NY Times July 29. 2010
Mount Sinai Medical School Humanities and Medicine Program (Manhattan) will now admit 35 students without training in science. They (students) can study humanities or social sciences instead of the traditional pre-medical school curriculum.
Why?
This program is in place at other Medical Schools to foster diversity, provide opportunity and fight against discrimination.
What does this mean?
Nothing good.
Thursday, July 29, 2010
Friday, July 23, 2010
New Jersey State Pension Plan
(BBW 7/19/10) NJ did not make a $3 billion required contribution to State Pension Plans for State Employees. The State Pension Plans were underfunded by $46 billion at the start of the end of 2009. NJ is typical of many States.
Current State and Federal budget estimates are that 40-60% of government expenditures will need to be borrowed. (These are government estimates. Non-government economists estimate the true number will be 50-75 %.)
Q: Where will the money come from?
A: Some will come from whatever remains of previously funded pension plans. The remainder will be paid by taxpayers, debts that will accrue to your children and grandchildren, sale of public property, etc.
Q: What does this mean?
A: It means our government has failed.
Q: What can we do?
A: We must replace government. We must “freeze” all government expenditures. We must review every government pension plan, health care obligation, contract and all non-essential payments.
Murray observes, “Paying taxes to government is like feeding slop to pigs. It just makes them greedier.
Current State and Federal budget estimates are that 40-60% of government expenditures will need to be borrowed. (These are government estimates. Non-government economists estimate the true number will be 50-75 %.)
Q: Where will the money come from?
A: Some will come from whatever remains of previously funded pension plans. The remainder will be paid by taxpayers, debts that will accrue to your children and grandchildren, sale of public property, etc.
Q: What does this mean?
A: It means our government has failed.
Q: What can we do?
A: We must replace government. We must “freeze” all government expenditures. We must review every government pension plan, health care obligation, contract and all non-essential payments.
Murray observes, “Paying taxes to government is like feeding slop to pigs. It just makes them greedier.
Tuesday, July 20, 2010
Bell CA and America
Bell California
Bell is a city in Los Angeles County, California.
The population was 36,664 at the 2000 census.
Salaries 2010
Police Chief $457,000
City Manager $787,875
Assistant City Manager Angela Spaccia was earning $376,288
Councilmen $90,000 +
Board Members $27,000+
Appointees $47,000+
Citizens are outraged but City Council, County, State or Federal authorities do not help.
Q: Where do they get the money?
A: They get the money from taxes.
Bell is reflection of many parts of America today.
Government spending on all levels is out of control.
Q: What does this mean?
A: America is on the road to collapse.
Q: What can we do?
Some advise … Don’t pay taxes. Most people do not pay taxes.
Bell is a city in Los Angeles County, California.
The population was 36,664 at the 2000 census.
Salaries 2010
Police Chief $457,000
City Manager $787,875
Assistant City Manager Angela Spaccia was earning $376,288
Councilmen $90,000 +
Board Members $27,000+
Appointees $47,000+
Citizens are outraged but City Council, County, State or Federal authorities do not help.
Q: Where do they get the money?
A: They get the money from taxes.
Bell is reflection of many parts of America today.
Government spending on all levels is out of control.
Q: What does this mean?
A: America is on the road to collapse.
Q: What can we do?
Some advise … Don’t pay taxes. Most people do not pay taxes.
Tuesday, July 6, 2010
Obama's Earmarks
In 2006, Senator Obama got an “earmark” of $1,000,000+ for the University of Chicago Hospital. Obama had just been elected and this was an early opportunity. His wife, Michele, had an Obama job at the Hospital doing some kind of “community” things. She got $121,000 anually. After the Obama “earmark” her salary jumped to $316,000+.
This is a 20% “kickback”. The usual “kickback” is 15-40%. Obama’s various staff members received 20-40% and the Hospital Administrators, lobbyists and lawyers took another 20%+. The Hospital and taxpayer was lucky if they got enough to buy one bedpan.
What about Obama’s “earmark” promises during the campaign?
What about Obama’s “earmark” promises since he became President?
“Earmarks” are dramatically increasing with the help of Obama and Congress.
What does this mean?
Obviously, it means Obama, like all politicians is a liar, is corrupt and cannot be trusted.
Obviously, it means Congress and all politicians are corrupt and cannot be trusted.
What else does this mean? It means that anyone who still pays taxes adds to the problem and is a moron.
What should we do?
This is a 20% “kickback”. The usual “kickback” is 15-40%. Obama’s various staff members received 20-40% and the Hospital Administrators, lobbyists and lawyers took another 20%+. The Hospital and taxpayer was lucky if they got enough to buy one bedpan.
What about Obama’s “earmark” promises during the campaign?
What about Obama’s “earmark” promises since he became President?
“Earmarks” are dramatically increasing with the help of Obama and Congress.
What does this mean?
Obviously, it means Obama, like all politicians is a liar, is corrupt and cannot be trusted.
Obviously, it means Congress and all politicians are corrupt and cannot be trusted.
What else does this mean? It means that anyone who still pays taxes adds to the problem and is a moron.
What should we do?
Wednesday, June 23, 2010
Muni Bonds will go kaput.
(The Economist. 6/19/10 p32) Several State constitutions, including NY and IL, make State Pensions senior to bond debt.
Q: What does this mean?
A: Bond interest or repayments cannot be made until ALL pension and retiree obligations have been made. NYS, Illinois and many other State pension obligations are materially underfunded. The States are effectively bankrupt. By 2015, the states will be forced to stop payment of bond interest and stop refunding bonds at maturity.
Q: What to do?
A: Get rid of Munis before they become "frozen" and/or worthless.
Q: What does this mean?
A: Bond interest or repayments cannot be made until ALL pension and retiree obligations have been made. NYS, Illinois and many other State pension obligations are materially underfunded. The States are effectively bankrupt. By 2015, the states will be forced to stop payment of bond interest and stop refunding bonds at maturity.
Q: What to do?
A: Get rid of Munis before they become "frozen" and/or worthless.
Friday, June 18, 2010
$54 million for Mohegan Sun
Mohegan Sun is a gambling casino in Connecticut. Last year they had revenues of over $1.6 billion (ABC news 6/17/10).
They received a grant of $54 million "stimulus" money from the American Taxpayer. This was a result of the actions of the U.S. Congress, State and Local Gevernment and the President.
What does this mean?
It means the U.S. is giving away taxpayer money.
It means Taxpayers are stupid.
Q: What can we do?
A: Stop giving them money.
They received a grant of $54 million "stimulus" money from the American Taxpayer. This was a result of the actions of the U.S. Congress, State and Local Gevernment and the President.
What does this mean?
It means the U.S. is giving away taxpayer money.
It means Taxpayers are stupid.
Q: What can we do?
A: Stop giving them money.
Sunday, June 13, 2010
State Pensions Kaput!
NYS Pension Plan borrows from Pension Plan
NYTimes 6/11/10
ALBANY — Gov. David A. Paterson and legislative leaders have tentatively agreed to allow the state and municipalities to borrow nearly $6 billion to help them make their required annual payments to the state pension fund.
This was done in 2005. NYS borrowed $655 million from the Pension Plans to make repayments and still owe over $400 million. The repayments were made with money borrowed from Pension Plans.
NYS Pension Plans include Municipalities, County and State Plans. The current shortfall is estimated to be over $9.2 billion.
Q: What does this mean?
NYS cannot meet current pension obligations.
NYS cannot meet future pension obligations.
NYS is bankrupt.
Q: What will happen?
Very bad things will happen.
Q: What can we do?
Not much! Politicians continue to make promises that can't be met and steal every current and future dollar.
If you have money in any NYS (including local, agencies, etc.) plan, get your money out.
Stop contributing.
Temporarily, put everything into short-term U.S. Treasuries Direct.
NYTimes 6/11/10
ALBANY — Gov. David A. Paterson and legislative leaders have tentatively agreed to allow the state and municipalities to borrow nearly $6 billion to help them make their required annual payments to the state pension fund.
This was done in 2005. NYS borrowed $655 million from the Pension Plans to make repayments and still owe over $400 million. The repayments were made with money borrowed from Pension Plans.
NYS Pension Plans include Municipalities, County and State Plans. The current shortfall is estimated to be over $9.2 billion.
Q: What does this mean?
NYS cannot meet current pension obligations.
NYS cannot meet future pension obligations.
NYS is bankrupt.
Q: What will happen?
Very bad things will happen.
Q: What can we do?
Not much! Politicians continue to make promises that can't be met and steal every current and future dollar.
If you have money in any NYS (including local, agencies, etc.) plan, get your money out.
Stop contributing.
Temporarily, put everything into short-term U.S. Treasuries Direct.
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