The increasingly vitriolic debate over whether or not to extend a payroll tax cut and jobless benefits for two months has dominated the news recently, but no one seems to be factoring in that the $33 billion-cost for the bill will actually be footed by United States homeowners, who are already struggling to make mortgage payments. While the Senate, the House of Representatives and the president lob accusations and demands back and forth across the aisle and across the capitol, there is little acknowledgement that even the unpopular two-month cut, which is nothing more than a stop-gap measure and, many argue, un-implementable anyway, is going to literally cost taxpayers an arm and a leg.
Archive for the ‘broke usa’ Category
I just saw a protestor screamjng, “Hands off my Medicare1″. OK I quess we can chalk that up to failures in our education system. At least FDR hid the Social Security Fraud as a type of insurance product in which your “contribution” was used to fund your retirement. Until they had to tell the truth and admit before the Supreme Court that it was just another tax (Heverling v. Davis 1937) and did not convey rights to the taxpayer.
Medicare was never sold to the public that way. It was promoted as our obligation to the elderly and funded by a payroll tax. Thus it became a direct transfer from the working to the retired. I would suggest that Medicare taxes should be sequestered in a separate fund that funds only Medicare . If it runs low, adjust benefits or tax level. It will be highly inteesting to see how much the children of the “Baby Boomer” will be willing to pay for their parents.
Hey maybe we can get a bunch of illegal aliens paying into the system to balance it oyt. /sarc
I saw this on Hot Air:
Underpants Gnomes debt plan:
Phase 1: Defeat Boehner;
Phase 2: ???;
Phase 3: Cut, Cap, Balance!
What they seem to be advocating seems to be:
Establishmentarian Gnomes debt plan:
Phase 1: Surrender;
Phase 2: ???;
Phase 3: Victory!
I’ve been mentored by high school and colege athletic coaches (multiple sports), Vietnam era Drill Sergeants (they deserve capitalization), Special Forces Officers (them,too) and have even been a TAC NCO at Officer Candidate School and I can assure you that victory is not a result of surrender!
FIGHT YOU BASTARDS! Or we’ll find someone who will! In the streets, if necessary. The Estaplishmentarian Rethuglicans don’t have enough guts in their entire caucus to field a Lingerie Football Team! Actually probably not a grade school chess team, the ladies of the LFL seem to be quite a bit more aggressive and gutsy. Maybe Patton could slap some courage into these sniveling cowards! Were they ever weaned, I wonder?
With the economy sliding deeper into a recession, panelists discuss whether it’s time to stop throwing our money into a massive pit out in the desert.
It would actually help if they did burn it instead of burning through it.. Not to worry, though. The Fed can create much more with just a few keystrokes. And of course the Treasury’s printing presses are running overtime. With enough inflation our debt will disappear, just ask Zimbabwe. They replaced the Rhodesian Dollar (which had a 1:1 exchange rate with US dollars in the mid ’70s, I know, I was there) on a one to one basis in 1980. When they finally got out of the money printing business they were printing Z$100 Trillion bills. On 8 November 2008 one of those bills was “officially” worth $147.50. Note that our debt is all in US dollars, does that give you any ideas? Can we /should we inflate our way out of debt? By the way, now in Zimbabwe they use a “basket of currencies” (sound familiar?) that includes the US dollar, South African Rand, Botswana Pula and the Pound Sterling. I wonder what our “basket” will consist of?
Courtesy of Onion News Network
New claims for unemployment benefits unexpectedly rose last week, bouncing back above the key 400,000 level, while core producer prices clumbed (sic) faster than expected in March, government reports showed on Thursday.
Is America really broke? Michael Moore (and others) tells us that there are oceans of cash being hoarded by the wealthy. But Iowahawk (iowahawk.typepad.com) did a little addition, and armed with these statistics Bill and the ‘Hawk blow a hole in the “hoarding” lie big enough to fit a documentary filmmaker through.
Sen. Paul questions the Department of Energy’s commitment to protecting consumer choice during consideration of Appliance/Light Bulb Energy-Efficiency Legislation.
I really would have liked to hear the Senator that was beginning to spear the Fed to the wall about the tenth amendment. Whe I find it, I’ll post it.
I’ve been told for my entire life that public-school teachers are underpaid. Even if that was true at one time, is it true any longer?
Public school teachers are at the forefront of protests against state budget cuts and restrictions on collective bargaining rights in Wisconsin, New Jersey, Ohio, and elsewhere.
Teachers have a lot to lose. According to Department of Education statistics, in 2007-2008 (the latest year available), full-time public school teachers across the country made an average of $53,230 in “total school-year and summer earned income.” That compares favorably to the $39,690 that private school teachers pulled down.
And when it comes to retirement benefits, public school teachers do better than average too. According to EducationNext, government employer contribute the equivalent of 14.6 percent of salary to retirement benefits for public school teachers. That compares to 10.4 for private-sector professionals.
Those levels of compensation help explain why per-pupil school costs have risen substantially over the past 50 years. In 1960-61, public schools spent $2,769 per student, a figure that now totals over $10,000 in real, inflation-adjusted dollars. Among the things that threefold-plus increase in spending has purchased are more teachers per student. In 1960, the student-teacher ratio in public schools was 25.8; it’s now at a historic low of 15.
Among the things all that money hasn’t bought? Parental satisfaction, for one. Despite public teachers’ much-higher salaries, parents with school-age children in public schools report substantially lower satisfaction rates than parents with children in private schools. In 2007, the percentage of parents with children in assigned public schools who were “very satisfied” with the institution was 52 percent. For parents whose children attended public schools of choice, that figure rose to 62 percent. Parents sending their children to private schools, whether religious or non-sectarian, were “very satisfied” 79 percent of the time.
It’s little wonder that parents with little or no choice report the lowest-levels of satisfaction (about 90 percent of K-12 students attend public schools). Despite all the extra resources devoted to public school teachers and students, student achievement has been absolutely flat over the past 40 years. The National Assessment of Educational Progress is “the largest nationally representative and continuing assessment of what America’s students know and can do in various subject areas.” When it comes to 17-year-old students (effectively, high-school seniors), nothing has changed since reporting began in the early 1970s. In 1971, 17-year-old students averaged 285 points (out of 500) in reading. In 2008, that had risen to 286. For math in 1973, the average score was 304 (out of 500). In 2008, it was 306.
Public school teachers make about $14,000 a year more in straight salary than private school teachers; when you add in benefits, the gap widens even more. They teach fewer students than ever before and taxpayers at all levels spend increasing amounts of money on education. Yet for all that, the best you can say is that we’re spending more than three times as much money as we were 40 years ago for exactly the same outcomes.
The National Governors Association says that states are looking at $175 billion in shortfalls over the next two years. Local governments are in the red too. As legislators look for places to cut or reduce spending, there’s no question that public school teachers have a lot to lose in terms of compensation.
And there’s no question that, even if there were no budget emergencies, the nation’s public school system is failing to return much of anything on an ever-growing pile of tax dollars.
Reason looks at the facts and intersperses the data with some now-familiar scenes of teacher protests, set to a particularly apt piece of music.