Ohio Sunday Papers Take on State’s Public Pension Systems
Ohio Newspapers’ Public Pension Systems Project
- Many top educators double dip the system – Akron Beacon Journal
- School chiefs get better deal than teachers – Akron Beacon Journal
- Double dipping saps pension funds as school superintendents cash in – Toledo Blade/Akron Beacon Journal
- Pension rules encourage retire-rehire deals – Dayton Daily News
- Double dipping state and local employees collect paycheck & pension – The Plain Dealer
- Ohio taxpayers pay for state workers’ pensions but it’s all cloaked in secrecy – Akron Beacon Journal
- Pensions lobby has power at the Statehouse – Toledo Blade
My A.M. News Break – June 15
BP Covering Up Wildlife Deaths Due to Spill?
from Countdown with Keith Olbermann
Visit msnbc.com for breaking news, world news, and news about the economy
Finance, Markets, Economy
- Markets Pricing in ‘Paradigm Change’ – El-Arian – CNBC
- Best Buy profits don’t meet target - CNBC
- Data and BP top market agenda - MarketWatch
Other Stuff
- Efforts to control gulf spill described as ‘chaotic’ - New York Times
- Setbacks cloud U.S. plan to exit Afghanistan – New York Times
- Banks Yielding on Volcker, Picking Other Fights – New York Times
- Kasich’s tax returns flip flop - Columbus Dispatch
- Editorial: Your tax dollars at work - Columbus Dispatch
- U.S. man arrested in Pakistan for Hunting bin-Laden – Agence France Presse
- More Alvin Greene - Washington Post
Localizing the Recession: Warren, Ohio
If you need a reminder of the impact of the financial crisis and recession on ordinary people, visit the Columbus Dispatch website today for the story on Warren, Ohio and its 30 year recession.
Once dominated by the steel and auto industries, Warren, located in Northeast Ohio near the state of Pennsylvania, is a microcosm of the fall of the manufacturing midwest.
When you think back to the quality of life enjoyed by many blue collar workers from the 1950s to the 1970s – and the quality of their American-made products – it opens the door of doubt on the efficacy of buying cheap crap from China.
Changes in the practices and ethics of the big businesses who employed America’s manufacturing workers had a lot to do with our demise here in the Midwest. But, if we are to solve the problems going forward, we need to realize that the unions have had their part in the fall.
- Unemployment Rate in Trumbull County, home of Warren = 14.2%
- Poverty Rate = 14.6%
Mexico Shows Gratitude to U.S. by Forcing Job Losses in Ohio
Does anyone else feel like we’re all getting AIG’d? Lately, it seems like every time Uncle Sam opens his wallet to help out some struggling member of the family, that member of the family forgets to say thank-you. Or, worse yet, it’s like catching a trusted friend or relative stealing from you to go out and get high.
From the Columbus Dispatch this morning:
For 1,400 employees of a Chillicothe paper mill, there couldn’t be a worse time to become caught up in an international trade fight.
The plant on S. Paint Street generates $338 million in annual sales of carbonless paper, a sizable chunk of which is bought by Mexican customers.
But just a couple of months after the economic slump sparked layoffs of about 50 people there, a new threat has emerged: a 10 percent tariff slapped on imports of U.S. carbonless paper by the government of Mexico. It’s retaliation for Congress’ shutting down a pilot program allowing Mexican trucks to operate in the United States.
The Dispatch further reports that the Mexican carbonless paper tariff is just one of many affecting about $2.4 billion in U.S. commercial activity with Mexico. Just last week, President Barack Obama talked about the $700 million in aid the U.S. is pledging to Mexico this year to help their central government in its fight against drug cartels.
When do we start attaching strings to the public’s money being invested in everything from bank bailouts to foreign countries? Also last week, the Obama Administration announced its support for an aid package to Pakistan that would send $1.5 billion a year there, each year for five years. The same week, we get more confirmation that the Pakistani military intelligence force, ISI, has been aiding and abetting the Taliban and al-Qaeda organizations we’ve been at war with for seven years.
This may sound like the rantings of a guy who wishes we weren’t investing public funds anywhere. Actually, I’m glad we’re amping up our efforts to help the Mexicans, their problems are spilling over into our country. I’m glad we’re willing to help a country like Pakistan, I just don’t want to see more good money go after bad. I want to see accountability and outcomes for the taxpayer money spent here and abroad. I don’t want to give a dime in aid to anyone, any entity or any country who will turn around and bite the hand that feeds. It’s that simple.
My hypersensitivity to government outlays for all manner of bailouts and aid is a direct result of the U.S. financial crisis. If you count “guarantees” made by the Federal Reserve, we are trillions of dollars down the rabbit hole with Wall Street and their ilk. In all of this economic mess can anyone point to one politician or captain of finance who has taken accountability?
If we’re not creating a new program to keep the well-heeled investors on Wall Street whole, we’re shoveling money at countries like Pakistan and Mexico who give us the back of their hand. This makes me sick as I read about U.S. factory workers getting pink slips.
