I’ve been trying to make sense out of Tim Cahill’s recent behavior, what with his appearances on Fox News; being for the Massachusetts version of healthcare reform before he was against it– or at least keeping silent about it while Governor Romney and the Legislature were putting the state on the path to near bankruptcy; and the whole bit about claiming that the state is going bankrupt during his national television appearances, but forgetting to tell potential bond-holders.
Then yesterday, I got a fundraising letter in the mail from the Treasurer, with a sleek black-and-white color scheme, which is apparently his overall campaign color scheme.
Then it hit me:
Not only has Cahill been pandering to the electorate, but he’s adpoted the color scheme of an actual panda!
Tim Murray has no clear stands on policy. He probably got as far as he has in politics by glad-handling (e.g. Hi, How Are You? I’m Good Old Tim….) and not by strong policy. His campaign almost seems like a temper tantrum based on his thinking, “None of this, none of that, none of them high and fancy”, while offering no rational reason to vote for him.
He is against the Bank of North Dakota model. This means he is in favor of taking what could be money for nothing for the state and giving it to bank shareholders instead. And, in these hard times, with one tax hike already passed, that is UNFORGIVABLE.
The Bank of North Dakota model is what this state and every state needs.
The State of North Dakota owns its own bank, the Bank of North Dakota (BND). State and local governments are required to deposit all their money in the BND. BND provides loans within North Dakota, usually through local banks. The profit of BND goes to the state, not to shareholders. This allows the state to provide the most services to residents for the taxes collected.
If they can do it in North Dakota, why not Massachusetts? Why not California, and every other state?
Senate President Therese Murray is thinking of this. Tim Cahill is opposed to it.
Don’t believe me? Check out the links below. First, BND itself. Then, a Boston Herald article about Murray and Cahill.
http://www.banknd.nd.gov/
http://www.bostonherald.com/bu…
Not Tim Murray.
Can’t get to it.
Of course, this means Timothy Cahill, the current Treasurer, Not Timothy Murray, or any other man named Timothy.
doesn’t that mean that the state is skimming off of the cities and towns in ND? After all, it’s entirely possible that the BND is paying out less interest than some other bank… which means that the city or town isn’t getting as much bang for it’s own taxpayer buck.
doesn’t that mean that the state is skimming off of the cities and towns in ND? After all, it’s entirely possible that the BND is paying out less interest than some other bank… which means that the city or town isn’t getting as much bang for it’s own taxpayer buck.
It’s possible that there’s a bank that pays higher interest on accounts that the BND. But there’s no reason to think that it’s so much of a difference that it makes it not worthwhile to have a state bank earning profit for the state government as a whole.
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p>Here in Massachusetts, sales tax was recently hiked from 5% to 6.25%. The state budget is tight because of the deep recession that we are in. Someone like Charlie Baker or Tim Cahill can win the election for governor by campaigning against these tax hikes. Setting up a state bank that would make money off of state and local government accounts would get money to the state, so that more tax hikes or budget cuts are not needed.
At the local level. And due to Prop 2 1/2, municipal governments have less flexibility to deal with budget crunches than the state does.
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p>That’s not an argument against a state bank per se, just an argument in favor of not forcing muni govts to join it, or in favor of paying interest that matches that of private banks, absent a compelling reason to the contrary.
Paying a competitive interest rate to municipalities could be arranged. I see no reason why not. I don’t have the time on my hands right now to check it out first hand. I just have some doubts that rates at one bank or credit union are THAT much better than the others.
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p>Having the state make money off of a state bank means more money in the state treasury. This means less cuts in local aid, which will help municipalities. They could pay interest rates equal to the highest interest rate paid to a municipality with an account at a bank or credit union at the time the state bank is established.
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p>Such a rate would be good for the municipalities, but would not be so high that it would make the state bank insolvent. No bank or credit union runs itself at a loss and stays in business.
I just don’t want the state to force munis to bank there. If BND offers better rates (or equal rates with better service), I would want my muni to bank there. If not, then heck no. When a government program allows for greater efficiencies, we should embrace it, but if not…
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p>I’d bet that BND does pay competitive rates, perhaps even better rates, similar to how credit unions can out-compete traditional banks.
Team Cahill,
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p>I wanted to be the first to share with you an important announcement. After spending the last few weeks plastered on the front page I suspect you might have had a feeling this was coming, but today makes it official. Our campaign is proud to accept the endorsement of the Boston Globe.
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p>Happy April Fools Day,
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p>Adam Meldrum, Campaign Manager
Tim Cahill for Governor
Is he running for a hitman position? He looks scary.
What do you have against pandas?
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I have nothing against pandas. And I bet most other people here have nothing against those poor sweet animals either.
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p>It was probably brought up to start a forum about Tim Cahill’s candidacy for governor with a catchy title.
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p>I did something similar when I said that Cahill is “burning state $$$$$$$$”. Of course, I know he is not there flicking his bic, burning state checks or cash in his car ashtray.
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p>Many of us on the economic left, such as myself, are not supportive of Tim Cahill’s stands on policy, and this is a thread for us to say our piece about it.
I thought it was about someone named Tim Burns.
When Cahill ran for Tresurer, it was “Tim for Treasurer” in his ads. That’s where I get it from. No person named “Timothy Burns” has anything to do with this, pro or con. The ones I was talking about are State Treasurer Tim Cahill and State Senate President Therese Murray, not other people out there.