Tuesday, July 23, 2013
#588 ( 7/23) "Detroit Bankruptcy Is No Time for Federal Bailouts"
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
"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.
[bold and italics emphasis mine]
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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/
Copyright © 2013 The Heritage Foundation. All rights reserved.
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