requires immediate action. The reason Florida looks the way it does today is because a generation of leaders were not prepared for the unprecedented growth in Florida's population during the 20th century.

Will it be cheap? No. Will it be easy? Not likely. Will it be worthwhile? Most definitely.

I will report more on my position and the logic behind it in future posts. Be on the lookout for information concerning TRANSITion Tampa Bay, a group we founded to encourage support among young professionals.

The Case for Regulation

In reference to yesterday's post, here is another viewpoint from Robert Reich, Secretary of Labor in the Clinton administration. He may a too far to the left of me on some issues, but here he supports my stance that the investment vehicles and trading practices of financial institutions need new regulations to prevent future economic chaos.

http://www.ft.com/cms/s/0/0666adfe-ffb6-11de-921f-00144feabdc0.html?nclick_check=1

The Time to Regulate is Now

I am a defender of free markets, low taxes, and minimal regulation. However, there is a reasonable and moderate extent to which these principles are effective. The current global economic situation is a direct result of actions within the financial world. Obviously "Exhibit A" is the use of loosely-regulated mortgage backed securities, the most risky form of collateralized debt obligations. Since the beginning of the Great Recession and the bailout of assorted financial institutions including AIG, Citi, and BoA, no significant regulatory reforms have been enacted to prevent the continuation of similar practices. I'm no financial guru, nor can I comprehend Gaussian copula models (models for pricing CDOs), but I can tell you that the financial system needs a new set of limits. Financial and banking institutions have been aching to pay back TARP funds and return to profitability, and I'm not so sure I can trust them to avoid new unorthodox and seriously risky investment vehicles. While the White House and Congress have been hammering away at passing health care reform and carbon cap-and-trade legislation with exorbitant projected costs, they have put financial reform on the back-burner. 2009 was a year of misplaced priorities. The time to regulate is now.

Further reading:

http://online.wsj.com/article/SB10001424052748703652104574652242436408008.html