No Runny Eggs

The repository of one hard-boiled egg from the south suburbs of Milwaukee, Wisconsin (and the occassional guest-blogger). The ramblings within may or may not offend, shock and awe you, but they are what I (or my guest-bloggers) think.

Archive for October, 2010

October 10, 2010

Recommended Reading (10/10/10)

by @ 22:22. Filed under Miscellaneous.

Here are, in my view, interesting, noteworthy columns and articles from the past week that I highly recommend (You will note that on occasion, I do not endorse the opinions of the author and may point that out. Despite my disagreements, I still feel the piece is worth a read).

Democrat candidates play down party

“One New York Democrat proclaims that he proudly opposed the federal government’s health care overhaul plan. Another one pledges, in the finest Tea Party spirit, to oppose any future financial bailouts. Still another has rolled out three Republicans in three separate commercials, all vouching for his credentials. But there is one word you will not hear mentioned in any of these campaign advertisements: Democrat. ”

The fired Congress

“Some companies have a policy that once someone is fired, they aren’t allowed back on the premises out of fear they might do further damage to the company. It’s too bad Congress doesn’t have the same policy. Because before they’re replaced in January, all of the Democrats who are put out of a job in November will be able to come back and rob the nation blind.”

The rise of black Republicans

“One might think the resurgence of black Republicans, coming as it does at a time when a black Democrat is president, would rate more than a feature story or two in the national media. But that would conflict with the liberal meme that Republicans are racist.

Many liberals also say Republicans are anti-immigrant, even though Hispanic Republicans are poised to win a Senate seat in Florida (Marco Rubio) and gubernatorial races in New Mexico (Susana Martinez) and Nevada (Brian Sandoval).”

A letter from a Republican to Hispanics

“First, a message to those of you here illegally: You may be very surprised to hear this, but in your position, millions of Americans, including me, would have done what you did.”

Regulatory tsunami hurts job growth

“Regulations coming out of Washington, D.C., are impeding job growth and moving the United States away ‘from a government of the people to a government of the regulators,’ the head of the U.S. Chamber of Commerce says.”

Five Societal Trends That Signal Our Nation’s Decline

Each of these five trends taken separately could be viewed as a serious problem but not necessarily a signal of national decline. However, when these problems are considered collectively with their cause and effect and interrelationships, it becomes apparent why we are facing a society-transforming tsunami that our nation as a free market democracy is nearly powerless to stop — no matter how many millions of dollars our government throws at these problems.”

Is hate speech protected?

“The Supreme Court is now hearing the Snyder-Phelps case and the outcome is important for all Americans. With the rise of the internet, cyber-bullying and threatening behavior has become a plague upon the land. Kids are committing suicide because they are humiliated on the net and anyone can be targeted by sick individuals. Inflicting emotional distress on another human being is just a mouse click away.”

Shocking: Bigoted White Tea Party Woman Beats Petite Black Female Reporter

“I’m sorry, I got that wrong. Stupid me. I’m never going to make it in this business. It was actually a big black liberal woman who whaled on a petite white conservative female reporter last weekend.

Whew, thank God I corrected myself because we all know that if a hulking honky Tea Party mama with dragon nails had smacked down a svelte progressive black female reporter (and on film, no less) it would have caused a media firestorm.”

October 8, 2010

Wisconsin Senate race drunkblog, round 1

Since I have some family matters to attend to, I may or may not be back in time to catch the start of the debate at 8 pm Central. Fortunately, Shoebox will be staying up late to kick things off in case I’m not in.

Here in Milwaukee, there’s three choices for watching – Channel 4, Channel 10, and C-SPAN; in other parts of the state, it should be on one of the PBS stations as well as a local affiliate (likely the same one that carried the first gubernatorial debate), and for the national audience, C-SPAN will be covering it.

What is the cost of doing nothing* for Social Security?

by @ 10:55. Filed under Social Security crater.

* Nothing, other than combining the Old-Age and Survivors’ Insurance and Disability Insurance plans, that is.

The House Budget Republicans calculated what will happen to the Social Security benefits of those near retirement if the Social Security Trustees’ 2010 intermediate case is right and the combined OASDI “Trust Funds” are exhausted in 2037. At that point, the payroll taxes will pay for just 78% of scheduled benefits. They included a handy table of the cuts to the benefits of those who are now between 55 and 62 years old:


Click for the full-size pic

Of course, that assumes that Social Security does make it to 2037. In order for that to happen, not only does the assumption have to be right when recent assumptions have proven to be exceptionally rosy, but somewhere around $8 trillion in nominal dollars will need to be found to monetize the “Trust Funds”. There’s not so much as $0.01 available in cash to do that, so that represents an addition to the publicly-held debt, and $5.5 trillion of that represents future additions to the total debt (the $2.5 trillion in the “Trust Funds” now is part of the total debt, but not the public debt).

Employment estimate divergence, private enterprise versus government edition

by @ 8:57. Filed under Economy Held Hostage.

On Wednesday, ADP said that seasonally-adjusted private-sector employment dropped by 39,000 in September, down to 106,949,000. Yednesday, Gallup asserted that their measure of non-seasonally-adjusted unemployment went up from 9.3% at the end of August (itself up from 9.1% in the middle of August) to 9.4% in the middle of September and 10.1% at the end of September. Today, the Bureau of Labor Statistics said seasonally-adjusted private-sector employment rose by 64,000 to 107,970,000, and that the non-seasonally-adjusted unemployment rate dropped from 9.5% in August to 9.2% in September.

One of these things is not like the others.

October 7, 2010

Clinton lawgiver-in-black – PlaceboCare, Communism mandated by the Constitution

(H/Ts – Allahpundit and Philip Klein)

Lawgiver-In-Black George Steeh, Michigan Eastern District judge appointed by Bill Clinton, ruled that any and every Congressional regulation of any economic decision that just might affect an aspect of interstate commerce that Congress decides to regulate is “Constitutional” under the Commerce Clause. Yes, you read that right – if Congress were so inclined, it can order you to buy a new Government Motors vehicle (and even tell you precisely which vehicle and which options) every three years.

FUCK THEM!

Hope and Change

by @ 19:29. Filed under Health Care Reform.

In just the past week, the following articles have surfaced:
McDonald’s May Drop Health Plan
3M Eliminates Medicare-Eligible Coverage Beginning in 2013
Gee, Thanks, Mr. President
21,000 Iowans to lose Medicare plans

I thought Placebocare was specifically set up so that you, me, all these people, could keep their insurance plans? Where is all of the insurance plan keeping? Oh, here it is….

30 Companies, Other Groups Escape New Health Care Rule for Now

Hope and Change? Nope. Placebocare is nothing but blind ignorance and more “rules are meant for the little people” attitude from Washington!

The November Victory Preview video

From The Head Moron/Ewok/Hobo Hunter and my friends at Eyeblast.tv

Now, get out there and make it happen! A good start is to your left (unless you’re viewing the mobile site, in which case, it’s one post down).

October 6, 2010

Tip the scales for Ron Johnson

by @ 21:43. Filed under Politics - National.

Since Russ Feingold decided to lean on the likes of MoveOn.org for some quick campaign cash, the Ron Johnson campaign decided to launch a scale-tipping money bomb.

Revisions/extensions (9:54 am 10/8/2010) – The money bomb is over, with somewhere over $68,000 donated. Johnson does, however, still need your help, so if you do have some spare cash rattling around, and you haven’t already hit the general-election donation limits, do head to the campaign site and donate.

$17 billion down the hole to save UAW

by @ 13:15. Tags:
Filed under Business, Politics - National.

TheTruthAboutCars.com found an interesting tidbit in the official TARP 2-year retrospective – $17 billion of the $80 $73 billion spent on General Motors/Government Motors, GMAC/Ally Bank, Chrysler/UAW Motors and the former Chrysler Financial will never be recovered. Let’s walk through the numbers, using the August 2010 monthly report to Congress and monthly interest/dividend report, and remembering the $6.71 billion “loan repayment” from Government Motors represented a writedown of TARP money promised to GM:

Net expenditures of $72.55 billion:

  • $43.15 billion to GM (does not include the $6.71 billion “loan” that was “repaid” with unused DIP financing, which also came out of TARP)
  • $12.26 billion to various entities using the Chrysler name (Old Chrysler, the former Chrysler Financial and UAW Motors – does not include $2.05 billion of available-yet-unused financing from the US Treasury)
  • $17.14 billion to GMAC/Ally Financial

Net repayments of $4.09 billion:

  • $0.36 billion from GM as payment for a loan for its warranty program (note; this does not include the $6.71 billion “repayment” made from unused DIP financing)
  • $1.5 billion from former Chrysler Financial as full payment of loans made to it plus an additional $0.02 billion from Chrysler Financial for reasons unknown
  • $1.9 billion from Cerebus (the former owner of Chrysler) to extinguish the remaining $3.5 billion Old Chrysler owed the Treasury and free the former Chrysler Financial from the lien placed on it.
  • $0.03 billion in proceeds from the liquidation of Old Chrysler

Interest and dividend payments of $2.61 billion:

  • $0.14 billion from pre-bankruptcy GM in interest payments
  • $0.34 billion from Government Motors (New GM) in interest payments (it is impossible to separate the legitimate warranty loan repayment and earlier loan payments from the much-larger sham “loan repayment”
  • $0.18 billion from New GM in dividend payments on preferred stock
  • $0.01 billion from the former Chrysler Financial in interest payments
  • $0.06 billion from Cerebus/Old Chrysler in interest payments
  • $0.25 billion from UAW Motors in interest payments
  • $1.63 billion from GMAC/Ally Financial in dividend payments on both preferred stock and trust preferred securities

That leaves somewhere around $65.85 billion in expenditures on Government/UAW Motors and their financing arms uncollected thus far. However, there’s still significant amounts of money the Treasury has claim to, and which the 2-year retrospective assumes will be repaid:

  • $2.10 billion in preferred stock in New GM, which pays an annual 9% dividend (or $0.19 billion per year), which cannot be liquidated by GM until 12/31/2014 and until any outstanding dividend is repaid. That required dividend amount pushes the minimum preferred stock liquidation amount to $3.05 billion.
  • $0.99 billion in loans still owed by Old GM, almost certainly not to be repaid anywhere near in full.
  • $2.00 billion in loans to UAW Motors at a minimum 7% interest (or the 3-month LIBOR rate plus 5 percentage points if that’s higher), due at the end of 12/2011, and $3.09 billion in loans to UAW Motors at a minimum 9.91% interest (or the 3-month LIBOR rate plus 7.91 percentage points if that’s higher), due at the end of 6/2017. With a total of $2.55 billion in interest left if both loans go to maturity, that would bring the total amount due from UAW Motors to $7.64 billion.
  • 228,750,000 Series F-2 Preferred shares in Ally Financial, which if Ally does not pay $11.43 billion plus any outstanding dividend (9% annual dividend, or $1.03 billion per year) to liquidate the preferred shares, will be converted to, at the present value, 988,200 common shares in Ally at the end of 2016. The dividend through the end of 2016 would net the Treasury $7.21 billion, at which point it will increase its holdings to a majority of authorized Ally common stock (it currently holds 450,121 shares, 56.3% of outstanding stock and 22.3% of authorized stock).
  • Trust Preferred Securities in Ally Financial with a liquidation value of $2.67 billion plus any unpaid distributions, which carries an 8% annual distribution rate (or $0.21 billion per year) and is effectively a 30-year note.

Assuming the UAW Motors loans go to maturity and actually get paid back in full, Government Motors liquidates its preferred shares as soon as it can, Ally Financial manages to retire its Trust Preferred Securities at the end of 2011, and Ally decides that just-under-half its common stock is not worth $11.43 billion (likely because 51% of the company was bought by a consortium led by Cerebus for $7.4 billion in 2007), somewhere around $21 billion will come into the Treasury by the end of June 2017. That would leave $44.85 billion unpaid. Given the government assumes it’s still going to lose $17 billion, the sales of the 61% stake in Government Motors, 10% stake in UAW Motors, and 81% stake in Ally Financial together are expected to bring in somewhere less than $28 billion.

October 5, 2010

Must-view TV – Ben Howe’s “The Socialist”

by @ 22:23. Filed under Politics - National.

Ben Howe has created a trailer for “The Socialist”, a story that has been given a good, solid B+ by the White House. Since I can, and since Ben’s a friend, here it is…

[youtube]http://www.youtube.com/watch?v=Aj-MpP5n3uE[/youtube]

Remember, we are the last, best hope.

[youtube]http://www.youtube.com/watch?v=6weDMH-SCOE[/youtube]

Poof, You’re a Physician – Update

by @ 20:32. Filed under Health Care Reform.

It looks like the fact that rationing will be the result of the implementation of Placebocare is getting more attention and more supportive statistics:

Doc Shortage to Worsen After Healthcare Reform

From the article:

By 2015 — one year after the majority of the provisions in the Affordable Care Act (ACA) will have taken effect — the nation will be short 63,000 physicians, a figure that includes both primary care doctors and specialists. Previous estimates put the shortage at 39,600.

Note that the study now shows a shortage of 63K physicians which is nearly double a previous study. The study goes on to state the obvious implication:

“Unless Congress supports at least a 15% increase in residency training slots (adding another 4,000 physicians a year to the pipeline), access to health care will be out of reach for many Americans,” the group said in its press release.

The problem will be most pronounced for people living in rural and underserved areas where finding a doctor can already be a difficult task, according to the report.

What will happen in areas where there aren’t enough physicians? Why of course, people won’t get their health care. But wait, Placebocare was supposed to provide the utopia of health care for all. Nope, just one more example of the fallacy of the “government can provide everything without implications crowd.”

What’s the most concerning part of this problem? That would be that this study is still understating the problem by about half. If you look at the numbers I showed you here, we will need approximately 144,000 additional physicians on the day Placebocare is enacted in order to maintain the same physician/patient ratio as today. The problem with even that number is that it doesn’t take into account physicians who choose not to continue in their profession or the increase visits driven by the fact that Placebocare, and health care in general, will now become free for a significantly larger portion of the US population.

Whether through death panels or the inability to access physician care due to a swamping demand of the system, Placebocare will create rationing of health care. Unless, of course, The One is able to point his magic wand and say “Poof, you’re a physician!”

Twitter gets results, NFL edition

by @ 12:55. Filed under Politics - National, Sports.

The Weekly Standard’s Stephen Hayes posted on Twitter that the latest Russ Feingold ad (note; I have not seen the ad, mostly because I don’t watch a whole lot of television) used footage from a Green Bay Packers-Minnesota Vikings game, and brought it to the attention of NFL officials, including league spokesman Greg Aiello, specifically asking whether the footage in question was licensed by the campaign. Aiello, on his Twitter account, said, “No. We did not license the footage and have contacted the Senator’s campaign about removing it.”

The full Weekly Standard story describes the footage in question, and the Milwaukee Journal Sentinel embedded a YouTube version of the ad (at least while YouTube still has it up; I suspect the NFL will issue a takedown notice momentarily).

October 4, 2010

“Sewer overflows happen frequently, without public notification”

by @ 21:06. Filed under Miscellaneous.

Here is the Appleton Post-Crescent article I discussed on WISN today while filling in for Mark Belling:

“Federal law makes sewage overflows illegal. Yet they frequently happen and mostly without the public knowing.

In all, about 9.1 billion gallons of untreated sewage-contaminated water — enough to fill 457,000 backyard swimming pools — were released into the environment by 276 villages, cities, counties and sewage districts on 1,198 occurrences statewide since Jan. 1, 2006, according to data collected by the DNR and analyzed by The Post-Crescent. The wastewater overflows happened in 58 of the state’s 72 counties, including throughout the Fox Valley.

The state’s biggest by far came from one source: the Milwaukee Metropolitan Sewage District, which provides sewage service for 28 municipalities, including Milwaukee, through a shared pipe system. The district reported nearly 8.5 billion gallons of overflows, mostly into Lake Michigan, since the beginning of 2006, when the DNR began organizing the data electronically.”

And here is the CRG news release mentioned on today’s program:

NEWS RELEASE
For Immediate Release                                                                            
October 3, 2010
For Further Information Contact:

Chris Kliesmet, 414-429-9501

Unelected Boards Create Campaign CashBarrett Example Yields Over $150,000 in Board Contributions

Citizens for Responsible Government (CRG) has long analyzed and reported on the drawbacks of unelected boards, particularly those with the power to unilaterally impose taxes.  The CRG audit and online database of Milwaukee Area Technical College (MATC) Board spending and the well-publicized shortcomings of the Metro-Milwaukee Sewage District (MMSD) Board highlight a lengthy list of perceived problems with unelected boards given broad regulatory power as well as taxing power without direct voter representation.

CRG began an investigation and analysis of MMSD due to citizen outrage over recent flooding and basement sewage back-ups.  Initial findings suggested that these failures are largely due to governance issues at the City of Milwaukee and on the MMSD Board level rather than operational issues at MMSD.  Further investigation of political actions and involvement within MMSD revealed significant contributions from MMSD Board members to the politicians that appoint them.

For example, MMSD Board members contributed almost $10,000 to Tom Barrett campaigns with $4,000 being contributed in 2009-2010 election cycle alone.  Every MMSD Board who contributed gave at least $100, six gave at least $250, five gave at least $500, and three gave over $1000 with one donor exceeding $2000 and another exceeding $3000.

As a result, a pilot project was undertaken to analyze and understand the relationship between political contributions and appointments to boards such as MMSD. The City of Milwaukee and Mayor Barrett were chosen as the initial study example based on the large number of appointed boards the City has jurisdiction over as well as the large number of mayoral appointees to those boards.

The study methodology required compiling a partial list of mayoral board appointees by Milwaukee Mayor Tom Barrett to 92 boards during his tenure as mayor (list is partial as a complete list of past appointees do not exist – spouses were included on list). This list was cross-indexed against contributions to Barrett campaigns from 7/1/2000 to 6/30/2010 obtained from databases maintained by the City of Milwaukee and the Wisconsin Democracy Campaign.  The entire tabulated data set may be downloaded at www.crgnetwork.com/shared/Barrett Board Appointee Contributors Worksheet.xls.

The following are selected statistics from the analysis

Total Campaign Contribution Dollars   $151,307.79
Average Contribution Per Donation   $330.37
Average Total Contributions Per Donor   $1,220.22

 Project leader Chris Kliesmet commented, “The numbers yielded by our analysis were quite surprising and perhaps more than a little disturbing.  Given that the total contributions are well into six figures and the average total contributions per donor crosses the one-thousand dollar mark, it does suggest at least a perception of impropriety that should be addressed, particularly when reviewing compensated boards.  Additionally, one must not discount the imputed value of the regulatory power wielded even by uncompensated boards.  For those seeking appointments, and there are many who covet such appointments, the regulatory power may be more highly valued than any monetary reward.  Whether by design or sheer happenstance, it is safe to say that the power to make unelected board appointments can be used as a tool to raise campaign cash and creates yet another strong argument against unelected boards.  CRG will issue updates to our investigations should our analyses continue to yield noteworthy results.”

UPDATE:While I was on the air today, Chris Kleismet of CRG tried to phone in, but couldn’t because the lines were jammed.He wanted to pass along important information.

CRG’s analysis of campaign cash contributions showed that one person, Ronald S. San Felippo gave six contributions on or about the 22nd of each month to Tom Barrett with the last contribution made on 6/22/10. Here are San Felippo’s donations to Barrett:

1/22/10: $1,500

2/22/10: $1,500

3/22/10: $1,500

4/22/10: $1,500

5/22/10: $1,500

6/22/10: $1,500

Note the last contribution on 6/22/10

Just six days later, San Felippo was appointed to the Business Improvement District Board #2 by Barrett.

A coincidence? I don’t think so.

Kleismet also offers that a video and transcript of MMSD Kevin Schafer’s remarks saying that 2 of 4 previous sewerage overflow dumps could have been avoided by a change to legislation can be found here.

Kleismet wrote to me:

“By law they (MMSD) must start dumping in ANTICIPATION of separated sewer flows IN CASE they MIGHT come in. That means they start dumping with the tunnel often less than half full. On two occasions the suburban flows DID NOT COME IN AS PREDICTED and they dumped sewage that didn’t need to be dumped.

Why are politicians like Barrett unwilling to crusade for this change? This is outrageous they COULD have eliminated half of the overflows last year without so much as the cost of the ink for their signatures on a piece of legislative paper.

This is a huge campaign issue that Scott Walker needs to hammer on. He could use your help doing so. Please consider sending a contribution.

October 3, 2010

Recommended Reading (10/03/10)

by @ 22:39. Filed under Miscellaneous.

Here are, in my view, interesting, noteworthy columns and articles from the past week that I highly recommend:

Compare and contrast: Karl Marx 10-point program of Communism and Democrat agenda

“No federal government has damaged the American free market more than this one. No federal government has stolen more employment, more freedom, more private property — from this and future generations — than this one. No government has created more regulations, more unconstitutional dictates, more — dare I say it — slavery than this one.”

Don’t show all your cards

“If all goes well for Republicans in the midterm elections, they’ll capture the House and maybe the Senate, having revealed few specifics of what they might do in the next Congress. This makes sense. It’s the Chris Christie strategy.”

When blacks attack Obama

“I am forbidden to critique BHO and his boys on anything they say or do. Yes, if I do utter anything derogatory regarding his holiness it is immediately dismissed because of four primary reasons. Herewith are the raisons d’être of why I cannot decry señor Hussein.

Reason #1: I am white. How do I know I’m white? Well, aside from my skin color, one telling mark of my Caucasian-ness is that I have Hall & Oates on my iPod (I always set the treble up higher than the bass) and, of course, my Florence Henderson tattoo. If that ain’t white, I don’t know what is. Since I’m white I’m not allowed to disagree with Obama because that’d be hatred. It’s true. It’s science.

Reason #2: …”

The Ted Pledge

“What Republicans owe the American people is a hefty dose of plain-speaking, bold pragmatism that clearly articulates the GOP’s vision for America. Even I, your humble Motown guitar slayer, remain steadfastly locked on the vision of our Founding Fathers and am prepared to ride to their rescue with the Ted Pledge. My crowbar of logic and truth does not gently weep.”

The Five Biggest Lies about Liberalism

Every now and then liberals like to claim that they’re patriotic. Usually around an election. Of course they’re not patriotic in the ‘wear a flag on your lapel’ kind of way. They’re more patriotic in the ‘point out everything wrong with your country and then threaten to move to Canada if you don’t win the election’ way. Which is fine. America has seen patriots like that before. They used to wear green coats and moved to Canada, right around the time the last British troops left New York on Evacuation Day.”

Quietly racking up the abortion toll

“While Planned Parenthood continues to sit on its annual report for 2008-2009, new documents found hidden on its labyrinthine website give taxpayers an insider’s look into the beleaguered abortion monopoly it is helping fund.

The shocking thing about these numbers is that they are finally dispelling the ubiquitous Planned Parenthood lie that the organization is about something other than abortion.”

Finding Reassurance for America in Baseball

“Anyone who says America is broken, dysfunctional and doomed hasn’t been to a ballgame lately. The people who come out to such sporting events aren’t just the superrich or the privileged few: They represent every economic and ethnic segment of the society. When 20,000 enthusiasts can still find the money to come out to cheer a last place team, it’s inappropriate to peddle apocalyptic visions of a nation made up primarily of the destitute and desperate.”

Toys from our youth that would be illegal today

“A while back I wrote about the Johnny Seven One Man Army rifle (a toy from the sixties that Chuck Schumer would personally ban). What other toys from our youth would the Party of Weakness outlaw in this politically correct day and age?”

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