Tuesday, July 23, 2013

#588 ( 7/23) "Detroit Bankruptcy Is No Time for Federal Bailouts"

REMINDER: Check out this week's "Truth That Transforms  broadcastb  at www.truthinaction.org). This week's broadcast is about how God's institution of marriage has been under assault and is esp. so by homosexual activists. What is amazzing is that this message was delivered 10 years ago! Also presented is a special feature on the value of fathers to society and the increasing tragedy of fatherlessness. Don’t miss it

PRAISES AND PRAYER REQUESTS:

ATTENTION: TODAY is the 14th day of the 30 days of the Muslim holy month of Ramadan. (see link below for resource material you can download.) Please join me in focusing your prayers EVERY DAY for these over one billion people who need to hear the gospel of Jesus.[NOTE: 1) You can download a  page of helpful basic information about Islam and Ramadan at: http://www.opendoorsusa.org/downloads/pdf-downloads/Islam_reference_guide-1.pdf ; and 2) The following is from a 30-day prayer guide you can download at: http://www.opendoorsusa.org/downloads/pdf-downloads/2013-ramadan-prayer-calendar-1.pdf (The following is from that prayer guide.)
July 23 – 15th Day of Ramadan -  IMMANUEL (Maldives) - “The virgin will conceive and give birth to a son, and will call him Immanuel.” (Isaiah 7:14) - Immanuel, Hebrew for “God with us,” seemingly does not apply to Maldivians. To be a citizen of Maldives is to be Muslim; the government claims the country is 100% Islamic. Without access to Bibles, all that is known about Jesus is found in the Qur’an. As you pray during Ramadan for the nation of Maldives, pray for a divine knowledge of salvation, through Jesus, to be known to its citizens – for this country to be claimed by Immanuel, “God with us.”

"Angry Islamists Turn Wrath on Egypt's Christians,"  By George Thomas, CBN News Sr. Reporter http://www.cbn.com/cbnnews/world/2013/July/Angry-Islamists-Turn-Wrath-on-Egypts-Christians/  Friday, July 12, 201 - "Egyptian Christians are facing growing retaliation by angry Islamists for opposing ousted President Moham3med Morsi. His supporters say Christian leaders were behind his removal from office....On Thursday, the body of a Christian merchant was found decapitated in a cemetery. Last Saturday, a Coptic Christian priest was shot by gunmen in an outdoor market. Also, days after the military coup that removed Morsi from office, Muslim extremists in southern Egypt burned dozens of Christian homes and stabbed four believers to death. "It's part of the Brotherhood's mobilization that they are targeting Christians, that they are renouncing them as behind this. If the Brotherhood is able to portray what happened as a Christian-dominated or Christian-driven protest, then they get to gain massive support in the streets," Tadros explained.PRAY for the nation of Egypt, as it faces a crucial  moment, 1) that the recent events would result in its becoming a true democracy and NOT an Islamic state; 2)  that the peoples' freedoms, in particular the religious freedom of its minorities (specifically its oppressed Christians) would be protected; 3) for peace and stability to return; 4) that the U.S. will effectively reach out to the new government, and 3) for safety for Americans living in Egypt  

American Pastor Saeed Held Prisoner in Iran - June 5th Update - "Saeed's Wife Uses UN Speech to 'Plant Gospel'," by George Thomas, CBN News Sr. Reporter, June 05, 2013, http://www.cbn.com/cbnnews/world/2013/June/Saeeds-Wife-Uses-UN-Speech-to-Plant-Gospel/?cpid=EU_CBNNEWSPM_2013_156"Prayers from Prison: American Pastor Held in Iran Releases Letter," May 22, 2013; http://www.presidentialprayerteam.com/Prayerwatch?pw=1458"...Abedini has been held at the brutal prison for 238 days, enduring long stints in solitary confinement, and, according to his supporters, beatings and torture at the hands of his jailers and fellow inmates. For months, he has been suffering from serious injuries, including internal bleeding from beatings with no proper medical attention, according to his family and attorneys."(Sources: Fox News, Assemblies of God website) Please PRAY:1) For the imprisoned Pastor Abedini, and for those Iranians who tend to his needs in prison to treat him more humanely. 2) For his family in Boise, Idaho. and their efforts to involve the U.S. State Department in securing Pastor Abedini’s release. And 3) For the impact of his witness upon believers and non-believers, in America and across the world. And if you have not yet, join the over 600,000 worldwide who have signed the petition asking for his release at www.SaveSaeed.org

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"Detroit Bankruptcy Is No Time for Federal Bailouts," by Alison Acosta Fraser On July 19, 2013

The city of Detroit filed for Chapter 9 bankruptcy protection yesterday with some $18 billion in debt, making it the largest municipal bankruptcy in the United States.There will inevitably be calls for the federal government to bail out Detroit. Washington should set a firm precedent now that it will not bail out reckless city, county, or state governments. Detroit must solve its own problems, and sadly, bankruptcy is the last mechanism to force city leaders to do that.

Detroit’s bankruptcy filing should come as no shock; the city’s decline has been decades in the making. Detroit’s financial and economic decline took root in the manufacturing decline in America. But the decades of continual decline that have followed, in which the city lost more than 60 percent of its population, stem from the city’s precisely wrong response to the manufacturing decline.
Rather than implement sound financial and economic policies and promote a vibrant private sector to help rejuvenate the city, Detroit’s policymakers attempted to shift resources from the private sector to the public sector, raised taxes, and increased regulations—all while fostering an ever-expanding city government.

Sadly, city leaders took their cues from the auto industry by growing government through generous promised but unaffordable future pension and health care benefits. In fact the biggest share of Detroit’s debt comes from these unaffordable promises: $6 billion in health and other post-employment benefits for retirees and $3 billion in pensions.

For decades, Detroit sustained itself through the usual suspects of bad fiscal management: unaffordable borrowing, state grant schemes, raising taxes, and deferring public pension contributions rather than cutting city spending. But Detroit’s tragic downward cycle has reached its end. With all tax rates close to their statutory max and dismal public services that discourage individuals and businesses from remaining in or coming to Detroit, the city simply cannot continue to fund its operations and service its debt.

It has been rumored that Detroit’s creditors and pensioners may receive mere pennies on the dollar to what they are owed. Certainly there will be cries of “unfairness.” But a federal bailout—whereby taxpayers in fiscally responsible cities and states have to pay for the services and promises made by city and state governments that waived such discipline for decades—would be far more unfair.

What’s more, a federal bailout of Detroit would set a dangerous precedent for future state and local bailouts. Detroit is not the only city facing serious financial trouble; there are many more municipalities for whom bankruptcy seems the inevitable outcome. And if bailouts really were a panacea, then state bailouts from the 2009 stimulus legislation should have put every state on firm fiscal footing.

All bailouts do is punish those state and local governments that are good stewards and enable those that are not to continue profligate fiscal policy and poor management. Bankruptcy, and the threat it carries, forces government leaders to confront and solve their own problems.

Washington should also learn its own lessons from Detroit. Total national debt is over $17 trillion, bigger than the entire U.S. economy. Beyond huge growth in nearly all federal programs, future spending will be driven to the breaking point by our own federal retiree spending programs—Medicare, Medicaid, and Social Security. Rather than discouraging other troubled state and local governments from getting their fiscal houses in order through bailouts or other support, federal lawmakers should fix their own fiscal problems.

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Article printed from The Foundry: Conservative Policy News Blog from The Heritage Foundation: http://blog.heritage.org; URL to article: http://blog.heritage.org/2013/07/19/detroit-bankruptcy-is-no-time-for-federal-bailouts/

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