Daily Archives: 10/03/2009

(Community Matters) Commissioner Eckhardt sent word that she will run for reelection. hmm, how strange that I received notes from Commissioner Gomez supporters suggesting otherwise. what’s the story there?

(Community Matters) Just reading on Facebook that Andy Brown was mugged last night.

(Community Matters) David Brooks on why Rush Limbaugh, Glenn Beck, Sean Hannity and Bill O’Reilly are illusionists.

(Community Matters) Reading Krugman, Mision Not Accomplished, I started wondering about our current debt as a percentage of GDP. This graph from gov’t figures located in Wikipedia.

Like a lot of Americans, I’m not at all thrilled about where our debt is; I’m not sure anyone is. So, maybe we can all agree on that as a start – no one *wants* more debt. I suppose the disagreement ramps up as to whether or not it’s prudent for the government to continue borrowing to stimulate economic activity or otherwise create jobs and expand government services.

So, looking at historical levels of debt: I notice 1) the rise in debt as a percentage of GDP (second graph) since the 1980s, 2) that nearly 30 points of debt as a percentage of GDP is held by the government (and I have to think more about this math – gov’t owing gov’t. To the extent represents future obligations, what does that say?), and 3) during WWII, the percentage was a lot, lot higher (so what are the implications since we’re in the middle of two wars, just averted a complete & devastating meltdown of the global financial system and since 2001 we’ve cut taxes & expanded corporate tax breaks instead of paying for our two wars).

(Community Matters) yum, Friday night date night – dinner and the Great Debaters in the pool house.

(Community Matters) My nephew, Shaun, and his buddy Luke who flew in from Pensacola today for ACL. Can’t believe these guys. Last time I saw Luke, was their high school graduation night. Serious, successful university students now. Surprised them with VIP passes. I chickened out, dropped them at the Republic Plaza bus stop. Steven and I will join them for part of the day tomorrow. AAS photo

(Community Matters) Wow, the garden has really taken off. Today, Drew Liedeker harvested 40+ bunches of basil (if you hurry, you can get ’em still at Wheatsville), plus a bucket of beans and some okra.

beans

okra

still a lot of basil growing

(Community Matters) Jerry, Alex, Edwin and the guys keep this place humming.

Painting, restaining, gutters, new lights in the pool house, changing out glass in the pool house doors, touchups all over. Love these guys, they take care of our place as if it’s their own.

(Community Matters) My friend Brian Kelsey from Capitol Area Council of Governments

We’re now 21 months into the recession, and some economists are pointing to September as the possible end date. Prognosticators have taken their fair share of criticism over the past 21 months, but my faith has been somewhat restored lately. IHS Global Insight early this year predicted that total employment in Austin-Round Rock would decline by less than one percent during 2009, and so far that’s looking like a pretty good bet. According to the August report from the Texas Workforce Commission (TWC), total nonfarm employment in Austin-Round Rock declined by 7,200 jobs, or 0.9 percent, between August 2008 and August 2009. Here are the talking points on specific sectors:

· Manufacturing and construction continue to bear the brunt of the recession here, like in many other regions around the U.S. Manufacturing employment in Austin-Round Rock totaled 51,600 jobs in August 2009, down 11.5 percent from one year earlier. Construction and related industries were down by 7.3 percent.

· Tech manufacturing continues its downward slide. Computer and electronic product manufacturing was down to 25,800 jobs in August 2009, a 13.7 percent decline from one year earlier. This is not a new story, so here’s some historical perspective: According to TWC’s data, the last time monthly employment in that sector totaled fewer than 26,000 jobs was October 1990. The peak was 49,900 jobs in January 2001.

· We must love our food and entertainment here. Despite consumers dialing back on discretionary spending, restaurants and bars added 2,400 jobs between August 2008 and August 2009, a 3.8 percent gain. Population growth can explain part of that increase, but I’m still impressed.

· Government spending may be propping up employment in other sectors (e.g., transportation, utilities), but it’s playing only a minor role in direct job creation. Total government employment in Austin-Round Rock grew by only 1,900 jobs, or 1.2 percent, between August 2008 and August 2009. Interestingly, local government added 4,500 jobs, while state government lost 2,500 jobs. Federal employment was virtually unchanged.