Tuesday, March 22, 2011
Senator Can’t Stop Tide … or Poor Bond Ratings
Senator Can’t Stop Tide … or Poor Bond Ratings [Michigan Capitol Confidential]
"Michigan Sen. John Gleason tried to save the credit ratings of cities that are taken over by an emergency financial manager.
Earlier this month, he introduced an amendment that states they “will not have its bond rating downrated.”
The problem?
That’s not the government’s call, said Jack McHugh, legislative analyst for the Mackinac Center for Public Policy.
“Municipal bonds’ credit worthiness ratings are provided by independent private agencies over which a state legislature has absolutely no control,” McHugh wrote in an e-mail.
Gleason, D-Flushing, didn’t return a call seeking comment.
His amendment of March 9 to House Bill 4214 failed by a vote of 26-12.
'This appears to be an example of legislative 'magic thinking,' comparable to the king ordering the tides not to rise,” McHugh wrote in an e-mail.
“In this case, the miracle would be for potential lenders looking to put their precious capital at risk — and their agents at independent credit rating agencies — to ignore the messes created by fiscally reckless local government officials now wanting to borrow even more.
There's no magic required if local officials want to protect their credit rating; all they have to do hold current spending and future liabilities — including retirement benefits — below expected current and future revenue.'"
"Michigan Sen. John Gleason tried to save the credit ratings of cities that are taken over by an emergency financial manager.
Earlier this month, he introduced an amendment that states they “will not have its bond rating downrated.”
The problem?
That’s not the government’s call, said Jack McHugh, legislative analyst for the Mackinac Center for Public Policy.
“Municipal bonds’ credit worthiness ratings are provided by independent private agencies over which a state legislature has absolutely no control,” McHugh wrote in an e-mail.
Gleason, D-Flushing, didn’t return a call seeking comment.
His amendment of March 9 to House Bill 4214 failed by a vote of 26-12.
'This appears to be an example of legislative 'magic thinking,' comparable to the king ordering the tides not to rise,” McHugh wrote in an e-mail.
“In this case, the miracle would be for potential lenders looking to put their precious capital at risk — and their agents at independent credit rating agencies — to ignore the messes created by fiscally reckless local government officials now wanting to borrow even more.
There's no magic required if local officials want to protect their credit rating; all they have to do hold current spending and future liabilities — including retirement benefits — below expected current and future revenue.'"
Chavez says capitalism may have ended life on Mars
Chavez says capitalism may have ended life on Mars - Yahoo! Finance
"'I have always said, heard, that it would not be strange that there had been civilization on Mars, but maybe capitalism arrived there, imperialism arrived and finished off the planet,' Chavez said in speech to mark World Water Day."
"'I have always said, heard, that it would not be strange that there had been civilization on Mars, but maybe capitalism arrived there, imperialism arrived and finished off the planet,' Chavez said in speech to mark World Water Day."
Never Mind
Never Mind - Opinion - PatriotPost.US
"state Sen. Obama was unpersuaded:
'I suffer no illusions about Saddam Hussein.
He is a brutal man.
A ruthless man.
A man who butchers his own people to secure his own power.
He has repeatedly defied UN resolutions, thwarted U.N. inspection teams, developed chemical and biological weapons, and coveted nuclear capacity. ...
But ... Saddam poses no imminent and direct threat to the United States, or to his neighbors ...'
As American forces join the war against Moammar Gadhafi, the nation is entitled to an explanation.
How is the case for war against Gadhafi smarter (remember, Obama is only against 'dumb' wars) or less 'ideological' or more prudent than that for war against Saddam Hussein?"
"state Sen. Obama was unpersuaded:
'I suffer no illusions about Saddam Hussein.
He is a brutal man.
A ruthless man.
A man who butchers his own people to secure his own power.
He has repeatedly defied UN resolutions, thwarted U.N. inspection teams, developed chemical and biological weapons, and coveted nuclear capacity. ...
But ... Saddam poses no imminent and direct threat to the United States, or to his neighbors ...'
As American forces join the war against Moammar Gadhafi, the nation is entitled to an explanation.
How is the case for war against Gadhafi smarter (remember, Obama is only against 'dumb' wars) or less 'ideological' or more prudent than that for war against Saddam Hussein?"
Ross Bennett explains why comics can't do Obama jokes
theblogprof: Video: Ross Bennett explains why comics can't do Obama jokes
"Saw Jay Leno last night and his attempts at poking fun at Obama were utterly lame as usual.
Almost as if the jokes were designed to fail (just like ObamaCare!).
Ross Bennett explains why successful Obama jokes are a no no:"
"Saw Jay Leno last night and his attempts at poking fun at Obama were utterly lame as usual.
Almost as if the jokes were designed to fail (just like ObamaCare!).
Ross Bennett explains why successful Obama jokes are a no no:"
US Approaching Insolvency, Fix To Be 'Painful'
US Approaching Insolvency, Fix To Be 'Painful': Fisher - CNBC
"The United States is on a fiscal path towards insolvency and policymakers are at a 'tipping point,' a Federal Reserve official said on Tuesday."
"The United States is on a fiscal path towards insolvency and policymakers are at a 'tipping point,' a Federal Reserve official said on Tuesday."
Bill Maher Calls Sarah Palin a Female Vulgarism, NOW Stays Mum
Bill Maher Calls Sarah Palin a Female Vulgarism, NOW Stays Mum - FoxNews.com
"Bill Maher and Sarah Palin. (Reuters)Bill Maher uttered a female vulgarism when referring to former Republican VP candidate Sarah Palin on his HBO show Friday night.
“Did you hear this – Sarah Palin finally heard what happened in Japan and she’s demanding that we invade ‘Tsunami,’” Maher said.
“I mean she said, ‘These ‘Tsunamians’ will not get away with this.’
Oh speaking of dumb tw**s, did you...”"
Gotta love those "sensitive" libs......
Why does one woman make lib men go insane?
"Bill Maher and Sarah Palin. (Reuters)Bill Maher uttered a female vulgarism when referring to former Republican VP candidate Sarah Palin on his HBO show Friday night.
“Did you hear this – Sarah Palin finally heard what happened in Japan and she’s demanding that we invade ‘Tsunami,’” Maher said.
“I mean she said, ‘These ‘Tsunamians’ will not get away with this.’
Oh speaking of dumb tw**s, did you...”"
Gotta love those "sensitive" libs......
Why does one woman make lib men go insane?
Muskegon County officials weigh jail options, including using state prison
Muskegon County officials weigh jail options, including using state prison MLive.com
"Although the issuance of capital-improvement bonds seemed the likely financing model, the option of a voter-approved millage was identified during the presentation. County commissioners have been reluctant to seek a millage, fearing voters would reject it."
"Although the issuance of capital-improvement bonds seemed the likely financing model, the option of a voter-approved millage was identified during the presentation. County commissioners have been reluctant to seek a millage, fearing voters would reject it."
County raises costs for union retirees
County raises costs for union retirees - JSOnline
"Retirees from Milwaukee County's largest union would pay more for their health care, under a series of changes approved by the County Board Thursday that would save taxpayers $5.4 million this year.
The change was adopted on a 14-1 vote, after the board agreed to reconsider its decision earlier in the day to delay the move.
Holding off on the change for a month would have cost the county $400,000."
"Retirees from Milwaukee County's largest union would pay more for their health care, under a series of changes approved by the County Board Thursday that would save taxpayers $5.4 million this year.
The change was adopted on a 14-1 vote, after the board agreed to reconsider its decision earlier in the day to delay the move.
Holding off on the change for a month would have cost the county $400,000."
Playing taxpayers for suckers
American Thinker Blog: Playing taxpayers for suckers
"One of numerous ways taxpayers are being ripped off by public employees is through phony 'retirement' schemes that enable the employee to collect a fat pension in addition to continuing to work and receive salary and benefits.
The 'retirement' pay becomes, in effect, a huge pay increase, one usually linked to inflation.
This 'double-dipping' is not uncommon when taxpayers are on the hook, but exceedingly rare in the private sector.
Quite clearly, the politicians who sign such contracts are, in collusion with the employees (and their unions), playing the taxpayers for suckers."
"One of numerous ways taxpayers are being ripped off by public employees is through phony 'retirement' schemes that enable the employee to collect a fat pension in addition to continuing to work and receive salary and benefits.
The 'retirement' pay becomes, in effect, a huge pay increase, one usually linked to inflation.
This 'double-dipping' is not uncommon when taxpayers are on the hook, but exceedingly rare in the private sector.
Quite clearly, the politicians who sign such contracts are, in collusion with the employees (and their unions), playing the taxpayers for suckers."
Portugal braces for govt collapse over debt vote
Portugal braces for govt collapse over debt vote - Yahoo! Finance
"Portugal's government is on the verge of collapse after opposition parties withdrew their support for another round of austerity policies aimed at averting a financial bailout."
The public service unions have killed that country.
Will they do the same to the USA?
"Portugal's government is on the verge of collapse after opposition parties withdrew their support for another round of austerity policies aimed at averting a financial bailout."
The public service unions have killed that country.
Will they do the same to the USA?
Nuclear Power's Unchanging Plight
Nuclear Power's Unchanging Plight - Reason Magazine
"Nuclear Power's Unchanging Plight
Nuclear is the fuel of the future—and always will be"
"Nuclear Power's Unchanging Plight
Nuclear is the fuel of the future—and always will be"
Judge orders use of Islamic law in Tampa lawsuit over mosque leadership
Judge orders use of Islamic law in Tampa lawsuit over mosque leadership - St. Petersburg Times
"'This case,' the judge wrote, 'will proceed under Ecclesiastical Islamic Law.'"
"'This case,' the judge wrote, 'will proceed under Ecclesiastical Islamic Law.'"
Pension Reformers Shift Focus to Current Employees
Pension Reformers Shift Focus to Current Employees
"'Pension costs will crush government.'
'The math doesn't work.'
'The system lacks discipline.'
'The system lacks oversight and accountability.'
These are the words of a bipartisan, standing legislative commission — not a bunch of union-hating, anti-government pension gadflies."
"'Pension costs will crush government.'
'The math doesn't work.'
'The system lacks discipline.'
'The system lacks oversight and accountability.'
These are the words of a bipartisan, standing legislative commission — not a bunch of union-hating, anti-government pension gadflies."
Why Obama Went to Brazil
O'Grady: Why Obama Went to Brazil - WSJ.com
"Yet there is a case to be made for going—to Brazil anyway.
Arguably Santiago and San Salvador could have been postponed.
Chile is already a stable ally and the stop in El Salvador, to mouth platitudes about hemispheric security while Central America is going up in narco-trafficking flames, only highlights the futility of the U.S. war on drugs.
Going to Brasilia to meet with Workers' Party President Dilma Rousseff on Saturday, on the other hand, was important.
Unfortunately, Mr. Obama discredited his trip even before it began by peddling it as a trade mission to create jobs and boost the U.S. economy.
With those goals in mind, he would have been better off staying home and lobbying Congress to drop the 54 cents per gallon tariff on Brazilian sugar ethanol, and to end all U.S. subsidies on cotton, which have been ruled illegal by the World Trade Organization in a case brought by Brazil.
Or he could have sent the Colombia and Panama free trade agreements to the other end of Pennsylvania Avenue, where they would be easily ratified.
Let's face it: Mr. Obama's reputation as a protectionist precedes him.
If he believes otherwise, our silver-tongued president has a tin ear."
"Yet there is a case to be made for going—to Brazil anyway.
Arguably Santiago and San Salvador could have been postponed.
Chile is already a stable ally and the stop in El Salvador, to mouth platitudes about hemispheric security while Central America is going up in narco-trafficking flames, only highlights the futility of the U.S. war on drugs.
Going to Brasilia to meet with Workers' Party President Dilma Rousseff on Saturday, on the other hand, was important.
Unfortunately, Mr. Obama discredited his trip even before it began by peddling it as a trade mission to create jobs and boost the U.S. economy.
With those goals in mind, he would have been better off staying home and lobbying Congress to drop the 54 cents per gallon tariff on Brazilian sugar ethanol, and to end all U.S. subsidies on cotton, which have been ruled illegal by the World Trade Organization in a case brought by Brazil.
Or he could have sent the Colombia and Panama free trade agreements to the other end of Pennsylvania Avenue, where they would be easily ratified.
Let's face it: Mr. Obama's reputation as a protectionist precedes him.
If he believes otherwise, our silver-tongued president has a tin ear."
Emergency Manager law already forcing unions into new concessions
Emergency Manager law already forcing unions into new concessions Michigan Messenger
"In Flint, which received state approval for an $8 million emergency bond needed to make payroll this month and is seen as a likely target for state intervention, the firefighters union has reportedly issued a list of new concessions including increased health insurance payments and giving up holiday pay and night-shift premiums."
"In Flint, which received state approval for an $8 million emergency bond needed to make payroll this month and is seen as a likely target for state intervention, the firefighters union has reportedly issued a list of new concessions including increased health insurance payments and giving up holiday pay and night-shift premiums."
I MENTIONED MARKDOWNS ON WATCHES THE OTHER DAY
Instapundit » Blog Archive » I MENTIONED MARKDOWNS ON WATCHES THE OTHER DAY, and I now wonder if they’re desperate. Reader Duke …
"March 21, 2011
I MENTIONED MARKDOWNS ON WATCHES THE OTHER DAY, and I now wonder if they’re desperate.
Reader Duke DeLand emails:
“April 20th 2009 I removed my wrist watch and it still rests on my bedside table.
With my phone always there I found it less-than necessary.
Many with whom i talk say the same.
Have most of us abandoned watches?”
I still wear a watch.
I have a couple of fancy ones I wear for dress occasions (one was my grandfather’s, the other was an anniversary present).
But I usually wear a Timex Ironman and I still use it pretty regularly — though the thing I really like about it is the night light, which is bright enough to let me navigate in the dark.
Posted by Glenn Reynolds at 6:37 pm"
I am a watch nerd..but they are increasingly becoming an affectation.... bummer...
"March 21, 2011
I MENTIONED MARKDOWNS ON WATCHES THE OTHER DAY, and I now wonder if they’re desperate.
Reader Duke DeLand emails:
“April 20th 2009 I removed my wrist watch and it still rests on my bedside table.
With my phone always there I found it less-than necessary.
Many with whom i talk say the same.
Have most of us abandoned watches?”
I still wear a watch.
I have a couple of fancy ones I wear for dress occasions (one was my grandfather’s, the other was an anniversary present).
But I usually wear a Timex Ironman and I still use it pretty regularly — though the thing I really like about it is the night light, which is bright enough to let me navigate in the dark.
Posted by Glenn Reynolds at 6:37 pm"
I am a watch nerd..but they are increasingly becoming an affectation.... bummer...
Monday, March 21, 2011
Baby Joseph Is Going Home
Baby Joseph Is Going Home - Investors.com
"A Canada court had ruled that under socialized medicine their baby must die in the hospital.
Now he's in the U.S., getting the care his parents, not the bureaucrats, want."
"A Canada court had ruled that under socialized medicine their baby must die in the hospital.
Now he's in the U.S., getting the care his parents, not the bureaucrats, want."
Why Do We Let Girls Dress Like That?
Why Do We Let Girls Dress Like That? - WSJ.com
" A few minutes later, they return to the dance floor, where they shake everything they've got under the party lights.
But for the most part, there isn't all that much to shake.
This particular group of party-goers consists of 12- and 13-year-old girls"
" A few minutes later, they return to the dance floor, where they shake everything they've got under the party lights.
But for the most part, there isn't all that much to shake.
This particular group of party-goers consists of 12- and 13-year-old girls"
Nine states expected to be central to battle for Senate, presidency
Nine states expected to be central to battle for Senate, presidency - The Washington Post
"Ditto Michigan, where a struggling economy could complicate Sen. Debbie Stabenow’s reelection bid as well as Obama’s path to victory in the state."
Only if we can find and support a true conservative.....an articulate conservative!
"Ditto Michigan, where a struggling economy could complicate Sen. Debbie Stabenow’s reelection bid as well as Obama’s path to victory in the state."
Only if we can find and support a true conservative.....an articulate conservative!
Spring Football Game, Youth Clinic Scheduled For April 30
Spring Football Game, Youth Clinic Scheduled For April 30 - MICHIGAN STATE OFFICIAL ATHLETIC SITE
Michigan State football concludes its 15 spring practices under fifth-year head coach Mark Dantonio with the Green-White intrasquad game on Saturday, April 30 at 1:30 p.m. EDT in Spartan Stadium."
Michigan State football concludes its 15 spring practices under fifth-year head coach Mark Dantonio with the Green-White intrasquad game on Saturday, April 30 at 1:30 p.m. EDT in Spartan Stadium."
UPDATED: AG APPEALS DECISION
UPDATED: AG APPEALS DECISION Newsradio 620 - Milwaukee, Wisconsin News, Talk, Sports, Weather Charlie Sykes
"Here is the link to the Attorney General's appeal of last Friday's ruling by Madison judge Maryann Sumi.
It makes it quite clear that she had no juridiction and that her over-reach violated both the constitutional separation of powers, but also clear and explicit insytructions from the state Supreme Court."
More on the battle in Wisconsin
"Here is the link to the Attorney General's appeal of last Friday's ruling by Madison judge Maryann Sumi.
It makes it quite clear that she had no juridiction and that her over-reach violated both the constitutional separation of powers, but also clear and explicit insytructions from the state Supreme Court."
More on the battle in Wisconsin
Suttons Bay star, Michigan State signee Dwaun Anderson named Mr. Basketball
Suttons Bay star, Michigan State signee Dwaun Anderson named Mr. Basketball detnews.com The Detroit News
"Anderson is a 6-4 guard/forward who averaged 20.1 points, 10 rebounds, 4.5 assists, 3.3 steals and 1.9 blocks.
He signed with Michigan State where he'll join the last two winners (Derrick Nix and Keith Appling of Detroit Pershing)."
"Anderson is a 6-4 guard/forward who averaged 20.1 points, 10 rebounds, 4.5 assists, 3.3 steals and 1.9 blocks.
He signed with Michigan State where he'll join the last two winners (Derrick Nix and Keith Appling of Detroit Pershing)."
The 'Pension Ponzi' Rap
The 'Pension Ponzi' Rap
"So it is not the pension fund itself that is a Ponzi scheme.
It is the plan's accumulation of unfunded liabilities that are not fully prepaid before current workers retire that constitutes a Ponzi account within the pension fund."
"So it is not the pension fund itself that is a Ponzi scheme.
It is the plan's accumulation of unfunded liabilities that are not fully prepaid before current workers retire that constitutes a Ponzi account within the pension fund."
Video: Gov. Rick Synder says local governments must show improvement to get state dollars
Video: Gov. Rick Synder says local governments must show improvement to get state dollars MLive.com
"To meet the accountability goal, communities would be required to post their financial data and performance on an online “dashboard” by Oct. 1.
The compensation incentive would require communities to replace defined benefit pensions with 401(k)-style retirement savings programs and require an 20 percent employee match for health care."
A GREAT start!
"To meet the accountability goal, communities would be required to post their financial data and performance on an online “dashboard” by Oct. 1.
The compensation incentive would require communities to replace defined benefit pensions with 401(k)-style retirement savings programs and require an 20 percent employee match for health care."
A GREAT start!
Muskegon Taxpayers Alliance
Muskegon Taxpayers Alliance
"Muskegon Tea Party Meeting Whitlow's Banquet Hall (on Airline Rd.)
EVERYONE is invited!"
"Muskegon Tea Party Meeting Whitlow's Banquet Hall (on Airline Rd.)
EVERYONE is invited!"
Democrats catching impeachment fever?
Democrats catching impeachment fever? « Hot Air
"If nothing else, Dennis Kucinich is consistent.
He wanted to push articles of impeachment against George W. Bush and Dick Cheney over the Iraq war, which his own party’s leadership squelched in the summer of 2008 — when Bush’s term had all but expired anyway.
Kucinich and John Conyers instead had to settle for “impugnment hearings,” which one witness called “slightly demented.”
Now we have another military action from another president, this one without the cover of a Congressional authorization to use military force, and Kucinich wants to crank up the impeachment process, pun most certainly intended:"
"If nothing else, Dennis Kucinich is consistent.
He wanted to push articles of impeachment against George W. Bush and Dick Cheney over the Iraq war, which his own party’s leadership squelched in the summer of 2008 — when Bush’s term had all but expired anyway.
Kucinich and John Conyers instead had to settle for “impugnment hearings,” which one witness called “slightly demented.”
Now we have another military action from another president, this one without the cover of a Congressional authorization to use military force, and Kucinich wants to crank up the impeachment process, pun most certainly intended:"
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