An apparent legislative drafting error has created a massive loophole in the state's new campaign-contribution-limit law, and ComEd and its parent company Exelon have been aggressively exploiting it since early this year.

State campaign-finance-reform laws that capped campaign contributions went into effect January 1. One provision of the new law set a $50,000 cap on what political action committees could receive from other political action committees during a calendar year.

Despite that cap, Exelon's federal PAC has transferred more than $189,000 this year to a state PAC controlled by subsidiary ComEd. Those transfers appear to be almost four times larger than the law allows.

Iowa Attorney General Tom Miller ranks second in the nation for receiving campaign money from lawyers in the past five years and is among the friendliest to trial lawyers' agenda, according to a report released October 25 by a conservative think tank.

But Miller denounced the report as inaccurate and called it a "cheap shot" from a corporate interest group. He said that campaign-finance data citing $338,223 in contributions in three weeks came from a discredited report, that claims about him keeping a low profile are "ridiculous," and that more-favorable data about Iowa's business climate are "conveniently omitted."

"If the Center for Legal Policy were subject to Iowa's Consumer Fraud Act, we'd probably bust them because of their outright misrepresentations," Miller told IowaPolitics.com. "This report is riddled with misrepresentations and omissions of important facts."

Llewellyn H. Rockwell Jr.The "occupy" protest movement is thriving off the claim that the 99 percent are being exploited by the 1 percent, and there is truth in what they say. But they have the identities of the groups wrong. They imagine that it is the 1 percent of highest wealth-holders who are the problem. In fact, that 1 percent includes some of the smartest, most innovative people in the country - the people who invent, market, and distribute material blessings to the whole population. They also own the capital that sustains productivity and growth.

But there is another 1 percent out there, those who do live parasitically off the population and exploit the 99 percent. Moreover, there is a long intellectual tradition, dating back to the late Middle Ages, that draws attention to the strange reality that a tiny minority lives off the productive labor of the overwhelming majority.

I'm speaking of the State, which even today is made up of a tiny sliver of the population but is the direct cause of all the impoverishing wars, inflation, taxes, regimentation, and social conflict. This 1 percent is the direct cause of the violence, the censorship, the unemployment, and vast amounts of poverty, too.

It's long been a tenet of public opinion that voters want the government to cut its budget and don't want new revenues, but also don't want any actual programs slashed.

However, the latest Paul Simon Public Policy Institute poll shows a slow but sure trend in favor of specific state budget cuts and revenue increases.

A large majority of Illinoisans do still believe in magic. According to the poll, 58 percent say the state budget can be balanced by cutting waste and inefficiency. And because of this belief in an utter fantasy world where fairies reign and pixie dust solves all our problems, too few want to actually cut state spending programs.

Texas Governor Rick Perry touts his immigration record as a strength, but his opponents for the GOP presidential nomination accuse him of creating a magnet to draw illegal immigrants across the border.

His state's decision to offer in-state tuition rates to undocumented students through the Texas DREAM Act has drawn a barrage of questions from Iowans on recent visits, and a stream of attacks from fellow conservatives.

Former Massachusetts Governor Mitt Romney threw the most recent elbow during a Sioux City stop on October 20, saying he had nixed a similar proposal in the Bay State.

The spreading Occupy Wall Street movement, despite a vague worldview and agenda, properly senses that something is dreadfully wrong in America. The protesters vent their anger at the big financial institutions in New York's money district (as well as other big cities) for the housing and financial bubble, the resulting Great Recession, the virtual non-recovery, the threat of a second recession, and the long-term unemployment - which averages more than 9 percent but hits certain groups and areas far more severely than others.

The protest is understandable, even laudable, but there's something the protesters need to know: Wall Street couldn't have done it alone. The protesters' wrath should also be directed at the national government and its central bank, the Federal Reserve System, because it took the government or the Fed (or both) to:

• create barriers to entry, for the purpose of sheltering existing banks from competition and radical innovation;

• then regulate for the benefit of the privileged industry;

Widespread economic uncertainty and the possibility of another recession led a state panel on October 14 to adjust Iowa's projected state revenue downward slightly for the current fiscal year.

The panel, however, still is predicting slight growth over last year.

The Revenue Estimating Conference (REC), a three-member panel that makes the state's official prediction of state revenue, lowered the Fiscal Year 2012 estimate to $5.97 billion, which is $17.5 million less than the panel's projection in March. The new estimate paces growth at 1.3 percent, or $75.9 million, from last fiscal year.

Jerry CostelloIllinois Democrats can be excused for feeling more than a little spooked these days.

And there's probably no greater example about why they are so worried than the stunning announcement earlier this month that longtime Democratic Congressman Jerry Costello won't run for re-election.

Shock combined with fear was in almost every Democratic voice the day of Costello's announcement. If Costello was bailing on them, then things must be even worse than they thought. It didn't help that there appeared to be no "reason" for his decision. His son, state Representative Jerry Costello II, immediately defied all expectations by saying he wasn't interested in the seat, so Costello wasn't stepping aside for the kid. The congressman wasn't ill. He didn't have a job offer. He isn't under investigation. The widespread conclusion was that it must be the worsening political environment.

In support of, and in reaction to, the thousands protesting since September 17 in New York City as Occupy Wall Street, some Quad Citians are organizing a local protest under the banner Occupy Quad Cities. As of press time for this edition, the location(s) and date(s) for Occupy Quad Cities have not been determined or announced.

In the spirit of solidarity with those who also recognize the status quo is unacceptable, I offer the following unsolicited advice, observations, and musings to all who feel a desire to take civic action and get involved in such a project here locally.

As with most movements that threaten the status quo, Occupy Wall Street (OWS) is being co-opted by that very status quo, under the guise of class warfare, in order to continue pitting Americans against each other.

This movement needs to focus on the big picture. The government facilitates the monopolies that corporations use to exercise their greed. And the Federal Reserve funds these elites' escapades - wars and welfare - with bailouts and inflationary money presses.

Protesters' anger should be directed at the Federal Reserve System, an unconstitutional banking cartel, and corporatism - the merging of big government and big business.

Ron Paul has pushed for an audit of the Fed. When America realizes the Fed creates the economic cycles that strip us of the hard-earned fruits of our labor and makes us poorer through the inflation tax, the Fed will be put out of business and we'll see the restoration of sound money.

OWS should take a look at OccupyTheFedNow.com to understand the real problem.

Mike Angelos
Davenport

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