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Thursday, January 27, 2011
State owes $1.4 billion in unemployment funds By Ariel Shapiro the daily cardinal
Wisconsin owes the federal government $1.4 billion in borrowed unemployment funds, according to the Department of Workforce Development. Wisconsin is one of 32 states that borrowed from the federal Unemployment Insurance Trust Fund in order to maintain their unemployment programs during the recession, Wisconsin DWD Communications Director John Dipko said in an e-mail. Although these loans originally were given free of interest, they will begin to rack up nearly $50 million a year in interest and must be paid back this fall, according to The Capital Times.
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Democrats deem voter ID bill unfair to students
President Barack Obama visited Orion Industries in Manitowoc Wednesday, focusing on similar themes of innovation and global competition as in his State of the Union address.
By Ariel Shapiro
Obama’s Manitowoc visit stresses competition
A Republican-supported bill to crack down on voter fraud by requiring photo identification to vote is drawing ire from Democrats and other organizations who claim the bill would do more harm than good. Before a committee hearing, several critics of the bill spoke
By Patrick Tricker the daily cardinal
Less than 24 hours after his State of the Union address, President Barack Obama toured a fluorescent lighting factory in Manitowoc Wednesday to talk about the promise of American industry in the face of intense industrial competition worldwide.
Speaking to a group of Orion Energy Systems employees, the president reiterated the goals from his State of the Union address, to update America’s infrastructure and advance technological innovation. “That’s how we’ll create the jobs of the future,” Obama said in his speech at the factory. “That’s how
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Obama discussed what he called the “Sputnik moment” America finds itself in, when the country needs innovation to succeed.
we’re going to build the industries of the future, because we make smarter products using better technology than anybody else. That’s how we’ll win the future in the 21st century.” Manitowoc offered symbolic significance to what Obama called the “Sputnik moment” in his State of the Union speech, because of the 1962 crash of Korabl-Sputnik 1 in the city. The Soviet satellite Sputnik 1 is said to have started the space race in 1957 when the USSR was the first nation to put a man in space. “It turns out that it was part of a satellite called Sputnik that landed right here,” Obama said. “And that set the space race into motion. So, I want to say to you today that it is here, more than 50 years later, that the race for the 21st century will be won.” The president presented Orion, which produces energyefficient lights for factories, as an example of how government support can help renewable energy companies prosper while creating jobs and strengthening the economy. Obama said the company has grown from one employee in 2004 to more than 250 today obama page 4
UW-Madison applied economics professor Andrew Reschovsky said the loans would be paid for by taxing employers, but the state could change the method. Dipko said the Unemployment Insurance Advisory Council will address the issue of trust fund solvency this year. Cullen Werwie, spokesperson for Gov. Scott Walker, told The Capital Times that the governor is aware the interest payments are coming due later this year and is following it closely. “He’s working with the Unemployment Insurance Advisory Council and the Legislature on some of the options available to improve the fiscal condition of the fund,” Werwie said.
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at the state capitol, claiming the legislation would disenfranchise students, minorities and the elderly. State Sen. Spencer Coggs, D-Milwaukee, called the bill a “solution in search of a problem.” He said voter fraud is nearly nonexistent, and that the bill would voter ID page 4
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Author Dr. Thomas Woods spoke at UW-Madison Wednesday.
Bestselling libertarian author confronts economic ‘myths’ about government By Alicia Goldfine the daily cardinal
In times of economic turmoil, much of the American population looks to the federal government. But Dr. Thomas Woods, a libertarian author, thinks Americans need to begin solving national problems on their own. At a lecture on campus Wednesday organized by the student organization Young Americans for Liberty, New York Times bestselling author Woods
confronted what he considers myths about business cycles and the Great Depression that he said are thoughtlessly accepted. Woods, author of “Rollback: Repealing Big Government Before the Coming Fiscal Collapse,” outlined these “myths” and discussed the increased spending on new homes by unemployed families because of the Federal Reserve System’s forced decrease in interest rates. author page 3
“…the great state University of Wisconsin should ever encourage that continual and fearless sifting and winnowing by which alone the truth can be found.”