Is anyone surprised that New Jersey’s efforts to revitalize Atlantic City are failing?
The news that AC’s latest hope for revival, Revel, is on the verge of bankruptcy and foreclosure is no shock. As Trump’s multiple bankruptcies over the years demonstrated, casino lenders are the biggest losers, next to bussed in seniors lured by a free roll of quarters, in AC.
Vice has always been the key to Atlantic City’s economic viability. For good reason. The place is a dump. You have to drive through a swamp to get there. It is very inconvenient. The lure of doing something enjoyable that is forbidden elsewhere has been the key to Atlantic City’s economy since the days of Nucky Thompson.
Now that legalized gambling is available in more convenient places and liquor is legal most everywhere, Atlantic City is doomed, unless it comes up with a new vice to make available.
Scott Rasmussen is reporting that 57% of Americans have a favorable impression of Hostess Twinkies and that 69% are following the news about the baking company. 31% are closely following the Twinkie news.
Republicans had better learn from history — and from Ronald Reagan’s mistake.
President Obama and his fellow big-spenders in Congress are promising if they get higher tax rates today they’ll make even higher spending cuts tomorrow.
It’s an old sucker’s game. Republicans — and the rest of the country — should know it by now, because for three decades we’ve all been suckers.
If history is our guide, and Republicans in Congress don’t grow a spine, by this time next year we’ll have higher taxes, higher spending, more debt and a bigger government.
Twice before, Republicans have been fooled into playing the Democrats’ con game.
It happened to my father early in his first term when he sought to close a growing federal deficit caused by the deep economic recession. He believed Democrats in Congress would keep their pledge to make $3 in future spending cuts for every $1 in immediate tax increases.
In 1982 he signed a compromise tax bill with the horrible name of TEFRA — the Tax Equity and Fiscal Responsibility Act. And, when those promised spending cuts never materialized in Congress, TEFRA became one of the biggest regrets of my father’s presidency.
My father was duped by the duplicity of Democrats. And so was George H.W. Bush less than a decade later, when he foolishly allowed himself to be taken for the same ride.
Belmar Mayor Matt Doherty Photo Credit Mark Bonamo, NJ.com
Belmar Mayor Matt Doherty and his colleagues on the Borough Council are acting on their pledge to rebuild the town’s boardwalk by Memorial Day 2013.
NJ.com reports that the governing body introduced a $20 million bond ordinance last week to provide the initial funding of the reconstruction.
Doherty said that Belmar’s property taxpayers will not be on the hook for the cost of the new boardwalk, with FEMA and the borough’s beach utility, which is funded by beach badge fees, paying off the bonds.
“It’s our understanding is that FEMA will pick up 75 percent of the expense, based on the language coming from the White House,” said Doherty, 39. “The remaining amount will come from the beach utility itself. So if you don’t use the beach, you’re not paying for anything. And zero dollars are coming from residential property-tax payers, with no property-tax hike anticipated.”
Beach badge prices are expected to rise from $7 to $8 for daily passes and for $50 to $55 for seasonal passes.
The mayor, a Democrat, had kind words for Governor Christie, but not so kind words for another Doherty, State Senator Michael Doherty. The senator has proposed legislation that would eliminate a beach town’s ability to sell beach badges if state or federal funds are used to rebuild from Hurricane Sandy.
“I think Gov. Christie has done an outstanding job in his leadership, and one of the things he’s been very effective at is keeping politics out of anything related to the Hurricane Sandy recovery efforts,” Doherty, a Democrat, said. “I wish that Sen. Doherty would follow Gov. Christie’s lead as well. It’s nothing more than trying to score cheap political points after arguably the worst natural disaster that our state has ever experienced.”
The bond ordinance is expected to be passed at the December 3 meeting of Belmar’s council.
Spring Lake resident James Lincoln Turner’s Seven Superstorms of the Northeast: And Other Blizzards, Hurricanes & Tempests is a book that Al Gore and his comrades probably don’t want you to read. Tuner writes of devastating storms in the Northeast dating back to the early 1600’s when the Pilgrims were warming the globe with campfires and horse dung was the biggest transportation related pollution. Turner’s book is filled with historical photos of storms that ravaged the Monmouth County towns of Asbury Park, Ocean Grove, Red Bank and Sea Bright.
MoreMonmouthMusings is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com
Hostess Brands, the maker of Twinkies, Wonder Bread, Devil Dogs and Ding Dongs is going out of business.
The company, which is in Chapter 11, asked a federal judge to for permission to liquidate after its labor union went on strike rather than accept the contract concessions the bankruptcy court imposed.
The company had annual sales of $2.5 billion and employed 18,500 people.
is the story of a small town in the shadow a big city that was devastated by Hurricane Katrina. It is an encouraging and inspirational tale that will be a great gift for those of us impacted by Sandy.
is a book that Al Gore and his comrades probably don’t want you to read. Tuner writes of devastating storms in the Northeast dating back to the early 1600’s when the Pilgrims were warming the globe with campfires and horse dung was the biggest transportation related pollution. Turner’s book is filled with historical photos of storms that ravaged the Monmouth County towns of Asbury Park, Ocean Grove, Red Bank and Sea Bright.