OBAMA’S MEASURED RESPONSE ON IRAN AND THE PENSION CRISIS
Two unlike subjects but don’t worry, they are the subjects of two different articles.
First, my weekly PJ Media column is up and you’re going to love it. I will give you the last graf so you will be forced to read the whole thing:
But when the stakes are this high — not just for the Iranian demonstrators but for the U.S., the Israelis, the region, and the world — I am willing to cut the president a little slack and recognize that while we all want him to say what is in our hearts about freedom and justice, his response so far has been about as good as we can expect.
The piece is self explantory. I will have no further comment.
Now for a piece of good news. I have been hired on as a weekly columnist at the excellent site of an excellent organization.
The American Issues Project will feature a little different material from me. Instead of the usual political blather you are used to, I will put on my wonk cap and concentrate on delving into many of the issues facing us today.
A sample from my first effort, “Public Pensions, Public Crisis:”
Trillions for banks, hundreds of billions for car companies and other poor little rich corporations — one wonders when we taxpayers are going to stop being so generous with our hard-earned coin. I am sure these giant corporations are overflowing with gratitude for the beneficence we have bestowed upon them, no doubt dreaming up ways as I write this that they can show their appreciation for our generosity.
Don’t hold your breath, though.
Bailing out failed corporations is one thing. Politicians are famous for being generous with money not their own. But the money in taxes we and generations of Americans yet unborn will be forced to part with as a result of the foolishness, chicanery, and procrastination of our state and local officials who deal with public pension funds will probably make us pine for the days when the Federal Reserve only had to print a few hundred billion or so to enrich a few bankers.
In truth, the “Time Bomb” of underfunded, overly generous public pensions, which many observers have been predicting for years, appears ready to blow up in our faces. Recent losses in the stock market have devastated these funds to the tune of $2 trillion, monies for which we taxpayers are still responsible. And considering that more than half of these plans were underfunded to begin with, we are faced with a potential tsunami of pension fund failures that, by law, taxpayers will be forced to make right.
Read and enjoy.