This is what happens when you elect someone to the highest job in the land who has no real political experience, no real world experience, who has never created a job or run a business. The only business Obama has ever been interested in is Obama, Inc.
First Judd Gregg, his latest Commerce nominee, withdrew because of the sour taste left by the stimulus and his principled opposition to Obama’s audacious plan to move the 2010 census from the Commerce Dept. to the control of the White House. Can you imagine if Bush tried to politicize the census? Just imagine the howls from the fourth estate! When Obama does it, virtual silence.
Onto the push to pass the stimulus. For the past two days, Obama has toured the country making this claim about his magic stimulus bill,
“..if Congress passes our plan, this company (Caterpillar) will be able to rehire some of the folks who were just laid off.”
Well, not so much apparently,
when asked today if the stimulus could do that, (Caterpillar CEO) Owens said, “I think, realistically, no. The honest reality is we’re probably going to have more layoffs before we start hiring again.”
My wife, who is not political at all (lucky her, huh?) was watching local TV News down in south Florida early this morning and on the scrawl across the bottom it says “Crist wants stimulus plan to move forward”.
She turns and asks “Are they referring to Obama as Christ now?”
I said, “No honey, it just feels that way.”
Of course, they were referring to the Florida Gov. Charlie Crist.
Polio in the 1940-1950s and pensions in the new millenium. Devastating, crippling and unnecessary.
Any talk of what ails us as a city, state and country is a diversion unless it squarely addresses the pension issue. Public employees should have a 401K plan like the rest of us, period. This situation has not been created by the financial crisis. Its been with us for a while. The stock market losses have only moved up the implosion date. We can no longer afford as a society to dish out lifetime healthcare and retirement benefits for government workers. Period.
A pension war is brewing — and it’s likely to pit state and municipal employees against citizens who foot the bill for government pension plans with their state tax dollars.
While employees of most companies have watched their 40l(k) plans — and their retirement hopes — shrivel in the bear market, public employees have been smiling.
The Pundit Review proposal, cap and kill state and local pensions. If you were fortunate enough to get to the trough, you’re in and you win. Any worker hired at local or state level from this day forward should get a 401K plan, like the rest of us in the DPS, dreaded private sector.
At the local level, the mighty Hub Blog says the corruption, “almost leaves you speechless”. Almost indeed. Read on.
Globe: Retirement gravy train
MASSACHUSETTS needs a vigorous debate about the fairness and sustainability of the state pension system for public-sector workers, who do not receive Social Security benefits. But first, state lawmakers need to to put the brakes on the gravy train.
The current system is riddled with pernicious perks – especially ones favoring elected officials – that undermine the credibility of a system serving about 180,000 active state employees, including teachers, and 105,000 retirees at an annual cost of $1.7 billion. And that doesn’t include the roughly 215,000 municipal employees and retirees spread across about 100 local retirement boards.
Howie Carr provides a real world example of how we are being ripped off by the political class,
Don’t tell Mark Sylvia, the newest hack on the state payroll, about any recessions or budget cutbacks. Sylvia began his newly created state job yesterday, as director of the new Green Communities Division at the Department of Energy Resources (DOER).
His pay for this awfully essential position: $117,000 a year.
But wait, there’s more. Until last week Mark Sylvia was the town manager of Plymouth, and as he slipped out the back door at town hall, he was the beneficiary of a platinum parachute.
Sylvia skipped town with $101,214 in public funds. First there was what the local paper described as 702.75 hours of “unused sick time†– worth $49,036. Then there was the “unused vacation time,†280 hours worth $20,778. And finally, his three months of severance pay – $31,400.
Things are no better at the local level,
Pension funding new woe for city
WORCESTER — Already reeling from a 10 percent midyear cut in local aid from the state and the prospect of another significant aid reduction next fiscal year, local officials are bracing for yet more bad news regarding the city’s finances: An additional $7 million may be needed to fund the retirement system.
This is not just a Massachusetts problem. Ultimately, we will all be paying for this mess through higer taxes and less services.
These headlines below cover just the past week, and I cut out about half listed. Calling this a national emergency at the core of our fiscal crisis is appropriate.
This ticking timebomb is now exploding all around us. We need to kill the city and state pension system immedately.
Skyrocketing Public Employee Pension Costs Top Board of Supervisors’ Agenda in Santa Barbara County, California
Santa Rosa, California City Council Declares ‘Fiscal Crisis’
Modesto, California in Talks With Employee Unions About Need to Reduce Budget by $10 Million More
Vallejo, California’s Attorney Argues for Cuts in Employee Pay, Benefits as Testimony Ends in Bankruptcy Case
Maryland’s Counties ‘Devour’ 40% of the State Budget on Pensions, Says Senate President
Tennessee’s Public Employee Pension System Lost $5 Billion in Past Six Months
New Mexico’s Public Pension Funds May Require Increased Contributions After $5 Billion in Losses
Detroit’s Risky Pension Fund Fliers Must End (editorial – Free Press)
Washington State’s Taxpayers Owe $5.9 Billion — and More — to Oldest Public Employee Pension Plans
Massachusetts’ Public Employee Pension System Has to Be Brought Back to Earth (editorial – Boston Globe)
Retired, Rehired: Many Connecticut Public Employees Collect Both Pensions and Paychecks
Tax Increase Would Fund Pensions for West Virginia’s Volunteer Firefighters
Pension Shortfalls Put Pressure on Strained University Budgets
California’s Public Employee Pension Costs May ‘Skyrocket’
CalPERS to Seek Improved Corporate Governance, Stricter Wall Street Rules
72% of New York City Firefighters Who Retired Since 2004 Are Collecting Disability Pensions
Detroit, Michigan’s Public Employee Pensions Have Lost More Than $2 Billion, May Face Liquidity Crisis
Pension Funds Hit Hard Across the US (graph – Detroit Free Press)
Bill Would Remove Nevada Legislators From Public Employees’ Health Plan (editorial – Salt Lake Tribune)
Troubled Auto Parts Maker Delphi Seeks to End Health Benefits for Retirees
February 8, 2009
Public Pension Troubles Loom for State and Local Governments (column – Steve Bartin)
Taxpayer Group in Orange County, California Asks Board of Supervisors to Adopt a ‘Tier 3′ Benefits Plan for Employees (blog)
Dozens of California State Senate Staffers Get Little-Known Pay Sweetener
1,430 Boston Police Officers Made Over $100,000 in 2008
No Pension Cola This Year for South Carolina’s Retired Public Employees
California Can Handle Furloughed State Workers and More (editorial – Union-Tribune)
The Year of Pension Meltdowns? (blog – New York Times)
Escondido, California Will Explore Cutting Public Employee Pension Benefits
University of California Employees Must Pay Into Pension Plans Again
CalPERS Toppled as Nation’s Largest Pension Fund
Michigan Governor Proposes Lump-Sum Payment, Not Pension Boost to Encourage Teacher Retirements
New Hampshire Considering More Retirement System Changes
New Jersey Governor Hopes to Revive Proposal to Reduce Towns’ Pension Payments
New York City’s Proposed Budget Under-Funds Its Costly Pension Benefits (blog – Larry Littlefield)
New York State Employee Says He Gets $93,803 for No Work
Ford May Need to Put $4 Billion Into Pension Fund, Spurring Aid Bid
Mcclatchy Freezes Pensions, Announces Plans for Cutbacks
Cincinnati Bell Announces Pension, Salary Freeze
On California’s Public Employees and Shared Sacrifice in the Golden State (column – Jon Coupal)
Bankrupt Vallejo’s Sick Costs (blog – Ed Mendel)
Businessweek Interview With the New Leadership at CalPERS
Two San Jose, California Pension Trustees Resign
Illinois’ State Budget Almost Twice as Bad as Thought; Pension Underfunding a Major Factor (newsblog)
Blagojevich’s $60 Billion Pension Bomb (blog – Don Surber)
Washingon State Resident Wonders Why No Public Employees Are Being Laid Off (letter)
Massachusetts’ Ex-Senate President Getting $197,000 Pension (column – Howie Carr)
The Next Bomb to Hit Will Be the Pension Bomb (newsletter excerpt)
A Pension War Is Brewing Between Public Employees and the Taxpayers Who Foot the Bill (column – Terry Savage)
Time for California’s Public Employees to Feel the Pain, Too (column – Daniel Borenstein)
Underpaid? Nearly 12% of San Diego’s Public Employees Top $100,000 (editorial – Union-Tribune)
US Government Conceals How Huge Is the Coming Tsunami of Entitlements (column – George Will)
Sacramento, California’s Public Employee Unions Reject Pleas to Help City With Deficit (editorial – Sacramento Bee)
Historic Tiny California Town of Isleton Has King-Size Financial Problems
The Ponzi Scheme Within the San Francisco Police Department’s 457 Plan (blog)
Vallejo, California Talks With Employee Unions Despite Bankruptcy Court Activity
Springfield, Missouri Voters Reject Sales Tax Increase to Bolster Police-Fire Pension Fund
New York Pension Fund Contribution Rates May Have to Be Increased, Says State Comptroller
Fayette County, Georgia May Not Switch to Defined Benefit Plan for Employees
Bill Would Freeze Virginia’s Defined Benefit Plan, Start New New Defined Contribution Plan
When Army Staff Sergeant Eric Maddox arrived in Iraq he had never interrogated a prisoner. Five months later he left with the DIA Director’s Award, the Legion of Merit, the Bronze Star, and the National Intelligence Medal of Achievement for his key role in the capture of Saddam Hussein. Not only did he do that, his work identified the insurgency funding and leadership network, which had been previously unknown to the US military. He did this by focusing on the social and family networks of captured prisoners.
Mission: Black List #1: The Inside Story of the Search for Saddam Hussein—As Told by the Soldier Who Masterminded His Capture
After months of chasing down leads, following hunches, and interrogating literally hundreds of detainees, Sergeant Maddox uncovered crucial details about the insurgency. In his final days in Iraq, he closed in on the dictator’s inner circle and, within hours of his departure from the country, pinpointed the precise location of Saddam’s Tikrit spider hole. Maddox’s candid and compelling narrative reveals the logic behind the unique interrogation process he developed and provides an insider’s look at his psychologically subtle, nonviolent methods. The result is a gripping, moment-by-moment account of the historic mission that brought down Black List #1.
Just incredible what he did and how he did it. This is a great book and it was an honor to be able to speak to SSG Maddox.
What is Pundit Review Radio?
Pundit Review Radio is where the old media meets the new. Each week we give voice to the work of the most influential leaders in the new media/citizen journalist revolution. Called “groundbreaking†by Talkers Magazine, this unique show brings the best of the blogs to your radio every Sunday evening from 8-10 pm EST on AM680 WRKO, Boston’s Talk Station.
The stimulus was at the top of everyone’s mind tonight. My position, as a taxpayer I’m feeling insulted. The stimulus bill cannot be both the only thing standing between America and a Great Depression AND a pork laden orgy of liberal interest group payback spending.
I feel like the permanent political class has largely created this mess and now they claim to have the answers. The way they are porking up this bill with non-stimulus waste is indefedsible. The way they are acting is literally obscene. It’s not the size of the bill that bothers me. I’d settle for a smart, responsible stimulating $840 billion instead of the mess we have now. I think we need something that size.
The CBO, who has an awesome blog by the way, estimates,
…that the shortfall in the nation’s output relative to potential levels will be the largest– in duration and depth– since the Depression of the 1930s.
Mark Zandi, chief economist at Moodyseconomy.com, says Obama “will need to ask for another $350 billion down the road.”
Obama has shown a real lack of leadership. He has turned over this great opportunity to lead to Pelosi and Reid and they did as you’d expect. Feedbag time. This is a blunder that he is scrambling to recover from. He has scheduled a national TV address Monday night. It might be a little too late,
US News: Once Saturday Night Live gets involved, it’s over. Everyone’s laughing.
Here’s the 8pm hour,
Bruce McQuain from QandO joined the conversation
What is Pundit Review Radio?
Pundit Review Radio is where the old media meets the new. Each week we give voice to the work of the most influential leaders in the new media/citizen journalist revolution. Called “groundbreaking†by Talkers Magazine, this unique show brings the best of the blogs to your radio every Sunday evening from 8-10 pm EST on AM680 WRKO, Boston’s Talk Station.
Bruce McQuain from QandO joined us once again for Someone You Should Know, our weekly tribute to the troops. Bruce is a veteran of the Vietnam war and spent 28 years in the U.S. Army. He brings a perspective and understanding to these stories that we could never match.
Tonight Bruce told us about SSG Brent R. Baldwin,
“When you hear these stories, ask yourself what would have happened if they had not done what they did,†said Lt. Gen. Robert Wagner, the commander of Army Special Operations Command, before pinning the medals on the two men.
“People of lesser character would have stepped back, but they instinctively moved forward,†he told the audience gathered in an airplane hangar.
The Silver Star is the nation’s third-highest award for valor.
The Someone You Should Know radio collaboration began as an extension of Matt Burden's series at Blackfive. Bruce McQuain from QandO does an incredible job with the series every week.
What is Pundit Review Radio?
Pundit Review Radio is where the old media meets the new. Each week we give voice to the work of the most influential leaders in the new media/citizen journalist revolution. Called “groundbreaking” by Talkers Magazine, this unique show brings the best of the blogs to your radio every Sunday evening from 8-10 pm EST on AM680 WRKO, Boston’s Talk Station.
Seven year old David has just had an extra tooth removed at the dentist. Hilarity ensues.
My favorite line…Is this real life? Priceless.
At least he’s enjoying the ride!