Pennsylvania bill would provide scholarships to children of incarcerated parents - The College Fix

Pennsylvania bill would provide scholarships to children of incarcerated parents - The College Fix: "In late June, a bipartisan group of Pennsylvania state senators proposed a bill which would “establish a public charitable trust” to assist children who have a parent (or parents) in the prison system.
The “First Chance Trust Fund” would provide scholarships to these children which, according to Penn Live, does not utilize taxpayer monies.
Instead, lawmakers say, First Chance would be funded by “private, tax-deductible donations” and a “1 percent surcharge on vendors that have a contract with the Department of Corrections exceeding $5 million.”
...But would taxpayers really be unaffected by this program?
On WPHT radio’s Dom Giordano program on Friday, Pennsylvania State Representative Steve Barrar said that one percent surcharge indeed will affect taxpayers:
“At the end of the day, the contractors, all they’re going to do if you’re going to hit them with a one percent surcharge, is increase their price to absorb that one percent surcharge knowing it’s coming.
So at the end of the day, the taxpayers pay.”
...perhaps more importantly — where’s the “surcharge” scholarship funds available for the children of slain law enforcement officials?..."

#1 Movie this week 1962-----The Music Man Official Trailer (1962)

What Ponzi Scheme? Public Pensions Average 0.6% Return In 2016 Despite 7.6% Assumption | Zero Hedge

What Ponzi Scheme? Public Pensions Average 0.6% Return In 2016 Despite 7.6% Assumption | Zero Hedge:
"We've frequently argued that public pension funds in the U.S. are nothing more than...

• thinly-veiled ponzi schemes 
• with their ridiculously high return assumptions 
• specifically intended to artificially minimize the present value of future retiree payment obligations and minimize required annual contributions 
• thus also from taxpayers...
• all while actual, if immediately intangible, underfunded liabilities continue to surge. 

As evidence of that assertion, we present to you the latest public pension analysis from the Center for Retirement Research at Boston College.  

As part of their study, Boston College reviewed 170 public pension plans in the U.S. and found that their average 2016 return was an abysmal 0.6% compared to an average assumed return of 7.6%.

Meanwhile, per the chart below, the average return for the past 15 years has also been well below discount rate assumptions, at just 5.95%.

All of which, as we stated above, continues to result in surging liabilities and collapsing funding ratios.

...But, perhaps the most telling sign of the massive ponzi scheme being perpetrated on American retirees is the following chart which shows that net cash flows have become increasingly negative, as a percentage of assets, as annual cash benefit payments continue to exceed cash contributions.

Conclusion, you can hide behind high discount rates and a "kick the can down the road" strategy in the short-term...but in the long run actual cash flows matter.

Read the full report here:"

#1 This week 1967-----The Doors - Light My Fire

10 of 11 California Counties With More Registered Voters than Voting Age Adults Are Democrat:

10 of 11 California Counties With More Registered Voters than Voting Age Adults Are Democrat

"There are eleven counties in California with more registered voters than voting age adultes in the county.

Ten of the Eleven counties voted for Hillary Clinton.

The counties include San Francisco, Los Angeles and San Diego.

Judicial Watch lays out the specifics: “[T]here were more total registered voters than there were adults over the age of 18 living in each of the following eleven (11) counties: Imperial (102%), Lassen (102%), Los Angeles (112%), Monterey (104%), San Diego (138%), San Francisco (114%), San Mateo (111%), Santa Cruz (109%), Solano (111%), Stanislaus (102%), and Yolo (110%).” The letter notes that the percentage in L.A. Country may be as high as 144%.

In June California Secretary of State Alex Padilla told the Trump administration the state will not cooperate with the election integrity commission because it would “only serve to legitimize the false and already debunked claims of massive voter fraud.”

You ought to know!

Breaking: Trump Insider Defects, Delivers Outrageous Info to Susan Rice

Breaking: Trump Insider Defects, Delivers Outrageous Info to Susan Rice:

"An undated, unclassified letter McMaster sent to Rice gave her “unfettered and continuing access to classified information and waiving her ‘need-to-know’ requirement on anything she viewed or received during her tenure,” according to a report from Circa.

According to a report from Bloomberg, McMaster apparently concluded that Rice did nothing wrong when she tried to unmask the identities of officials on Trump’s transition team whose names were mentioned in U.S. intelligence reports during the election."

Classic fake-news!-----TIME MAGAZINE SLIMES KOCH IN HEADLINE

Instapundit » Blog Archive » TIME MAGAZINE SLIMES KOCH IN HEADLINE: Time Magazine covered a Charles Koch speech with the headline…:
"TIME MAGAZINE SLIMES KOCH IN HEADLINE: Time Magazine covered a Charles Koch speech with the headline “Charles Koch says U.S. Can Bomb Its Way to $100,000 Salaries.” 
Except what he actually said was:

“I think we can have growth rates in excess of 4%. When I’m talking about growth rates, I’m not talking about that GDP, which counts poison gas the same as it counts penicillin,” the 79-year-old industrialist said, veering off his prepared remarks. “What a monstrous measure this is. If we make more bombs, the GDP goes up — particularly if we explode them.”

Time later changed the headline to say “Charles Koch Mocks Common Measure of Prosperity.” 

Reason points out that the URL still has the telling phrase “charles-koch-bomb-economy/” and goes on to take apart the reporters’ woefully inadequate understanding of basic economics.  
This is a classic case of a form of libel (privacy, actually) called “false light”, generally wherein untrue implications, rather than directly false statements are made. 
For instance, an article about sex offenders illustrated with a stock photograph of an individual who is not, in fact, a sex offender could give rise to a false light claim, even if the article and photo caption never make the explicit false statement.

If legacy media had spent the last 10 years practicing responsible journalism and less time being party apparatchiks, they might not be in the trouble they’re in."

AM Fruitcake

History for August 7

History for August 7 - On-This-Day.com
Nathaniel Greene 1742, Mata Hari 1876, Carl "Alfalfa" Switzer 1927
  

Garrison Keillor 1942, David Duchovny 1960, Charlize Theron 1975 - Actress


1782 - George Washington created the Order of the Purple Heart.


1888 - Theophilus Van Kannel received a patent for the revolving door.


1934 - The U.S. Court of Appeals upheld a lower court ruling striking down the government's attempt to ban the controversial James Joyce novel "Ulysses."


1942 - U.S. forces landed at Guadalcanal, marking the start of the first major allied offensive in the Pacific during World War II.


1959 - The U.S. launched Explorer 6, which sent back a picture of the Earth.


1960 - The Cuban Catholic Church condemned the rise of communism in Cuba. Fidel Castro then banned all religious TV and radio broadcasts.


1964 - The U.S. Congress passed the Gulf of Tonkin resolution, which gave President Johnson broad powers in dealing with reported North Vietnamese attacks on U.S. forces.


1974 - French stuntman Philippe Petit walked a tightrope strung between the twin towers of New York's World Trade Center.

FOIA Dump Reveals Collusion Between Lynch, FBI And Media To Bury Bill Clinton Meeting | Zero Hedge

FOIA Dump Reveals Collusion Between Lynch, FBI And Media To Bury Bill Clinton Meeting | Zero Hedge:

"That said, documents released today by the ACLJ reveal several emails between FBI and DOJ officials concerning the Lynch/Clinton meeting primarily related to how they should go about explaining the train wreck that had just been unwittingly played out on live television courtesy of a local Phoenix affiliate station.  Here is a recap from ACLJ:"

The way we were-----Do You Believe In Magic - The Lovin' Spoonful

Why Professional Cuddling Is Booming Under Trump - Rolling Stone

Why Professional Cuddling Is Booming Under Trump - Rolling Stone:
"...The reasons one seeks out a professional cuddling experience range from average adults seeking connection...
The elephant in the room during some of these sessions, though, is the current state of the country's affairs.
Since November – and the election of Donald Trump – professional cuddling services have seen a spike in client interest.
"The holiday season was the first time that since Trump won the election that a lot of people were seeing their family," says Adam Lippin, co-founder and CEO of Cuddlist, which provides training services to professional cuddlers and allows clients to search listings of "Cuddlists" nearby.
"People with different political views were going to be in the same place with relatives.
That was the first hit of people having to confront it in a significant way.
We saw an uptick around that."
But what makes the organized effort of being held, a service that comes with a cost (Cuddlist sessions go for $80 an hour), something that aids in relieving the fear and discomfort that has come with Trump's presidency?..."

Percentage of Europeans Who Are Willing To Fight A War For Their Country - Brilliant Maps

Percentage of Europeans Who Are Willing To Fight A War For Their Country - Brilliant Maps:
From high to low, these are the percentages by country:

• 74% – Finland
• 73% – Turkey
• 62% – Ukraine
• 59% – Russia
• 58% – Kosovo
• 55% – Bosnia and Herzegovina
• 55% – Sweden
• 54% – Greece
• 47% – Poland

Read on!

Report: Despite Activism, Al Gore Consumes 21 Times More Electricity Than Average Household

Report: Despite Activism, Al Gore Consumes 21 Times More Electricity Than Average Household:

"While Gore has continually advocated for Americans to adopt greener and more environmentally friendly habits, energy consumption records suggest that he does not live according to his activist principles.

According to a report by the National Center for Public Policy Research, Gore burned through enough energy at his Nashville home over the past year to power the average American household for 21 years.

Gore used 230,889 kilowatt hours (kWh) in the last 12 months to power his driveway entry gate, pool and home."

New Product: Transgendered Briefs for 'Men Who Have Periods' - Citizens for Self-Governance

New Product: Transgendered Briefs for 'Men Who Have Periods' - Citizens for Self-Governance
"This is going to be complicated, so let me explain this very very carefully.  
Some women believe they are men, so they call themselves “transgendered.”  
But no amount of male clothing, hormones, or surgery actually can turn a woman into a man.  
So all of these “men” are walking around in boxers, which is complicated for them when they actually have their periods… because they’re girls.
Got that?  
Now, there’s a new thing called “menstruation activists” who are women-pretending-to-be-men who are talking about how men have periods too.  
(Don’t believe me?  This photo of a “man” having a period actually went viral.  Yuck.)
And so, a new company is fixing a problem you didn’t know existed. 
Apparently, Pyramid Seven has created underwear so that women who call themselves men can have their periods without inconvenience..."
Read on!

THE COMING CRASH OF THE GOVERNMENT DEBT BUBBLE: “It’s going to be a hell of a crash. And the thi…

Instapundit » Blog Archive » THE COMING CRASH OF THE GOVERNMENT DEBT BUBBLE: “It’s going to be a hell of a crash…:
"THE COMING CRASH OF THE GOVERNMENT DEBT BUBBLE: 
“It’s going to be a hell of a crash. 
And the thing is, most of the occupants of the bus are acting like there is nothing wrong.”

Well, that was pretty much how they acted before the last crash, which was a government-induced debt bubble." Posted at 7:01 am by Ed Driscoll 

Lunch video-----Democratic Socialism is Still Socialism

Noon-toon

Military Thanks Trump for Transgender Ban: ‘Courageous Decision’

Military Thanks Trump for Transgender Ban: ‘Courageous Decision’:

"Seventeen “flag-rank” officers who wrote to former President Obama expressing their concerns on his decision to allow transgender individuals to serve in the U.S. military have now sent a letter of thanks to President Donald Trump for his decision to reverse the policy.
“We write today to express our gratitude to you for making the extremely courageous decision to reverse President Obama’s transgender social experiment,” the letter, sent last week, said."

First they came for your pets-----Scientists tally the environmental impact of feeding meat to our cats and dogs. It’s huge - LA Times

Scientists tally the environmental impact of feeding meat to our cats and dogs. It’s huge - LA Times:
"You’ve heard about the carbon footprint, but what about the carbon paw-print? 
According to a new study, U.S. cats’ and dogs’ eating patterns have as big an effect as driving 13.6 million cars for a year.
The findings, published in the journal PLOS ONE, reveals how our furry, four-legged companions’ consumption of meat and other animal products adds a sizable, and largely overlooked, climate cost.
When it comes to environmental effects, meat-eating takes the cake. 
...The same amount of beef, however, can be responsible for up to 1,000 kilograms of CO2 — a worrisome figure given that this greenhouse gas is largely responsible for the significant warming of the Earth’s climate. 
That’s not even counting the livestock’s water usage footprint, which dwarfs that of agricultural crops. ...
Notably, dogs and cats actually consumed about 33% of the animal-derived calories that humans did, perhaps because their diets are generally more meat-heavy than ours, Orkin said. 
On the other end, they also produce about 30% of the feces that humans do (and much of that gets thrown in the trash in plastic bags, instead of treated the way that human waste is).
In short, Orkin concluded, American dogs and cats eat enough animal product to account for about 64 million tons of methane and nitrous oxide, two other powerful greenhouse gases. 
That’s about the same impact on our warming climate as driving 13.6 million cars for a year..."

5 Cities That Got F**ked By the Olympics - Hit & Run : Reason.com

5 Cities That Got F**ked By the Olympics - Hit & Run : Reason.com: 
"...#5
"Montreal 1976
The mayor of Montreal insisted their games would be self-financed. "The Montreal Olympics can no more have a deficit, than a man can have a baby," Jean Drapeau said at the time.
It took Quebec taxpayers 30 years to pay off the $1.5 billion debt for the "Big Owe," as the the olympic stadium built in Montreal was derisively called. 
The debt was paid off mostly with a special tax on tobacco. 
Quebec then managed a province-wide ban on smoking in public spaces and workplaces just a few months before the debt was paid.
...As Vice noted last year, the Montreal games should have been a lesson for other cities interested in the Olympics. 
Not likely. Paris and Los Angeles won't be the last suckers to go for the fool's gold."

#1 This day 1945-----Johnny Mercer, The Pied Pipers - On the Atchison, Topeka & Santa Fe

NRA's Dana Loesch To The New York Times: "We've Had It With Your 'Fake News', We're Coming For You" | Zero Hedge

NRA's Dana Loesch To The New York Times: "We've Had It With Your 'Fake News', We're Coming For You" | Zero Hedge:
"Conservative political pundit and National Rifle Association spokeswoman Dana Loesch took on The New York Times in an epic new video posted by the NRA in which she vows to "fisk the New York Times" just before concluding "in short, we're coming for you."

"We the people have had it.  We've had it with your narratives, your propaganda, your 'fake news'."

 "We've had it with your constant protection of your democrat overlords.  Your refusal to acknowledge any truth that upsets the fragile construct that you believe is real life." 

"And we've had it with your pretentious, tone-deaf assertion that you
are in any way truth or fact-based journalism." 

"Consider this a shot across your proverbial bow." 

"We're going to fisk the New York Times and find out just what deep rich means to this old grey hag, this untrustworthy, dishonest drag that has subsisted on the welfare of mediocrity for one, two, three, more decades?" 

"We're going to laser-focus on your so-called 'honest pursuit of truth.' In short, we're coming for you." 

While it's nearly impossible to know which 'fake news' story from the New York Times (there are just so many) may have pushed Dana over the edge, it was dropped right around the same time that the American Center for Law and Justice (ACLJ) dumped new DOJ emails that seemed to reveal several mainstream media outlets, including the New York Times, colluding with the Loretta Lynch DOJ and James Comey FBI to kill any reporting about Lynch's now-infamous meeting with Bill Clinton on that Phoenix tarmac back in June 2016.

As we noted yesterday, the following email came from Mark Landler of the New York Times who almost apologized for even inquiring about the Lynch/Clinton meeting saying that he had been "pressed into service" to write about the topic.

But it's probably nothing, we're sure the New York Times applies the same standards of leniency when writing about the Trump administration."

You ought to know!

The Scandal That Matters - WSJ

The Scandal That Matters - WSJ:

"The media largely has ignored the affair, the ho-hum coverage summed up by a New York Times piece suggesting it may be nothing more than an “overblown Washington story, typical of midsummer.” But even without evidence of espionage or blackmail, this ought to be an enormous scandal.

Because based on what we already know, the Awan story is—at the very least—a tale of massive government incompetence that seemingly allowed a family of accused swindlers to bilk federal taxpayers out of millions and even put national secrets at risk. In a more accountable world, House Democrats would be forced to step down."

State Licensure Mandate Ensnarls Another Hair Braider [Michigan Capitol Confidential]

State Licensure Mandate Ensnarls Another Hair Braider [Michigan Capitol Confidential]:
"The state of Michigan issued a cease-and-desist order to a hair braider in a Kalamazoo salon last year for washing a customer’s hair without a license.
A state investigator discovered an unlicensed hair braider had rinsed out the hair of a customer who had arrived with her hair already shampooed.
Michigan law requires establishments that provide various haircare services such as hair cleansing to have a state-issued cosmetology license.
To obtain a license, students must pay an institution for 1,500 hours of training (in the case of one Kalamazoo-area beauty school, $13,800) and then complete a state exam.
Hair braiding licenses are optional but getting a cosmetology license to legally shampoo hair for pay requires 25 times as much mandated training as a residential builder, who builds homes for a living.
Kimberly Buddin-Crawford, policy counsel with the ACLU of Michigan, said this state has more occupational licenses than almost any other state..."
Read on!

AM Fruitcake