As states face mounting deficits, corporate lobbyists have been promoting the idea that privatization of public services and assets is a free lunch -- services can be delivered more cheaply than by public employees and public assets like highways can be sold or leased for a hefty return to the taxpayer. As PSN has detailed in our December 2007 report Privatizing in the Dark: The Pitfalls of Privatization & Why Budget Disclosure is Needed, the promises of privatization too often yield to a reality of lost money and degraded services, weak oversight and lost expertise, assets sold off for short-term gains but long-term loss, lost democratic accountability, and the corruption of the political process.
In the past few years states have become increasingly unwillingly torely on the chance that volatile global investment markets will chooseto invest in their local communities. Instead, states are choosing todirectly invest themselves in local emerging opportunities. The greatadvantage of direct investment, instead of simply raiding the statetreasury and giving away corporate welfare, is that by making directinvestment in local businesses, states create a financial stake infirms. If these businesses are successful, they will return equity tothe tax payers that can be reinvested in other projects. According to the National Association of Seed and Venture Fund, as of 2006, all but six states had state venture capital funds.
While the financial crisis has received more of the headlines, there has been a growing unemployment crisis over the last year.
With unemployment at a five-year high, nearly 10 million Americans were
officially unemployed last month, with nearly 500,000 workers applying
for benefits each week. And the problem doesn't stop there, with
long-term joblessness rising:
Several battleground states are not prepared to meet the challenge
of administering the general election on November 4th, where turnout
will be unprecedented, According to a report conducted by Advancement Project, a national leading voter protection organization.
assess, and help ensure, the nation’s readiness for the November
general election, Advancement Project obtained public records and other
public information on the allocation, at the precinct level, of voting
machines (or, in the case of jurisdictions that use optical scan
machines, voting privacy booths) and poll workers in the following
states: Florida, Michigan, Missouri, Nevada, Ohio, Pennsylvania, and