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In his annual summer address to the Joint Money Committees of the General Assembly this morning, Gov. Bob McDonnell announced that Virginia has posted a surplus of over half a billion dollars for FY 2011. The $544.8 million surplus follows the Commonwealth’s $403.3 million surplus for FY 2010. The FY 2011 surplus consists of the…
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You’ve certainly heard the endless stream of negative economic news lately. America’s fiscal house is in trouble, job growth has stalled, and we may be driving right into a double-dip recession. While giving their pessimistic economic outlooks, there is one thing that the doom-sayers have gotten wrong – they aren’t nearly worried enough. This isn’t…
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Making over 30 stops across the 5th District along Route 29 this past week I talked to and met with many Central and Southside Virginians about the pressing issues currently facing our nation. Whether it was in Danville, Chatham, Gretna, Altavista, Bedford, Forest, Lynchburg, Rustburg, Piney River, Lovingston, Arrington, Charlottesville, or Ruckersville, the overwhelming message…
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Prices at the pump increased slightly this week amidst national and international economic volatility. The national average for regular grade gasoline reached $3.71 Friday, up a penny from last week, up 17cents from a month ago and 97 cents higher than year-ago prices. Gas prices remain 40 cents below the all-time record high of $4.11/gallon…
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In a close vote, the House recently passed a provision that undercuts one of the most successful environmental programs of the decade – one that requires all bulbs – including the incandescent – to achieve higher efficiency levels. The amendment, which was tacked on to the Energy and Water Development Appropriations Act of 2012, delays…
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Two years ago this week, 4.5 million of America’s workers enjoyed a modest pay increase, as the federal minimum wage rose from $6.55 to $7.25 an hour. The increase was the final of a three-step boost enacted in 2007. Of those getting a bump in pay, more than three-quarters were adults, nearly two-thirds were women,…
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Gov. Bob McDonnell announced today that the state ended the 2011 fiscal year with a $311 million general-fund surplus. A key to the fiscal picture – state revenues were up 5.8 percent over fiscal-year 2010, well ahead of the 3.5 percent revenue growth that had been projected. The state ended fiscal-year 2010 with a $228…
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This past week the Department of Labor released a very disappointing jobs report for the month of June. Our national unemployment rate rose to an unacceptable 9.2 percent and only 18,000 jobs were created. The report makes it abundantly clear that the economic uncertainty caused by out of control government spending, excessive regulation, and the…
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Private-sector job growth is stalling, the government sector is shedding – and the economy is stagnant. And this is the fault of … ” … out of control government spending, excessive regulation, and the continued threat of tax hikes on small businesses …” That from Fifth District Congressman Robert Hurt, repeating GOP boilerplate in a…
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I’ve lived in the heartland for more than two decades. And I can tell you that there’s nothing like a sultry July night at the local ballpark, rooting for the home team, eating hot dogs and quaffing beer, watching fireworks viewed from damp, warm infield grass. This time of year, the Midwest is awash in…
