Tag: Ridgewood Schools

>Dear Friends,

I voted against the bailout bill both times because I am opposed to hastily spending $700 billion in taxpayer dollars without robust oversight and the exploration of alternatives. Yes, I believe that Wall Street needs help. Yes, our economy is struggling and needs to be fixed, but a hasty bailout was a mistake. As the economic crisis deepens, it turns out that the $700 billion bailout is far different from what Nancy Pelosi, Barney Frank and the Bush Administration .

Congress was told that this money was going to be used for a “troubled asset relief program” to purchase toxic assets from bank balance sheets. We were told that buying these assets was the only option to help the economy; no other alternative would work. Shortly thereafter, Treasury Secretary Henry Paulson announced that the money would be used for equity injections into various institutions. This past Friday, the Treasury Department announced it is considering taking equity stakes in insurance companies. The Wall Street Journal designated this move as “a sign of how the government’s $700 billion program has become a potential piggybank for a range of troubled industries.”

The government is now experiencing an influx of requests from companies all over the country: insurance firms, automakers, state governments and transit agencies all want a handout. There are some reports of companies using money from the bailout, your tax dollars, to provide employee bonuses and pay corporate dividends.

In the same article, the Wall Street Journal continued, “While Treasury intended for the program to apply broadly, the growing requests could rapidly deplete the $700 billion, an amount that initially stunned many as being quite large.”
This is alarming. The federal government is handing out easy money, yet we have not worked to fix the systemic causes of our economic crisis. American taxpayers should be alarmed and outraged at the irresponsible use of their money.

I am a cosponsor and a strong supporter of the alternative bill introduced in the House of Representatives, the Free Market Protection Act. This Act contains many efforts to fundamentally address the systemic issues affecting the financial markets and although the bailout bill has already passed the House, the Free Markey Protection Act has some components that are still worthy of discussion. It has an insurance component that places risk-based premiums on outstanding mortgage-backed securities (MBS). There also is a reform component that includes limits to the federal backing of high risk loans and temporarily suspends “mark to market” accounting. I have spoken to many experts who feel that these alternatives could stimulate the market just as effectively as the $700 billion bailout proposal. I don’t believe this is the only solution to the problem, but it shows that there are other alternatives to be explored. It’s not too late to work to incorporate bipartisan proposals that will pass quickly and reassure the markets that we do have a plan to fix this crisis.

Sincerely,
Scott GarrettMember of Congress

>

Part two………

>IBD/TIPP Tracking Poll: Day Eleven
Posted: Thursday, October 23, 2008

McCain has cut into Obama’s lead for a second day and is now just 1.1 points behind. The spread was 3.7 Wednesday and 6.0 Tuesday. The Republican is making headway with middle- and working- class voters, and has surged 10 points in two days among those earning between $30,000 and $75,000. He has also gone from an 11-point deficit to a 9-point lead among Catholics.

https://www.ibdeditorials.com/Polls.aspx?id=309635713550536

>Fifty Years of Math 1958 – 2008

Last week I purchased a burger at Burger King for $1.58. The counter girl took my $2 and I was digging for my change when I pulled 8 cents from my pocket and gave it to her. She stood there, holding the nickel and 3 pennies, while looking at the screen on her register. I sensed her discomfort and tried to tell her to just give me two quarters, but she hailed the manager for help. While he tried to explain the transaction to her, she stood there and cried. Why do I tell you this?

Because of the evolution in teaching math since the 1950s:

1. Teaching Math In 1950s

A logger sells a truckload of lumber for $100. His cost of production is 4/5 of the price. What is his profit?

2. Teaching Math In 1960s

A logger sells a truckload of lumber for $100 His cost of production is 4/5 of the price, or $80. What is his profit?

3. Teaching Math In 1970s

A logger sells a truckload of lumber for $100. His cost of production is $80. Did he make a profit?

4. Teaching Math In 1980s

A logger sells a truckload of lumber for $100. His cost of production is $80 and his pro fit is $20. Your assignment: Underline the number 20.

5. Teaching Math In 1990s

A logger cuts down a beautiful forest because he is selfish and inconsiderate and cares nothing for the habitat of animals or the preservation of our woodlands. He does this so he can make a profit of $20. What do you think of this way of making a living? Topic for class participation after answering the question: How did the birds and squirrels feel as the logger cut down their homes? (There are no wrong answers, and if you feel like crying, it’s ok. )

6. Teaching Math In 2008

Un hachero vende una carretada de madera para $100.. El costo de la producciones es $80. Cuanto dinero ha hecho.

>Obama, Dems Seek to End 401(k) Plans
By Mark Impomeni
Oct 24th 2008 9:00AM

https://news.aol.com/political-machine/2008/10/24/obama-dems-seek-to-end-401-k-plans/

Sen. Barack Obama’s Democratic allies in Congress are looking into a radical new plan that would fundamentally change the way Americans save for retirement. House Democrats recently heard testimony on the idea and, under a potential Obama administration, would likely move to put it in place. Democrats want to seize the money that workers currently invest in their 401(k) plans and replace the popular retirement savings accounts with a one-size-fits-all government sponsored retirement account. Under the scheme, Americans would be forced to transfer all of their hard earned retirement savings from their 401(k) to the government.

The government would contribute $600 a year to fund each account and would pay a rate of return of around three percent in interest. The government would also mandate that each worker contribute 5% of their yearly salary to the accounts. Under current law, workers with 401(k) plans contribute to their retirement accounts and earn interest tax free. The Democrats’ plan would end those tax breaks, amounting to as much as a 15% tax hike on each American worker.

Rep. Jim McDermott (D-WA) said recently that Democrats had better ideas for the $80 billion that Americans contribute to their 401(k) plans each year. “We have to start thinking about whether or not we want to continue to invest that $80 billion for a policy that’s not doing what we say it should.” Sen. Obama would likely sign on to the plan as president.

Obama, McDermott, and Congressional Democrats miss the point that under current law, Americans have control over their retirement savings, where and how it is invested, and when and how much they contribute. The idea to nationalize retirement savings is another example of Democrats’ socialist proclivities. They want control of Americans’ retirement to reside in Washington DC, not on Main St., all in the name of “retirement security.”

https://news.aol.com/political-machine/2008/10/24/obama-dems-seek-to-end-401-k-plans/

>dont forget this SUNDAY Oct 26, the 4th annual Ridgewood Fall Motorcyle classic. 1-4pm Chestnut ST, to benefit Tomorrows Childrens Fund @ the Office Bar&Grilll Chestnut st. Music food raffles prizes etc.. your donations go to a good cause..and its always a good time! !

>Page 2 of 1
By JEAN JONES

https://www.nj.com/bridgeton/index.ssf?/base/news-3/1224742217311660.xml&coll=10

[email protected]

MAURICE RIVER TWP. – School administrators say compliance with another state mandate for schools will be almost impossible for small, rural districts.

In a presentation to the Maurice River Board of Education on Tuesday, teacher Kathleen McGlynn outlined what will be required and the timeline to be followed for the five-year, full-day expanded preschool program that is mandated to begin in 2009.

McGlynn said that next year, the district is expected to serve 20 percent of the projected population with full-day preschool.

At the end of five years, 90 percent of the population is expected to be served.

The projected popuation will be computed by doubling the number of students currently in first grade.

The timeline calls for two classes of 4-year-olds next year and three classes in the second and third years.

The fourth year would require one class of 3 year olds and three of 4 year olds, increasing to three classes of 3 year olds and four classes of 4 year olds in the fifth year.

Classes are capped at 15, and each class must have a teacher certified to teach preschool and one aide.

Each district also must have a master teacher, with no teaching responsibilities, a Preschool Intervention and Referral Team, a Community and Parent involvement specialist and a Childhood Advisory Council to help children transition into preschool and through grade 3.

Superintendent John Saporito said the program will take classrooms the school doesn’t have.

“Every classroom is being used to provide instruction. We would have to sacrifice classrooms. I don’t see how we could service 3- and 4-year-old classes in this building. We’re a small district. It would cost a lot of money to initiate this. I don’t know where the money is going to come from,” he said.

Business administrator Patricia Powell said trailers are a possibility, but they would have to be approved each year.

An addition is not feasible.

The only option would be to outsource the program to a private entity or another school district.

“They are encouraging us to go to private providers,” McGlynn said.

The program is voluntary for parents, and McGlynn said she expects more interest by parents when they find the current half-day program is moving to a full day.

Special-needs students will be given first priority.

She suggested that the best way to choose the students for the first year might be a lottery, to be held at a school board meeting.

She also suggested that it would be best to leave one or two slots open in each class for students moving into the district.

Since there is an absolute cap of 15 per class, with no exceptions, a 16th student would require setting up another class.

In another matter, a group of seventh- and eighth-grade students asked for an after-school club for students who are not at risk but want to do homework together, collaborate on projects and work with their peers.

The students said the student council would be willing to raise funds for supplies.

“The kids are expressing to us ways they can be successful,” said teacher Leia Ellis.

They would like to use the computer lab and cafeteria and would like to start the second or third week in November and continue until the middle of April.

Saporito said he thought it was a great idea. A teacher would have to be found who is willing to stay after school and oversee the group.

https://www.nj.com/bridgeton/index.ssf?/base/news-3/1224742217311660.xml&coll=10

>Different thread, sort of:

George Soros, Hungarian-born financier said by Forbes to be one of the hundred richest people in the world, was the mastermind of Black Wednesday in Great Britain in 1992, which basically negated the worth of the pound sterling as a viable currency for Britain. The result was Britain’s inevitable decision to join the Continent by introducing the Euro as the pan-national currency. A concentration of financial power to attack national institutions is a scary thing.

Soros is a secretive, but nonetheless hugely influential, financial supporter of well-known Democratic causes in the United States, and is, in fact a major financial supporter of Candidate Obama’s campaign. How much? It can’t be tracked because of the interlocking corporations that Soros controls and the places from where he issues his money.

Soros makes his money betting against the moves of the market, otherwise known as hedge trading. He controls a lot of the market. He can make the market go up or down, depending on how he feels on a particular day.

I ask this: Is it possible that one of Obama’s most financially influential supporters caused, either directly or indirectly, the financial disaster in the United States?

Who has gained most from the Wall Street catastrophe?

An October surprise? Worked for the Republicans against Carter. Soros and Obama share the same One World view. Maybe Soros figured out a way to use our own system of capitalism to destroy the nation that perfected it.

I’d be interested to read how others feel.

Editors Note:

Largest recipients of Fannie Mae and Freddie Mac Campaign Contributions, 1989-2008

Dodd, Christopher CT D $165,400
Obama, Barack IL D $126,349
Kerry, John MA D $111,000