Friday, June 22, 2012

Fared Zakaria Calls For Public Pension Reforms

Why We Need Pension Reform By Fareed Zakaria

From The Time Article

A day after Governor Scott Walker won his recall election, the New York Times wrote, "The biggest political lesson from Wisconsin may be that the overwhelming dominance of money on the Republican side will continue to haunt Democrats." Democrats have drawn much the same conclusion. "You've got a handful of self-interested billionaires who are trying to leverage their money across the country," said David Axelrod, Barack Obama's senior campaign strategist. "Does that concern me? Of course that concerns me."
But then how to explain the landslide victories in San Jose and San Diego of ballot measures meant to cut public-sector retirees' benefits? What should concern Axelrod far more is that on the central issue of the recall--the costs of public-sector employees--the Democratic Party is wrong on the substance, clinging to its constituents rather than doing the right thing.
Warren Buffett calls the costs of public-sector retirees a "time bomb." They are the single biggest threat to the U.S.'s fiscal health. If the U.S. is going to face a Greek-style crisis, it will not be at the federal level but rather with state and local governments. The numbers are staggering. In California, total pension liabilities--the money the state is legally required to pay its public-sector retirees--are 30 times its annual budget deficit. Annual pension costs rose by 2,000% from 1999 to 2009. In Illinois, they are already 15% of general revenue and growing. Ohio's pension liabilities are now 35% of the state's entire GDP.

Tuesday, June 5, 2012

5 Dead Mexicans, Torched In The Arizona Desert Cannot Be Used To Justify Gov Janet Brewer's Past Concerns As They Did Not Have Their Heads Cut Off

5 BODIES FOUND INSIDE TORCHED SUV IN ARIZ. DESERT, DRUG CARTELS SUSPECTED



From The Blaze:


(The Blaze/AP) – An Arizona sheriff says five bodies found burned beyond recognition inside the shell of a charred SUV are likely the result of drug cartel violence.
The bodies and vehicle were found in the Vekol Valley, a rugged, mountainous desert area that’s a well-known smuggling corridor for drugs and illegal immigrants headed from Mexico to Phoenix and the U.S. interior.
The bodies were so severely burned that investigators couldn’t even determine their gender or ethnicity. While it remains uncertain whether the victims were from Mexico, the sheriff’s department has notified the Mexican Consulate.
“Given all these indicators, you don’t have to be a homicide detective to add up all this information,” Pinal County Sheriff Paul Babeu said Saturday.
A Border Patrol agent first spotted the white Ford Expedition driving at around 4:30 a.m, however, the SUV disappeared and federal and local law enforcement were unable to track it down. It is not clear why the vehicle drew attention from authorities in the first place.
At daybreak, an agent spotted tracks leading from Interstate 8 into the desert. The vehicle that left the tracks had apparently launched off the highway, going airborne for a short distance before landing in the desert. The tracks continued on for a couple of miles.