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Paul Ryan and the Republicans Are Frauds

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So Ryan is coming out with his proposal to eliminate Medicare and Medicaid. The details are sketchy at this point, and I’m not someone to deny that something has to be done and thus dismiss a proposal out of hand. Nor am I a Democrat looking for partisan advantage, or someone unconcerned with the deficit or the cost of government.

But I already know Paul Ryan and the Republicans are a fraud because no sacrifices will be imposed, and no changes will be required, for those age 55 and older. Which means those born in 1956 or earlier. Which means means those who were 17 in 1973, the year wages peaked for most American workers. The richest generations in American history, the first to leave those coming after worse off in the private sector, the ones that created all those deficits and debts and unfunded pension obligations in the public sector, the ones who wanted more senior spending and less in taxes, Generation Greed, gives back nothing. And there is a barely an acknowledgement of what this means in a moral sense. The plan is for the distinction between those under and over 55 never to be acknowledged, discussed and justified. With a help of the same media that is run by the same generation as government — and even the Tea Party. So entitled is Generation Greed that it is demands not only to get more benefits at the expense of those coming after, but also to have this hidden so they don’t feel bad about it. I’ll bet they’ll even say they are “doing it for the children.”

The Last Honest Man in Finance and the Expected Rate of Return

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You may not have chosen to believe me, when I pointed out that the retroactive pension enhancements for public employees, particularly for NYC teachers, would destroy public services, particularly the NYC schools, because so much more money would have to be spent on the pension plans and not the classroom. But now we have independent confirmation from both an independent actuary and the Center for Retirement Research at Boston College that the NYC Teacher pension plan is one of the handful of most desperately underfunded major pension plans in the country. Two sources with two points of view, neither of which is right wing anti-union anti-worker although that is the shrill excuse the unions are making.

And you may not have chosen to believe me when I showed that as a result of the pillaging of corporations by those who run them, lower interest rates, and lower inflation, the expected future rate of returns on pension assets is much lower than most public employee pension funds assume. But would you believe John C. Bogle, founder of investment giant Vanguard Funds and the last honest man in finance? I certainly have, which is why I haven’t believe the BS Wall Street has been putting out for 15 years.

The Gateway (Nettie Mayersohn Post-Mortem Edition) [Process Information Has Been Added]

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Though I've sometimes had problems with Nettie Mayersohn’s record, her story is one of a kind.

In 1982, as a female leader, she defied her Co-Leader Donnie Manes, who was then at the height of his power as both Broough Preisdent and Queens democratic boss, and got their local club to dump Manes' handpicked Assemblyman (and virtually lock Donnie out for the summer), and then she cleaned his clock in the primary.

As an Assemblywoman Mayersohn continued her record of not going with the flow, often in ways that annoyed her conference and her leadership.

Indian Point

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My home is within 20 miles of the Indian Point nuclear reactors well within the 50 mile exclusion zone advised by the United States for the destroyed Japanese reactors.

A friend of mine told me Indian Point was perfectly safe. He lives on Long Island outside the 50 mile zone. I’m the one who loses his home, health and life in the event of a meltdown.

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