'Dysfunctional' pension plans need radical fix now > Blog > State Budget Solutions
Public-sector context is where taxpayers are on the hook for fundamental flaws and outright corruption in state and municipal defined benefit plans.
As of June 30 of this year, they fell at least another 9.3 percent behind where they need to be - by their own arithmetic - to pay pension benefits.
They lost money, all contributions went to paying current benefits instead of being invested to pay the future benefits earned by current workers, and they had to cannibalize assets to pay benefits.
Taken as a whole, public defined benefit plans have fallen and never can get back up.
The numbers are irrefutable.
Somebody is going to have to make up more almost $5 trillion because the tab is rising fast and so-called "reforms" in 44 states do little or nothing to pay it down.
Politicians expect taxpayers who already face a retirement crisis of their own to pay trillions of dollars more to receive no government services of any kind.
Saturday, October 06, 2012
Proposed Federal Mandate Would Cost $57.2 Million Per Life Saved
Proposed Federal Mandate Would Cost $57.2 Million Per Life Saved [Michigan Capitol Confidential]
The National Highway Traffic Safety Administration says it hopes to complete a rule that would require rear view cameras in the back of vehicles, which could cost as much as $57.2 million per life saved.
Equipping all vehicles with the rearview camera with interior mirror display would cost between $1.1 billion to $2.57 billion and is estimated to result in 26 to 69 "total fatalities avoided," according to NHTSA documents.
The National Highway Traffic Safety Administration says it hopes to complete a rule that would require rear view cameras in the back of vehicles, which could cost as much as $57.2 million per life saved.
Equipping all vehicles with the rearview camera with interior mirror display would cost between $1.1 billion to $2.57 billion and is estimated to result in 26 to 69 "total fatalities avoided," according to NHTSA documents.
Rays of hope as Britain switches to new light bulbs and a grey autumn
Rays of hope as Britain switches to new light bulbs and a grey autumn - Telegraph
But most of all it is the quality of the light they emit that upsets me.
The CFL bulbs drape everything in a sickly pallor reminiscent of Romanian orphanages.
Every time I sit down to read a book, my heart sinks as the page reflects back a deathly, damp patch of bluish grey;
it turns lovingly prepared food into something served up in a 24-hour carvery;
a family game of Scrabble becomes supervised recreation hour at Pentonville Prison.
But most of all it is the quality of the light they emit that upsets me.
The CFL bulbs drape everything in a sickly pallor reminiscent of Romanian orphanages.
Every time I sit down to read a book, my heart sinks as the page reflects back a deathly, damp patch of bluish grey;
it turns lovingly prepared food into something served up in a 24-hour carvery;
a family game of Scrabble becomes supervised recreation hour at Pentonville Prison.
If He’s Lost the New Yorker…
If He’s Lost the New Yorker… | Power Line"So I guess it’s unanimous.
Clint Eastwood was right.
But here is what I don’t understand: why isn’t everyone embarrassed to be a liberal?
Or, put another way, a Democrat?
How is it that some people can witness the latest liberal fiasco–Romney sneaked a crib sheet into the debate!
That’s the only way he could remember all those facts!
No one could actually know all that stuff!–and say, hey, I don’t mind associating with those people! They’re not idiots, they’re just Democrats, like me!'
Egelston Township supervisor race attracts six write-in candidates, more possible
Egelston Township supervisor race attracts six write-in candidates, more possible | MLive.com
But Chappell died Sept. 10. With candidate registration deadlines passed, the race came down to write-in candidates.
But Chappell died Sept. 10. With candidate registration deadlines passed, the race came down to write-in candidates.
Mass rally in Venice to call for independence from Italy
Mass rally in Venice to call for independence from Italy - Telegraph
Inspired by the nationalist aspirations of Scotland and Catalonia, pro-independence campaigners will hold a mass rally in the heart of the lagoon city on Saturday, calling for an urgent referendum to be held on the issue.
Inspired by the nationalist aspirations of Scotland and Catalonia, pro-independence campaigners will hold a mass rally in the heart of the lagoon city on Saturday, calling for an urgent referendum to be held on the issue.
Friday, October 05, 2012
The Books Weren’t Cooked. Obama’s Recovery Is Just Crap
The Books Weren’t Cooked. Obama’s Recovery Is Just Crap. | RedState
Flipping burgers at McDonalds on a part time basis has suddenly become a job Barack Obama wants to brag about as a full time success story.
There’s the issue.
It’s not a conspiracy.
It’s crap.
Flipping burgers at McDonalds on a part time basis has suddenly become a job Barack Obama wants to brag about as a full time success story.
There’s the issue.
It’s not a conspiracy.
It’s crap.
Thursday, October 04, 2012
Miguel Cabrera Wins the Triple Crown
Miguel Cabrera Wins the Triple Crown - NYTimes.com
Ruth never did it. Neither did DiMaggio, Aaron, Musial, Clemente or Mays. Ted Williams did it twice, and Mickey Mantle once.
The last player to accomplish the feat was Carl Yastrzemski of the Boston Red Sox in 1967, when Lyndon Johnson was president, free agency was a pipe dream and the Boston left fielder known as Yaz chain smoked cigarettes in the dugout.
Ruth never did it. Neither did DiMaggio, Aaron, Musial, Clemente or Mays. Ted Williams did it twice, and Mickey Mantle once.
The last player to accomplish the feat was Carl Yastrzemski of the Boston Red Sox in 1967, when Lyndon Johnson was president, free agency was a pipe dream and the Boston left fielder known as Yaz chain smoked cigarettes in the dugout.
Romney Hit It Out of the Park » Oceana County Republicans
Super comments and link from our old friend, now up in Oceania county, Bob Carr:
Romney Hit It Out of the Park » Oceana County Republicans
"As I watched the debate, without a teleprompter and seemingly after too many golf outings in the sun the President looked tired and at times confused;
I was again reminded of Clint Eastwood’s “Empty Chair” skit.
How’s that golf working for ya?
But as I watched the debate I couldn’t help but think someone else was looking down and Approving of Mitt’s efforts.
Let’s Win this one for the Gipper"
Romney Hit It Out of the Park » Oceana County Republicans
"As I watched the debate, without a teleprompter and seemingly after too many golf outings in the sun the President looked tired and at times confused;
I was again reminded of Clint Eastwood’s “Empty Chair” skit.
How’s that golf working for ya?
But as I watched the debate I couldn’t help but think someone else was looking down and Approving of Mitt’s efforts.
Let’s Win this one for the Gipper"
From my "friend" Barry this morning:
James
--
I hope I made you proud out there explaining the vision we share for this country.
Now we need to go win this election -- the most important thing that will happen tonight is what you do (or don't do) to help in the little time we have left:
https://donate.barackobama.com/Tonight
Thank you,
Barack
He doesn't seem too happy..........
I hope I made you proud out there explaining the vision we share for this country.
Now we need to go win this election -- the most important thing that will happen tonight is what you do (or don't do) to help in the little time we have left:
https://donate.barackobama.com/Tonight
Thank you,
Barack
He doesn't seem too happy..........
Wednesday, October 03, 2012
Obama's Re-Election Case Rests On 5 Phony Claims
Obama's Re-Election Case Rests On 5 Phony Claims - Investors.com
But each part of Obama's argument is based on claims that are not accurate:
But each part of Obama's argument is based on claims that are not accurate:
Forget The Breakup Of The EU, How About The Breakup Of Spain?
The Scratching Post: Forget The Breakup Of The EU, How About The Breakup Of Spain?
Catalonia is one of Spain's wealthiest regions and it includes Barcelona.
They have their own culture and their own language.
They've always had an independent streak and right now, they aren't all that enthused about sticking around to watch the place fall to pieces
Catalonia is one of Spain's wealthiest regions and it includes Barcelona.
They have their own culture and their own language.
They've always had an independent streak and right now, they aren't all that enthused about sticking around to watch the place fall to pieces
DHS ‘fusion centers’ portrayed as pools of ineptitude and civil liberties intrusions
DHS ‘fusion centers’ portrayed as pools of ineptitude and civil liberties intrusions
The Washington Post
But after nine years — and regular praise from officials at the Department of Homeland Security — the 77 fusion centers have become pools of ineptitude, waste and civil liberties intrusions, according to a scathing 141-page report by the Senate Homeland Security and Governmental Affairs permanent subcommittee on investigations.
The Washington Post
But after nine years — and regular praise from officials at the Department of Homeland Security — the 77 fusion centers have become pools of ineptitude, waste and civil liberties intrusions, according to a scathing 141-page report by the Senate Homeland Security and Governmental Affairs permanent subcommittee on investigations.
Two more foreign ships arriving at Muskegon's Mart Dock; public invited on the dock Thursday noon
Two more foreign ships arriving at Muskegon's Mart Dock; public invited on the dock Thursday noon | MLive.com
Mart Dock officials will have a noontime tour of the dock Thursday.
Those interested in attending are asked to register on the Mart Dock’s Facebook page and gather at the security gate at noon.
Mart Dock officials will have a noontime tour of the dock Thursday.
Those interested in attending are asked to register on the Mart Dock’s Facebook page and gather at the security gate at noon.
Hans von Spakovsky
Hans von Spakovsky
He is the co-author with John Fund of the new book “Who’s Counting?: How Fraudsters and Bureaucrats Put Your Vote at Risk” (Encounter Books, 2012).
He is the co-author with John Fund of the new book “Who’s Counting?: How Fraudsters and Bureaucrats Put Your Vote at Risk” (Encounter Books, 2012).
Oakridge finally settles teachers contract with 'cost-avoidance' agreement
Oakridge finally settles teachers contract with 'cost-avoidance' agreement | MLive.com
After two years of “volatile” negotiations, Oakridge Public Schools has a new labor contract with its teachers.
The three-year contract goes back two years and covers this school year.
It includes no wage increases, other than one year of step increases, teachers taking on a larger share of insurance costs and the elimination of an early retirement incentive.
After two years of “volatile” negotiations, Oakridge Public Schools has a new labor contract with its teachers.
The three-year contract goes back two years and covers this school year.
It includes no wage increases, other than one year of step increases, teachers taking on a larger share of insurance costs and the elimination of an early retirement incentive.
Broken Promise Zone: Scholarship requirements 'just impossible'
Broken Promise Zone: Scholarship requirements 'just impossible' | MLive.com
It was hailed as a last-chance scholarship for needy students, but two years after Muskegon County’s Promise Zone was approved, students have yet to receive any money.
That’s because the state guidelines for the Promise Zone that would require the county to raise $2 million are unrealistic and unworkable, said Muskegon Area Intermediate School District Superintendent Dave Sipka.
It was hailed as a last-chance scholarship for needy students, but two years after Muskegon County’s Promise Zone was approved, students have yet to receive any money.
That’s because the state guidelines for the Promise Zone that would require the county to raise $2 million are unrealistic and unworkable, said Muskegon Area Intermediate School District Superintendent Dave Sipka.
Lacks Enterprises CEO offers voting advice in memo announcing employee bonus
Lacks Enterprises CEO offers voting advice in memo announcing employee bonus | MLive.com
The president and CEO of Lacks Enterprises is warning his company's 2,300 employees their paychecks will be smaller if President Barack Obama is re-elected.
Richard Lacks urged his employees to “vote to improve your standard of living” in a letter notifying them of their sixth bonus in almost three years thanks to the good times his automotive parts company has enjoyed.
The president and CEO of Lacks Enterprises is warning his company's 2,300 employees their paychecks will be smaller if President Barack Obama is re-elected.
Richard Lacks urged his employees to “vote to improve your standard of living” in a letter notifying them of their sixth bonus in almost three years thanks to the good times his automotive parts company has enjoyed.
Mitt Romney, Paul Ryan crop art featured in Jackson County field
Mitt Romney, Paul Ryan crop art featured in Jackson County field | MLive.com
This crop art featuring a portrait of the Republican presidential ticket of Mitt Romney and Paul Ryan is in a field owned by Hank Choate of Liberty Township.
This crop art featuring a portrait of the Republican presidential ticket of Mitt Romney and Paul Ryan is in a field owned by Hank Choate of Liberty Township.
Truth Squad: Technical foul on pro-home health care claim
Truth Squad: Technical foul on pro-home health care claim | MLive.com
Technical foul. The ad presents Proposal 4 as a bulwark against policy actions that are mischaracterized (such as the state income tax on pension) or have not occurred ("ending Medicare as we know it").
The ad featuring Sheriff Wriggelsworth would have the viewer believe that criminal background checks are not in place right now, but the co-chair of the Prop 4 campaign admits such checks are being done.
Technical foul. The ad presents Proposal 4 as a bulwark against policy actions that are mischaracterized (such as the state income tax on pension) or have not occurred ("ending Medicare as we know it").
The ad featuring Sheriff Wriggelsworth would have the viewer believe that criminal background checks are not in place right now, but the co-chair of the Prop 4 campaign admits such checks are being done.
Tuesday, October 02, 2012
Federal Law? What Federal Law?
Federal Law? What Federal Law? : The Other McCain
Obama convinced Lockheed Martin to delay the layoff notification until after the election. Don’t like it? You’re a racist!
(Trying to get me one of those Elspeth Reeve gigs at the Atlantic.)
Last week, one of my tip-jar hitters informed me that he was one of the 575 people to be laid off when Sikorsky shut down its Black Hawk helicopter plant in New York State. When the Obama deficits start hurting my tip-jar hitters, I get angry.
UPDATE: Gabriel Malor at New York Daily News:
Because, hey, who cares about a freakin’ federal law, when following it might hurt Obama’s re-election chances?
UPDATE II: Yeah, let’s add this:
Robert Stacy McCain@rsmccain
Federal Law? What Federal Law?
Posted on | October 1, 2012 | 12 Comments and 0 Reactions
Ace gave this the Flaming Skull™ and pinned it to the top of his blog: There is a federal law that requires employers to give advance notice of layoffs. Because of Obama’s massive deficits, defense contractors will have to lay off tens of thousands of employees.Obama convinced Lockheed Martin to delay the layoff notification until after the election. Don’t like it? You’re a racist!
(Trying to get me one of those Elspeth Reeve gigs at the Atlantic.)
Last week, one of my tip-jar hitters informed me that he was one of the 575 people to be laid off when Sikorsky shut down its Black Hawk helicopter plant in New York State. When the Obama deficits start hurting my tip-jar hitters, I get angry.
UPDATE: Gabriel Malor at New York Daily News:
In case you missed it over the weekend, the Obama administration’s Friday afternoon document drop was a memo from the Department of Labor telling defense contractors not to provide legally-required notice to thousands of employees that they are about to be laid off, if automatic spending cuts agreed to by the President and the Congress take effect.
Translation: President Obama wants to prevent thousands of employees, especially in swing-state Virginia, from being told that they are going to be laid off due to Department of Defense funding cuts. Because of the timing of the cuts, those notices would have been sent to employees just prior to the election in November. The man who signed those funding cuts into law would like to avoid that.
It’s worth noting that blog sidekick Smitty works for a defense contractor. Are they going to lay Smitty off? We don’t know.Translation: President Obama wants to prevent thousands of employees, especially in swing-state Virginia, from being told that they are going to be laid off due to Department of Defense funding cuts. Because of the timing of the cuts, those notices would have been sent to employees just prior to the election in November. The man who signed those funding cuts into law would like to avoid that.
Because, hey, who cares about a freakin’ federal law, when following it might hurt Obama’s re-election chances?
UPDATE II: Yeah, let’s add this:
Robert Stacy McCain@rsmccainTrying to decide what I hate most about @BarackObama: His routine dishonesty, his narrow selfishness or his stunning cynicism. #ToughChoices
Jay Leno pokes fun at Muskegon Heights Middle School on The Tonight Show
Jay Leno pokes fun at Muskegon Heights Middle School on The Tonight Show | MLive.com
The banner pictured in Leno’s photograph has been taken off of Muskegon Heights Middle School, replaced by one with the phrase “Game On” created by charter district operator, Mosaica Education Inc.
“That’s right,” Leno said. “Work hard kids and you can be adequate.”
The banner pictured in Leno’s photograph has been taken off of Muskegon Heights Middle School, replaced by one with the phrase “Game On” created by charter district operator, Mosaica Education Inc.
“That’s right,” Leno said. “Work hard kids and you can be adequate.”
Skydiver aims to break sound barrier in free fall
My Way News - Skydiver aims to break sound barrier in free fall
"After this," he promises, "I'm going to retire because I've been successfully doing things for the last 25 years and I'm still alive."
"After this," he promises, "I'm going to retire because I've been successfully doing things for the last 25 years and I'm still alive."
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