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12 minutes ago.
by Ohwiseone
rocker
#1

Daily breaking news and news the liberal media doesn't want you to know, won't report, or just daily news issues.

Americans for many years have had to rely on left leaning biased news reporting from liberal media such as NBC, ABC, and CBS and the New York Times. As most of these outlets struggle to remain on the air and in print, the new media is flourishing and people are hearing both sides of the issues. This forum will provide people with a place to discuss daily news issues of any kind or discuss articles not printed or aired by the liberal news outlets.

 
 

Member Comments

luvthesouth

Munster, do you even bother to read? who are the people that you claimed in your original statement that caused the problem? would that be the taxpayers????? i went back and read what you posted. never once did you mention the taxpayer or the state sanctioned bond managers. nope according to you it was the profiteering stockbrokers that hoodwinked those innocent and "stupid" pensioners. you have got to realize that just because government bows to the labor unions in exchange for their continued reign of fiscal terror does not mean they can continue to squeeze the taxpayers forever. at some point the funds will dry up and you are left with what Stockton has realized. if asked most people, when given the choice, would say they had rather eat with their money than fund the next pie-in-the-sky dream of a politician.

Posted 532 days ago.

luvthesouth

scrapile, the safest way to issue municipal bonds is through direct private investment with the bonds being backed by the governments ability to generate revenue to cover the maturity of the bond. it could be argued that the greed exhibited by CALPers caused the pension bonds to be caught with their pants down so to speak. munster was correct in that if you gamble, you have to be ready to lose....and lose they did.

Posted 532 days ago.

luvthesouth

*somehow DO NOT fully grasp when to contract.

Posted 532 days ago.

luvthesouth

will be at-risk throughout the process. Public safety represents 80%, or almost $160 million, of the city’s nearly $200 million annual budget.

munster...take a few moments to compare your reason verses the three primary reasons. there is a vast difference between the two. in addition look into CALpers and it's board members who oversee and managed the pension bonds. the city like many government entities do very well at expansion but somehow fully grasp when to contract. that is why labor and long-term contracts are devastating when the governments get in financial trouble. i will not bother to post this in duplicate since you seemed to be courteous enough not do it either.

Posted 532 days ago.

luvthesouth

including pensions, are also rising steadily. The city now faces more than $800 million in unfunded liabilities for pensions and OPEB.

3. An ill-timed bond offering. In 2007 the city sought to lower it’s pension costs, so policymakers undertook a bond offering to lower interest payments on roughly $125 million of its pension obligation. The proceeds of these pension obligation bonds were given to the California Public Employees’ Retirement System (CalPERS) to manage. California Common Sense found that CalPERS was overexposed to the real estate and stock markets, so it was unable to meet the expected returns. The original pension obligation bond money is now worth under $100 million while the city owes $248 million.

Increased debt payments, combined with multiple years of negative net annual activity, ultimately pushed Stockton over the edge. While bankruptcy will sort out the details of the city’s restructuring, it’s safe to say that employee services (namely police and fire) wi

Posted 532 days ago.

luvthesouth

Times reports that state mediation law requires assigning blame in cases of bankruptcy, which will determine whether this was an honest mistake or if there was corruption at play.) This reported optimism led to breakneck pace spending on various redevelopment initiatives. The city sold $129 million in bonds to fund rehabilitating the Philmathean building’s rehabilitation, the downtown marina and waterfront’s development and the Hotel Stockton’s renovation. California Common Sense found that the city also renegotiated generous compensation for city employees, when employee services compose approximately three fourths of the city’s almost $200 million budget. For example, city employees receive a guaranteed salary increase from 2.5-7%, depending on General Fund revenue growth—even if the General Fund shrinks from the previous year. Meanwhile employee healthcare costs are also rising, growing at a rate of almost 10 percent over the past decade. Other post-employment benefits (OPEB), incl

Posted 532 days ago.

luvthesouth

current as of june 27, 2012

1. The housing and financial collapses. The housing bust decimated Stockton’s housing prices, and so went the city’s property tax (and related) revenues. Housing prices plunged from nearly $400,000 in median home prices in 2006, down to $110,000 in 2009 (where median prices were in 2000 before the bubble.) Meanwhile the city has the second highest rate of foreclosures in the country. Revenues from related areas, such as: sales taxes, utility user’s taxes and housing permit fees also plunged. The city burned through emergency cash funds and took efforts to rein in spending that weren’t enough. For example, they issued a hiring freeze for open positions in May 2008 and cut the general fund by $90 million in the last three years. Despite those efforts they continued to run budget deficits.

2. Excessive optimism and unsustainable compensation promises. City policymakers appear to have mistaken the real estate bubble for real growth. (The Los Angeles Time

Posted 532 days ago.

scrappile

Fact Check on Public Employees' Pensions****seiu****/.../publicservices/fact-check-on-public-sector-pe...Cached - SimilarShare Shared on Google+. View the post. You +1'd this publicly. Undo Are taxpayers the ones who foot the bill for public workers' pensions? ... viable for 70 years and were on solid financial ground until the stock market crash. ... investors, pension funds experienced investment losses during the market downturn.

Posted 533 days ago.

scrappile

Pensions do so well that most of the pension dollars (in California for example, 75 cents of every dollar) paid to teachers, firefighters, and school employees comes from investment earnings, not contributions by government.

Posted 533 days ago.

luvthesouth

Munster, you are hilarious...yep it was those dumb hayseed pension and city adminstrators that fell for those slick-talkin' city folk with their greased back hair, gold tooth and polished shoes. do your homework before you utter such nonsense.

Posted 533 days ago.

scrappile

EGG ON GOOGLE'S FACE?Site's Doodle Passes Over Jesus for Cesar Chavez

foxnews.mobi Google celebrates Cesar Chavez, ... Among those outraged is also a faction who believe the labor rights activist whose work was rooted in Christian ... ****salon****/2013/03/31/google_?celebrates_cesar_chavez ; SOUR GRAPES perhaps!

Posted 534 days ago.

moderation

'their' - to correct. maybe I wil only receive half a ding.

Posted 534 days ago.

moderation

munster-Do you recall the legislation that forbade any US company from conducting business with Iraq? I think it came out of the GHWB era. Halliburton was fined( had there grubby paws slapped), that's all.

Posted 534 days ago.

scrappile

Top 10 Facts YOU Should Know About Monsanto No GMO Labeling Laws in the USA! Lack of Adequate FDA / USDA Safety Testing Monsanto Puts Small Farmers out of Business Farmer Suicides After GMO Crop Failures Monsanto Products Pollute the Developing World 500,000 Agent Orange Babies Monsanto Blocking Government Regulations Monsanto Guilty of False Advertising & Scientific FRAUD Consumers Reject Bovine Growth Hormone rBGH in Milk GMO Crops Do NOT Increase Yields Monsanto Controls U.S. Soy Market Monsanto's GMO Foods Cause NEW Food Allergies

Posted 535 days ago.

scrappile

bestmeal.info/monsanto/facts.shtmlCachedShare Shared on Google+. View the post. You +1'd this publicly. Undo Foods containing GMOs don't have to be labeled in the USA. ... Human studies show how genetically modified (GM) food can leave material behind inside us, .... Public Officials Formerly EMPLOYED by Monsanto ... he left to work for a law firm on gaining FDA approval of Monsanto's artificial growth hormone in the 1980s.

Posted 535 days ago.

BeRight

I agree with universal checks. So let’s move on. Universal checks will prevent felons and other previous lawbreakers from getting guns but we currently do not prosecute all attempts by these folks from trying to by a gun which is against the law. Why is that? I don’t know.

Universal background checks will make you feel good but until the Gov’t complies a searchable list of the diagnosed mentally ill, schizophrenics, bipolar etc, (illnesses you can have and pass a background check) you will be missing the on the large population who are most likely to commit the crimes that we find so disgusting. You don’t see anyone rushing this idea to the forefront because the ACLU will fight this as a privacy issue.

Posted 536 days ago.

BeRight

If we cut funding for Big Bird, you can keep every control tower in the USA fully staffed. So do you want to keep Big Bird or Air Traffic Control and airline safety?

Posted 541 days ago.

BeRight

Paris police used tear gas and batons to fight crowds who pushed their way onto the landmark Champs-Elysees avenue and toward the presidential palace as part of a huge protest against a draft law allowing same-sex couples to marry and adopt children. Hundreds of thousands of people — conservative activists, schoolchildren with their parents, retirees, priests — converged on the capital Sunday in a last-ditch bid to stop the bill, many bused in from the French provinces.

Posted 541 days ago.

scrappile

In 1983 50 corporations controlled the media, now that is down to 6, and with new FCC regs., it may get even more monopolized, liberal media bias, pffft, corporate media bias.

One other tidbit, Fox sued the State of Florida, so they would not have to be factual, kinda takes away their credibility, yes.

Posted 542 days ago.

moderation

Rupert who?

Posted 542 days ago.
 
 
 
 

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