
update: thanks to everyone for your kind words and good thoughts about Maggie.
Jay Bullock's journal of politics, music, and education.
Here is what [Up Nort' candidate Reid] Ribble actually said, based on a longer video of the same statement posted on YouTube. We’ll highlight where the new words pick up.It is remarkable to consider that your application of the "pants on fire" label was not awarded to this very statement itself. For you see, Mr. Ribble--are you sure he's not a Muppet?--is spinning quite the tale about bankruptcy.
"Somehow we have to establish a phase-out of the current Social Security system to a new system. And that will have to happen over time. It could happen in a single generation."
Ribble goes on to discuss how the life expectancy of Americans has grown since Social Security was established in the 1930s, and its effect on the system.
"It has to change," Ribble said of Social Security. "It will bankrupt this country if it doesn’t change."
People like Jay who defend the system like to say that the government won't or can't default on those bonds. It certainly can. Congress could repudiate the bonds, although it likely won't. The problem - the one that Jay elides by saying that the trust fund "can pay" out benefits for a number of years - is what it would take to pay those benefits.Let's pretend for a second that the trust fund isn't really what is and instead is, like my mythical AmFam payments sitting in a safe. Every dollar spent from that trust fund would have been deficit spending (or higher taxes) over the last thirty years. If it was okay (or would have been) to deficit spend back then--on star wars, the war in Iraq, "ending welfare as we know it," whatever--why is it suddenly anathema to raise taxes or deficit spend to keep a promise we've made to our elders and poor? And it wouldn't take much: Social Security will continue to draw revenue that nearly meets the promised benefits for many years, bottoming out at between 75% and 80% of benefit levels. Small tweaks now--lifting the cap on taxable income, or redefining income to include more than just wages, or pushing the payroll tax up a smidge--would make future work to meet those promises much easier (either because you believe in the trust fund or because current deficits will be lower).
The trust fund can't just write a check. It must redeem those bonds, i.e., call in the government's IOU to itself. The government can't just write a check to honor the bonds because it doesn't have the money. It must either raise taxes or borrow more money. To the extent that this cannot be done, benefits must be reduced. Thus taxpayers who have paid "extra" as "we went" really have nothing to draw on. They must either forego benefits or impose even higher taxes on younger people.
My question [. . .] is... where is the choice with Social Security? Yes, Social Security doesn't deceive anyone... everyone does in fact know how it works... or at least should. But Social Security has one advantage that no privately run Ponzi Scheme has... there is no choice in whether or not you participate. I belong to an entire generation of people who truly believe that we will not get anything from Social Security. [ed: see! I told you!] I am planning my retirement on the idea that Social Security will not pay me one red cent. I have to. I know exactly how Social Security operates, and I can also see demographics and how population is changing. There simply won't be enough people to pay me once I rise to the top of the pyramid.For this, I defer to erstwhile Republican Charlie Crist, who makes a salient point: "There are other ways we can help fund it, by creating a pathway to citizenship. [. . . I]f we have those 11 to 14 million people productively participating in the American economy and paying the payroll taxes that would be attended to it, that would help Social Security." There is a labor force in this country willing and waiting to contribute to our financial health--and Nick's financial future--but the same forces scaring the pants off of you about the safety of Social Security are also busy scaring you about the Brown Menace because, you know, that too makes a good election issue. What's good for the country is bad for electoral fortunes.
Offering teachers incentives of up to $15,000 to improve student test scores produced no discernible difference in academic performance, according to a study released Tuesday, a result likely to reshape the debate about merit pay programs sprouting in D.C. schools and many others nationwide.I don't doubt the first part, that such incentives, especially when tied to things teachers see as unimportant, like test scores, are ineffective. That resonates as a billion percent true with me.
Much better at encompassing all the crazy is the Awl, which thoroughly skewers the man. If you read one thing today, make it this.Ron Johnson is one of the year's stranger Senate candidates (and in 2010, that's saying something). He's the far-right candidate who rails against government intervention in private industry, but has sought and received federal aid for his business enterprises. He thinks "sunspots" cause global warming, which doesn't make any sense. He's argued that China is better for businesses than the United States. He thinks Greenland has snow because of global cooling. At the height of the BP oil spill disaster, he said he'd sell his BP stock, just as soon as it was more profitable for him.
In China, death from overwork is so common, there's a word for it: guolaosi. But despite the fact that guolaosi kills over 600,000 Chinese workers a year, working conditions in China are improving. And consumers in the West can help prevent guolaosi deaths by demanding fairly-produced goods from China.For our sakes, lets hope Chairman Ron doesn't get to set economic policy for the US anytime soon.
Yan Li's family knows the meaning of guolaosi far too well. Li worked for a Foxconn factory in Southern China where he helped assemble components for iPads, Playstations, and mobile phones. He stood on the assembly line in one place, making the same tiny motion with his wrist all day. Sometimes, according to his family, his shifts would last for 24 hours. Sometimes up to 35 hours at a time. Li had no trade union, no group to represent his interests, and if he had tried to form one he'd probably have been imprisoned or killed. This went on until one day 27-year-old, otherwise healthy Li finished a particularly long shift and dropped dead.
Gualoisi is not uncommon in China. In fact, China Daily estimates that up to 600,000 workers a year die from overwork. That figure includes many workers like Li who are young and have no serious health problems before starting brutally strenuous jobs. It also includes workers who commit suicide to escape abusive work environments, which incidentally, happened to another worker at Li's factory the same night he died. These deaths occur at factories that make things all of us have in our home and use daily — cell phones, computers, car parts, etc. The factory where Li died might have made the computer I'm writing this story on, on the one you're using to read it. (via)
WI-GOV, D: A reminder--despite the certain groundswell of support between now and election day, I cannot accept your write-in votes for me. I appreciate the thought, but let's all try to settle for Tom Barrett, okay? I give him the nod over Tim John, who just will not have the resources to compete in a race that national Republicans will be targeting. I am not in love with Barrett, but he is our man and we will have to come to grips with that.There are a few other contested primary races out there that are just not enough on my radar or near enough me in geography for me to have an opinion. Feel free, though, to shill for your favorites in the comments below.
WI-GOV, R: Not my fight, and not that any of you likely to be voting on the other side of the page will listen, but if my opinion is worth anything, I recommend you Rs out there vote Mark Neumann. Why? Because Neumann is not bat-guano insane the way Scott Walker is. If we have to suffer under Republican rule again in this state, Neumann would at least try to hold things together. We have eight long, long years of evidence in Milwaukee County that Walker is not all that interested in good government. Plus, I try to live by this rule of thumb: Always vote against the guy Charlie Sykes is supporting.
[Edited also, to add: WI-LTGOV, D: I can't believe I forgot the one actually competitive state-wide Dem race! I'm voting for Spencer Coggs over Henry Sanders. Tom Nelson and James Schneider are also running.]
WI-SEN, R: [Edited to add: I will, of course, be voting Feingold next week and in November; the following is for my R friends.] Ron Johnson was inspired to run for office because Dick Morris said someone with a lot of money should run against Russ Feingold--Feingold, of course, being among the senators with the least personal wealth. And then Johnson started the whole thing with a lie about being a self-made man. Plus, you know, Charlie Sykes. So vote Dave Westlake!
WI-TREAS, D: Does it matter? I think I'm voting Dan Bohrod, just because I'm a sucker for a low-rent website.
WI-AG, D: Scott Hassett it is. Though in fairness I will note that Republican JB Van Hollen has not been the disaster I was afraid he would be. I mean, I knew he couldn't be as bad as Paul Bucher would have been, but aside from a few bad moves, like wanting to throw taxpayer dollars at the suit against the Affordable Care Act, he's mostly just done his job.
WI-7SD: There aren't a lot of exciting House, Assembly, or State Senate primaries, but the Chris Larson-Jeff Plale race on Milwaukee's east and south sides is a hummer. If you've been paying attention so far, you probably know where I'm coming down on this one, since Charlie Sykes has been defending Plale and attacking Larson. Look, Jeff's a nice enough guy, and generally his more-conservative positions don't end up hurting Dems too much. And I do appreciate that Plale was the only local elected official who came out to volunteer at my high school on GE Community Day. But his refusal to distance himself from slimeball Scott Jensen and some of the other characters supporting him is a real problem. Last time around I stayed out of this primary--and I'm glad I did, given the way things turned out--but this time I am actively urging a Chris Larson victory.
MKE-SHERIFF: Four years ago, I supported Republican Don Holt in his quest to unholster (Sykes-supported) Sheriff David Clarke after Vince Bobot failed to beat Clarke in the primary. This time around, Chris Moews is the one trying to beat Clarke in the primary, and he gets my vote hands-down.
President Barack Obama will announce on Monday a six-year infrastructure revamp plan with an initial investment of $50 billion to jump-start job creation, a white house official said. [. . .]$50b? That's a drop in the bucket. As I have noted before, the current recession has sucked an annual $1.2 trillion, with a T as in Trouble, out of the economy. The stimulus passed so far has amounted to a paltry $150 billion, with a B as in Baloney, annually. Even my readers who listen to Glenn Beck can do math well enough to know that $150b is a lot less than $1.2t, even if the decimals make it confusing.
With a jobless rate near 10 percent, Democrats are facing predicted losses in the November 2 congressional elections and the Obama administration is trying to convince voters that Democratic policies can lead the way out of the country's deepest recession in 70 years.
Failing schools would be required to sign a contract aimed at turning them around. In exchange for receiving more resources, school boards and administrators would have to select one of several models for improvement.Now, for contrast, here's a chunk of an article about current US education policy, under the Democratic appointee Arne Duncan, as applied in Wisconsin at the present moment:
In one model, administrators would be replaced; in another, administrators and half the staff would be replaced; in a third, the school would be closed and replaced with a charter school; and in another, the students would be sent to other schools.
At the persistently low-performing high schools, MPS must implement one of four turnaround measures to receive the money:Aside from the fact that one is in bullet-points and the other isn't, can you spot the difference? No? I couldn't either.
• Firing the principal and at least half the staff and re-opening with new staff.
• Allowing a charter management company or other educational management company to take over the school.
• Replacing the principal and taking other steps internally to improve how the school operates.
• Closing the school, and sending the children to higher-performing schools in the district.
In Milwaukee, Walker would lift the cap on the choice program, which allows taxpayer money to be used for private schools, including religious schools. The cap is now 22,000 students.There's the devilish detail: He is interested in driving more public dollars to prop up the financially challenged system of parochial schools and other fly-by-night voucher institutions. Got it. Keep Milwaukee's public schools in a death spiral and use tax dollars, shock-doctrine style, to enrich the private sector and his religious supporters.
The national economy isn’t escaping the gravitational pull of the Great Recession. None of the standard booster rockets are working...
That’s because the real problem has to do with the structure of the economy, not the business cycle. No booster rocket can work unless consumers are able, at some point, to keep the economy moving on their own. But consumers no longer have the purchasing power to buy the goods and services they produce as workers; for some time now, their means haven’t kept up with what the growing economy could and should have been able to provide them.
This crisis began decades ago when a new wave of technology — things like satellite communications, container ships, computers and eventually the Internet — made it cheaper for American employers to use low-wage labor abroad or labor-replacing software here at home than to continue paying the typical worker a middle-class wage...
But for years American families kept spending as if their incomes were keeping pace with overall economic growth. And their spending fueled continued growth. How did families manage this trick? First, women streamed into the paid work force...
Second, everyone put in more hours. What families didn’t receive in wage increases they made up for in work increases. By the mid-2000s, the typical male worker was putting in roughly 100 hours more each year than two decades before, and the typical female worker about 200 hours more.
When American families couldn’t squeeze any more income out of these two coping mechanisms, they embarked on a third: going ever deeper into debt... From 2002 to 2007, American households extracted $2.3 trillion from their homes.
Eventually, of course, the debt bubble burst — and with it, the last coping mechanism. Now we’re left to deal with the underlying problem that we’ve avoided for decades. Even if nearly everyone was employed, the vast middle class still wouldn’t have enough money to buy what the economy is capable of producing.
Where have all the economic gains gone? Mostly to the top... In the late 1970s, the richest 1 percent of American families took in about 9 percent of the nation’s total income; by 2007, the top 1 percent took in 23.5 percent of total income...
The rich spend a much smaller proportion of their incomes than the rest of us. So when they get a disproportionate share of total income, the economy is robbed of the demand it needs to keep growing and creating jobs.
What’s more, the rich don’t necessarily invest their earnings and savings in the American economy; they send them anywhere around the globe where they’ll summon the highest returns...
THE Great Depression and its aftermath demonstrate that there is only one way back to full recovery: through more widely shared prosperity. In the 1930s, the American economy was completely restructured. New Deal measures — Social Security, a 40-hour work week with time-and-a-half overtime, unemployment insurance, the right to form unions and bargain collectively, the minimum wage — leveled the playing field...
Policies that generate more widely shared prosperity lead to stronger and more sustainable economic growth — and that’s good for everyone. The rich are better off with a smaller percentage of a fast-growing economy than a larger share of an economy that’s barely moving. That’s the Labor Day lesson we learned decades ago; until we remember it again, we’ll be stuck in the Great Recession.
The Republican party released its attack on Barrett -- which including a drawing of Pelosi handing a bag of cash to Barrett -- based on statements by WTMJ-AM (620) Charlie Sykes and questions from reporters, said Andrew Welhouse, a spokesman for the Republican party.
"At this point it appears that the media report that I based it on was unreliable, so I will pull it back," Welhouse said of the release.
Of course, a lot of us don't see much to raise the eyebrows about a Pelosi-led fundraiser for Tom Barrett even if it were true. Also, the sorry episode also doesn't tell us anything we didn't already know about the integrity of the ex-reporter Sykes.