Mort Zuckerman: Brace For an Avalanche of Unfunded Debt - US News and World Report
The greatest fiscal challenge to the U.S. government is not just its annual deficit but its total liabilities. Our federal balance sheet does not include the unfunded social insurance obligations of Medicare, Social Security, and the future retirement benefits of federal employees.
Only in the small print of the financial statements do you get some idea of the enormous size of the unfunded commitments.
Today the estimated unfunded total is more than $87 trillion, or 550 percent of our GDP.
And the debt per household is more than 10 times the median family income.
Monday, December 31, 2012
The USS Scorpion Buried at Sea
The USS Scorpion Buried at Sea
Despite official denials, several informed sources allege the top-secret Sound Surveillance System (SOSUS) had indeed recorded an underwater duel between Scorpion and a Soviet submarine that ended when the Soviet launched a torpedo that struck and sank the American submarine.
One former SOSUS operator, Vince Collier, came forward decades later to tell in chilling detail how he and other sailors in SOSUS School were shown a bootleg copy of the tape that graphically depicted the death of Scorpion.
Despite official denials, several informed sources allege the top-secret Sound Surveillance System (SOSUS) had indeed recorded an underwater duel between Scorpion and a Soviet submarine that ended when the Soviet launched a torpedo that struck and sank the American submarine.
One former SOSUS operator, Vince Collier, came forward decades later to tell in chilling detail how he and other sailors in SOSUS School were shown a bootleg copy of the tape that graphically depicted the death of Scorpion.
Northern Michigan commissioner blocks Planned Parenthood grant request, says they 'kill babies'
Northern Michigan commissioner blocks Planned Parenthood grant request, says they 'kill babies' | MLive.com
A county commissioner successfully blocked a casino profit sharing request by Planned Parenthood for sex education money this week in northern Michigan, saying the organization exists to “kill babies.”
The Traverse City Record-Eagle reported that Grand Traverse County Commissioner Jason Gillman, a Tea Party adherent who publishes the blog Right Michigan, convinced fellow commissioners to spike a $12,500 grant application for abstinence-based sex education in area schools.
"The organization is designed to kill babies," Gillman reportedly said.
The nicer side of it is only there to mask its evil intent.
is to kill babies."
A county commissioner successfully blocked a casino profit sharing request by Planned Parenthood for sex education money this week in northern Michigan, saying the organization exists to “kill babies.”
The Traverse City Record-Eagle reported that Grand Traverse County Commissioner Jason Gillman, a Tea Party adherent who publishes the blog Right Michigan, convinced fellow commissioners to spike a $12,500 grant application for abstinence-based sex education in area schools.
"The organization is designed to kill babies," Gillman reportedly said.
The nicer side of it is only there to mask its evil intent.
is to kill babies."
Thanks to Congress's Incompetence, Milk Prices Are About to Double
Thanks to Congress's Incompetence, Milk Prices Are About to Double - Jordan Weissmann - The Atlantic
To give you a sense of how farcical this situation is, it's not even clear that the government has enough storage space to stow away all the dry milk, cheese blocks, and butter tubs it will have to purchase for absolutely no reason.
To give you a sense of how farcical this situation is, it's not even clear that the government has enough storage space to stow away all the dry milk, cheese blocks, and butter tubs it will have to purchase for absolutely no reason.
8 College Degrees with the Worst Return on Investment
8 College Degrees with the Worst Return on Investment - Salary.com
These Careers Might Make You Happy, But Fail the Tuition ROI Test
By Dawn Dugan, Salary.com contributing writer.
1. Communications
You'd think the ink-stained newsrooms and TV studios are full of wealthy and famous journalists.
Not quite.
Although these skills require lots of education and training, they buried the lead regarding the lack of payoff.
These Careers Might Make You Happy, But Fail the Tuition ROI Test
By Dawn Dugan, Salary.com contributing writer.
1. Communications
You'd think the ink-stained newsrooms and TV studios are full of wealthy and famous journalists.
Not quite.
Although these skills require lots of education and training, they buried the lead regarding the lack of payoff.
Let's create a Michigan debate commission and pressure candidates to come face-to-face
Tim Skubick: Let's create a Michigan debate commission and pressure candidates to come face-to-face | MLive.com
First it must be a bipartisan panel of souls whom the political parties, the candidates and the public will trust.
The candidates must pledge to buy into whatever decisions are made.
First it must be a bipartisan panel of souls whom the political parties, the candidates and the public will trust.
The candidates must pledge to buy into whatever decisions are made.
Sunday, December 30, 2012
Uncle Sam’s sorry day of reckoning
Uncle Sam’s sorry day of reckoning - NYPOST.com
Monday is Debt Ceiling Day! According to the best guesstimate by Treasury Secretary Timothy Geithner, the federal government on Monday will reach its statutory borrowing limit of $16.4 trillion — or roughly 104 percent of America’s total economic output.
A legal limit on federal debt was first enacted during World War I and has been increased 13 times since 1995.
The most recent increase came after a major political battle in the summer of 2011 — a conflict that also led Standard & Poor’s to strip the United States of its AAA credit rating.
Now we’re back up against it again, thanks to a year when Uncle Sam spent more than $1.3 trillion more than he took in.
Monday is Debt Ceiling Day! According to the best guesstimate by Treasury Secretary Timothy Geithner, the federal government on Monday will reach its statutory borrowing limit of $16.4 trillion — or roughly 104 percent of America’s total economic output.
A legal limit on federal debt was first enacted during World War I and has been increased 13 times since 1995.
The most recent increase came after a major political battle in the summer of 2011 — a conflict that also led Standard & Poor’s to strip the United States of its AAA credit rating.
Now we’re back up against it again, thanks to a year when Uncle Sam spent more than $1.3 trillion more than he took in.
Saturday, December 29, 2012
The Auto Bailout Failure Is Now Complete
Harsanyi: The Auto Bailout Failure Is Now Complete - Conservative News
But the more immediate problem is that we will never get our money back, anyway.
GM’s labor costs, estimated at $56 an hour, still are higher than any of its competitors.
Since the Obama administration cajoled the normal bankruptcy hearings and eradicated the pensions of nonunion workers to ensure union success, employees, like the ones at Delphi, the auto parts manufacturer and one-time GM subsidiary, took it on the chin while $26 billion of taxpayer funds were used to keep United Auto Workers in a secure position.
The Treasury Department has just revised its estimate upward to $25 billion in losses, and it will probably be more than that when it’s all said and done.
Taxpayers also suffered a $2.9 billion loss in Chrysler (the carmaker had received $12.5 billion through TARP programs) in 2011.
But the more immediate problem is that we will never get our money back, anyway.
GM’s labor costs, estimated at $56 an hour, still are higher than any of its competitors.
Since the Obama administration cajoled the normal bankruptcy hearings and eradicated the pensions of nonunion workers to ensure union success, employees, like the ones at Delphi, the auto parts manufacturer and one-time GM subsidiary, took it on the chin while $26 billion of taxpayer funds were used to keep United Auto Workers in a secure position.
The Treasury Department has just revised its estimate upward to $25 billion in losses, and it will probably be more than that when it’s all said and done.
Taxpayers also suffered a $2.9 billion loss in Chrysler (the carmaker had received $12.5 billion through TARP programs) in 2011.
EyeOnMuskegon: Call 'em! They work for YOU!
EyeOnMuskegon: Call 'em! They work for YOU!
County commissioner contact info (Call them! They work for YOU!):
KENNETH MAHONEY (231) 894-8608
TERRY SABO (231) 740-2724
JAMES DEREZINSKI (H) (231) 788-4849
MARVIN ENGLE (H) (231) 865-6116
SUSIE HUGHES (H) (231) 343-4092
CHARLES NASH (H) (231) 767-2345
RILLASTINE R. WILKINS (H) (231) 733-1581
BENJAMIN E. CROSS (H) (231) 670-6047
ROBERT SCOLNIK (H) (231) 798-2828
County commissioner contact info (Call them! They work for YOU!):
KENNETH MAHONEY (231) 894-8608
TERRY SABO (231) 740-2724
JAMES DEREZINSKI (H) (231) 788-4849
MARVIN ENGLE (H) (231) 865-6116
SUSIE HUGHES (H) (231) 343-4092
CHARLES NASH (H) (231) 767-2345
RILLASTINE R. WILKINS (H) (231) 733-1581
BENJAMIN E. CROSS (H) (231) 670-6047
ROBERT SCOLNIK (H) (231) 798-2828
Connecticut attorney asks to sue state after elementary school shooting
Connecticut attorney asks to sue state after elementary school shooting | Fox News
A New Haven attorney is asking permission to sue the state for $100 million on behalf of a student who survived the mass shooting at Sandy Hook Elementary School in Newtown, Connecticut.
A New Haven attorney is asking permission to sue the state for $100 million on behalf of a student who survived the mass shooting at Sandy Hook Elementary School in Newtown, Connecticut.
Muskegon County Republican Party elects 'Tea Party, Ron Paul-types' as executive officers, goes more conservative
Muskegon County Republican Party elects 'Tea Party, Ron Paul-types' as executive officers, goes more conservative | MLive.com
The election of officers marks a change for the Muskegon County Republican Party.
County Commissioner Bob Scolnik, the senior elected Republican in the county, called it a “direction I’m not 100 percent in favor with."
“It’s pretty much taken over by the Tea Party, Ron Paul-types and Libertarians,” Scolnik said. “I’m more of a moderate, Ronald Reagan-type Republican.
I do not believe they represent the mainstream Republican thought.”
Fink previously served as vice chairman of the party, but the others are new to formal leadership in the party.
Rothoff, who actively follows Muskegon County government activities, ran unsuccessfully for county treasurer, losing in the general election.
The Republicans fared poorly in the election, losing races for clerk, treasurer and several County Board of Commissioners seats.
The election of officers marks a change for the Muskegon County Republican Party.
County Commissioner Bob Scolnik, the senior elected Republican in the county, called it a “direction I’m not 100 percent in favor with."
“It’s pretty much taken over by the Tea Party, Ron Paul-types and Libertarians,” Scolnik said. “I’m more of a moderate, Ronald Reagan-type Republican.
I do not believe they represent the mainstream Republican thought.”
Fink previously served as vice chairman of the party, but the others are new to formal leadership in the party.
Rothoff, who actively follows Muskegon County government activities, ran unsuccessfully for county treasurer, losing in the general election.
The Republicans fared poorly in the election, losing races for clerk, treasurer and several County Board of Commissioners seats.
Black judge commutes four killers’ sentences based on race
Black judge commutes four killers’ sentences based on race
Commuting a black man’s death sentence to life in prison, the judge cited “the persistent, distorting role of race in jury selection in North Carolina.”
He never argued the man – found guilty of kidnapping and robbing a teenager before shooting him in the face – might be innocent.
Since the Racial Justice Act gave him the discretion, he simply declared prosecutors were racist and gave a murderer a get-out-of-death-row-free card.
Commuting a black man’s death sentence to life in prison, the judge cited “the persistent, distorting role of race in jury selection in North Carolina.”
He never argued the man – found guilty of kidnapping and robbing a teenager before shooting him in the face – might be innocent.
Since the Racial Justice Act gave him the discretion, he simply declared prosecutors were racist and gave a murderer a get-out-of-death-row-free card.
Numbers Game
Numbers Game [Michigan Capitol Confidential]
And yet, if the lower estimates are the correct ones, this would be the second indication in the past two months that the political appeal and power of unions here is much less than imagined.
And yet, if the lower estimates are the correct ones, this would be the second indication in the past two months that the political appeal and power of unions here is much less than imagined.
Here's One Reason Why Someone Would Need To Own An 'Assault' Rifle
Here's One Reason Why Someone Would Need To Own An 'Assault' Rifle - Investors.com
Consider that, according to FBI data, in 2007, there were 453 homicides by rifle in the U.S.
Yes, that's too many. But compare that number to a few other methods of homicide employed that year.
In 2007, there were 1,817 homicides committed with "knives or cutting instruments"; "blunt objects (clubs, hammers, etc.)" killed 674; while "personal weapons (hands, fists, feet, etc.)" were the choices in 869 homicides.
The number of rifle homicides has fallen steadily since then to 323 last year, as have the other three weapon classes, though each still remains a more common choice than the rifle.
In fact, when added together, knives, blunt instruments and the human body were responsible for more than nine times as many homicides as rifles in 2011.
Consider that, according to FBI data, in 2007, there were 453 homicides by rifle in the U.S.
Yes, that's too many. But compare that number to a few other methods of homicide employed that year.
In 2007, there were 1,817 homicides committed with "knives or cutting instruments"; "blunt objects (clubs, hammers, etc.)" killed 674; while "personal weapons (hands, fists, feet, etc.)" were the choices in 869 homicides.
The number of rifle homicides has fallen steadily since then to 323 last year, as have the other three weapon classes, though each still remains a more common choice than the rifle.
In fact, when added together, knives, blunt instruments and the human body were responsible for more than nine times as many homicides as rifles in 2011.
Stigmatizing Gun Owners Makes Civil Debate Impossible
Stigmatizing Gun Owners Makes Civil Debate Impossible « Commentary Magazine
Rather, this was about the desire on the part of some in the liberal mainstream media to stigmatize legal gun ownership and to whip up sentiment for not just tighter controls but an eventual ban.
This makes it easier to understand why the National Rifle Association fiercely resists even the most reasonable gun control measures.
If even those who have jumped through the not inconsiderable hoops erected by the authorities to gain a legal gun permit in New York are now to be treated as if they were the moral equivalent of sex offenders, it’s clear the goal of the anti-gun media is not just to focus discussion on assault weapons and large ammunition clips but to ban individual gun ownership altogether.
Rather, this was about the desire on the part of some in the liberal mainstream media to stigmatize legal gun ownership and to whip up sentiment for not just tighter controls but an eventual ban.
This makes it easier to understand why the National Rifle Association fiercely resists even the most reasonable gun control measures.
If even those who have jumped through the not inconsiderable hoops erected by the authorities to gain a legal gun permit in New York are now to be treated as if they were the moral equivalent of sex offenders, it’s clear the goal of the anti-gun media is not just to focus discussion on assault weapons and large ammunition clips but to ban individual gun ownership altogether.
No heir to run the company? Why adult ‘adoption’ is big business in Japan
No heir to run the company? Why adult ‘adoption’ is big business in Japan - Asia - World - The Independent
The practice of adopting men in their 20s and 30s is used to rescue biologically ill-fated families and ensure a business heir,
....... "We haven't come across this custom in any other part of the world," he says.
The practice of adopting men in their 20s and 30s is used to rescue biologically ill-fated families and ensure a business heir,
....... "We haven't come across this custom in any other part of the world," he says.
COMMENT OF THE DAY
Instapundit » Blog Archive » COMMENT OF THE DAY
"For ten years we have been told that the Bush tax cuts applied mostly to the rich.
Now it is imperative that we extend them further or the middle class is going to take a big hit.”
"For ten years we have been told that the Bush tax cuts applied mostly to the rich.
Now it is imperative that we extend them further or the middle class is going to take a big hit.”
Friday, December 28, 2012
101 of the Best Gun Quotes Ever
101 of the Best Gun Quotes Ever
"54.”The right of self-defense never ceases. It is among the most sacred, and alike necessary to nations and to individuals.”
~James Monroe"
"54.”The right of self-defense never ceases. It is among the most sacred, and alike necessary to nations and to individuals.”
~James Monroe"
Senate Approves Warrantless Phone Tapping for Next Five Years
Senate Approves Warrantless Phone Tapping for Next Five Years
"The FISA Amendments Act continues to be controversial; key portions of it were challenged in a case before the U.S. Supreme Court this term.
In brief, the law allows the government to get secret FISA court orders-orders that do not require probable cause like regular warrants-for any emails or phone calls going to and from overseas.
The communications only have to deal with "foreign intelligence information," a broad term that can mean virtually anything.
And one secret FISA order can be issued against groups or categories of people-potentially affecting hundreds of thousands of Americans at once."
"The FISA Amendments Act continues to be controversial; key portions of it were challenged in a case before the U.S. Supreme Court this term.
In brief, the law allows the government to get secret FISA court orders-orders that do not require probable cause like regular warrants-for any emails or phone calls going to and from overseas.
The communications only have to deal with "foreign intelligence information," a broad term that can mean virtually anything.
And one secret FISA order can be issued against groups or categories of people-potentially affecting hundreds of thousands of Americans at once."
Taxpayer-Funded Stadiums a Lose-Lose Proposition
Taxpayer-Funded Stadiums a Lose-Lose Proposition [Michigan Capitol Confidential]
Flashy projects have not helped the city in the past. Remember the Renaissance Center, which was supposed to “anchor Detroit’s revival”?
How about the money taxpayers put up for the stadiums for the Detroit Lions and Detroit Tigers?
State and local citizens are still subsidizing the local teams.
Flashy projects have not helped the city in the past. Remember the Renaissance Center, which was supposed to “anchor Detroit’s revival”?
How about the money taxpayers put up for the stadiums for the Detroit Lions and Detroit Tigers?
State and local citizens are still subsidizing the local teams.
Michigan Makes It Illegal To Ask For Employees' Facebook Logins
Michigan Makes It Illegal To Ask For Employees' Facebook Logins - Slashdot:
""Michigan joins Maryland as a state where employers may not ask employees or job applicants to divulge login information for Facebook and other social media sites.
From the article: 'Under the law, employers cannot discipline employees or decline to hire job applicants because they do not give them access information, including user names, passwords, login information, or "other security information that protects access to a personal internet account," according to the bill.
Universities and schools cannot discipline or fail to admit students if they do not give similar information.'
There is one exception, however: 'However, accounts owned by a company or educational institution, such as e-mail, can be requested.'""
""Michigan joins Maryland as a state where employers may not ask employees or job applicants to divulge login information for Facebook and other social media sites.
From the article: 'Under the law, employers cannot discipline employees or decline to hire job applicants because they do not give them access information, including user names, passwords, login information, or "other security information that protects access to a personal internet account," according to the bill.
Universities and schools cannot discipline or fail to admit students if they do not give similar information.'
There is one exception, however: 'However, accounts owned by a company or educational institution, such as e-mail, can be requested.'""
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