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
Sunday, January 22, 2012
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?”
Thursday, January 19, 2012
Editorial: Obama's call a job killer
Editorial: Obama's call a job killer Editorial Opinion Edmonton Sun
The Republicans aren't telling the whole truth when they say Barack Obama doesn't care about jobs.
The U.S. president is desperately worried about one: his own.
That's the real reason the Obama administration denied a presidential permit for the Keystone XL pipeline Wednesday,
The Republicans aren't telling the whole truth when they say Barack Obama doesn't care about jobs.
The U.S. president is desperately worried about one: his own.
That's the real reason the Obama administration denied a presidential permit for the Keystone XL pipeline Wednesday,
Private Elevator Productions Offers Casey Anthony $1 Million
Private Elevator Productions Offers Casey Anthony $1 Million Mediaite
CNN Confirms Casey Anthony ‘Will Get $1 Million’ For Interview
CNN Confirms Casey Anthony ‘Will Get $1 Million’ For Interview
Dems propose 'Reasonable Profits Board' to regulate oil company profits
Dems propose 'Reasonable Profits Board' to regulate oil company profits - The Hill's Floor Action
Six House Democrats, led by Rep. Dennis Kucinich (D-Ohio), want to set up a "Reasonable Profits Board" to control gas profits.
The Democrats, worried about higher gas prices, want to set up a board that would apply a "windfall profit tax" as high as 100 percent on the sale of oil and gas, according to their legislation.
The bill provides no specific guidance for how the board would determine what constitutes a reasonable profit.
Six House Democrats, led by Rep. Dennis Kucinich (D-Ohio), want to set up a "Reasonable Profits Board" to control gas profits.
The Democrats, worried about higher gas prices, want to set up a board that would apply a "windfall profit tax" as high as 100 percent on the sale of oil and gas, according to their legislation.
The bill provides no specific guidance for how the board would determine what constitutes a reasonable profit.
A Lose, Lose, Lose, Lose, Lose Proposition
A Lose, Lose, Lose, Lose, Lose Proposition - By Victor Davis Hanson - The Corner - National Review Online
As he did with his probably illegal “recess” appointments, President Obama picked a politically advantageous time to cancel the Keystone pipeline project — while the media is obsessed with the South Carolina primary, Newt Gingrich’s second wife, and Mitt Romney’s investments.
Yet it is hard to remember a presidential decision that had as many negatives as this one:
As he did with his probably illegal “recess” appointments, President Obama picked a politically advantageous time to cancel the Keystone pipeline project — while the media is obsessed with the South Carolina primary, Newt Gingrich’s second wife, and Mitt Romney’s investments.
Yet it is hard to remember a presidential decision that had as many negatives as this one:
» Rubber Rooms’ Kissing Cousin: New York City’s Absent Teacher Reserve Program
» Rubber Rooms’ Kissing Cousin: New York City’s Absent Teacher Reserve Program - Big Government
New York City government schools have had some pretty outrageous policies.
Rubber rooms were a great example.
They were special places created for teachers accused of crimes, incompetence and the like.
Due to state tenure laws, it actually cost less to house the failed teachers in a location where they couldn’t inflict more damage on students, than to go through the lengthy and expensive legal process necessary to fire them.
Thanks Big Labor!
Now New York administrators are trying to deep-six a program created a few years ago in the collective bargaining agreement with the United Federation of Teachers: the Absent Teacher Reserve.
New York City government schools have had some pretty outrageous policies.
Rubber rooms were a great example.
They were special places created for teachers accused of crimes, incompetence and the like.
Due to state tenure laws, it actually cost less to house the failed teachers in a location where they couldn’t inflict more damage on students, than to go through the lengthy and expensive legal process necessary to fire them.
Thanks Big Labor!
Now New York administrators are trying to deep-six a program created a few years ago in the collective bargaining agreement with the United Federation of Teachers: the Absent Teacher Reserve.
NYC Business Bled to Death Over Toy Guns
Moonbattery » NYC Business Bled to Death Over Toy Guns
The owner of a discount store in Brooklyn says the city is holding him up for $30,000 in fines he can’t afford — all because he stocked six toy sheriff sets that included plastic guns.
And now the .44-caliber fines for the orange-tipped, obvious fakes are forcing him to close for good.
The owner of a discount store in Brooklyn says the city is holding him up for $30,000 in fines he can’t afford — all because he stocked six toy sheriff sets that included plastic guns.
And now the .44-caliber fines for the orange-tipped, obvious fakes are forcing him to close for good.
Steve Gunn: Muskegon County made the wrong choice on criminal history in the hiring process
Steve Gunn: Muskegon County made the wrong choice on criminal history in the hiring process MLive.com
But remaining ignorant about the applicant's background until late in the hiring process does nothing to further that cause.
It only enhances the chance of a county official making a terrible mistake and hiring somebody who will make all of us live to regret their decision.
At least with a checked "yes" box, the interviewer will not forget to ask about all the pertinent details and accidently hire a dangerous person for a sensitive job.
But remaining ignorant about the applicant's background until late in the hiring process does nothing to further that cause.
It only enhances the chance of a county official making a terrible mistake and hiring somebody who will make all of us live to regret their decision.
At least with a checked "yes" box, the interviewer will not forget to ask about all the pertinent details and accidently hire a dangerous person for a sensitive job.
State of the State: 7 Detroit highlights from Governor Rick Snyder's address
State of the State: 7 Detroit highlights from Governor Rick Snyder's address MLive.com
What did he say about Michigan’s largest city, Detroit?
Here are some highlights.
What did he say about Michigan’s largest city, Detroit?
Here are some highlights.
Plans halted for wind farm in northwestern Lower Peninsula
Plans halted for wind farm in northwestern Lower Peninsula MLive.com
Milton Howard, vice president of wind development, said the timing was off to sell electricity generated by the project.
Milton Howard, vice president of wind development, said the timing was off to sell electricity generated by the project.
Judge tosses suit over Jack Kevorkian artwork
Judge tosses suit over Jack Kevorkian artwork MLive.com
A judge has dismissed a lawsuit filed in suburban Detroit by the estate of Dr. Jack Kevorkian against a Massachusetts museum that refused to return 17 of his paintings.
A judge has dismissed a lawsuit filed in suburban Detroit by the estate of Dr. Jack Kevorkian against a Massachusetts museum that refused to return 17 of his paintings.
Rick Santorum's Tragic Yearbook Photo
Rick Santorum's Tragic Yearbook Photo - Joshua Green - Politics - The Atlantic
I suppose it's Santorum's misfortune to have been in high school during this era.
I'm pretty sure that 1976 wasn't too kind to anyone. B
ut still. Wow--he looks like McLovin in polyester.
I suppose it's Santorum's misfortune to have been in high school during this era.
I'm pretty sure that 1976 wasn't too kind to anyone. B
ut still. Wow--he looks like McLovin in polyester.
Wednesday, January 18, 2012
USA TODAY College Football Coach salary database, 2006-2011
NCAA Data Table: USA TODAY College Football Coach salary database, 2006-2011
Tuesday, January 17, 2012
13 Politically Incorrect Gun Rules
13 Politically Incorrect Gun Rules « » Print The Daily Caller:
6. The average response time of a 911 call is 23 minutes; the response time of a .357 is 1400 feet per second.
6. The average response time of a 911 call is 23 minutes; the response time of a .357 is 1400 feet per second.
New Obama OMB director a Bain alum
New Obama OMB director a Bain alum Campaign 2012 Washington Examiner
Jeffrey Zients will serve as President Obama's new acting director of the Office of Management and Budget (OMB), but the president's decision might undercut attacks on Republican Mitt Romney's career as a venture capitalist, because Zients and Romney are both alumni of Bain & Company
Jeffrey Zients will serve as President Obama's new acting director of the Office of Management and Budget (OMB), but the president's decision might undercut attacks on Republican Mitt Romney's career as a venture capitalist, because Zients and Romney are both alumni of Bain & Company
Brewer you've never heard of is No. 1 in US, depending how you count
Bottom Line - Brewer you've never heard of is No. 1 in US, depending how you count
A beer maker many drinkers haven’t heard of has become the top American brewer.
Depending on how you define “American brewer.”
G.G. Yuengling and Son didn’t as much dethrone Budweiser, Miller and Coors as it had to wait for them to get acquired by foreign companies.
A beer maker many drinkers haven’t heard of has become the top American brewer.
Depending on how you define “American brewer.”
G.G. Yuengling and Son didn’t as much dethrone Budweiser, Miller and Coors as it had to wait for them to get acquired by foreign companies.
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