Historical happenings

3/18/1916 ~ On the Eastern Front, the Russians counter the Verdun assault with an attack at Lake Naroch. The Russians lose 100,000 men and the Germans lose 20,000.

3/18/1939 ~ Georgia finally ratifies the Bill of Rights, 150 years after the birth of the federal government. Connecticut and Massachusetts, the only other states to hold out, also ratify the Bill of Rights in this year.

3/18/1970 ~ The U.S. Postal Service is paralyzed by the first postal strike.


Historical happenings

2/27/1827 ~ The first Mardi-Gras celebration is held in New Orleans.

2/27/1939 ~ The Supreme Court outlaws sit-down strikes.

2/27/1963 ~ The Soviet Union says that 10,000 troops will remain in Cuba.

Historical happenings

2/3/1690 ~ The first paper money in America is issued in the Massachusetts Bay Colony.

2/3/1908 ~ The U.S. Supreme Court rules that union-sponsored boycotts are illegal, and applies the Sherman Antitrust Act to labor as well as capital.

2/3/1971 ~ OPEC decides to set oil prices without consulting buyers.


Historical happenings

1/12/1908 ~ A wireless message is sent long-distance for the first time from the Eiffel Tower in Paris.

1/12/1926 ~ U.S. coal talks break down, leaving both sides bitter as the strike drags on into its fifth month.

1/12/1998 ~ Nineteen European nations agree to prohibit human cloning.


Big Spenders

The Marxist/Socialists/Communists Poobahs in California gave way the taxpayer dollars at every chance on vote buying programs. What they didn’t do was act responsibly and apply those ripped off monies to the pensions they so lavishly bestowed upon the public unions. Now those flapping wings coming to roost aren’t chickens, but buzzards lining up to pick the bones of California’s pensioners.

This is the end game, the only end game possible in a Socialist milieu. It never varies.

California’s Brown Raises Prospect of Pension Cuts in Downturn

California Governor Jerry Brown said legal rulings may clear the way for making cuts to public pension benefits, which would go against long-standing assumptions and potentially provide financial relief to the state and its local governments.

Brown said he has a “hunch” the courts would “modify” the so-called California rule, which holds that benefits promised to public employees can’t be rolled back. The state’s Supreme Court is set to hear a case in which lower courts ruled that reductions to pensions are permissible if the payments remain “reasonable” for workers.

“There is more flexibility than there is currently assumed by those who discuss the California rule,” Brown said during a briefing on the budget in Sacramento. He said that in the next recession, the governor “will have the option of considering pension cutbacks for the first time.”

That would be a major shift in California, where municipal officials have long believed they couldn’t adjust the benefits even as they struggle to cover the cost. They have raised taxes and dipped into reserves to meet rising contributions. The California Public Employees’ Retirement System, the nation’s largest public pension, has about 68 percent of assets needed to cover its liabilities. For the fiscal year beginning in July, the state’s contribution to Calpers is double what it was in fiscal 2009.

Across the country, states and local governments have about $1.7 trillion less than what they need to cover retirement benefits — the result of investment losses, the failure by governments to make adequate contributions and perks granted in boom times.

“In the next downturn, when things look pretty dire, that would be one of the items on the chopping block,” Brown said.

The smart money left California over the past few years, tired of being taxed to the point of stupidity. What’s left are the welfare crowd, illegals, die hard Progressives and the Public Service worker Union members.
This is going to be fun to watch. Liberals hate to spend their own money. Sooner or later however, they run out of OPM. Oh the pain, the pain.


Historical happenings

1/6/1910 ~ Union leaders ask President William H. Taft to investigate U.S. Steel’s practices.

1/6/1921 ~ The U.S. Navy orders the sale of 125 flying boats to encourage commercial aviation.

1/6/1987 ~ Astronomers report sighting a new galaxy 12 billion light years away.


Historical happenings

12/14/1819 ~ Alabama is admitted as the 22nd state, making 11 slave states and 11 free states.

12/14/1909 ~ The Labor Conference in Pittsburgh ends with a “declaration of war” on U.S. Steel.

12/14/1980 ~ NATO warns the Soviets to stay out of the internal affairs of Poland, saying that intervention would effectively destroy the détente between the East and the West.