Saturday, May 9, 2009

US National Debt Clock

While at the playground yesterday with the children I heard kool-aid drinking Moms talking about President Obama and what a regular guy he is. First the President of the United States is not a regular guy he is the President of the United States. Second I hope to heck those kool-aid drinking Moms are prepared for what will hit our Country when the economy and the US dollar collapse. Unemployment hitting 8.9 percent is just the tip of the iceberg. Things in this Country are going to get much worse before they get better. How any parent can condone the current level of spending and the tax burden that will be placed on their children is beyond my realm of thinking. These Mom's probably have no ideal that China and the IMF have been hoarding gold and that China wants the IMF to sell their gold so they can buy the gold. Those kool-aid drinking Mom's probably don't even understand the implications to our Country and themselves if this happens.

Spelling and grammar errors as well as typos are left as an exercise for my readers.

Visit the U.S. National Debt Clock

Yet another excellent debt clock is at Us Debt This clock lists private debt, unfunded mandates, unemployment numbers, foreclosures and much more.

Friday, May 8, 2009

A National Bailout for Cities Would be Bad, Very Bad for Taxpayers

A national bailout of cities and or states would be devastating to taxpayers. If a national bailout of cities were to occur it would make the current bailouts look like chump change. Part of the problem with city and state budgets are their pension systems. City and state pensions are Ponzi schemes the way in which they were designed dooms them to failure. Employees or employers contribute only 8-10% to the pension system but once the employee retires they take out 75-90% of their salary, the funds in which the pensions are invested do not return the difference needed to remain sustainable. The retirement age of said employees is anywhere from 45-65 this is another structural failure of the pension system because life expectancy is so high. Many retired employees end up receiving pensions funds for a longer time period than they actually worked within the system.

What can a taxpayer do? Vote for candidates who do not support the current system and vote for candidates who will move toward a defined contribution plan. When and if confronted with a bailout encourage legislators and leaders to accept bankruptcy over a bailout.

The current system has created a two-tiered caste system, which may lead to tyranny. Those in the government who serve the taxpayer should be served by social security and not by a non-sustainable pension system.

Spelling and grammar errors as well as typos are left as an exercise for my readers.

The following piece appears at

U.S. cities need national bailout agency: Rohatyn

NEW YORK (Reuters) - The architect of the 1970s financial rescue of New York City said on Wednesday the federal government should create a powerful national agency to bail out dozens of floundering U.S. cities.

Felix Rohatyn, the chairman of New York's Municipal Assistance Corp. from 1975 to 1993, said at the Reuters Infrastructure Summit that policymakers should look to the Reconstruction Finance Corp. created in 1932 as a model to aid cities and states as they confront their biggest deficits in decades.

"I think this all is unfortunately virgin territory," he said, referring to the impact of the 17-month-old national recession on state and local governments.

Rohatyn, author of "Bold Endeavors," a history of landmark U.S. infrastructure investments, said the depression-era reconstruction bank was a successful lender to local governments, banks and businesses.

The 1930s bank bought preferred stock from the institutions it helped; this let taxpayers share in any future gains.

Rohatyn suggested this kind of funding model might work for the new national agency he outlined.

Today, scores of cities and states are running billions of dollars of deficits. Some have suspended non-critical services by furloughing workers to save money. California and New York state have raised taxes, unpopular steps in a recession.

Unlike the U.S. government, which can print money to close deficits, states and cities are required to balance their budgets.

Rohatyn said hard-pressed state and local governments should be temporarily allowed to run deficits instead of curtailing vital services.

If these governments cannot solve their deficits by themselves, then a national agency could step in, he said. That was how New York state's control board solved the city's budget crisis in the 1970s.

"I think there is a yawning need for a serious look at urban and state problems," Rohatyn said.

In addition to leading the Municipal Assistance Corporation, which sold debt for New York City during its near-brush with bankruptcy, Rohatyn helped lead the state Control Board, which wielded huge power over city budgets.

The board stepped in after New York City's elected leaders were unable to agree on measures to balance the budget.

Rohatyn recalled that tens of thousands of city workers were laid off in just a few years while subway fares doubled.

(Reporting by Michael Connor, Karen Pierog, Joan Gralla, Jim Christie and Ciara Linnane)

Thursday, May 7, 2009

A Real Threat to Free Speech

Localism through the FCC will be a back door into the fairness doctrine and doing away with free speech through local boards made of people from Acorn and other far left groups. This is about destroying conservatism and the conservative voice in America. Read "Censorship the Threat to Silence Talk Radio" Brian Jennings Whether on the right or left free speech should not be opposed. Sign the petition at Censorship: The Threat to Silence Talk Radio.

Ignorance, apathy and so called "compassion" will be the downfall of America. Giving a man a fish is just a form of slavery, teaching him to fish will set him free.

Spelling and grammar errors as well as typos are left as an exercise for my readers.

Wednesday, May 6, 2009

New Hampshire Retirement System Unfunded Obligations

This report originated from the Josiah Bartlett Center but came to me via the Sullivan County GOP. The numbers may be new to my readers but the current status of the retirement system should not be new to my readers. Look at the final number and think of how many people live in New Hampshire. How do you think the state will meet those obligations? The only solution in my eyes is the state must go bankrupt.

Spelling and grammar errors as well as typos are left as an exercise for my readers.

New Hampshire Retirement System Unfunded Obligations
Seven Billion Dollars

The New Hampshire Retirement System (NHRS) is facing a crisis stemming from unfunded pension obligations that threaten the fiscal health of the state. The New Hampshire Center for Public Policy Studies, an independent, nonpartisan organization that pursues data-based research on public policy matters, estimated in September, 2007 that “Legislative promised made to state and local government employees and retirees will be increasingly difficult to honor without increasing state and local taxes.”

The 2003 and 2005 NHRS valuation reports show that within just a two year period, the actuarial funding ratio of the NHRS fell from about 80% to 60%. The chart below shows the unfunded pension obligations of the State of New Hampshire as of 2006:

From 2000 to 2006, the accrued liabilities of the pension fund increases by almost $3 billion, while the net assets held for benefits increased by only about $800 million.

However, this underestimates the overall shortfall of the retirement system. In 2008, in its General Obligation Capital Improvement Bond Statement (November 4, 2008), the State of New Hampshire disclosed the following overall retirement system obligations (figures in millions):

Unfunded Pension liability $2,519.3 million
Additional asset decline, from 6/30/2008 to 10/24/2008 1,430.0
Postemployment Health Benefit liability 494.7
Other Postemployment Benefits liability 2,559.5
Judicial Retirement System liability 4.3

TOTAL $7,007.8 million

Tuesday, May 5, 2009

Will Summer School at Newport Schools Improve Student Performance?

In the past has summer school improved Newport student performance? How much will summer school cost Newport taxpayers? If summer school has not shown to improve student performance why continue the program? Will testing be done at the beginning and end of summer school to evaluate program effectiveness? If the program is not effective will Newport terminate said program? I can guarantee one thing Newport Teachers will have more taxpayer dollars in their pocketbooks at the completion of the summer school program.

In a prior post I revealed how summer school unless implemented correctly will not improve student performance. I suggest Newport schools test students at the beginning and at the end of the summer school program if no student performance has been achieved than the teachers are not paid and Newport taxpayer dollars will not have been wasted. If the schools are so confident that this summer school program is so effective they will have no problem accepting this challenge, if not don't waste Newport Taxpayers hard earned dollars.

Spelling and grammar errors as well as typos are left as an exercise for my readers.

A story about the Newport Summer School program appears in the Eagle Times.

Monday, May 4, 2009

New Link and Great Site

I ran across an excellent BLOG titled Wealth is not the Problem, with a subheading of "Poverty is the problem. Wealth is the solution." The BLOG site is now on my must read list, the site has a plethora of great book recommendations in both economics and "climate change" that I will add to my reading list.


Quote of the Day - Regarding Climate Change and the Left "You can't just look at correlations, you have to look at causations -- what order things happen in, what happens first, what happens next, what causes what. In the earth-sun system, the sun dominates the earth. The sun is pouring energy into every square meter of half the earth's surface 24/7. 0.1% changes in energy received over long periods of time are very significant to the overall temperature of the earth. Human activities pale in comparison.

People who want to globally control greenhouse gases basically want to globally control energy production/usage, and when you control that, you basically control all of human activity, which is the ultimate goal of these people. They want to take control away from corporations and capitalists and keep it for themselves, and implement central planning. This is why the left has politicized the science and made it their issue. Study the data for yourself -- don't just accept the conclusions someone else has reached for you." - Joel W. Storckman

Sunday, May 3, 2009

Capitalism VS Socialism

"All economic systems are based on greed. Capitalism is based on greed of the productive; Socialism is based on greed of the non-productive. What type of person would you prefer to thrive in our country?" Jim Peschke


Consolidation of Schools

While surfing through New Hampshire Newspapers online I ran across an article on the CV Spectator titled Board to proceed with consolidation plans. The story got me thinking about "Big Public Ed", SAU 43, the Newport School district and our own district here in Croydon. Here are some random thoughts on the four items I just listed.

Despite their denial "Big Ed" in general in public schools promotes some ideas that are counter productive to their existence. Through the promotion of a homosexual agenda, women's rights, abortion and birth control they reduce the number of children in the world which reduces the students they need to keep their schools running. Than they wonder why enrollment keeps dropping or remains flat. Now I am not making judgement on any of the above just making an observation.

Marilyn Brannigan is the Superintendent of SAU 43 I have read the statutes regarding her duties. Those duties do not include meddling in the Croydon's citizens and taxpayers decision as to what to do with the area agreement once it expires. If she and the educators at Newport would spend as much time trying to educate the students of Newport as they are trying to merge Newport and Croydon into one district the students could achieve so much more academically. Croydon is a separate district from Newport we are not just another school within the Newport school system. Stop worrying about job preservation and start educating your students and Croydon's students.

The merger of Newport and Croydon into one school district would be very bad for Croydon residents and taxpayers we as voters would carry less weight when it comes to controlling education costs. The bigger the district the harder it is to control costs.

Spelling and grammar errors as well as typos are left as an exercise for my readers.