UC Tuition Hikes and Public Employee Pensions – WSJ.com
In 1999, the Democratic legislature ran a reckless gamble that makes Wall Street's bankers look cautious. At the top of a bull market, they assumed their investment returns would grow at a 8.25% rate in perpetuity—equivalent to assuming that the Dow would reach 25,000 by 2009—and enacted a huge pension boon for public-safety and industrial unions.
The bill refigured the compensation formula for pension benefits of all public-safety employees who retired on or after January 1, 2000. It let firefighters retire at age 50 and receive 3% of their final year's compensation times the number of years they worked. If a firefighter started working at the age of 20, he could retire at 50 and earn 90% of his final salary, in perpetuity. One San Ramon Valley fire chief's yearly pension amounted to $284,000—more than his $221,000 annual salary.
In 2002, the state legislature further extended benefits to many nonsafety classifications, such as milk and billboard inspectors. More than 15,000 public employees have retired with annual pensions greater than $100,000. Who needs college when you can get a state job and make out like that?
via UC Tuition Hikes and Public Employee Pensions – WSJ.com.
Obama’s New ‘Poverty’ Measurement – Robert Rector – National Review Online
The current poverty measure counts absolute purchasing power — how much steak and potatoes you can buy. The new measure will count comparative purchasing power — how much steak and potatoes you can buy relative to other people. As the nation becomes wealthier, the poverty standards will increase in proportion. In other words, Obama will employ a statistical trick to ensure that “the poor will always be with you,” no matter how much better off they get in absolute terms.
via Obama’s New ‘Poverty’ Measurement – Robert Rector – National Review Online.
Public input period for federal fishery strategy has ended – ESPN
“Now we see NOAA National Oceanic and Atmospheric Administration and the administration planning the future of recreational fishing access in America based on a similar agenda of these same groups and other Big Green anti-use organizations, through an Executive Order by the President. The current U.S. direction with fishing is a direct parallel to what happened in Canada with hunting: The negative economic impacts on hard working American families and small businesses are being ignored.”
In spite of what we hear daily in the press about the President's concern for jobs and the economy and contrary to what he stated in the June order creating this process, we have seen no evidence from NOAA or the task force that recreational fishing and related jobs are receiving any priority.”
Consequently, unless anglers speak up and convince their Congressional representatives to stop this bureaucratic freight train, it appears that the task force will issue a final report for “marine spatial planning” by late March, with President Barack Obama then issuing an Executive Order to implement its recommendations — whatever they may be.
Led by NOAA’s Jane Lubchenco, the task force has shown no overt dislike of recreational angling, but its indifference to the economic, social and biological value of the sport has been deafening.Additionally, Lubchenco and others in the administration have close ties to environmental groups who would like nothing better than to ban recreational angling. And evidence suggests that these organizations have been the engine behind the task force since before Obama issued a memo creating it last June.
As ESPN previously reported, WWF, Greenpeace, Defenders of Wildlife, Pew Environment Group and others produced a document entitled “Transition Green” shortly after Obama was elected in 2008. What has happened since suggests that the task force has been in lockstep with that position paper.
via Public input period for federal fishery strategy has ended – ESPN.
Senate Staffers Warned to Stay Clear of Drudge Report (by liberal senate admin)
Running scared of information? Wrong industry honey.
http://www.foxnews.com/politics/2010/03/09/senate-warns-staffers-stay-clear-drudge-report/
ACORN ‘dissolved as a national structure’ – Ben Smith – POLITICO.com
Time to start keeping track of “New York Communities for Change”.
via ACORN ‘dissolved as a national structure’ – Ben Smith – POLITICO.com.
