Sunday, January 22, 2012
The Great Minnesota Pension Scam
Instapundit » Blog Archive » WALTER RUSSELL MEAD: The Great Minnesota Pension Scam.
“If you are a current or former state employee in the state of Minnesota, watch out.
Your pension depends on hot air, sketchy arithmetic, and the willingness of future taxpayers to make huge sacrifices to cover the deceit, wishful thinking and sketchy math at the heart of your pension system.”
Of course, this problem isn’t limited to Minnesota.
It’s endemic.
Plus this advice:
“Under modern conditions, for younger workers especially plans where you make contributions matched by your employer are safer bets than defined benefit plans. In defined contribution plans, they can’t touch your money to pay pensions for older workers; in other plans they can suck you dry to keep the better connected and better organized geezers happy.
Your union reps and state legislators won’t tell you about this, but it’s true: badly funded defined benefit programs will be looted to pay the oldsters in full as long as possible, and younger workers will be stiffed when the bill finally comes due.”
Posted by Glenn Reynolds at 10:00 am
“If you are a current or former state employee in the state of Minnesota, watch out.
Your pension depends on hot air, sketchy arithmetic, and the willingness of future taxpayers to make huge sacrifices to cover the deceit, wishful thinking and sketchy math at the heart of your pension system.”
Of course, this problem isn’t limited to Minnesota.
It’s endemic.
Plus this advice:
“Under modern conditions, for younger workers especially plans where you make contributions matched by your employer are safer bets than defined benefit plans. In defined contribution plans, they can’t touch your money to pay pensions for older workers; in other plans they can suck you dry to keep the better connected and better organized geezers happy.
Your union reps and state legislators won’t tell you about this, but it’s true: badly funded defined benefit programs will be looted to pay the oldsters in full as long as possible, and younger workers will be stiffed when the bill finally comes due.”
Posted by Glenn Reynolds at 10:00 am
Saturday, January 21, 2012
MAC Legislative Update - January 20, 2012
MAC Legislative Update - January 20, 2012
Lt. Governor Calley Pushes for Autism Coverage
Lt. Governor Brian Calley (R-Ionia County) indicated that mandatory autism insurance coverage, as promoted by Governor Snyder in his State of the State, could be paid for by offering a tax credit against the new Claims Tax on paid insurance claims.
The tax, after matching federal money, is supposed to provide about $1 billion to fund Medicaid in Michigan.
There is no detail on how much money might be lost to the Medicaid budget to pay for autism insurance coverage.
Lt. Governor Calley Pushes for Autism Coverage
Lt. Governor Brian Calley (R-Ionia County) indicated that mandatory autism insurance coverage, as promoted by Governor Snyder in his State of the State, could be paid for by offering a tax credit against the new Claims Tax on paid insurance claims.
The tax, after matching federal money, is supposed to provide about $1 billion to fund Medicaid in Michigan.
There is no detail on how much money might be lost to the Medicaid budget to pay for autism insurance coverage.
America hates Newt Gingrich
America hates Newt Gingrich Campaign 2012 Washington Examiner
Unlike Mitt Romney, who occasionally beats President Obama in general election poll match ups, Newt Gingrich trails far behind President Obama in every survey.
But just how bad are Gingrich's unfavorable among the general public compared to Obama and Romney?
Unlike Mitt Romney, who occasionally beats President Obama in general election poll match ups, Newt Gingrich trails far behind President Obama in every survey.
But just how bad are Gingrich's unfavorable among the general public compared to Obama and Romney?
A trillion-dollar missed opportunity – enough to pay U.S. deficit
A trillion-dollar missed opportunity – enough to pay U.S. deficit ExxonMobil's Perspectives Blog
According to a study by ICF International, expanding domestic energy development in America’s offshore areas could alone generate $1.3 trillion in government revenues over the life of the resource – along with major increases in jobs and economic activity that result from offshore development.
To put this figure in perspective, consider the following numbers:
In 2010, the U.S. federal budget deficit was $1.3 trillion.
The total U.S. national debt currently stands at about $13.8 trillion.
The U.S. oil and natural gas industry contributes more than $1 trillion a year to the U.S. economy.
According to a study by ICF International, expanding domestic energy development in America’s offshore areas could alone generate $1.3 trillion in government revenues over the life of the resource – along with major increases in jobs and economic activity that result from offshore development.
To put this figure in perspective, consider the following numbers:
In 2010, the U.S. federal budget deficit was $1.3 trillion.
The total U.S. national debt currently stands at about $13.8 trillion.
The U.S. oil and natural gas industry contributes more than $1 trillion a year to the U.S. economy.
'Speed freak killer' Loren Herzog found hanged
'Speed freak killer' Loren Herzog found hanged
Herzog was convicted in 2001 of the methamphetamine-fueled rape and murder of Vanderheiden and the killings of two other people in the mid-1980s.
His trial and the case against a co-defendant, childhood friend Wesley Shermantine, were moved to Santa Clara County from San Joaquin County because of extensive pretrial publicity over what were dubbed the "speed freak killers."
Herzog was sentenced to 78 years to life, but an appeals court threw out his conviction in 2004, saying investigators had illegally forced a confession from him.
Herzog was convicted in 2001 of the methamphetamine-fueled rape and murder of Vanderheiden and the killings of two other people in the mid-1980s.
His trial and the case against a co-defendant, childhood friend Wesley Shermantine, were moved to Santa Clara County from San Joaquin County because of extensive pretrial publicity over what were dubbed the "speed freak killers."
Herzog was sentenced to 78 years to life, but an appeals court threw out his conviction in 2004, saying investigators had illegally forced a confession from him.
Girl, 9, who faced online taunts in 2010, dies
Girl, 9, who faced online taunts in 2010, dies
A 9-year-old Detroit-area girl whose battle with Huntington's disease drew attention after she was taunted online by a neighbor has died.
A 9-year-old Detroit-area girl whose battle with Huntington's disease drew attention after she was taunted online by a neighbor has died.
Egypt's Islamists secure 75 percent of parliament
Egypt's Islamists secure 75 percent of parliament
Egypt's election commission and political groups say final results from the country's first elections since the ouster of Hosni Mubarak show Islamist parties winning nearly three-quarters of the seats in parliament.
Egypt's election commission and political groups say final results from the country's first elections since the ouster of Hosni Mubarak show Islamist parties winning nearly three-quarters of the seats in parliament.
A Sharper Mind, Middle Age and Beyond
A Sharper Mind, Middle Age and Beyond - NYTimes.com
The “effective, moving, vitalizing work of the world is done between the ages of 25 and 40 — these 15 golden years of plenty.”
In comparison, he noted, “men above 40 years of age” are useless.
As for those over 60, there would be an “incalculable benefit” in “commercial, political and professional life, if, as a matter of course, men stopped work at this age.”
The “effective, moving, vitalizing work of the world is done between the ages of 25 and 40 — these 15 golden years of plenty.”
In comparison, he noted, “men above 40 years of age” are useless.
As for those over 60, there would be an “incalculable benefit” in “commercial, political and professional life, if, as a matter of course, men stopped work at this age.”
Friday, January 20, 2012
Muskegon County Jail replacement ranked top priority by county leadership
Muskegon County Jail replacement ranked top priority by county leadership MLive.com
“For nine years, the issues of the juvenile center and jail, they are always near the top of the list,” Derezinski said.
“When the heck are we going to get it off the list?”
“For nine years, the issues of the juvenile center and jail, they are always near the top of the list,” Derezinski said.
“When the heck are we going to get it off the list?”
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