Daily Fix, April 18

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Taxes are due today, S&P moves their rating to negative, sending stocks plummeting, Senator Dennis Stowell loses his battle with cancer and the Salt Lake County GOP has new leadership.

*Today is the last day to file your taxes on time. Or, you could file an extension…..

*Standard & Poor’s Ratings Services announced Monday it was lowering its outlook on U.S. debt from “stable” to “negative.” Markets immediately fell on the news, with the Dow Jones dropping 214 points as of 1 p.m. Both parties took the opportunity to cast blame on the other side. Those stark divisions were noted by S&P, which said it was reducing its outlook out of pessimism that Democrats and Republicans will be able to fundamentally address U.S. budget woes. “More than two years after the beginning of the recent crisis, U.S. policymakers have still not agreed on how to reverse recent fiscal deterioration or address longer-term fiscal pressures,” wrote Standard & Poor’s credit analyst Nikola Swann. The Hill

*Senator Dennis Stowell, representing District 28, which includes Garfield, Kane, Iron, Beaver, Millard, and part of Washington County. He was an ardent supporter of water rights and devoted to public service, including being at the legislature every possible moment during the 2011 session. He will be missed. SenateSite

*In Salt Lake county, less than half of the county delegates showed up to the GOP organizing convention – about average (or maybe a bit higher, even) for an “off” year. Planned Parenthood had a booth again, as did the candidates for various county offices, Senator Hatch, Congressman Jason Chaffetz and others. There were three candidates for county chair – Julie Dole, elected just a month ago to temporarily replace Thomas Wright who became the state chair, Ryan Jenkins and Rick Votaw. Julie Dole won on the first ballot with 54% of the vote. There were also three vice-chair candidates – Michelle Mumford, Chad Bennion and Pat Malan. Pat dropped out as he gave his speech. Michelle, an attorney, won the position with close to 60% of the vote. The new secretary is Mark Mills and the new treasurer is Rob Anderson. It would appear that Utah is continuing the national trend of electing conservative women!

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2 Responses to “Daily Fix, April 18”

  1. rmwarnick Says:

    S&P did not downgrade U.S. debt. They simply raised the possibility, based not on analysis but an opinion that’s no better than anyone else’s. Wall Street overreacted. Remember that Moody’s did the exact same thing back in March 2010.

    Maybe if the GOP would stop making empty threats about the debt limit, Wall Street would settle down. There is no real disagreement among the adults in Washington (sorry, Senator Lee). The National Debt is going up until the economy recovers and the Bush-Obama tax cuts for the rich expire.

  2. Pops Says:

    You’ve been sold a bill of goods, rmwarnick. If the government were to confiscate all the assets of all the billionaires in America, it wouldn’t cover the budget deficit for one year, let alone the budget. Attempts to foment class warfare are nothing more than a distraction to prevent us from focusing on the real problem, which is out-of-control spending.

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