My June blog covers many topics and not just the same blogs that you have seen already.

      My constant remarks on global warming will however be mentioned since some noted scientists at a Chicago climate conference declared that global warming is not only dead but that most of the planet faces a big chill for decades to come. Mr. Don Easterbrook of Western Washington University told the gathering. “However the bad news is that global cooling is even more harmful to humans than global warming, and a cause for greater concern. And finally, another presenter, James M. Taylor an environmental policy expert and a fellow at the Heartland Institute, said that global cooling is happening now.

      There is no more important issue now than the financial meltdown of cities, counties and state governments in regard to public employees and defined benefit pension plans. The following are news items about these plans:The unions fear that legislation, A.B.155, which will make it more difficult for municipal bankruptcy so that payrolls cannot be cut like Stockton , Vallejo and Los Angeles is attempting to do. According to a a Stanford University study commissioned by Govenor Arnold Schwarzenegger, California public pension funds are underfunded by as much as $500 billion. These shortfalls apply to retirement systems for state and local government workers, teachers and University of California employees. Total is about 2.6 million retirees. This year, San Luis Obispo county will spend five (5) times as much on pensions as it does on prosecuting criminals. San Mateo County will spend more to fund its pension fund than it does on public works. Fresno County will pay nearly as much on its pension plan as it does for its Sheriff’s Office, which can”t afford to keep inmates locked up. There are many more examples of municipalities going down but the the do nothing response to the problem by liberal politicians goes on.

      The Catholic Church has been hammered by the press for understandable reasons but the positive stories are rarely mentioned. Sam Miller, a prominent Cleveland Jewish Businessman wrote the following:

“Do you know –the Catholic Church educates 2.6 million students every day at a cost of 10 billion dollars to the Church, which is a saving to the American Taxpayer of 18 billion dollars. The graduates go on to graduate studies at the rate of 92%. The Church has 230 colleges and universities with an enrollment of 700,000 students. The Church has a non-profit hospital system of 637 hospitals, which account for hospital treatment of one out of every five people-not just Catholics-in the USA."

      In summary, in regard to the pension problem, contact your political friends and encourage the transfer of monies from defined benefit plans to individual 401(K) plans.

Gary E. Marsella

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