The New York Teamsters Road Carriers Local 707 Pension Fund has won the unfortunate award for “First Pension to Officially Run Out of Money.”  According to the New York Daily News, and a host of angry former truck drivers who’ve had their pension benefits slashed, the Pension Benefit Guaranty Corp. (PBGC) has officially been forced to step in and take over payments to retirees of the Local 707, albeit at a much lower rate. Teamsters Local 707’s pension fund is the first to officially bottom out financially — which happened this month.   “I had a union job for 30 years,” Chmil said. “We hadRead More →

Humans beings appear to be hardwired to have a sense of fairness. This is puzzling from an evolutionary perspective, which you would have thought would mean we were predisposed to seek advantage for ourselves and our families wherever possible. But in fact a sense of fairness is important for humans to be able to help each other. Human cooperation is based on reciprocal altruism – we help people because they’ve either helped us in the past or they may help us in the future. This form of cooperation is only possible when individuals are able to keep track of other individuals’ efforts and payoffs –Read More →

Foreign and Defense Policy, Middle East, Terrorism Back in September, I testified before the House Financial Services Committee on the allegation that the Obama administration had paid Iran a ransom—at the time it was believed to be $400 million but it was later revealed that the figure was more than three times that amount—in cash for the release of American hostages held by Iran. At the hearing, it is now clear that State Department officials lied outright to the committee. But, lest there be any question about how the Iranian government perceived the payment received from the United States, Hossein Nejat, deputy Intelligence Director ofRead More →

Democrats Pick A Racist To Head DNC Perez Dropped Voter Intimidation Charges Against Black Panthers Who Brought Weapons to a Polling Place…Perez Doesn’t Think White People Are Protected Under the Voting Rights Act An investigation into the Civil Rights Division by the Department of Justice’s inspector general revealed extreme views held by Perez. He told investigators that white people were not entitled to protection under the Voting Rights Act. Perez revealed to investigators that he saw the Voting Rights Act as only providing protection to specific, historic minorities, not all citizens:Read More →

Submitted by Daniel Mitchell via The Foundation for Economic Education, Early last month, in a column on my hopes and fears for 2017, I fretted about fiscal chaos in Italy leading to default and bailouts. Simply stated, I fear that Italy, along with certain other “Club Med” nations, has passed the point of no return in terms of big government, demographic decline, and societal dependency. And this means that, sooner or later, the proverbial wheels are going to fall off the bus. And it might be sooner. On Shaky Ground I don’t always agree with his policy recommendations, but I regularly read Desmond Lachman ofRead More →

  C.E. Dyer reports that Climate Central recently ran an article about “overwhelmingly hot” 2016 temperatures, which the Washington Post greedily lapped up to support their man-made climate change agenda. There’s one big hitch, however, and it lies in evidence that this so-called climate change data has been tampered with to fit the agenda. Take a look at this excerpt of a post from Climate Central: According to Climate Central: “Climate change has caused the U.S. average temperature to increase about 1.5° F since the 1880s.” The Deplorable Climate Science Blog broke down why this is incorrect: The first problem with their analysis is that theRead More →

The State Senate of Tennessee has laid the legislative groundwork for something that hasn’t been done in the United States of America since the Constitutional Convention of 1787 in Philadelphia.  With a vote of 27-3, the Tennessee Senate has voted to call a “convention of the states” in order to draft and pass an amendment to the Constitution that would require balanced budgets to be passed every year. For those who are little fuzzy on their high school U.S. history knowledge, the Tennessean explains that the U.S. Constitution can be amended in two ways.  The first would require a two-thirds majority vote in both chambersRead More →

For the past several months we’ve warned that the taxpayers of the City of Dallas, despite all of the tough talk coming out of their elected city council members, would ultimately be forced to bail out the failing Dallas Police and Fire Pension (DPFP) system.  And just last night the DPFP board voted 9-0 to approve a plan that would do just that. The plan to save the DPFP was proposed by Dan Flynn, chair of the pensions committee in the Texas House of Representatives, and calls for Dallas taxpayers to contribute 34.5% of police and firefighter salaries each year into the failing pension system,Read More →

This is How States Will Take Your Pension All emphasis ours written by Soren K and MarketSlant  with contributions by Vince Lanci of Echobay.com Are you watching closely CT, IL, NJ etc? The table is now set for you to have your pension violated for the greater good. Are you paying attention? Someone is deciding that you must decrease your standard of living on behalf of someone else because the state of CT in its infinite ignorance messed up. Will this proposal go thru? Probably not. But this is just the first salvo. Government bureaucrats always seek to make nice with everyone. Therefore a “compromise” will follow. LeadersRead More →

Thousands of WordPress Sites Hacked Using Recently Disclosed Vulnerability Tuesday, February 07, 2017 Swati Khandelwal  21.4K  3037  1158  26.1K Last week, we reported about a critical zero-day flaw in WordPress that was silently patched by the company before hackers have had their hands on the nasty bug to exploit millions of WordPress websites. To ensure the security of millions of websites and its users, WordPress delayed the vulnerability disclosure for over a week and worked closely with security companies and hosts to install the patch, ensuring that the issue was dealt with in short order before it became public. But even after the company’s effortRead More →