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Take from the 99%, never the 1%. from Bloomberg: The Illinois House of Representatives approved a bill designed to repair the nation’s worst-funded pension system by raising contribution levels for state employees and delaying the retirement age. The measure, approved today 62 to 51 in the Democrat- dominated chamber, faces an uncertain future in the Senate, which is preparing its own approach to resolving a $97 billion liability. With annual retirement costs projected [...] http://www.twitter.com/FOREXcom http://www.twitter.com/zerohedge Lansing — One day after being sued over a controversial ballot box citizenship question, Secretary of State Ruth Johnson said Tuesday there are an estimated 4,000 noncitizens on Michigan’s voter rolls. The estimate is based on the state’s access to citizenship information for one-fifth of the population, Johnson said, adding the federal government won’t give her access to more citizenship data. Johnson said the results of a “very tedious” analysis of 58,000 driver’s [...] via google translate: Comes the latest economic package of Spain. Over two and a half years will be cut about 65 billion euros in public spending. Freeze the thirteenth state employees, the increased taxes, reduced by 20% subsidies to political parties here, the main measures. And adding other last financial year, you get to snipping for 123 billion euros. But according to HSBC even this be enough to avoid the request for a bailout total [...] Gov. Pat Quinn today approved legislation requiring thousands of retired state employees to chip in on the costs of health care insurance that many of them get for little or nothing. The law attempts to rein in the state’s rising costs but also seeks to share the expense with the 78,000 retirees who pay no premiums for their insurance now. The Quinn administration will set premiums each year for the group health program, which [...] Syria is using a new currency printed in Russia to pay its soaring deficit, reports Suleiman Al-Khalidi of Reuters.
Four Damascus-based bankers told Reuters that the new cash has entered circulation because international sanctions have derailed oil exports and other government revenues. Consequently, the central bank has exceeded borrowing limits from public banks while private banks are reluctant to buy government bonds. The government’s biggest priority is paying the salaries of over 2 million state employees [...] From Bloomberg: California Governor Jerry Brown proposed a four-day workweek to reduce pay for state employees and $8.3 billion of other cuts, mostly in welfare and medical care for the poor, to help close a $15.7 billion budget deficit. Trimming the standard week would be the equivalent of a 5 percent pay cut, saving $400 million a year, Brown said today in revising his budget for the year beginning July 1. Health care for the poor would take [...] Following more than two hours of emotional debate, the Republican-controlled Kansas House of Representatives passed a sweeping 69-page anti-abortion bill. The passage sets the stage for Kansas topotentially enact one of the most restrictive abortion laws in the United States, coming a year after the state passed measures severely limiting the types of buildings that could house abortion clinics. The bill now heads to the state Senate for consideration. Gov. Sam Brownback (R) [...] A federal judge declared Gov. Rick Scott’s order requiring drug testing for some 85,000 state workers unconstitutional Thursday, saying the governor showed no evidence of a drug problem at the agencies to warrant suspicionless testing. The ruling marks the second blow to Scott’s proposals regarding drug testing. The governor also suspended a state law he supported that required drug testing for welfare recipients last year after a lawsuit [...] (Reuters) – More than half of local and state employees continue to work under pay freezes, while others are accelerating theirretirements or facing the prospects of layoffs as the effects of the recession linger on the public sector, according to a survey released on Wednesday. The survey of members of the International Public Management Association for Human Resources and the National Association of State Personnel Executives, found public employees also worry about their image. Some 73 percent of [...] Press TV In the Greek capital Athens, state employees have staged another protest against tough austerity measures imposed by the government. Employees of the Development Ministry occupied the building in protest against the closure of public organizations. Workers with state mental health clinics and day cares also held separate rallies outside the country’s Health Ministry. The institutions the workers are employed at are expected to be closed down as part of [...] http://xfinity.comcast.net/articles/news-national/20111219/US.Broken.Budgets.By.The.Numbers/ State governments across the country have cut more than 80,000 jobs since the beginning of the recession, reflecting steep drops in tax revenue and providing a drag on the economies in many parts of the country, the Associated Press has found. Data collected by AP reporters in all 50 states show the number of government employees has declined along with per-capita general fund spending. The national average of state employees per [...] by Tim Wetzel NASHVILLE, Tenn. – Nearly 1,000 Tennessee state employees have such low salaries that they must rely on government assistance to put food on their tables. Robert O’Connell with the Tennessee State Employee Association said they were shocked when they discovered the number of state workers on food stamps. “We were floored by the number of people,” said O’Connell. “I don’t think Tennesseans are going to be [...] Gov. Hickenlooper statement on Occupy Denver http://www.colorado.gov/cs/Satellite?c=Page&childpagename=GovHickenlooper%2FCBONLayout&cid=1251607569668&pagename=CBONWrapper
DENVER — Friday, Oct. 14. 2011 — Gov. John Hickenlooper today released this statement about the events last night in Lincoln Park in downtown Denver:
“The First Amendment and the rights it guarantees for free speech and assembly are critical to our democracy. These rights are what set the United States above all other nations. We also have rules and laws that must [...] (Reuters) – New claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, pointing to a labor market that is struggling to regain momentum after job growth faltered in the last two months. Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 418,000, the Labor Department said. Economists polled by Reuters had forecast claims rising to 410,000. The [...] Indiana Gov. Mitch Daniels By Ben Wolfgang - The Washington Times As Washington stares at rising national debt and projected deficits for years to come, many states are faced with the opposite problem: whether to spend their budget surpluses and, if so, on what. At least a dozen states ended fiscal 2011 with surpluses. Indiana reported one of the largest, with an extra $1.2 billion in its accounts. Gov. Mitch [...] ST. PAUL, Minn. (FOX 9) – Minnesota Gov. Mark Dayton sent a letter Thursday to House Speaker Kurt Zellers and Senate Majority Leader Amy Koch, saying he “reluctantly” agrees to accept the Republican budget proposal from June 30. Dayton said accepting the offer would bridge a $1.4 billion gap between him and the Republican leadership. The governor says he has “serious reservations” about the GOP plan, [...] For 7/11 news:
1) Italian, Spanish, Portuguese Bonds Slump as Contagion Spreads “The spreads investors demand to hold Italian, Portuguese and Spanish debt over bunds widened to euro-era records. The European Central Bank is seeking to double a fund to 1.5 trillion euros ($2.14 trillion) to cover an Italian crisis, Die Welt reported yesterday, citing senior central bankers.” …………1A) Italian, Spanish Yield Spreads At Record Wides
China Ratings Agency Puts Italy [...] The chief psychiatrist for California’s overcrowded prison system was paid $838,706 in 2010, more than any other state employee that year, payroll figures released today show. The doctor, whose name wasn’t released, had a salary range of $261,408 to $308,640, according to data released today by California Controller John Chiang. The total compensation was raised by bonuses or payout of unused vacation time, according to the controller’s office. The figures show that [...] MINNEAPOLIS — Minnesota’s state government began a broad shut down on Friday going into the July 4 holiday after Democratic Governor Mark Dayton and Republican legislative leaders failed to reach a budget deal. Parts of the government had already begun to shut down on Thursday ahead of the midnight budget deadline, including some websites and dozens of highway rest stops on one of the biggest travel [...] TALLAHASSEE — Pink slips are going out to more than 1,600 state workers by Friday, the human toll of the austere spending plan approved by lawmakers and Gov. Rick Scott this spring. Facing a nearly $4 billion budget deficit, the legislature cut thousands of jobs, froze hiring and forced state workers to contribute 3 percent of their salaries to their pension plans in the 2011-2012 budget [...] Minnesota Gov. Mark Dayton is preparing for a state government shutdown. NEW YORK (CNNMoney) — Time is running out for Minnesota’s parks, highway rest stops and public universities, not to mention 36,000 state employees. If Gov. Mark Dayton and lawmakers don’t agree on a budget by June 30, the state government is expected to shut down. The state moved one step closer to this outcome on [...] Governor Andrew Cuomo is tackling New York state’s spending by limiting public employee pensions and cutting almost 10,000 jobs. According to the New York Times, Cuomo says the state can no longer afford to provide the “generous” benefits given to public workers in the past. The governor also targets the rampant benefit padding where workers step up their overtime the final year of employment to beef up their [...] Rhode Island’s retirement system needs a swift and dramatic overhaul to save the state from collapsing under its massive pension debt, according to a new report from state treasurer Gina Raimondo. The report, out yesterday, suggests several radical solutions to the state’s pension woes including, reducing benefits, suspending cost-of-living adjustments, raising the retirement age, and implementing a new “hybrid” retirement system that would couple a smaller [...] INDIANAPOLIS – Indiana Gov. Mitch Daniels says he thinks he could beat President Barack Obama in 2012. He just hasn’t decided whether he’ll try. The Republican governor said Tuesday his chances of beating Obama would be “quite good,” but that’s not factoring into his deliberations on a White House run. He spoke to reporters after giving public service awards to state employees. Daniels’ comments came a week [...] Farid A. Khavari (Ph.D. Economist)
In recent years, we often hear from politicians, that, if elected, they would run government like a business! This may apply to some extent to few aspects of the budget when costs here and there could be cut without any negative effect. For instance, cost of office supplies could be reduced by changing from an expensive vendor to a less expensive one, or getting a better [...] by SWRichmond I just found this: 20 million state and local government workers in U.S. today: http://www.rdwolff.com/content/public-sector-squeeze “Figure 1 shows that there are about 20 million state and local workers in America today: 14.3 million local and 5.2 million state employees.” Article date 1 Feb 2011. And now I found this: http://www.washingtontimes.com/news/2010/feb/02/burgeoning-federal-payro… “Largest-ever federal payroll to hit 2.15 million” So now we got a number: 22 million plus government employees in the U.S.
From [...] (Interviewed by Louis James, Editor, International Speculator) L: Doug, a couple weeks ago we talked about mass riots spreading beyond the Middle East, and you were right. Yemen, Bahrain, and Libya – hundreds reported dead in Tripoli. But I see on Google News that some very brave individuals have organized protests in Moscow and Beijing. And now we have tens of thousands protesting in Madison, Wisconsin, citing [...] |
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